--- title: "Miami | 8-K: FY2026 Q2 Revenue: USD 387.63 M" type: "News" locale: "en" url: "https://longbridge.com/en/news/295011323.md" datetime: "2026-08-05T20:34:48.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/295011323.md) - [en](https://longbridge.com/en/news/295011323.md) - [zh-HK](https://longbridge.com/zh-HK/news/295011323.md) generator: "portal-rs" --- # Miami | 8-K: FY2026 Q2 Revenue: USD 387.63 M Revenue: As of FY2026 Q2, the actual value is USD 387.63 M. EPS: As of FY2026 Q2, the actual value is USD 0.4, beating the estimate of USD 0.365. EBIT: As of FY2026 Q2, the actual value is USD 28.83 M. ### Overall Financial Performance (Second Quarter 2026 vs. Second Quarter 2025) - Net revenue grew 35% to a record $141.1 million, up from $104.7 million in the prior-year period. - Operating income was $27.8 million, compared to $27.3 million in the prior-year period. - GAAP net income was $44.2 million, compared to $23.5 million in the prior-year period. - Adjusted earnings increased 41% to $53.3 million, up from $37.8 million in the prior-year period. - Adjusted EBITDA increased 57% to $76.8 million, compared to $49.1 million in the prior-year period. - Adjusted EBITDA margin expanded by more than 700 basis points to 54%, up from 47% in the prior-year period. - Total operating expenses were $113.3 million, compared to $77.4 million in the prior-year period, primarily due to a litigation settlement charge and planned investments in headcount and technology. - Miami International Holdings, Inc. realized an income tax benefit of $15.4 million, driven by a discrete tax benefit of $22.4 million related to share-based compensation. ### Liquidity (As of June 30, 2026) - Cash and cash equivalents were $660.5 million. - Total debt was $1.5 million. ### Segment Revenue (Second Quarter 2026 vs. Second Quarter 2025) - **Options:** Net revenue grew 34% to $124.4 million, compared to $92.8 million. - **Equities:** Net revenue grew 27% to $5.5 million, compared to $4.4 million. - **Futures:** Net revenue was $5.1 million, compared to $5.0 million. - **International:** Net revenue was $5.7 million, compared to $2.3 million, primarily due to the acquisition of The International Stock Exchange Group Limited (TISE) in June 2025. - **Corporate/Other:** Net revenue was $0.339 million, compared to $0.253 million. ### Segment Operating Performance (Second Quarter 2026 vs. Second Quarter 2025) - **Options:** Operating income increased 9.7% to $64.9 million, compared to $59.2 million. - **Options:** Adjusted EBITDA grew 44.4% to $96.7 million, compared to $67.0 million. - **Equities:** Operating loss was - $2.3 million, compared to an operating loss of - $3.1 million. - **Equities:** Adjusted EBITDA was - $0.5 million, compared to - $0.9 million. - **Futures:** Operating loss was - $12.7 million, compared to an operating loss of - $12.8 million. - **Futures:** Adjusted EBITDA was - $9.5 million, compared to - $9.0 million. - **International:** Operating income was $1.1 million, compared to an operating loss of - $1.2 million. - **International:** Adjusted EBITDA was $2.0 million, compared to - $0.6 million. ### Operational Metrics (Second Quarter 2026 vs. Second Quarter 2025) - **Options:** Average daily volume (ADV) reached 11.0 million contracts, a 25.3% year-over-year increase. - **Options:** Market share was 16.5%, compared to 16.7% in the prior year period. - **Options:** Total Options revenue per contract (RPC) was $0.124, up from $0.117. - **U.S. Equities:** Miami International Holdings, Inc.’s ADV was 186 million shares, a -4.6% decrease year-over-year. - **U.S. Equities:** Market share was 0.9%, compared to 1.1%. - **U.S. Equities:** Equities capture per 100 shares was - $0.001, compared to - $0.014. - **Futures (Agricultural):** Total contracts were 803,350, a -28.6% year-over-year decrease. - **Futures (Agricultural):** ADV was 12,957, a -28.6% year-over-year decrease. - **Futures (Agricultural):** RPC was $2.262, up from $1.983. - **Futures (Financial):** Financial products, launched on May 17, 2026, had total contracts of 238,483, ADV of 7,949, and RPC of - $1.766. - **International:** Total listed securities at period end were 6,109, a 6.1% increase year-over-year. - Miami International Holdings, Inc. successfully launched Tini™ B100 Index Futures, Tini B500 Index Futures, and B500 Index Futures during the quarter. ### Outlook / Guidance (Full-Year 2026) Miami International Holdings, Inc. updated its full-year 2026 expense guidance, now expecting adjusted operating expenses between $260 million and $270 million, which is a decrease from previous guidance. Share-based compensation expense is projected to be between $29 million and $32 million, an increase from prior guidance, while capital expenditures are expected to remain unchanged between $40 million and $45 million. Additionally, depreciation and amortization expense is projected to increase to a range of $35 million to $39 million. ### Related Stocks - [MIAX.US](https://longbridge.com/en/quote/MIAX.US.md) ## Related News & Research - [Miami International Holdings EVP, CFO Lance Emmons disposes of 35,000 common shares for $1.5 million](https://longbridge.com/en/news/296395393.md) - [Northann amends 8-K to file former auditor LAO Professionals’ letter on resignation](https://longbridge.com/en/news/296825824.md) - [NAPC Defense announces availability of fiscal 2026 Form 10-K report](https://longbridge.com/en/news/296821941.md) - [Skye Bio amends 8-K to set Aug. 24 effective date for reverse stock split](https://longbridge.com/en/news/296471274.md) - [Acres Commercial Realty files amended 8-K with pro forma financials for ACC internalization merger](https://longbridge.com/en/news/296825345.md) --- > **Disclaimer: This article is for reference only and does not constitute any investment advice.**