Shares of Israel based online broker etoro Group Ltd (NASDAQ:ETOR) traded down by 9% early Tuesday, after the company released Q3 2026 results that clearly disappointed investors.
Before digging into what went right and wrong for etoro this quarter, a quick look at the “big picture” tells a good part of the story. etoro quarterly Revenues (or what it calls “Net contribution”) fell by 19% from what was already a disappointing Q2, and at $186 million were the lowest they’ve been since Q3 2024 – before the company went public (in May 2025).
Bottom line net income fell by 77% QoQ to just $12 million in Q3.
etoro share price
etoro’s share price responded by trading down by 9% once the markets opened Tuesday. As of the time of writing, etoro shares are changing hands at $21.31 (after earlier having dipped to as low as $21.30) – their lowest level ever since the May 2025 IPO, which was priced at $52 a share.
etoro share price graph IPO to present. Source: Google Finance.
etoro decline explained
The company explained that the decreased in Revenue was mainly due to decreased crypto trading activity.
There were some bright spots in etoro’s report, however. Funded Accounts increased to 4.39 million in Q3 from 4.28 million in Q2, and in October 2026 continued to grow to 4.42 million. Assets under Administration (AUA) at etoro were $20.8 billion in Q3, up from $19.2 billion in Q2, but were back down to $19.2 billion in October.
We’d note that etoro’s NASDAQ listed rival Robinhood (NASDAQ:HOOD) also has seen a big slowdown in crypto trading activity this year. But Robinhood has more than made up for the shortfall with activity from other areas, such as Prediction Markets and Options trading, leading to record Revenues for Robinhood in Q3.
