MIAMI INTERNATIONAL HOLDINGS, INC. MIAX

Financials SIC 6211 - Security Brokers, Dealers & Flotation Companies NAICS Finance and Insurance › Securities, Commodity Contracts, and Other Financial Investments and Related Activities › Securities and Commodity Contracts Intermediation and Brokerage › Investment Banking and Securities Intermediation derived NYSE

We are a technology-driven leader in building and operating regulated financial marketplaces across multiple asset classes and geographies. Our MIAX Exchanges, MIAX Futures Exchange and Bermuda Stock Exchange marketplaces are enabled by our in-house built, proprietary technology. We believe the speed and performance of our proprietary technology coupled with our fully integrated, award-winning customer service, sets us apart from our competitors.

Our MIAX Exchange trading platform was originally built to meet the high-performance quoting demands of the U.S. options trading industry. We are regarded as a market leader relative to many of our peers with respect to our technology, based on feedback from our customers. We differentiate our trading platform with our throughput, latency, reliability and wire-order determinism.

Last close 33.98 2026-10-23
Market cap $3.37B 2026-06-30 share count
52-week range 29.06 - 57.14

Valuation FY2025 figures against the last close

P/S2.5x
P/E—
P/FCF23.2x
EV/EBITDA24.2x
Dividend yield—
Diluted EPS-1.00

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022
Revenue $1.36B$1.14B$1.04B—
Cost of revenue $933.5M$864.4M$808.5M—
Gross profit $430.5M$275.6M$232.5M—
Total operating expenses $338.6M$278.5M$235.3M—
Operating income $92.0M-$2.8M-$2.9M—
Interest expense $12.9M$14.0M$18.9M—
Pre-tax income -$68.6M$105.1M-$22.1M—
Income tax $1.4M$3.1M$697.0K—
Net income -$70.0M$102.1M-$20.9M—
EPS, basic -1.001.68-0.37—
EPS, diluted -1.001.39-0.37—
Shares, diluted (wtd. avg.) 69.8M74.6M56.5M—

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022
Cash and equivalents $433.6M$150.3M$59.3M$306.1M
Receivables $98.1M$92.4M——
Total current assets $855.2M$572.8M——
Property, plant and equipment $46.9M$44.5M——
Goodwill $62.2M$46.8M$46.8M—
Other intangibles $170.8M$114.2M$114.7M—
Total assets $1.26B$973.7M——
Accounts payable $8.3M$12.8M——
Short-term debt $1.5M$4.8M——
Total current liabilities $337.3M$405.2M——
Long-term debt $0$32.3M——
Total liabilities $378.4M$606.0M——
Retained earnings -$632.3M-$562.3M——
Total equity $881.0M$367.6M$163.8M-$107.0K

Cash flow

Fiscal year FY2025FY2024FY2023FY2022
Operating cash flow $167.8M$111.4M-$49.2M—
Depreciation and amortisation $29.4M$23.4M$21.0M—
Stock-based compensation $57.6M$43.6M$30.0M—
Capital expenditure $22.8M$26.7M$16.2M—
Investing cash flow -$101.3M-$40.6M-$64.1M—
Financing cash flow $214.8M$29.4M-$16.6M—
Buybacks $21.8M$12.4M$3.3M—

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001628280-26-027312.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -500M 0 500M 1B 1.5B Revenue, FY2023: 1B Gross profit, FY2023: 232.5M Net income, FY2023: -20.9M Revenue, FY2024: 1.1B Gross profit, FY2024: 275.6M Net income, FY2024: 102.1M Revenue, FY2025: 1.4B Gross profit, FY2025: 430.5M Net income, FY2025: -70M FY2022 FY2023 FY2024 FY2025
Fiscal year FY2022FY2023FY2024FY2025
Revenue — $1.04B $1.14B $1.36B
Gross profit — $232.5M $275.6M $430.5M
Net income — -$20.9M $102.1M -$70.0M

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Unregistered share sale Shares issued outside a registered offering. Dilution, and for a small company often the way it is funded. Item 3.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Results announced Item 2.02
  • Officer or director change Item 5.02
  • Officer or director change Item 5.02
  • Officer or director change Item 5.02
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Unregistered share sale Item 3.02
  • Results announced Item 2.02

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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