# Miami International Holdings, Inc.: overview

MIAX · NYSE · CIK 1438472 · [Financials](/sectors/financials.md)

Pages: [Overview](/companies/miax.md) · [Financials](/companies/miax/financials.md) · [Filings](/companies/miax/filings.md) · [Insiders](/companies/miax/insiders.md)

Latest reported revenue: [$387.6m](/filings/0001628280-26-054575.md) for Q2 FY2026, three months to 2026-06-30, from the 10-Q filed Aug 7, 2026 (XBRL us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax, accession 0001628280-26-054575).

## Last eight quarters

| Line item | Unit | period not labelled (2024-09-30) | period not labelled (2024-12-31) | period not labelled (2025-03-31) | period not labelled (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [277](/filings/0001438472-25-000011.md) | [324 d](/filings/0001438472-26-000023.md) | [327](/filings/0001628280-26-032565.md) | [328](/filings/0001628280-26-054575.md) | [340](/filings/0001438472-25-000011.md) | [369 d](/filings/0001438472-26-000023.md) | [370](/filings/0001628280-26-032565.md) | [388](/filings/0001628280-26-054575.md) |
| Gross margin | % | [25.1%](/filings/0001438472-25-000011.md) | [25.2% d](/filings/0001438472-26-000023.md) | [28.1%](/filings/0001628280-26-032565.md) | [31.9%](/filings/0001628280-26-054575.md) | [32.2%](/filings/0001438472-25-000011.md) | [33.7% d](/filings/0001438472-26-000023.md) | [34.8%](/filings/0001628280-26-032565.md) | [36.4%](/filings/0001628280-26-054575.md) |
| Operating margin | % | [(0.4%)](/filings/0001438472-25-000011.md) | [2.2% d](/filings/0001438472-26-000023.md) | [6.8%](/filings/0001628280-26-032565.md) | [8.3%](/filings/0001628280-26-054575.md) | [(0.1%)](/filings/0001438472-25-000011.md) | [11.6% d](/filings/0001438472-26-000023.md) | [12.4%](/filings/0001628280-26-032565.md) | [7.2%](/filings/0001628280-26-054575.md) |
| Net margin | % | [(1.2%)](/filings/0001438472-25-000011.md) | [0.9% d](/filings/0001438472-26-000023.md) | [(6.5%)](/filings/0001628280-26-032565.md) | [7.2%](/filings/0001628280-26-054575.md) | [(30.0%)](/filings/0001438472-25-000011.md) | [8.1% d](/filings/0001438472-26-000023.md) | [46.0%](/filings/0001628280-26-032565.md) | [11.4%](/filings/0001628280-26-054575.md) |
| Diluted EPS | $ per share | [(0.05)](/filings/0001438472-25-000011.md) | not reported | [(0.34)](/filings/0001628280-26-032565.md) | [0.30](/filings/0001628280-26-054575.md) | [(1.46)](/filings/0001438472-25-000011.md) | not reported | [1.56](/filings/0001628280-26-032565.md) | [0.40](/filings/0001628280-26-054575.md) |
| Free cash flow | $m | not reported | [32.9 d](/filings/0001438472-26-000023.md) | [6.5](/filings/0001628280-26-032565.md) | [42.7 d](/filings/0001628280-26-054575.md) | [53.0 d](/filings/0001438472-25-000011.md) | [42.9 d](/filings/0001438472-26-000023.md) | [49.2](/filings/0001628280-26-032565.md) | [106 d](/filings/0001628280-26-054575.md) |

- Revenue. XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Gross margin (gross profit / revenue). XBRL Gross profit: us-gaap:GrossProfit; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment. Derived values: 12-month figure less the 9-month figure; 6-month figure less the 3-month figure; 9-month figure less the 6-month figure.

## Last five fiscal years

| Line item | Unit | FY (2023-12-31) | FY (2024-12-31) | FY2025 (2025-12-31) |
| --- | --- | ---: | ---: | ---: |
| Revenue | $m | [1,041](/filings/0001438472-26-000023.md) | [1,140](/filings/0001438472-26-000023.md) | [1,364](/filings/0001438472-26-000023.md) |
| Gross margin | % | [22.3%](/filings/0001438472-26-000023.md) | [24.2%](/filings/0001438472-26-000023.md) | [31.6%](/filings/0001438472-26-000023.md) |
| Operating margin | % | [(0.3%)](/filings/0001438472-26-000023.md) | [(0.2%)](/filings/0001438472-26-000023.md) | [6.7%](/filings/0001438472-26-000023.md) |
| Net margin | % | [(2.0%)](/filings/0001438472-26-000023.md) | [9.0%](/filings/0001438472-26-000023.md) | [(5.1%)](/filings/0001438472-26-000023.md) |
| Diluted EPS | $ per share | [(0.37)](/filings/0001438472-26-000023.md) | [1.39](/filings/0001438472-26-000023.md) | [(1.00)](/filings/0001438472-26-000023.md) |
| Free cash flow | $m | [(65.4)](/filings/0001438472-26-000023.md) | [84.7](/filings/0001438472-26-000023.md) | [145](/filings/0001438472-26-000023.md) |

- Revenue. XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Gross margin (gross profit / revenue). XBRL Gross profit: us-gaap:GrossProfit; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment.

Each value links to the filing it came from. d marks a derived value. A ratio is not reported when any input is missing.

