MIAMI INTERNATIONAL HOLDINGS, INC.'s income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), MIAMI INTERNATIONAL HOLDINGS, INC. reported revenue of $1.4B and net income of ($70.0M).
| Line item | Dec 31, 2025 · FY |
|---|---|
| Total revenues | $1.4B |
| Liquidity payments | $837.9M |
| Brokerage, clearing, and exchange fees | $55.3M |
| Section 31 fees | $35.2M |
| Equity rights program | $0 |
| Other cost of revenues | $5.2M |
| Total cost of revenues | $933.5M |
| Revenues less cost of revenues | $430.5M |
| Compensation and benefits | $188.3M |
| Information technology and communication costs | $35.4M |
| Depreciation and amortization | $29.4M |
| Occupancy costs | $12.0M |
| Professional fees and outside services | $42.8M |
| Marketing and business development | $2.8M |
| Acquisition-related costs | $2.9M |
| General, administrative, and other | $25.1M |
| Total operating expenses | $338.6M |
| Operating income (loss) | $92.0M |
| Change in fair value of warrants on puttable shares & puttable common stock | -2.2M |
| Loss on extinguishment of puttable common stock liability | $0 |
| Change in fair value of puttable warrants issued with debt | ($1.2M) |
| Interest income | $9.4M |
| Interest expense and amortization of debt issuance costs | ($12.9M) |
| Impairment of investment | $0 |
| Gain (loss) on intangible asset | ($2.1M) |
| Unrealized gain (loss) on derivative assets | ($54.9M) |
| Loss on debt extinguishment | ($107.7M) |
| Other, net | $11.0M |
| Income (loss) before income tax provision | ($68.6M) |
| Income tax benefit (expense) | ($1.4M) |
| Net income (loss) | ($70.0M) |
| Net loss attributable to non-controlling interest | $0 |
| Net income (loss) attributable to Miami International Holdings, Inc. | ($70.0M) |
| Basic (in shares) | 69.8M |
| Diluted (in shares) | 69.8M |
| Basic (in dollars per share) | -$1.00 |
| Diluted (in dollars per share) | -$1.00 |
| Line item | Jun 30, 2026 · Q2 | Mar 31, 2026 · Q1 | Sep 30, 2025 · Q3 |
|---|---|---|---|
| Total revenues | $387.6M | $369.7M | $339.8M |
| Liquidity payments | $206.6M | $223.5M | $217.3M |
| Brokerage, clearing, and exchange fees | $15.4M | $16.3M | $11.6M |
| Section 31 fees | $23.0M | $0 | $0 |
| Other cost of revenues | $1.5M | $1.3M | $1.4M |
| Total cost of revenues | $246.5M | $241.1M | $230.3M |
| Revenues less cost of revenues | $141.1M | $128.6M | $109.5M |
| Compensation and benefits | $41.0M | $44.4M | $68.8M |
| Information technology and communication costs | $10.2M | $9.5M | $9.3M |
| Depreciation and amortization | $8.8M | $8.1M | $8.2M |
| Occupancy costs | $3.0M | $3.2M | $3.6M |
| Professional fees and outside services | $11.4M | $11.4M | $10.8M |
| Marketing and business development | $3.2M | $984.0K | $759.0K |
| Acquisition-related costs | $0 | $0 | $0 |
| Litigation settlement | $30.0M | — | — |
| General, administrative, and other | $5.8M | $5.0M | $8.4M |
| Total operating expenses | $113.3M | $82.6M | $109.8M |
| Operating income | $27.8M | $46.0M | ($305.0K) |
| Change in fair value of puttable common stock | $0 | $0 | ($338.0K) |
| Change in fair value of puttable warrants issued with debt | $0 | $0 | ($255.0K) |
| Interest income | $5.3M | $4.4M | $2.7M |
| Interest expense and amortization of debt issuance costs | ($44.0K) | ($45.0K) | ($3.4M) |
| Loss on sale of intangible assets | $0 | — | $0 |
| Unrealized loss on derivative and digital assets | ($337.0K) | — | — |
| Gain on sale of business | $23.0K | $50.5M | — |
| Other, net | ($3.9M) | $1.7M | ($1.6M) |
| Income before income tax provision | $28.8M | $100.0M | ($102.9M) |
| Income tax benefit (expense) | $15.4M | $70.2M | $810.0K |
| Net income attributable to Miami International Holdings, Inc. | $44.2M | $170.2M | ($102.1M) |
