XTB reported preliminary Q3 net profit of PLN 213.7 million and revenue of PLN 623.3 million on 28 October. Profit was about four times the PLN 53.2 million a year earlier, and revenue rose 65.9%. Compared with Q2, profit fell from PLN 492.2 million and revenue from PLN 992.3 million, down about 56.6% and 37.2%.
Profit beat the five-analyst average forecast of PLN 200.8 million by 6.4%. CFD lots traded fell 18.3% annually, but revenue per lot rose from PLN 152 to PLN 301. Commodity CFDs produced 70.8% of gross instrument results, with gold, oil, gas and silver prominent; index CFDs contributed 12.0%, versus 32.4% a year earlier.
New clients numbered 335,704, up 51.4% annually. Active clients reached 1,566,408, up 70.3%, and the total base was about 3.14 million. Net deposits were PLN 5.65 billion versus PLN 3.23 billion a year earlier. Average monthly turnover was about $341 billion against $343 billion in Q2, while profitability per $1 million traded fell from $238 to $133.
Operating costs rose 23.2% annually to PLN 397.6 million. Marketing was PLN 187.3 million, PLN 45.8 million higher annually, while total costs fell PLN 22.1 million from Q2 following online-marketing cuts. XTB expected 2026 operating costs up to about 30% higher and marketing about 50% higher than 2025.
Nine-month net profit was PLN 1.24 billion, versus PLN 463.3 million a year earlier and PLN 644.2 million for all of 2025. Management attributed the sequential slowdown to quieter markets, despite continuing commodity volatility. The full quarterly report was scheduled for 20 November, so the figures retain their preliminary status.
Sources
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