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GAIN Capital Reports Second Quarter 2019 Results

BEDMINSTER, N.J., July 25, 2019 /PRNewswire/ -- GAIN Capital Holdings, Inc. ("GAIN") (NYSE: GCAP), a leading global provider of online trading services, announced financial results for the second quarter of 2019.


Key Financial Results for the Second Quarter 2019 (all amounts reflect continuing operations)
GAAP net income of $0.9 million, or earnings of $0.02 per share
GAAP net revenue of $75.5 million
Adjusted net income of $3.6 million, or earnings of $0.10 per share
Adjusted EBITDA of $13.0 million

Operating Highlights
New direct accounts increased 83% year-over-year and 5% quarter-over-quarter; fourth consecutive quarter of new growth
Pockets of volatility in the British Pound and major indices increased in revenue capture to $130 per million, 18% above the trailing twelve month average of $110 per million

A summary of GAIN’s financial highlights is included in the chart below (all amounts are from continuing operations).
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2019
 
2018
 
2019
 
2018
Net Income/(Loss)
$
0.9

 
$
6.8

 
$
(27.4
)
 
$
18.7

Adjusted Net Income/(Loss) (1)
$
3.6

 
$
4.4

 
$
(26.5
)
 
$
17.9

 
 
 
 
 
 
 
 
Net Revenue
$
75.5

 
$
84.2

 
$
113.9

 
$
182.5

Operating Expenses(2)
(62.5
)
 
(65.3
)
 
(124.4
)
 
(131.7
)
Adjusted EBITDA(1)
$
13.0

 
$
18.9

 
$
(10.4
)
 
$
50.8

 
 
 
 
 
 
 
 
Diluted GAAP EPS
$
0.02

 
$
0.13

 
$
(0.73
)
 
$
0.38

Adjusted EPS(1)
$
0.10

 
$
0.10

 
$
(0.71
)
 
$
0.39

___________________________________
Note: Dollars in millions, except per share amounts and where noted otherwise. Columns may not add due to rounding.
1See below for reconciliation of non-GAAP financial measures.
2Operating Expenses excludes Depreciation and Amortization, Purchased Intangible Amortization, and certain one-off costs


“Q2 results, while mixed, showed positive signs of increased client engagement which will benefit GAIN and drive trading revenue upon the return of market volatility," commented Glenn Stevens, Chief Executive Officer of GAIN Capital. "Market conditions remained challenging during the second quarter and the Eurodollar, our most traded product, was even more tightly


The following information was filed by Gain Capital Holdings, Inc. (GCAP) on Thursday, July 25, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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