| Basic (in shares) | 95.3M | 91.8M | 70.1M |
| Diluted (in shares) | 110.7M | 109.2M | 70.1M |
| Basic (in dollars per share) | $0.46 | $1.85 | -$1.46 |
| Diluted (in dollars per share) | $0.40 | $1.56 | -$1.46 |
| Line item | Dec 31, 2025 · FY |
|---|---|
| Cash and cash equivalents | $433.6M |
| Cash and securities segregated under federal and other regulations | $27.6M |
| Accounts receivable, net | $98.1M |
| Restricted cash | $6.0M |
| Clearing house performance bonds and guarantee funds | $70.1M |
| Receivables from broker-dealers, futures commission merchants, and clearing organizations | $133.5M |
| Current portion of derivative assets | $6.0M |
| Other current assets | $39.2M |
| Assets held for sale | $41.0M |
| Total current assets | $855.2M |
| Investments | $19.2M |
| Fixed assets, net | $46.9M |
| Internally developed software, net | $36.3M |
| Goodwill | $62.2M |
| Other intangible assets, net | $170.8M |
| Derivative assets, net of current portion | $5.1M |
| Other assets, net | $63.7M |
| Total assets | $1.3B |
| Accounts payable and other liabilities | $69.8M |
| Accrued compensation payable | $39.4M |
| Current portion of long-term debt | $1.5M |
| Deferred transaction revenues | $9.6M |
| Clearing house performance bonds and guarantee funds | $69.6M |
| Participant margin deposits | $0 |
| Payables to customers | $144.6M |
| Payables to clearing organizations | $11.0K |
| Liabilities held for sale | $2.8M |
| Total current liabilities | $337.3M |
| Long-term debt | $0 |
| Deferred income taxes | $22.4M |
| Puttable common stock, net of current portion | $0 |
| Puttable warrants issued with debt | $0 |
| Other non-current liabilities | $18.8M |
| Total liabilities | $378.4M |
| Commitments and contingencies (Note 16) | $0 |
| Convertible preferred stock - par value $0.001 (25,000,000 authorized, and 0 issued and outstanding at December 31, 2025 and 781,859 issued and outstanding at December 31, 2024) | $0 |
| Common stock - voting and nonvoting, par value $0.001 (600,000,000 authorized (400,000,000 voting, 200,000,000 nonvoting); 85,890,287 issued and 85,536,287 outstanding common stock at December 31, 2025 (85,536,287 voting, 0 nonvoting) and 63,219,480 issued and 63,181,011 outstanding non-puttable common stock at December 31, 2024 (59,683,661 voting, 3,497,350 nonnvoting)) | $86.0K |
| Common stock in treasury, at cost, 353799 shares at December 31, 2025 and 38,469 shares at December 31, 2024 | -8.2M |
| Additional paid-in capital | $1.5B |
| Accumulated deficit | ($632.3M) |
| Accumulated other comprehensive loss, net | ($641.0K) |
| Total stockholders’ equity | $881.0M |
| Total liabilities and stockholders' equity | $1.3B |
| Line item | Jun 30, 2026 | Mar 31, 2026 | Sep 30, 2025 |
|---|---|---|---|
| Cash and cash equivalents | $660.5M | $550.8M | $401.5M |
| Cash and securities segregated under federal and other regulations | $26.9M | $26.8M | $29.5M |
| Accounts receivable, net | $119.9M | $106.8M | $99.9M |
| Restricted cash | $13.7M | $14.4M | $6.0M |
| Clearing house performance bonds and guarantee funds | $103.3M | $78.7M | $86.2M |
| Receivables from broker-dealers, futures commission merchants, and clearing organizations | $138.3M | $149.3M | $123.3M |
| Current portion of derivative assets | $3.8M | $4.7M | $14.1M |
| Other current assets | $36.2M | $39.8M | $30.5M |
| Assets held for sale | $0 | $0 | — |
| Total current assets | $1.1B | $971.4M | $792.0M |
| Investments | $28.9M | $29.2M | $14.2M |
| Fixed assets and internally developed software, net | $100.5M | $53.5M | $47.9M |
| Goodwill | $61.9M | $61.9M | $64.7M |
| Other intangible assets, net | $169.0M | $169.2M | $189.1M |
| Deferred tax asset, net | $74.4M | $59.7M | — |
| Derivative assets, net of current portion | $0 | $3.9M | $13.0M |
