Miami International Holdings, Inc. ( (MIAX) ) has released its Q3 earnings. Here is a breakdown of the information Miami International Holdings, Inc. presented to its investors.
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Miami International Holdings, Inc. (MIH) is a technology-driven company that operates regulated financial markets across various asset classes, including options, equities, and futures, with a focus on providing advanced technology and risk protections.
In its third-quarter earnings report for 2025, Miami International Holdings announced a significant increase in net revenue, which grew by 57% year-over-year to $109.5 million. Despite this growth, the company reported a GAAP net loss of $102.1 million, largely due to one-time expenses related to debt extinguishment and its initial public offering (IPO).
Key financial highlights include a dramatic increase in adjusted earnings, which rose nearly fivefold to $39.9 million, and adjusted EBITDA, which more than doubled to $48.0 million. The company’s options segment performed particularly well, with a 55% increase in net revenue and a record average daily volume of 9.6 million contracts. Additionally, MIH launched the MIAX Sapphire options trading floor and announced plans to support futures trading on its MIAX Futures Onyx platform in early 2026.
Looking forward, Miami International Holdings remains focused on expanding its market share in the options business and growing its equities, futures, and international segments. With ongoing investments in technology and strategic relationships, the company is poised to execute its growth strategy and enhance shareholder value in the long term.