The financials
Miami International Holdings, Inc. by the numbers
Miami International Holdings, Inc. (MIAX) reported revenue of $370M in Q1 2026 (quarter ended March 31, 2026), up 13% from the same quarter a year earlier. That came with a gross margin of 35% and net income of $170M (46% of revenue). For the full year FY2025, revenue was $1.36B (+20% year on year) and net income −$70M. Its largest product in 2026-Q1 was Transaction And Clearing Fees at $315M, 85% of the disclosed total, just ahead of Access Fees at 9.0%.
| Income statement | Q1 2026 | Q1 2025 | Change |
|---|---|---|---|
| Revenue | $370M | $327M | +13% |
| Gross profit | $129M | $92M | +40% |
| Operating income | $46M | $22M | +106% |
| Net income | $170M | −$21M | to a profit |
| Diluted EPS | $1.56 | −$0.34 | to a profit |
| Product | Revenue | Share |
|---|---|---|
| Transaction And Clearing Fees | $315M | 85% |
| Access Fees | $33M | 9.0% |
| Market Data Fees | $13M | 3.5% |
| Product And Service Other | $8.0M | 2.2% |
Business Segments
Revenue split by product segment, from SEC XBRL filings.
Latest period: Q1 2026Total $369.7M (+8.8%)
Segment Latestquarter on quarteryear on year
- Transaction And Clearing Fees$315.4M$315.4MQoQ +7.7%year on year +9.0%+7.7%+9.0%
- Access Fees$33.4M$33.4MQoQ +23%year on year +39%+23%+39%
- Market Data Fees$13.0M$13.0MQoQ +21%year on year +34%+21%+34%
- Product And Service Other$8.0M$8.0MQoQ -13%year on year +97%-13%+97%
Capital Markets
Ranks #36 of 40 by Smart Score