reported 3rd quarter earnings that beat expectations driven by strong stock as well as crypto trading.
With less than 2 months until the new year, many global equity averages are looking at double digit percentage gains here in the US for 2025.
Now Precious metals are managing to outshine Bitcoin this year with gold, silver, platinum, and thadium up by at least 50%.
Well joining me here at the New York Stock Exchange to weigh in is Yon Asus, CEO of Toro, Yoni, great to have you here.
Thank you so much for joining me.
Thank you very much for having me.
Well, the company just reported earnings, so break down what drove the growth, and do you expect this to be sustainable?
So we've reported 28% growth in top line year over year and about almost 40% on bottom line.
So last 12 months we generated more than $800 million top line, more than $300 million. so very consistent results.
It's driven by both I'd say again, the big theme is always the rise of retail investors.
We continue to see more and more younger generations coming into the markets to trade exactly what you talked about.
They're trading stocks, US stocks, global stocks.
They're trading cryptocurrencies and Iorro, and they're also now trading gold, silver, palladium, platinum, so metals as well.
So See a very engaged audience today across all asset classes and the unique part of eToro is you can actually talk to other people on the platform, see what they're doing, and automatically copy the top investors.
Yeah, and Yoni, you were just in our nation's capital, so when we're talking about Capitol Hill versus Main Street versus Wall Street, there's a lot going on here.
So give us a breakdown of what you're focused on as you head into 2026 and why.
So I would split this into 21 is we've been leading in crypto since we started buying Bitcoin at $5 and launched Bitcoin when it was $100 on the platform in 2013 and I've seen sort of all of the growth in the crypto industry.
So we've always been bullish on crypto and we initiated the original conversations about tokenized assets, real world assets in 2012.
Of back then with Vitali, so it's great to see right now the convergence of crypto markets and capital markets.
SEC Chair Paul Atkins is talking about moving all capital markets on chain.
We've been talking about this for the past 13 years thinking how could this happen, and now it's happening.
So I think right now we have the most friendly administration in history towards both crypto but more.
On that blockchain and moving capital markets on chain editorial, we just shifted to 24/5 trading a lot of stocks.
Suddenly 30% of our volumes are now off market hours.
So what are we seeing?
We're seeing capital markets, stock markets actually copying crypto markets because the audience wants everything to trade like crypto 24/7.
So I think this is a very big year for digital assets.
And on the other hand, if you think of assets suddenly becoming smarter because they're digital, on the other hand, there's a huge trend we're seeing right now of AI trading.
So our customers we recently released APIs to our customers.
Our customers are either using an AI studio.
We're giving them where you can basically just vibe strategies for trading.
So instead of you.
Basically on screen and clicking, you can now have an agent trading for you 24/7.
So those are two of the big things I think not only for 2026 but well beyond that are going to completely shape the entire industry.
Yeah, absolutely.
When you're talking about a younger demographic, the role of artificial intelligence and social investing will play a huge part in terms of your growth, but I also understand you have a large checkbook when it comes to acquisitions.
So how do you plan on staying competitive?
So we first of all, stay competitive is first and foremost making sure that our customers are happy that they're educating themselves about capital markets and that they're compounding their wealth on IToro.
Assets in ITorro grew 76% from about $11 billion to $20 billion in the past 12 months, so huge growth of our customer assets in IToro and The best way to grow is to continuously deliver new products to our customers.
So we've been doing this.
We've been launching a lot of new products Iorro money, futures, etc. and we are also now have a very big balance sheet post IPO $1.2 billion of cash and cash equivalents talking to a lot of companies out there with great teams and we're looking.
Products that we believe our customers will actually want to use their products and their customers will want to use our products and Yoni, while I have you here, I do want to ask you about prediction markets because here at the New York Stock Exchange there have been plenty of announcements regarding the role of prediction markets.
So is this an area that you're going to get into?
So we're looking at now connecting.
Are non-custodial wallets, so people in it to can actually buy polygon.
They can buy Ethereum, then they can move it to their non-custodial wallet and connect to polymarkets.
So we will enable our customers to go into prediction markets on chain through crypto.
I think that's something that's already sort of in initial phases of building.
And then the second part, we are also looking at sort of the US listed futures prediction markets, which is interesting.
We just launched futures trading in Europe, so we started building that infrastructure and we will look at it to 2026.
OK, Yoni, well, we will have to leave it there for today, but thank you so much for joining me today here at the New York Stock Exchange and thank you so much for sharing your perspective.
Thank you.
My pleasure.
