Interactive Brokers (IBKR) Q1 FY25 earnings call

Earnings call· Mar 2025 (Q1 FY25)· Financials· Apr 15, 2025

Source: earnings call transcript

Interactive Brokers delivered record financial results in Q1 FY25, driven by robust client acquisition and increased trading activity across diverse asset classes, particularly from international investors. The company demonstrated strong expense control, maintaining an industry-leading pretax profit margin. Amidst market volatility, the firm increased its dividend and announced a stock split, signaling confidence in its business model and capital strength, while continuing to expand its global product offerings and automate operations.

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IBKR operating KPIs by quarter

IBKR operating KPIs stated on its earnings calls, by fiscal quarter
KPI	This call Mar 2025 Q1 FY25	Jun 2025 Q2 FY25	Sep 2025 Q3 FY25	Dec 2025 Q4 FY25	Mar 2026 Q1 FY26	Jun 2026 Q2 FY26	Sep 2026 Q3 FY26	Change vs prior quarter
Net new accounts	279K In the first quarter, we added 279,000 new accounts, a record that well surpassed even the mean stock days of the first quarter 2021. Source: earnings call transcript	250K This quarter, we added 250,000 net new accounts, bringing our year-to-date total to over 528,000, more than we added in all of 2023. Source: earnings call transcript	—	—	—	—	—	-10.4%
Employees	3,027 Our head count at March 31 was 3,027. Source: earnings call transcript	3,087 As always, we remain focused on expense discipline as reflected in our moderate staff increase of 5% over the prior year, and our headcount at June 30 was 3,087. Source: earnings call transcript	3,131 Our head count at September 30 was 3,131. Source: earnings call transcript	3,182 Our head count at December 31 was 3,182. Source: earnings call transcript	3,232 Our head count at March 31 was 3,232. Source: earnings call transcript	3,265 Our headcount at June 30 was 3,265. Source: earnings call transcript	3,286 Our head count at September 30 was 3,286. Source: earnings call transcript	+0.6%
Customer DARTs	3.5M On Page 7, you can see that total customer DARTs were 3.5 million trades per day, up 50% from the prior year and strong in all product classes. Source: earnings call transcript	3.6M On Page 7, you can see that total customer DARTs were 3.6 million trades per day, up 49% from the prior year and strong in all product classes. Source: earnings call transcript	3.6M On Page 7, you can see that total customer DARTs were 3.6 million trades per day, up 34% from the prior year, strong in options and stocks. Source: earnings call transcript	4M On Page 7, you can see that total customer DARTs were at 4 million trades per day, in the quarter, up 30% from the prior year. Source: earnings call transcript	4.4M On Page 7, you can see that total customer DARTs were 4.4 million trades per day in the quarter, up 24% from the prior year. Source: earnings call transcript	4.8M On Page 7, you can see that total customer DARTs were 4.8 million trades per day in the quarter, up 36% from the prior year and commission cleared commissionable order of $2.64 and was off slightly from last year. Source: earnings call transcript	4.3M On Page 7, you can see the total customer DARTs were 4.3 million trades per day in the quarter, up 18% from the prior year. Source: earnings call transcript	-10.4%
Commission per cleared commissionable order	$2.76 Commission per cleared commissionable order of $2.76, was down from last year due to both smaller average order sizes and earning higher rebates, which reduced the cost of a trade and are generally passed through to the customer. Source: earnings call transcript	$2.65 Commission per cleared commissionable order of $2.65 was down from last year, primarily due to the elimination of the SEC fee mid-quarter and the performance of our Smart Order Router, leading to the capture of higher exchange rebates, which as pass-throughs, served to lower both our commission revenues and our execution and clearing costs. Source: earnings call transcript	$2.7 Commission per clear commissionable order of $2.70 was down from last year, primarily due to the elimination of the SEC fee and the performance of our smart order router, leading to the capture of higher exchange rebates and minimizing exchange costs, which as pass-throughs, serve to lower both our commission revenues and our execution and clearing costs. Source: earnings call transcript	$2.64 Commission per cleared commissionable order of $2.64 was down from last year, primarily due to a mix of smaller average order sizes in stocks and futures and slightly higher in options. Source: earnings call transcript	$2.59 Commission per clear commissionable order of $2.59 was up slightly from last year when the full SEC fee rate was being charged. Source: earnings call transcript	$2.64 On Page 7, you can see that total customer DARTs were 4.8 million trades per day in the quarter, up 36% from the prior year and commission cleared commissionable order of $2.64 and was off slightly from last year. Source: earnings call transcript	$2.59 Admission per cleared commission order of $2.59 was down 4% from last year on smaller order sizes across product types. Source: earnings call transcript	-1.9%

Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.

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