• Futu Holdings average gross margin for 2023 was 86.09%, a 0.25% decline from 2022.
• Futu Holdings average gross margin for 2022 was 86.31%, a 0.62% decline from 2021.
• Futu Holdings average gross margin for 2021 was 86.85%, a 13.15% decline from 2020.

Gross margin can be defined as a company's total sales revenue minus its cost of goods sold, divided by the total sales revenue, expressed as a percentage.