| Other assets, net | $63.1M | $59.0M | $68.4M |
| Total assets | $1.6B | $1.4B | $1.2B |
| Accounts payable and other liabilities | $135.9M | $84.0M | $81.8M |
| Accrued compensation payable | $27.1M | $19.6M | $31.9M |
| Current portion of long-term debt | $1.5M | $1.5M | $5.0M |
| Deferred transaction revenues | $9.2M | $10.4M | $9.2M |
| Clearing house performance bonds and guarantee funds | $102.8M | $78.2M | $85.7M |
| Payables to customers | $140.9M | $153.1M | $133.9M |
| Payables to clearing organizations | $5.7M | $4.1M | $745.0K |
| Liabilities held for sale | $0 | $0 | — |
| Total current liabilities | $423.2M | $350.9M | $349.3M |
| Deferred income taxes | $10.9M | $10.9M | $22.0M |
| Other non-current liabilities | $16.1M | $16.9M | $20.6M |
| Total liabilities | $450.1M | $378.6M | $393.4M |
| Commitments and contingencies (Note 15) | $0 | $0 | $0 |
| Common stock - voting and nonvoting, par value $0.001 (600,000,000 authorized (400,000,000 voting, 200,000,000 nonvoting); XX issued and outstanding common stock at June 30, 2026 (XX voting, 0 nonvoting), 85,890,086 issued and 85,536,287 outstanding common stock at December 31, 2025 (85,536,287 voting, 0 nonvoting) | $99.0K | $95.0K | $82.0K |
| Common stock in treasury, at cost, 353,799 shares at September 30, 2025 and 38,469 shares at December 31, 2024 | -18.3M | -14.5M | -8.2M |
| Additional paid-in capital | $1.6B | $1.5B | $1.5B |
| Accumulated deficit | ($417.9M) | ($462.1M) | ($662.3M) |
| Accumulated other comprehensive loss, net | ($2.2M) | ($2.4M) | ($631.0K) |
| Total stockholders’ equity | $1.2B | $1.1B | $831.9M |
| Total liabilities and stockholders’ equity | $1.6B | $1.4B | $1.2B |
| Line item | Dec 31, 2025 · FY |
|---|---|
| Net income (loss) | ($70.0M) |
| Amortization of debt discount and issue cost | $3.0M |
| Amortization of beneficial conversion | $0 |
| Settlement of interest payable in common stock | $204.0K |
| Depreciation and amortization | $29.4M |
| Share based compensation expense | $57.6M |
| Provision for accounts receivable credit losses | $47.0K |
| Provision for deferred income taxes | $474.0K |
| Provision for notes receivable credit losses | $0 |
| Impairment of investments | $0 |
| Impairment of long-lived assets | $2.7M |
| Issuance of common stock in connection with extinguishment of puttable common stock liability | $0 |
| Settlement of induced conversion expense in common stock | $0 |
| Change in fair value puttable common stock | $2.2M |
| Change in fair value of puttable warrants issued with debt | $1.2M |
| Unrealized (gain) loss on equity securities owned | ($10.4M) |
| Realized loss on sale of intangible assets | $2.1M |
| Proceeds from sale of intangible assets | $16.2M |
| Unrealized (gain) loss on derivative assets | $54.9M |
| Loss on debt extinguishment | $107.7M |
| Warrant modifications | $1.5M |
| Other | ($860.0K) |
| Accounts receivable | ($4.5M) |
| Clearing house performance bonds and guarantee funds | ($17.7M) |
| Participant margin deposits | $277.0K |
| Receivables from broker-dealers, futures commission merchants, and clearing organizations | $13.6M |
| Other current assets | ($3.6M) |
| Other assets | $18.4M |
| Accounts payable and other liabilities | ($29.9M) |
| Accrued compensation payable | $6.2M |
| Other liabilities | ($3.4M) |
| Deferred transaction revenue | $1.2M |
| Payables to customers | ($8.0M) |
| Payables to clearing organizations | ($2.7M) |
| Net cash provided by (used in) operating activities | $167.8M |
| Capital expenditures | ($22.8M) |
| Capitalization of internally developed software | ($12.1M) |
| Purchases of investments | ($10.0M) |
| Cash paid for acquisitions, net of cash acquired | ($56.5M) |
| Net cash used in investing activities | ($101.3M) |
