MIAX reported Q4 2025 net revenue (revenues less cost of revenues) of USD 124.5 million (+52%) and operating income of USD 42.7 million (+496%). GAAP net income attributable to stockholders was USD 29.9 million (+936%), with GAAP diluted EPS of USD 0.27. Adjusted EBITDA was USD 62.2 million (more than doubled), and adjusted diluted EPS was USD 0.52; adjusted EBITDA margin was 50% (up from 36%). For FY 2025, MIAX posted net revenue of USD 430.5 million (+56%) and adjusted EBITDA of USD 199.1 million (up 143%), while GAAP diluted EPS was (USD 1.00) and adjusted diluted EPS was USD 1.82. In business updates, MIAX said it closed a secondary public offering of 7.8 million shares at USD 41.00 per share (entirely secondary shares). MIAX options exchanges reached record Q4 average daily volume of 11.1 million contracts (+46.5%) and market share of 18.2% (+14.5%). The company also completed the sale of 90% of MIAXdx in January 2026, retaining 10% (now known as Rothera Exchange and Clearing LLC), and highlighted the launch of the MIAX Sapphire options trading floor in Miami and the MIAX Futures Onyx trading platform, as well as the completion of its acquisition of TISE. MIAX also set FY 2026 guidance including adjusted operating expenses of USD 265 million to USD 275 million and capital expenditures of USD 40 million to USD 45 million.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Miami International Holdings Inc. published the original content used to generate this news brief via PR Newswire (Ref. ID: 202602251610PR_NEWS_USPR_____PH95925) on February 25, 2026, and is solely responsible for the information contained therein.
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