Moomoo Singapore's paying clients increase by 25% y-o-y for 3QFY2023 with parent company revenue up 42.3% y-o-y

Bryan Wu

22 November 2023 at 8:50 pm·1-min read

Nasdaq-listed Futu Holdings reported total revenue of US$338.5 million for 3QFY2023.

Moomoo Singapore has reported over 25.0% y-o-y growth in paying clients for its 3QFY2023 ended Sept 30.

During the quarter, Moomoo's parent company, Nasdaq-listed Futu Holdings reported total revenues of US$338.5 million ($453.4 million), up 42.3% y-o-y, while while non-generally accepted accounting principles (GAAP) adjusted net income was up 43.7% y-o-y to US$147.9 million.

As at end-September, Moomoo and its affiliated brands maintained a strong client retention rate at above 98.0%, with total client assets reaching US$59.8 billion.

Total trading volume also recorded a sequential growth of 13.6%, reaching US$139.2 billion.

Moomoo, along with its sister brands, reached a milestone of 21.09 million global users and 1.65 million paying clients by the end of 3QFY2023, representing an increase of 10.1% and 14.2% y-o-y, respectively.

The quarter has also seen a sequential growth of 12.0% in the acquisition of new paying clients, totaling approximately 65,000.

During the same period, Moomoo expanded its offering to include multi-leg options rollover for US stocks in the US and Singapore markets and brought US fractional share trading to Singapore.

Moomoo also launched its Turnkey Asset Management Platform (TAMP) service in Singapore, providing independent wealth management firms and family offices with state-of-the-art operational tools essential for client service to enhance the operational efficiency of financial advisors.

Just over two years since launching in Singapore, Moomoo Singapore claimed the top spot in both accumulated download count and Daily Active Users (DAUs) among digital investment platforms, according to data.ai reports.

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