Plus500 Ltd. (LSE:PLUS) expects FY 2026 revenue and EBITDA to be "ahead of current market expectations" after a strong first quarter to 31 March 2026, driven by higher-value customers and heightened market volatility.
Customer Income hit a five‑year record of $270.6m (up 33% QoQ, 53% YoY). Revenue rose 24% QoQ to $242.1m and EBITDA increased 19% QoQ to $95.7m, producing a 40% EBITDA margin. New customers were 39,867 (up 53% QoQ) and active customers reached 157,703 (up 28% QoQ).
Management credited proprietary, technology-led customer acquisition and improved lifetime value. Average user acquisition cost fell 5% QoQ to $1,196 despite an incremental ~$16m investment in acquisition during the quarter; ARPU was $1,535 and total customer deposits hit a quarterly record of $1.8bn. Customer trading performance was ($38.9m) in Q1 and the group says this is expected to be "broadly neutral over time." The group remains debt-free with cash balances of over $780m.
Strategic momentum was centred on the US — revenue there was approximately $35m (c.21% QoQ, c.45% YoY), the US B2C prediction markets product launched in February and B2B ties with CME Group and FanDuel expanded. The Mehta acquisition in India closed in February, broadening the group's futures footprint; non‑OTC now contributes c.15% of group revenue.
"Reflecting the strong momentum across the business and our growing, increasingly diversified global footprint, the Board expects FY 2026 revenue and EBITDA to be ahead of current market expectations." David Zruia, Chief Executive Officer of Plus500 (LSE:PLUS), said.
