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  "documentTitle": "eToro | Results Presentation Deck | 39 slides",
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      "text": "As part of our mission to empower people to grow their knowledge and wealth, we recently launched the eToro Academy. Our online education hub provides users of all levels of investing experience with free resources across multiple channels to improve their understanding of financial markets.",
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      "text": "We are thankful for your support, and look forward to continued success in 2021 and beyond.",
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      "text": "eToro is on track to hit our 2021 forecast supported by a strong second quarter. We remain focused on growth rather than short term profitability and have therefore continued to reinvest income across our marketing channels and in the continued expansion of our product offering and global presence.",
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      "text": "Net income was negative $89 million primarily due to a non-cash charge of $71 million in stock-based compensation for eToro employees and $36 million of transaction costs related to the business combination with FTCV. Adjusted EBITDA was $33 million for the second quarter of 2021.",
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      "text": "Looking beyond the Q2 numbers, the volume of new users joining eToro and overall trading activity on the platform has slowed to date in the third quarter compared to the all time highs of H1 2021. We were conservative when we prepared our forecast and anticipated varied market conditions and retail investor behavior.",
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