MIAX Stock — Miami International Holdings, Inc.

Up next

Next earnings call

Nov 4, 2026 Est · unconfirmed · in 5 wks

Latest filing: 10-Q

filed Aug 7, 2026

Q2 2026 earnings call transcript

call held Aug 5, 2026

Metrics snapshot

Useful current figures from the complete screener profile.

View all 115 metrics

Revenue (TTM)

$1.47B

Trailing 12 months

Net income (TTM)

$142.30M

Trailing 12 months

Revenue growth YoY

+18.3%

Year over year

Operating margin

7.9%

Trailing 12 months

P / E (TTM)

33.8

Trailing earnings · reciprocal yield 3.0%

FCF yield

7.3%

TTM · current market cap

Return on invested capital

—

Trailing 12 months

Net cash

$658.95M

Latest balance sheet

Dividend yield

—

Trailing 12 months

Shares change YoY

+41.1%

Year over year · more shares

Price change (1Y)

-13.4%

Trailing year

Short interest

6.9%

Latest settlement · 5.0 days to cover

View all 115 metrics

AI Brief

Q2 FY26 earnings call · Aug 5, 2026

Q2 FY26

TL;DR. MIAX reported record Q2 net revenue of $141 million (+35% YoY) with adjusted EBITDA margin expanding over 700 bps to 54% on the back of options volatility, launched its first Bloomberg Financial Futures products, and lowered full-year adjusted operating expense guidance while raising share-based comp and D&A ranges.

Bullish

+ Adjusted EBITDA margin expanded more than 700 bps YoY to 54%, demonstrating operating leverage.
+ Options segment net revenue rose 34% to $124.4 million with operating income up 10% to $64.9 million.
+ Launched Bloomberg Financial Futures products (B500, Teeny B500, Teeny B100) on May 17 with screens lit and volume tracking to expectations.
+ Lowered 2026 adjusted operating expense guidance to $260-$270 million from $265-$275 million.

Bearish

− Options market share of 16.5% was down from 17.3% in Q1 and management warned Q2 RPC of 12.4 cents should not be extrapolated into the second half.
− U.S. equities segment posted an operating loss of $2.3 million and negative adjusted EBITDA of $(0.5) million.

AI-generated from the earnings call and 8-K · may contain errors · not investment advice

Equibles Rating

blended score · not investment advice

Overall

Sell

SellHoldBuy

Technical Strong Sell Momentum Very Weak Sentiment Neutral Fundamentals Excellent Quant / Vol Very High

Market backdrop VIX 16.4 · calm Equity put/call 0.57

Technical

price trend

Strong Sell

50 / 200-day cross No cross

Price vs 200-day avg −21%

below

Price vs 50-day avg −19%

below

RSI (14) 27

oversold

MACD trend Negative

52-week position 1%

near low

Volume (OBV) Confirms

volume backs price

Momentum

relative strength

Very Weak

1-month return −17%

trailing

6-month return −20%

trailing

YTD return −24%

this year

Relative strength −32%

vs S&P · 6-mo

Sentiment

smart money

Neutral

Trend (MA cross) No cross

50d $42 › 200d $43 — 200d above 50d

Institutional flow Accumulating

+4% holders QoQ · +51 funds added

Insider flow Flat

No net insider activity over 90 days

Short interest Rising

6.90% of float · ▲ +0.8% MoM · 5.0 days cover

Volume signal Normal

Volume near normal

Institution breadth Multi-yr high

213 holders — near 1-yr high, broad support

Squeeze score 57

elevated · 0–100

Fundamentals

Excellent

Revenue growth +20%

Y/Y

Gross margin 32%

expanding

EPS growth −172%

Y/Y

Free cash flow $145.0M

Balance sheet $432.1M

net cash

Quant / Vol

risk profile

Very High

Volatility 41%

annualized · 1-yr

Max drawdown −41%

past year

ATR 4.5%

of price · 14-day

Blended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.

Guidance & track record

what management promised — and delivered

Latest guidance · from the Earnings Call filed Aug 5, 2026

Adjusted operating expense · 2026 Non-GAAP $260M – $270M

Capital expenditures · 2026 $40M – $45M

Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.

Technicals

trend & momentum for long-term holders Strong Sell

4 · 3 · 0

50 / 200-day cross

No cross Neutral

Price vs 200-day avg

−21% Bearish

Price vs 50-day avg

−19% Bearish

RSI (14)

27 Neutral

MACD trend

Negative Bearish

52-week position

1% Bearish

Volume (OBV)

Confirms Neutral

Market signals — smart money & positioning

Bullish · 2 of 6

Trend (MA cross) No cross

50d $42 › 200d $43 — 200d above 50d

Institutional flow Accumulating

+4% holders QoQ · +51 funds added

Insider flow Flat

No net insider activity over 90 days

Short interest Rising

6.90% of float · ▲ +0.8% MoM · 5.0 days cover

Volume signal Normal

Volume near normal

Institution breadth Multi-yr high

213 holders — near 1-yr high, broad support

Price context

position in its 52-week range

Range low $34 Now $34 · 1% Range high $57

vs 200-day avg -21% vs 50-day avg -19%

Illustrative technical + ownership context — a signal mix, not investment advice.

