Miami International Holdings, Inc. (MIAX) Revenue History
Annual and quarterly revenue from 2020 to present
MIAX Revenue Over Time (2020–2025)
MIAX Revenue Growth History
5 of 5 years with positive growth- FY2020 revenue growth
- N/A
- FY2021 revenue growth
- +66.1%
- FY2022 revenue growth
- +6.2%
- FY2023 revenue growth
- +30.5%
- FY2024 revenue growth
- +9.5%
- FY2025 revenue growth
- +19.6%
| Quarter | Revenue | YoY |
|---|---|---|
| Q1 2026 | $369.7M | — |
| Q4 2025 | $369.4M | — |
| Q3 2025 | $339.8M | — |
| Q2 2025 | $327.8M | — |
| Q1 2025 | $327.1M | — |
| Q4 2024 | $323.9M | — |
| Q3 2024 | $276.7M | — |
| Q2 2024 | $266.6M | — |
Multi-year avg. share of annual revenue by fiscal quarter
Revenue Breakdown (FY 2025)
MIAX's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
MIAX Revenue Analysis (2020–2025)
Current Revenue & Growth
As of June 28, 2026, Miami International Holdings, Inc. (MIAX) generated trailing twelve-month (TTM) revenue of $1.41 billion, reflecting strong growth of +13.0% year-over-year. The most recent quarter (Q1 2026) recorded $369.7 million in revenue, up 0.1% sequentially.
Historical Growth Trajectory
MIAX's 5-year compound annual growth rate (CAGR) stands at +24.7%, indicating outstanding long-term growth trajectory. The 3-year CAGR of +19.6% is below the 5-year average, signalling a growth deceleration in recent years. Miami International Holdings, Inc. 's highest annual revenue of $1.36 billion was recorded in 2025, an all-time high.
Revenue by Segment
MIAX's revenue is primarily driven by Transaction And Clearing Fees (87%), Access Fees (8%), and Market Data Fees (3%). With over half of revenue concentrated in Transaction And Clearing Fees, the company has a focused business model while developing other growth vectors.
Peer Comparison
Compared to Financial Services sector peers — including CBOE, NDAQ, and ICE. Compare MIAX vs CBOE →
MIAX Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| MIAXCurrent | $1.4B | +13.0% | +24.7% | 2.7% | |
 CBOE | $4.7B | - | - | 32.1% | |
 NDAQ | $8.2B | - | - | 28.4% | |
 ICE | $12.6B | - | - | 38.7% | |
 CME | $6.5B | - | - | 64.9% | |
 MKTX | $849M | - | - | 41.2% |
MIAX Historical Revenue Data (2020–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $1.36B | - | $371.8M | 27.3% | $36.6M | 2.7% |
| 2024 | $1.14B | - | $275.6M | 24.2% | $-2,825,000 | -0.2% |
| 2023 | $1.04B | - | $232.5M | 22.3% | $-2,866,000 | -0.3% |
| 2022 | $797.9M | - | $195.6M | 24.5% | $5.3M | 0.7% |
| 2021 | $751.5M | - | $181.3M | 24.1% | $23.7M | 3.2% |
| 2020 | $452.5M | - | $96.5M | 21.3% | $-23,880,000 | -5.3% |
Intrinsic Valuation
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Historical Returns
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Peer Comparison
Compare growth, multiples, and margins vs sector.
MIAX — Frequently Asked Questions
Quick answers to the most common questions about buying MIAX stock.
Is MIAX's revenue growth accelerating or slowing?
MIAX revenue growth is holding steady at +13.0% year-over-year. TTM revenue is $1.4B. The current growth rate closely tracks the 5-year CAGR of +24.7%, signalling consistent execution.
What is MIAX's revenue history from 2020 to 2026?
Miami International Holdings, Inc. (MIAX) revenue history spans 2020 to 2026. TTM revenue as of 2026 is $1.4B, growing at +13.0% YoY. The 5-year CAGR is +24.7%. Complete annual and quarterly revenue figures are available on this page, including gross profit, operating income, and margin trends.
What is MIAX's long-term revenue growth rate (CAGR)?
Miami International Holdings, Inc. 's 5-year revenue CAGR of +24.7% reflects the sustained nature of its business expansion. As of 2026, the current YoY growth rate of +13.0% is in line with this long-term average. CAGR is the most reliable measure of sustained revenue momentum for MIAX.
Why does MIAX's quarterly revenue fluctuate?
MIAX quarterly revenue can fluctuate significantly between periods. A quarter-over-quarter (QoQ) change does not always indicate a trend; comparing the same quarter year-over-year (YoY) is a more reliable signal for underlying growth. Miami International Holdings, Inc. 's revenue data from 2020 to 2026 shows full historical quarterly detail on this page.
How is MIAX's revenue distributed by segment?
MIAX reports revenue broken down by product line and geographic region. The segment breakdown on this page shows which business units contribute the most to total revenue as of the latest fiscal year. Concentration in a single segment above 50% indicates category dependence, while a diversified mix signals more resilient revenue streams.
How does MIAX's revenue compare to industry peers?
Miami International Holdings, Inc. (MIAX) with TTM revenue of $1.4B and +13.0% YoY growth can be benchmarked against sector peers using the comparison table on this page. Revenue growth relative to peers indicates market share gains or losses. The peer section shows TTM revenue, YoY growth, and operating margin for direct comparisons.