## Insider purchases and sales

The last 20 open-market transactions on Form 4 (codes P and S). Reported price is as stated on the form, not a market price. [All insider transactions](/companies/miax/insiders.md)

| Date | Insider | Role | Transaction | Shares | Reported price | Value | Filing |
| --- | --- | --- | --- | ---: | ---: | ---: | --- |
| 2026-10-22 | [Comly Barbara J.](/insiders/2080878.md) | EVP, GC & Corporate Secretary, Officer | Sale (S) | 12,306 | $35.04 | $431.2k | [Form 4](/filings/0002080878-26-000018.md) |
| 2026-10-22 | [Schafer Douglas M. JR](/insiders/2079445.md) | EVP and CIO, Officer | Sale (S) | 8,000 | $35.06 | $280.5k | [Form 4](/filings/0002079445-26-000019.md) |

## Funds that report holding it

From each manager’s latest Form 13F, largest reported value first. Reported value is as filed: filing data, not a price. [All funds](/funds.md)

| Fund | Quarter ended | Reported value | Shares | Put or call | Change on the quarter before |
| --- | --- | ---: | ---: | --- | --- |
| [HORIZON KINETICS ASSET MANAGEMENT LLC](/funds/1056823.md) | 2026-06-30 | $291.4m | 7,842,173 |  | Added +4,390,624 |
| [BlackRock, Inc.](/funds/2012383.md) | 2026-06-30 | $188.5m | 5,071,754 |  | Added +2,839,074 |
| [VANGUARD PORTFOLIO MANAGEMENT LLC](/funds/2100121.md) | 2026-06-30 | $140.7m | 3,786,418 |  | Added +2,411,472 |
| [SUSQUEHANNA INTERNATIONAL GROUP, LLP](/funds/1446194.md) | 2026-06-30 | $124.7m | 3,355,043 |  | Added +58,697 |
| [VANGUARD CAPITAL MANAGEMENT LLC](/funds/2100119.md) | 2026-06-30 | $117.6m | 3,165,686 |  | Added +1,750,707 |
| [Invesco Ltd.](/funds/914208.md) | 2026-06-30 | $75.1m | 2,020,650 |  | Added +435,647 |
| [J Digital 6 LLC](/funds/2090663.md) | 2026-06-30 | $67.2m | 1,807,234 |  | New +1,807,234 |
| [BLAIR WILLIAM & CO/IL](/funds/902367.md) | 2026-06-30 | $65.8m | 1,769,432 |  | Added +1,103,651 |
| [Balyasny Asset Management L.P.](/funds/1218710.md) | 2026-06-30 | $62.5m | 1,682,924 |  | New +1,682,924 |
| [AMERICAN CENTURY COMPANIES INC](/funds/748054.md) | 2026-06-30 | $59.0m | 1,587,196 |  | Added +365,711 |

## Recent filings

[All 304 filings](/companies/miax/filings.md)

| Filed | Accepted | Form | What it is | Accession |
| --- | --- | --- | --- | --- |
| 2026-10-29 | 16:15 ET | [8-K](/filings/0001438472-26-000044.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001438472-26-000044 |
| 2026-08-07 | 07:24 ET | [10-Q](/filings/0001628280-26-054575.md) | Quarterly report, period 2026-06-30 | 0001628280-26-054575 |
| 2026-08-05 | 16:14 ET | [8-K](/filings/0001438472-26-000040.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001438472-26-000040 |
| 2026-07-21 | 16:34 ET | [8-K](/filings/0001628280-26-049014.md) | 8.01 Other events | 0001628280-26-049014 |
| 2026-06-22 | 16:59 ET | [8-K](/filings/0001438472-26-000036.md) | 3.02 Unregistered sale of equity | 0001438472-26-000036 |
| 2026-06-18 | 16:09 ET | [8-K](/filings/0001438472-26-000032.md) | 5.07 Shareholder vote results | 0001438472-26-000032 |
| 2026-06-17 | 16:18 ET | [8-K](/filings/0001438472-26-000030.md) | 5.02 Departure or appointment of officers or directors | 0001438472-26-000030 |
| 2026-05-21 | 12:00 ET | [SCHEDULE 13D/A](/filings/0001056823-26-000016.md) | Ownership report, active investor, amended | 0001056823-26-000016 |
| 2026-05-08 | 08:23 ET | [10-Q](/filings/0001628280-26-032565.md) | Quarterly report, period 2026-03-31 | 0001628280-26-032565 |
| 2026-05-06 | 16:17 ET | [8-K](/filings/0001628280-26-031291.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001628280-26-031291 |

## Latest annual report

[Form 10-K for the fiscal year ended Dec 31, 2025](/filings/0001438472-26-000023.md), filed Mar 6, 2026.

## Forecast league

Q3 FY2026, the quarter ended 2026-09-30, locked when the 8-K was accepted. It is scored when the 10-Q or 10-K is ingested. [See the target](/leagues/2026q3/targets/47bb6165-5715-4be3-b5d7-efdb33d1a9ee)

## About the filer

- CIK: 1438472
- Tickers: MIAX
- Exchange: NYSE
- SIC code: 6211 Security Brokers, Dealers & Flotation Companies
- State of incorporation: DE
- Filer category: Non-accelerated filer

Source: SEC EDGAR, XBRL company facts, the filing index and Forms 4. Last ingested by Listed: Oct 29, 2026, 16:18 ET. No prices; not investment advice.