Record Revenue Growth
MIAX delivered strong results with net revenues growing 57% year-over-year to a record $109.5 million, driven by elevated industry options volumes and increased market share.
Successful IPO and Debt Retirement
The successful IPO in August allowed MIAX to retire $140 million of debt and build a strong cash position, enhancing access to capital markets and brand awareness.
Options Segment Performance
Options segment net revenue increased 55% year-over-year to $94.5 million with a market share increase to 17.2%, up from 13.9% in the prior year.
Expansion of Trading Platforms and Facilities
Launch of the MIAX Sapphire trading floor in Miami in September and the Onyx Futures trading platform at the end of June, enhancing trading capabilities and market presence.
Strong Adjusted EBITDA Growth
Adjusted EBITDA increased 157% year-over-year to $48 million for the quarter with an adjusted EBITDA margin of 44%, up from 27% in the prior year period.
International Expansion
Acquisition of the International Stock Exchange (TISE) in Guernsey, expanding MIAX's ability to offer listing services to global debt issuers and access to European and U.K. markets.