Plus500 confirms 9% Revenue drop, 4% EBITDA decline in Q2 2026

Israel-based online broker Plus500 has published its first-half 2026 results, confirming that business slowed in the second quarter after the company warned of weaker momentum in a trading update at the start of July.

For the six months ended June 2026, Plus500 posted revenue of $462.9 million, up 12% from $415.1 million in the same period a year earlier. EBITDA came in at $187.5 million, roughly 1% above the $185.1 million reported in H1 2025. Net income rose to $151.9 million from $149.6 million in the prior-year period, helped by a strong opening quarter.

Q2 slowdown

The sequential decline was more pronounced in Q2. Revenue of $220.8 million was 9% below the $242.1 million booked in Q1, while Q2 EBITDA of $91.8 million was 4% lower than the $95.7 million generated in the first three months of the year.

The weaker second-quarter trend has weighed on the shares. Since the company issued its trading update on July 13, Plus500 shares have dropped 24%. At GBP 37.56, the stock is now 32% below its 52-week high of GBP 55.35.

Customer acquisition and shareholder returns

Plus500 said it brought in 65,723 new customers during H1 2026, though only 25,856 of those were added in Q2. Average user acquisition cost stood at $1,230, rising slightly to $1,283 in the second quarter.

The company also announced total shareholder returns of $182.5 million, consisting of $100 million in share buybacks and $82.5 million in dividends. Cash balances remained strong at over $860 million. Since its IPO in 2013, Plus500 said it has announced roughly $3.1 billion in aggregate shareholder returns.

Chief Executive Officer David Zruia described H1 2026 as an outstanding period, pointing to record six-month results and progress in the company's non-OTC business, including prediction markets, sports contracts and single stock futures, as well as expanded B2B partnerships. He also noted continued traction in the OTC business, with a broader geographic footprint and extended 24/5 trading.

Zruia added that H2 2026 has started positively and that the board is confident of delivering full-year 2026 revenue and EBITDA in line with current market expectations.