Miami International Holdings Posts 20% Revenue Gain in Q3 2026
The exchange operator reported $131M in net revenue and a 47% jump in adjusted EBITDA, lifting its full-year expense outlook.
Miami International Holdings reported third-quarter 2026 net revenue of $131 million, a 20% increase from the same period a year earlier, the Princeton, N.J.- and Miami-based exchange operator announced Wednesday.
Adjusted EBITDA climbed 47% year-over-year to $71 million, pushing the adjusted EBITDA margin to 54% — an improvement of more than 1,000 basis points compared with the prior-year quarter, signaling substantially stronger operating leverage across the business.
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On a per-share basis, GAAP diluted earnings came in at $0.47, while adjusted diluted EPS stood at $0.45. The spread between the two metrics was narrow, suggesting limited one-time adjustments during the quarter.
Alongside the earnings release, management updated its full-year 2026 expense guidance, though the direction of that revision was not specified in the announcement. Investors will likely look to the company's earnings call for elaboration on cost trajectory and the drivers behind the sharp margin expansion.
The results underscore continued momentum for the exchange holding company, which operates equity and options markets competing against larger incumbent exchanges. Continue reading at Earnings.
