eToro’s IPO could be days away
The firm had shelved its IPO amid volatility but is now ready to move ahead.
Israeli fintech company eToro is considering moving forward with its planned IPO on Wall Street as early as this coming week, after halting the process a month ago due to heightened market volatility, Bloomberg reported.
In early April, Bloomberg had reported that eToro—along with several other companies—had postponed its IPO plans following the market turmoil triggered by U.S. President Donald Trump's tariff announcement.
According to the Financial Times, other companies delaying their IPOs in response to the instability include Swedish fintech Klarna, which was valued at $15 billion; medical technology firm Medline, valued at $50 billion; and ticketing platform StubHub.
All four companies had filed prospectuses in recent months ahead of planned listings, but those plans have now been put on hold due to sharp fluctuations in the market since Trump's tariff announcement. eToro, for example, had postponed the start of its roadshow.
An initial prospectus submitted by eToro in March revealed the company's financial performance over the past year.
eToro reported a net profit of $192 million in 2024—a sharp increase compared to just $15.3 million in 2023 and a loss of $21 million in 2022. In terms of earnings per share, the company recorded a loss of $11.45 in 2022, turned profitable with $0.80 per share in 2023, and saw the figure rise to $9.85 per share in 2024.
According to the prospectus, eToro's revenue (total fees collected) reached $639 million in 2023 and $931 million in 2024. One of the key drivers behind the company's strong results was the surge in crypto trading. The company's EBITDA rose to $304 million in 2024, up from $117 million in 2023.
While eToro has not disclosed specific figures related to the offering, estimates suggest it will seek a valuation of at least $5 billion.
