Breaking: Plus500 Revenues Spike Back Up Above $80 mln in Q3
Both revenue per user and average user acquisition costs ballooned as the company recovers from the second quarter slump
One of the hottest acquisition targets this year, Plus500, has announced its metrics for the third quarter of 2015. The company announced that its revenues have increased materially when compared to the second quarter of 2015, when it got a hit by an FCA probe on client on boarding procedures.
After the regulatory issues have been waived, the brokerage has announced impressive results in the third quarter of 2015. Revenues have increased by a massive 80 per cent when compared to the second quarter to reach $80.9 million. The figure was also higher by 44 percent when compared to the third quarter of last year.
Despite this positive outcome in terms of revenues some worrying signs persisted – the number of new customers has dropped to 17,047 which is lower by almost 12 per cent when compared to Q2. This can in part be explained by rising average user acquisition costs (AUAC) and rising average revenues per user (ARPU).
Both figures have spiked materially higher with ARPU coming in at $1354, while AUAC hit $1468. The numbers are materially higher than last quarter when we saw the first metric was at $823 while the second was $1278 per client. With both metrics rising and ARPU surpassing AUAC once again, the performance of the brokerage appears to have stabilized.