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MIAMI INTERNATIONAL HOLDINGS, INC.

For the period ended Sep 30, 2025. Filed Nov 7, 2025.

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About this filing

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

MIAX$35.13+1.9%Stored close · as of Nov 9, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Table of Contents

Page
Part I - Financial Information4
Item 1. Financial Statements (unaudited)4
Condensed Consolidated Balance Sheets - As of September 30, 2025 and December 31, 20246
Condensed Consolidated Statements of Operations - Three and Nine Months Ended September 30, 2025 and 20247
Condensed Consolidated Statements of Comprehensive Income - Three and Nine Months Ended September 30, 2025 and 20248
Condensed Consolidated Statements of Changes in Stockholders’ Equity - Three and Nine Months Ended September 30, 2025 and 20249
Condensed Consolidated Statements of Cash Flows - Nine Months Ended September 30, 2025 and 202411
Notes to Condensed Consolidated Financial Statements13
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations53
Item 3. Quantitative and Qualitative Disclosures About Market Risk95
Item 4. Controls and Procedures98
Part II - Other Information99
Item 1. Legal Proceedings99
Item 1A. Risk Factors100
Item 2. Recent Sales of Unregistered Securities and Use of Proceeds139
Item 3. Defaults Upon Senior Securities140
Item 4. Mine Safety Disclosures140
Item 5. Other Information140
Item 6. Exhibits142
Signatures145

TRADEMARK AND OTHER INFORMATION

We own MIAX®, MIAX Options®, MIAX Pearl®, MIAX Emerald® and MIAX Sapphire® as trademarks or service marks in the United States and certain other jurisdictions. MIAX Futures™ and TINI™ are currently pending.

This Quarterly Report on Form 10-Q contains references to our trademarks and service marks and to those belonging to other entities. Solely for convenience, trademarks and trade names referred to in this Quarterly Report, including logos, artwork, and other visual displays, may appear without the® or ™ symbols, but in the case of our trademarks and trade names or those of our licensors, such references are not intended to indicate in any way that we will not assert, to the fullest extent under applicable law, our rights or the rights of the applicable licensor to these trademarks and trade names. We do not intend our use or display of other entities’ trade names, trademarks, or service marks to imply a relationship with, or endorsement or sponsorship of us by, any other entity.

This Quarterly Report on Form 10-Q contains estimates and information concerning our industry, including market position, market size and growth rates of the markets in which we participate, that are based on industry publications and reports. This information involves a number of assumptions and limitations, and you are cautioned not to give undue weight to these estimates. Although we are responsible for all of the disclosure contained in this Quarterly Report on Form 10-Q and we believe the information from the industry publications and other third-party sources included in this Quarterly Report on Form 10-Q is reliable, we have not independently verified the accuracy or completeness of the data contained in such sources. Similarly, while we believe our management estimates to be reasonable, they have not been verified by any independent sources. Forecasts and other forward-looking information with respect to industry are subject to the same qualifications and additional uncertainties regarding the other forward-looking statements in this Quarterly Report on Form 10-Q. See the section titled “Special Note Regarding Forward-Looking Statements.” The industry in which we operate is subject to a high degree of uncertainty and risk due to a variety of factors, including those described in the section titled “Risk Factors” in Part II, Item 1A of this Quarterly Report on Form 10-Q and our other filings with the Securities and Exchange Commission (“SEC”). These and other factors could cause results to differ materially from those expressed in these publications and reports.

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.