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MIAXBullishEarningsnews
High materiality7/10

MIAX Q3 2026 results show growth, margin expansion, and updated guidance

Oct 29, 2026, 4:18 PM EDT1 sourcesAI-analyzed
Why it may matterVerify against the original reporting

Strong Q3 profitability, higher share of options market, and updated, favorable cost guidance support a positive re-rating. Historically, mid-cycle earnings beats paired with clear growth levers (new product launches, platform integrations) have driven multiple expansion for exchange operators and financial tech peers. The addition of futures products and international markets could sustain margin discipline and revenue growth, reinforcing upside potential into 2027.

AI summary

What happened, with direct paths to the underlying reporting

MIAX reported Q3 2026 net revenue of $131.0M, up 20% YoY, with adjusted EBITDA of $70.8M and a 54% margin. Options ADTV rose 11.1M contracts, capturing 17.4% market share. The company updated 2026 expense guidance, signaling discipline while pursuing growth through new futures products and international expansion.

  • Q3 2026 net revenue $131.0M, up 20% YoY; adjusted EBITDA $70.8M, 54% margin.
  • Options ADTV rose 15% to 11.1M contracts; market share at 17.4%.
  • FY2026 OpEx guidance updated to $254–$257M; capex $43–$46M; tax rate 26–28%.
  • Bloomberg index futures now on NinjaTrader; four fertilizer futures launched.
  • Cash $698.9M; total debt $1.5M; leadership optimistic on growth runway.

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StockNews.AI groups source reporting, classifies the event, and measures subsequent price movement. This is informational research, not investment advice. Prices may be delayed or unavailable.

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