Key metrics

the company's own KPIs, from written earnings releases and filings

Metric	Latest	Period	YoY
Adjusted diluted earnings per share non-GAAP	$0.48	Three Months Ended June 30, 2026 filing	—
Adjusted earnings non-GAAP	$53.27M	Three Months Ended June 30, 2026 filing	+41.1%

Adjusted earnings margin non-GAAP	37.8%	Three Months Ended June 30, 2026 filing	—
Agricultural products ADV	12,957	Three Months Ended June 30, 2026 filing	—
Agricultural products RPC	$2.26	Three Months Ended June 30, 2026 filing	—
Agricultural products total contracts	803,350	Three Months Ended June 30, 2026 filing	—
Customer 1 revenue concentration	15%	Three Months Ended June 30, 2026 filing	—
Customer 2 revenue concentration	16%	Three Months Ended June 30, 2026 filing	—
EBITDA margin	22.9%	Three Months Ended June 30, 2026 filing	—
Equities capture	$0	the three months ended June 30, 2026 filing	—
Financial products ADV	7,949	Three Months Ended June 30, 2026 filing	—
Financial products RPC	-$1.77	Three Months Ended June 30, 2026 filing	—
Financial products total contracts	238,483	Three Months Ended June 30, 2026 filing	—
Futures agricultural products ADV	28.6%	the three months ended June 30, 2026 filing	—
Futures agricultural revenue per contract	14.1%	the three months ended June 30, 2026 filing	—
Market ADV – Equity and ETF (in thousands)	66.52M	Three Months Ended June 30, 2026 filing	—
Market contracts – Equity and ETF (in thousands)	4.12B	Three Months Ended June 30, 2026 filing	—
Market shares (in millions)	1.25T	Three Months Ended June 30, 2026 filing	—
MIH ADV (in millions)	186M	Three Months Ended June 30, 2026 filing	—
MIH ADV – Equity and ETF (in thousands)	10.99M	Three Months Ended June 30, 2026 filing	—
MIH contracts – Equity and ETF (in thousands)	681.33M	Three Months Ended June 30, 2026 filing	—
MIH market share	16.5%	Three Months Ended June 30, 2026 filing	—
MIH shares (in millions)	11.52B	Three Months Ended June 30, 2026 filing	—
Options Market ADV	26.8%	the three months ended June 30, 2026 filing	—
Options market share	16.5%	the three months ended June 30, 2026 filing	—
Options revenue per contract	6%	the three months ended June 30, 2026 filing	—
Total listed securities (period end)	6,109	Three Months Ended June 30, 2026 filing	—
Total Options revenue per contract (RPC)	$0.12	Three Months Ended June 30, 2026 filing	—
U.S. Equities Market ADV	9.9%	the three months ended June 30, 2026 filing	—
U.S. Equities market share	0.9%	the three months ended June 30, 2026 filing	—

Figures exactly as the company stated them in writing · click a metric with a to chart its history · period links open the stating document · "filing" marks figures stated in the 10-K/10-Q · YoY needs an exactly comparable prior-year period

Versus peers

Capital Markets — same industry group

Open screener →

Company	Mkt cap	YTD	Rev growth Y/Y	P/E	Short % shares
MIAX Miami International Holdings, Inc. this stock	$3.46B	-24.0%	+19.6%	—	6.9%
MS Morgan Stanley	$308.32B	+5.9%	+5.5%	15.9	0.9%
GS Goldman Sachs Group Inc	$272.38B	+2.0%	+8.9%	14.4	2.4%
SCHW Schwab Charles Corp	$171.26B	-1.5%	+22.0%	18.0	1.1%
HOOD Robinhood Markets, Inc.	$107.35B	-1.7%	+51.6%	52.8	4.0%

Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding

At a glance

key data from every section

Ownership

Institutional Holders Accumulating

Holders

213

% held: 73.6%
Net QoQ: +22.2M sh
Top holder: HORIZON KINETICS ASSET MA…

Held Float

View

Held by Funds

Fund positions

245

View

Short & Settlement

Short Interest Rising

Shares short

6.8M

Days to cover: 5.0d
Change: +55.2K sh

View

Short Volume

Short vol %

52%

As of: Oct 2, 2026

Short Total

View

Fails to Deliver

FTD shares

15.0K

Value: $642.6K
As of: Sep 10, 2026

View

Off-Exchange

Off-exchange %

49.0%

Week of: Aug 24, 2026

Off-exch Lit

View

Smart Money

Congressional Trades Buy

Member

Gilbert Cisneros

Amount: $15.0K–$50.0K
Traded: Mar 20, 2026

View

Financials

Revenue (FY)

$1.4B

Net income (FY): $-70.0M
EPS diluted: $-1.00

View

Filings

SEC Filings

Latest

10-Q

Filed: Aug 7, 2026
This year: 21

View

Proposed Sales

Value

$838.3K

Shares: 21.2K
Filed: Sep 16, 2026

View

Exempt Offerings

Offering

$65.0M

Filed: Aug 9, 2021

View

Earnings & Events

Webcasts

Last webcast

Aug 5, 2026

View

	5D	20D	120D	MTD	YTD
MIAX	-5.3%	-16.9%	-19.6%	+0.8%	-24.0%
SPY	-0.4%	-0.2%	+12.4%	+0.2%	+12.0%
vs SPY	-4.9%	-16.8%	-32.0%	+0.6%	-36.0%

MIAX · Miami International Holdings, Inc.

Price & Indicators

Up next

Metrics snapshot

AI Brief

Equibles Rating

Guidance & track record

Technicals

Key metrics

Versus peers

At a glance

Performance