The financials
Miami International Holdings, Inc. by the numbers
Miami International Holdings, Inc. (MIAX) reported revenue of $370M in Q1 2026 (quarter ended Mar 31, 2026), up 13% from the same quarter a year earlier. That came with a gross margin of 35% and net income of $170M (46% of revenue). For the full year FY2025, revenue was $1.36B (+20% year on year) and net income −$70M. Its largest product in Jun 2026 was Transaction And Clearing Fees at $332M, 86% of the disclosed total, well ahead of Access Fees at 9.0%.
| Income statement | Q1 2026 | Q1 2025 | Change |
|---|---|---|---|
| Revenue | $370M | $327M | +13% |
| Gross profit | $129M | $92M | +40% |
| Operating income | $46M | $22M | +106% |
| Net income | $170M | −$21M | to a profit |
| Diluted EPS | $1.56 | −$0.34 | to a profit |
| Product | Revenue | Share |
|---|---|---|
| Transaction And Clearing Fees | $332M | 86% |
| Access Fees | $35M | 9.0% |
| Market Data Fees | $12M | 3.1% |
| Product And Service Other | $8.6M | 2.2% |
Business Segments
Revenue split by product segment, from SEC XBRL filings.
Latest period: Jun 2026Total $387.6M (+4.9%)
Product And Service Other grew +63% year on yearTransaction And Clearing Fees +16% year on year
Segment Latestquarter on quarteryear on year
- Transaction And Clearing Fees$331.9M$331.9MQoQ +5.2%year on year +16%+5.2%+16%
- Access Fees$34.9M$34.9MQoQ +4.7%year on year +34%+4.7%+34%
- Market Data Fees$12.2M$12.2MQoQ -5.8%year on year +19%-5.8%+19%
- Product And Service Other$8.6M$8.6MQoQ +7.9%year on year +63%+7.9%+63%
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