0001628280-26-032565
SEC filingMIAMI INTERNATIONAL HOLDINGS, INC. reported Q1 FY2026 revenue of $369.7M and net income of $170.2M, reflecting solid core operations with gross margin of 34.8% and strong free cash flow generation of $49.2M amid one-time boosts.
MIAMI INTERNATIONAL HOLDINGS, INC. delivered Q1 FY2026 results reflecting resilient exchange operations. Revenue totaled $369.7 million, with gross profit of $128.6 million achieving a 34.8% margin. This efficiency stems from the company's ability to manage cost of revenues effectively relative to topline growth from trading activities. Operating income reached $46.0 million, representing a 12.4% operating margin, as operating expenses were controlled amid ongoing platform investments.
Net income stood at $170.2 million, or $1.56 diluted EPS, highlighting the impact of non-operating factors on headline results alongside core profitability. Cash generation remained robust, with net cash provided by operating activities at $60.9 million. After capital expenditures of $11.7 million, free cash flow was $49.2 million, providing liquidity for strategic initiatives and shareholder returns.
Operationally, the SEC's September 30, 2025 order enables SRO participants to reduce CAT operating costs while preserving core regulatory functionality, potentially easing expense pressures. The company maintains financial resources including unencumbered liquid assets or committed credit facilities covering at least six months of projected operating costs, ensuring regulatory compliance and stability. These elements position MIAMI INTERNATIONAL HOLDINGS, INC. to navigate competitive exchange markets effectively.