Quarterly ResultAug 5, 2026, 04:23 PM
MIAX Q2 Net Revenue $141.1M (+35% YoY); Adj. EBITDA $76.8M
AI Summary
MIAX reported strong financial results for the second quarter of 2026, achieving record net revenue of $141.1 million, a 35% increase year-over-year. The company's adjusted EBITDA grew 57% to $76.8 million, with an expanded margin of 54%. This performance was driven by a robust options business, which saw a 25% year-over-year increase in average daily volume. MIAX also updated its full-year 2026 expense guidance, lowering the range for adjusted operating expenses.
Key Highlights
- Q2 Net revenue reached a record $141.1 million, up 35% year-over-year.
- Adjusted EBITDA increased 57% to $76.8 million, with a 54% margin.
- Adjusted diluted EPS was $0.48.
- Options business average daily volume rose 25% YoY to 11.0 million contracts.
- Options segment net revenue grew 34% to $124.4 million.
- International segment net revenue surged 151% to $5.7 million, driven by TISE acquisition.
- Updated full-year 2026 adjusted operating expense guidance to $260 million-$270 million.
- Cash and cash equivalents stood at $660.5 million as of June 30, 2026.
Price Impact
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