| Proceeds from issuance of common stock in connection with initial public offering, net of underwriting discounts and commissions and offering costs | $369.0M |
| Payment of IPO costs | ($3.4M) |
| Proceeds from debt issuance, net of debt discount | $36.9M |
| Puttable warrants issued with debt | $0 |
| Payment of debt issuance costs | ($2.0M) |
| Line item | Jun 30, 2026 · YTD | Mar 31, 2026 · Q1 | Sep 30, 2025 · YTD |
|---|---|---|---|
| Net income | $214.4M | $170.2M | — |
| Amortization of debt discount and issue cost | $5.0K | $3.0K | $3.0M |
| Settlement of interest payable in common stock | $61.0K | $61.0K | $0 |
| Depreciation and amortization | $16.9M | $8.1M | $21.3M |
| Share based compensation expense | $16.0M | $8.7M | $48.0M |
| Provision for accounts receivable credit losses | ($215.0K) | ($122.0K) | $103.0K |
| Provision for deferred income taxes | ($85.8M) | ($71.0M) | $83.0K |
| Impairment of long-lived assets | $0 | — | $2.7M |
| Change in fair value of puttable common stock | $0 | $0 | $2.2M |
| Change in fair value of puttable warrants issued with debt | $0 | $0 | $1.2M |
| Unrealized loss (gain) on equity securities owned | $2.6M | ($1.4M) | ($10.3M) |
| Loss on sale of intangible asset | $0 | — | — |
| Proceeds from sale of Pyth tokens | $0 | — | $16.2M |
| Unrealized loss on derivative and digital assets | $2.9M | — | — |
| Gain on sale of business | ($50.6M) | ($50.5M) | — |
| Other | $0 | — | ($821.0K) |
| Accounts receivable | ($21.9M) | ($8.7M) | ($6.3M) |
| Clearing house performance bonds and guarantee funds | $33.2M | $8.6M | ($1.5M) |
| Participant margin deposits | $0 | $0 | ($83.0K) |
| Receivables from broker-dealers, futures commission merchants, and clearing organizations | ($4.8M) | ($15.8M) | $23.9M |
| Other current assets | $2.9M | $666.0K | $354.0K |
| Other assets | $6.5M | $4.7M | $13.6M |
| Accounts payable and other liabilities | $65.9M | $14.2M | ($19.0M) |
| Accrued compensation payable | ($13.4M) | ($20.9M) | ($2.4M) |
| Other liabilities | ($3.8M) | ($1.9M) | ($1.6M) |
| Deferred transaction revenue | $820.0K | $946.0K | $806.0K |
| Payables to customers | ($3.7M) | $8.4M | ($18.8M) |
| Payables to clearing organizations | $5.7M | $4.1M | ($2.0M) |
| Net cash provided by operating activities | $183.6M | $60.9M | $120.8M |
| Capital expenditures | ($28.0M) | ($11.7M) | ($18.7M) |
| Capitalization of internally developed software | ($5.1M) | ($2.6M) | ($9.4M) |
| Return of capital from non-marketable equity securities | $500.0K | — | — |
| Proceeds from sale of business, net of cash and cash equivalents sold | $59.9M | — | — |
| Purchase of certificates of deposits | ($2.6M) | — | — |
| Purchases of investments | ($1.3M) | — | — |
| Proceeds from sale of business, net of cash and cash equivalents sold | $0 | $59.8M | ($56.5M) |
| Net cash provided by (used in) investing activities | $23.4M | $45.6M | ($84.5M) |
| Proceeds from debt issuance, net of debt discount and lender issuance costs | $0 | — | $36.9M |
| Payment of other debt issuance costs | $0 | — | ($2.0M) |
| Repayment of capital lease obligations | ($77.0K) | ($36.0K) | ($103.0K) |
| Repurchases of common stock from employee stock incentive plans | ($17.0M) | ($13.3M) | ($21.8M) |
| Proceeds from issuance of common stock and convertible preferred stock | $57.2M | $20.4M | $8.2M |
| Net cash provided by financing activities | $40.1M | $7.1M | $211.7M |
| Effect of exchange rate changes on cash and cash equivalents | ($431.0K) | ($433.0K) | ($84.0K) |
| Increase in cash, cash equivalents, segregated cash, and restricted cash | $246.7M | $113.1M | $248.0M |
MIAMI INTERNATIONAL HOLDINGS, INC. score and earnings-call analysis · All covered companies
Figures as reported in SEC filings. General information, not investment advice.