Miami International Holdings Reports Second Quarter 2026 Results
Miami International Holdings (MIAX) reported Q2 2026 net revenue of $141.1 million, up 35% YoY. GAAP diluted EPS was $0.40 and adjusted diluted EPS $0.48. Adjusted EBITDA rose 57% to $76.8 million, with a 54% margin. The company updated FY 2026 expense guidance and noted higher options volumes and new index futures launches.
How this was made
The 30-second read
Why it matters
Record Q2 net revenue and adjusted EBITDA margin expansion, plus updated FY 2026 expense and tax-rate assumptions, provide fresh inputs for valuation and near-term positioning.
Market read
Traders can update MIAX’s earnings model using the disclosed Q2 metrics and the revised FY 2026 expense guidance ranges.
What to watch
Futures and equities segments remain loss-making (operating loss in equities and futures), so investors may focus on whether options strength can offset weaker segments into FY 2026.
Background
MIAX operates regulated financial markets and reported Q2 2026 performance alongside an update to full-year 2026 expense guidance.
Ticker impact
MIAX reported Q2 2026 results with record net revenue of $141.1 million (+35% YoY) and updated full-year 2026 expense guidance.
Bias toward upside as traders reprice FY 2026 expense and EBITDA outlook; magnitude depends on how the guidance update compares to Street expectations.
The article discloses multiple primary datapoints: record revenue, adjusted EPS/EBITDA, a litigation settlement charge, and specific FY 2026 expense guidance ranges.
Market effects
Signals continued strength in listed options volumes and exchange monetization, which can support sentiment across exchange/market-structure names.
Limited, primarily company-specific impact for US-listed market infrastructure.
Low; international segment growth is tied to MIAX’s TISE acquisition rather than broad global market structure changes.
Counterpoint
The quarter’s operating expense increase includes a litigation settlement charge, so underlying run-rate profitability may be less clean than headline margins suggest.
Key entities
- public_companyMiami International Holdings, Inc.
NYSE-listed exchange operator reporting Q2 2026 results and updated FY 2026 expense guidance.
- product_launchTini B100 Index Futures, Tini B500 Index Futures and B500 Index Futures
Index futures launched during Q2 2026, supporting the company’s product pipeline narrative.
- acquisitionThe International Stock Exchange Group Limited (TISE)
International segment revenue driver following MIAX’s June 2025 acquisition.
