MIAX MIAMI INTERNATIONAL HOLDINGS, INC.
Price Chart
Executive Summary
MIAX reported Q1 2026 net revenue of $128.6M (+40% YoY) and adjusted EPS of $0.42, beating consensus of $0.36 by 17%. The company also reaffirmed its full-year adjusted operating expense guidance. Growth was driven by the options segment, while the futures segment declined. GAAP results included a $50.5M gain from the sale of MIAXdx and a $70.2M tax benefit from valuation allowance release.
Actionable Insight
Strong organic growth in options and improved profitability justify the beat. However, the futures segment remains a drag. The reaffirmed expense guidance provides stability but lacks top-line outlook. Watch for any intra-quarter guidance updates or further market share gains.
Key Facts
- Q1 2026 net revenue $128.6M, +40% YoY from $91.9M
- Adjusted diluted EPS $0.42 vs consensus $0.36, +16.7% beat
- Adjusted EBITDA $66.1M, +66% YoY; EBITDA margin 51% vs 43%
- Options net revenue $111.3M, +37% YoY; market share 17.3%
- Futures net revenue $4.6M, -21% YoY
- Cash and equivalents $550.8M, total debt $1.5M
- Reaffirmed FY2026 adjusted opex guidance $265M-$275M
Financial Impact
Net revenue $128.6M, adjusted EPS $0.42, EBITDA $66.1M
Risk Factors
- Declining futures segment revenue (-21% YoY)
- Dependence on options market volatility
- Potential dilution from increased share count (109.2M diluted shares)
Market Snapshot
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001628280-26-031291 |
| Document: miax-20260506.htm | 0001628280-26-031291 |
| Document: 0001628280-26-031291-index-headers.html | 0001628280-26-031291 |
| Document: 0001628280-26-031291-index.html | 0001628280-26-031291 |
| Document: 0001628280-26-031291.txt | 0001628280-26-031291 |
| 8-K Data (Synthetic) | 0001628280-26-031291 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
|
Jun 12, 2026
2d ago
|
Insider Cluster
| $43.34 awaiting T+20 | awaiting T+20 | — | $43.29 (−0.12%) |
|
Jun 11, 2026
3d ago
|
Institutional Cluster
| $40.78 awaiting T+20 | awaiting T+20 | — | $43.29 (+6.15%) |
|
Jun 11, 2026
3d ago
|
Institutional Cluster
| $40.78 awaiting T+20 | awaiting T+20 | — | $43.29 (+6.15%) |
|
Jun 4, 2026
10d ago
|
Insider Cluster
| $39.80 awaiting T+20 | awaiting T+20 | — | $43.29 (+8.77%) |
|
Jun 4, 2026
10d ago
|
Insider Cluster
| $39.80 awaiting T+20 | awaiting T+20 | — | $43.29 (−8.77%) |
|
Jun 4, 2026
10d ago
|
Insider Cluster
| $39.80 awaiting T+20 | awaiting T+20 | — | $43.29 (+8.77%) |
|
Jun 4, 2026
10d ago
|
Insider Cluster
| $39.80 awaiting T+20 | awaiting T+20 | — | $43.29 (+8.77%) |
|
May 6, 2026
5w ago
|
8-K
| $49.77 $40.33 | ▼ −18.97% | ▼ −22.10% | $43.29 (−13.02%) |
|
May 4, 2026
6w ago
|
Insider Cluster
| $47.31 $46.10 | ▼ −2.56% | ▼ −8.20% | $43.29 (−8.50%) |
|
May 4, 2026
6w ago
|
Insider Cluster
| $47.31 $46.10 | ▲ +2.56% | ▲ +8.20% | $43.29 (+8.50%) |
US Market Status
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Try SecBot Free Coming soon: SecBot Pro with alerts, watchlists, and API access