MARKETAXESS HOLDINGS INC
For the period ended Sep 30, 2025. Filed Nov 7, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Nov 7, 2025
MKTX$165.59+0.0%Stored close · as of Nov 6, 2026
Contents
Item 1. Consolidated Statements of Operations for the Three and Nine Months Ended September 30, 2025 and 2024
| Three Months Ended September 30, | Nine Months Ended September 30, | |||
|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | |
| (In thousands, except per share amounts) | ||||
| Revenues | ||||
| Commissions | $180,171 | $180,392 | $553,284 | $536,944 |
| Information services | 13,785 | 12,960 | 39,776 | 37,385 |
| Post-trade services | 11,293 | 10,382 | 33,457 | 31,512 |
| Technology services | 3,572 | 2,981 | 10,342 | 8,852 |
| Total revenues | 208,821 | 206,715 | 636,859 | 614,693 |
| Expenses | ||||
| Employee compensation and benefits | 59,982 | 58,431 | 187,135 | 176,485 |
| Depreciation and amortization | 19,662 | 18,728 | 57,093 | 55,284 |
| Technology and communications | 19,961 | 18,553 | 57,430 | 53,375 |
| Professional and consulting fees | 7,382 | 6,989 | 20,982 | 21,053 |
| Occupancy | 3,859 | 3,835 | 11,234 | 10,974 |
| Marketing and advertising | 2,349 | 2,898 | 7,362 | 7,741 |
| Clearing costs | 3,948 | 4,387 | 12,580 | 13,420 |
| General and administrative | 6,099 | 5,839 | 17,218 | 15,467 |
| Total expenses | 123,242 | 119,660 | 371,034 | 353,799 |
| Operating income | 85,579 | 87,055 | 265,825 | 260,894 |
| Other income (expense) | ||||
| Interest income | 5,850 | 6,953 | 18,949 | 19,327 |
| Interest expense | (171) | (346) | (523) | (1,283) |
| Equity in earnings of unconsolidated affiliate | — | 340 | 457 | 1,064 |
| Other, net | 2,381 | (1,105) | 2,501 | (4,051) |
| Total other income (expense) | 8,060 | 5,842 | 21,384 | 15,057 |
| Income before income taxes | 93,639 | 92,897 | 287,209 | 275,951 |
| Provision for income taxes | 25,366 | 21,408 | 132,691 | 66,909 |
| Net income | $68,273 | $71,489 | $154,518 | $209,042 |
| Less: income attributable to redeemable noncontrolling interest | (97) | — | (128) | — |
| Net income available for common stockholders | $68,176 | $71,489 | $154,390 | $209,042 |
| Net income per common share | ||||
| Basic | $1.84 | $1.90 | $4.15 | $5.55 |
| Diluted | $1.84 | $1.90 | $4.14 | $5.55 |
| Cash dividends declared per common share | $0.76 | $0.74 | $2.28 | $2.22 |
| Weighted average shares outstanding | ||||
| Basic | 37,023 | 37,527 | 37,207 | 37,641 |
| Diluted | 37,109 | 37,608 | 37,288 | 37,696 |
| The accompanying notes are an integral part of these consolidated financial statements. | ||||
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
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