Freetrade reported adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) of £100,000 ($124,863) in the first quarter of 2024, according to unaudited financial statements shared with CNBC.
Freetrade still generated a loss of £8.3 million in 2023, down from the £28.8 million loss it racked up the year before.
"We defied difficult market conditions and delivered healthy growth in 2023 while dramatically reducing losses" in 2022, said Adam Dodds, CEO and founder of Freetrade.
Net inflows totalled £130 million in the first quarter, too, as retail investor activity grew in response to resurgent markets last year.
Equity markets saw serious drops in 2022 as a result of macroeconomic uncertainty and higher interest rates stoked by Russia's full-fledged invasion of Ukraine, which triggered a risk-off trade around the world.
Persons:
Rafael Henrique, Freetrade, Adam Dodds, who've, Dodds, we've, Russia's
Organizations:
Getty, CNBC, Freetrade, Equity
Locations:
Ukraine