Miami International (NYSE:MIAX) reported record revenue for Q1 2026, achieving $129 million—up 40% year over year—driven by increased options trading volumes and market volatility. Adjusted EBITDA rose 66% to $66 million, marking an adjusted EBITDA margin expansion of 800 basis points to 51%. Adjusted diluted earnings per share reached $0.42, with net income rising from $30 million to $45 million in the same period.
The company’s options segment led the growth, increasing net revenue by 37% to $111 million, with average daily trading volume reaching 10.9 million contracts—up 27% from last year. MIAX’s market share in multi-listed options climbed to 17.3%, up from 16% year-over-year. The company also highlighted plans to launch Bloomberg Equity Index Futures, with the first product scheduled for May 17, 2026.
MIAX ended the quarter with $551 million in cash, and minimal outstanding debt. Looking ahead, the company reaffirmed its full-year operational expense guidance of $265 million to $275 million, anticipating increased marketing costs related to new product launches and promotional campaigns.
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