Trading platform Plus500 (PLUS) lifted its revenue and EBITDA guidance for the year to December 2025 thanks to loyal customers.
The firm now expects revenue of around $792 million and EBITDA of $348 million against $768 million and $322 million in 2024.
The current analyst consensus is for revenue of around $758 million and EBITDA of $346 million.
Plus500 also expects to have ended 2025 with a cash balance of $800 million and remains debt-free.
| Share price: £36.95 +2.2% | P/E: 13.5x |
| Market cap: £2.6bn | Yield: 4.7% |
OLD CUSTOMERS, NEW MARKETS
The firm put the improvement in revenue down to a focus on long term, higher-value customers.
Around half of last year’s OTC (over the counter) income was driven by customers who have been on board for five years or more.
That compares with just 24% of revenue generated by longer-term (five years-plus) customers three years ago.
In addition, the group won licences in three new countries last year, Canada, Colombia and the UAE, taking it to 16 licences in total.
It also signed a deal with Fanduel, owned by Flutter Entertainment (FLTR), for prediction markets and event-based contracts.
Plus500 has managed a decent beat at the revenue level for 2025, where expectations were for a drop of $10 million.
The firm didn’t give an outlook for 2026, saying instead it was ‘strategically well-positioned’ to capitalise on market trends.
Therefore analysts and investors will have to wait for the full results in February for a more detailed outlook statement.
It’s worth noting that on a total return basis, Plus500 has been the best-performing stock in the FTSE All Share since it listed in 2013.
Read the press release here: https://investors.plus500.com/
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