UP Fintech's Record Quarter Comes With A Bigger Bill The fintech sector has long been synonymous with disruption and innovation, but for some companies, the pursuit of growth can be a double edged sword.
Take UP Fintech (TIGR) as an example – its recent earnings call revealed a record breaking quarter in terms of revenue, driven largely by aggressive expansion into Singapore and Hong Kong.
The company's marketing expenses have skyrocketed, jumping 86. 6% year over year to $18. 4 million. This is due in part to brand campaigns in these two markets, which are becoming increasingly costly.