Plus500 (LSE: PLUS) said today that its full-year 2026 revenue and EBITDA will be ahead of current market expectations. The online CFD and multi-asset trading group gave the guidance in its third-quarter update, reporting revenue of $203.2m, up 11% on a year earlier, and EBITDA of $88.4m, up 7%, a margin of 44%. EBITDA is earnings before interest, tax, depreciation and amortisation.
“With momentum accelerating across the Group, the Board expects that FY 2026 revenue and EBITDA will be ahead of current market expectations.”
David Zruia, Chief Executive, Plus500
Plus500 gave no numeric guidance. Over the nine months, revenue rose 11% to $666.1m, but EBITDA grew only 3% to $275.9m. The company puts that gap down to deliberate investment in marketing technology and cost scaling. Interest income also fell to $32.1m from $50.7m as global rates came down.
Customer numbers were stronger. New customers rose 27% in the quarter to 28,747, while the average cost of acquiring an active customer fell 14% to $1,150. Active customers rose 4% to 119,528, and average revenue per user rose 7% to $1,700. Customer deposits hit a quarterly record of $1.9bn, against $1.7bn a year earlier.
Plus500 also pointed to expansion in the US and abroad. It has agreed conditional deals, funded from existing cash, to buy two businesses: Hedge, a US broker-dealer, and Guru in Brazil. Hedge gives access to SEC-regulated securities markets and supports a planned US “super-app” in the first quarter of 2027. Guru gives the group its first local operations in Brazil and a base for Latin America.
The balance sheet carries no debt and cash stood above $775m at 30 September, after an $87.4m dividend and about $63.5m of buybacks in the quarter. Shares held in treasury make up about 38% of issued share capital.
Share price: weak into the update
The shares last traded on Friday, closing at 3290p. That is 2.55% lower on the week, 4.25% lower on the month and 18.77% below the 4050p close of the 23rd of July. They are 9.37% down since the end of 2025, though 2.30% higher than a year ago.
Friday’s close sits 33.32% below the closing high of 4934p on the 9th of February, and 2.62% above the closing low of 3206p on the 7th of October. Four daily falls of more than 4% fell inside the past three months, the largest 5.15% on the 2nd of October, to 3240p.
London has not yet traded today, so the market’s response to the release is still to come.