This webcast is being recorded and will be available for replay in the Investors section of etoro's website. Our earnings press release, investor presentation, and July monthly spreadsheet is now available on our website at investors.etoro.com. Today, I'm joined by Yoni Assia, our CEO; and by Meron Shani, our CFO.
Following the prepared remarks, we will conduct a Q&A session and answer questions from both institutional research analysts and a selection of the most upvoted questions previously submitted by etoro's retail shareholders. But before we begin, I want to note that today's discussion contains forward-looking statements, including statements about goals, business outlook, industry trends, market opportunities, expectations for future financial performance and similar items, all of which are subject to risks, uncertainties, and assumptions. And you can find more information about these risks and uncertainties in the press release that we issued today and in the Risk Factors section at our filings at SEC.gov.
Actual results may differ, and we take no obligation to revise or update any forward-looking statements. Finally, during today's meeting, we will discuss non-GAAP financial measures. These non-GAAP financial measures are in addition to and not a substitute for or superior to measures of financial performance prepared in accordance with GAAP.
Definitions and reconciliation of GAAP to non-GAAP measures is available in our press release, investor presentation, and on the SEC.gov website as applicable. With that, I will pass the call to Yoni. Jonathan Assia: Thank you, Daniel, and thank you to everyone joining us today.
Welcome to etoro's Second Quarter 2026 Earnings Call. After Meron and I conclude our prepared remarks, we'll open the call for your questions. We delivered another strong quarter, demonstrating the strength of our diversified business model.
One of etoro's key differentiators is our ability to perform across a wide range of market environments, and the second quarter was another example of that. As investor activity shifted from commodities to equities, our platform continued to deliver strong results, underscoring the value of offering users access to multiple asset classes through a single platform. Net contribution increased 9% year-over-year to $229 million and adjusted EBITDA grew 9% to $78 million.
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