Technology

HelloNation Article Examines Home Improvements Before Selling, Featuring Real Estate Expert Rosa Stong

Published

56 minutes ago

October 29, 2026

The article explains how practical updates and local market conditions can help homeowners prepare for a successful sale.

RACINE, Wis., Oct. 29, 2026 /PRNewswire/ — HelloNation Article Examines Home Improvements Before Selling, Featuring Real Estate Expert Rosa Stong

The article explains how practical updates and local market conditions can help homeowners prepare for a successful sale.

What should you fix before listing your house? HelloNation answers that question in an article featuring insights from Real Estate Expert Rosa Stong of Becker Stong Real Estate Group in Racine, Wisconsin.

The article explains that preparing your home for sale begins with understanding that every property and every seller’s situation is different. While many homeowners wonder whether to invest in major renovations, the article notes that the best time to sell depends on your situation, and the same principle applies to deciding which updates to complete before listing. Thoughtful preparation can often produce stronger results than expensive remodeling projects.

According to the HelloNation article, many of the most effective pre-sale home improvements involve addressing basic maintenance issues that buyers quickly notice. Loose door handles, dripping faucets, damaged light fixtures, cracked caulk, and scuffed walls can suggest routine upkeep has been neglected. Completing these repairs shows the property has been well cared for and can increase buyer confidence during showings.

The article also highlights fresh paint as one of the most affordable and effective updates sellers can make. Neutral paint colors help rooms appear brighter, cleaner, and more spacious while making it easier for buyers to imagine themselves living in the home. Repainting worn or boldly colored spaces often creates a noticeable improvement without requiring a significant financial investment.

Curb appeal receives similar attention because buyers begin evaluating a property before they step inside. The article explains that maintaining the lawn, trimming landscaping, cleaning walkways, and refreshing the front door can create an inviting appearance. These relatively simple improvements help establish a positive first impression and encourage greater buyer interest from the moment prospective buyers arrive.

The HelloNation article also discusses home staging as another valuable tool when preparing your home for sale. Professional staging may not always be necessary, but thoughtfully arranging furniture, removing excess personal belongings, and organizing storage areas can help rooms feel larger and more functional. Clean countertops and uncluttered living spaces allow buyers to focus on the home’s layout instead of the current owner’s possessions.

Rather than recommending costly remodeling projects, the article encourages sellers to focus on updates that appeal to a broad audience. Replacing outdated cabinet hardware, installing modern light fixtures, updating faucets, and improving worn flooring can create a fresh look while keeping costs manageable. These practical pre-sale improvements often add more value than highly personalized renovations that may not appeal to every buyer.

The article further explains that preparation decisions should reflect local market conditions and the home’s price range. In highly competitive markets, buyers may overlook small cosmetic imperfections. In slower markets, presentation becomes more important because buyers often have more options. Real Estate Expert Rosa Stong notes in the article’s insights that understanding local buyer expectations helps homeowners prioritize improvements most likely to generate buyer interest.

The article concludes that preparing your home for sale is about showcasing the property’s strengths while reducing distractions for potential buyers. Completing needed repairs, improving curb appeal, applying fresh paint where appropriate, and making thoughtful cosmetic updates can help create a welcoming experience while recognizing that the best time to sell depends on your situation.

The Best Time to Sell Depends on Your Situation features insights from Rosa Stong, a real estate expert in Racine, Wisconsin, in HelloNation.

About HelloNation

HelloNation is America’s Good News Network, a premier media platform built on the idea that good news travels faster when real people tell real stories. Through its community-focused publications and innovative “edvertising” approach, HelloNation delivers content that informs, inspires, and spotlights the leaders making a meaningful impact in their communities.

www.hellonation.com

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SOURCE HelloNation

Technology

Norfolk Southern and Schneider partner to expand domestic intermodal capacity across the eastern U.S.

Published

56 minutes ago

October 29, 2026

Collaboration brings together Schneider’s asset-based expertise with Norfolk Southern’s eastern U.S. intermodal network to deliver greater efficiency and more flexible capacity for shippers

Key Takeaways

Norfolk Southern and Schneider are partnering to advance domestic intermodal growth by combining Norfolk Southern’s eastern U.S. rail network and infrastructure investments with Schneider’s asset-based intermodal services.The partnership gives shippers a more scalable alternative to over-the-road transportation, with improved efficiency, flexible capacity and greater supply chain resilience.Schneider brings 35 years of intermodal expertise, professional company drivers, company-owned tractors, approximately 23,900 chassis and 26,800 containers and more than 60 North American intermodal rail hubs.Norfolk Southern is investing ahead of customer demand across its 22-state intermodal network, including gateway capacity, terminal expansions, double-stack clearance improvements, reliability upgrades and enhanced security.

ATLANTA and GREEN BAY, Wis., Oct. 29, 2026 /PRNewswire/ — Norfolk Southern Corporation (NYSE: NSC) and Schneider National, Inc. (NYSE: SNDR), a premier multimodal provider of transportation, intermodal and logistics services, today announced a strategic agreement that combines Schneider’s 35 years of intermodal expertise, professional company drivers, company-owned assets and logistics capabilities with Norfolk Southern’s extensive eastern U.S. intermodal network and ongoing infrastructure investments.

The partnership brings together two networks built around breadth, consistency and customer growth at a time when demand for intermodal solutions continues to build. Schneider’s Intermodal Service is backed by company-owned tractors, approximately 23,900 chassis and 26,800 containers, more than 60 intermodal rail hubs across North America, and professional company dray drivers who complete more than 90% of Schneider’s domestic dray moves. Norfolk Southern’s intermodal volumes grew 3% in the third quarter of 2026, supported by steady consumer demand, favorable truck-market dynamics and network improvements.

“Schneider’s Intermodal network is built on a strong asset-based foundation that gives customers the control, consistency and reliability they depend on,” said Michael Baumgardt, Executive Vice President of Intermodal and Logistics at Schneider. “As we transition our primary eastern rail provider to Norfolk Southern, we’ll expand access to key markets, increase network flexibility and create new opportunities to better serve our customers. It will strengthen Schneider’s competitive position and enhance the reliable service experience our customers expect.”

As one of the largest intermodal carriers in North America, Schneider brings more than three decades of intermodal expertise to help customers move freight with truck-like reliability and rail-driven efficiency. In addition to its company-owned containers, lightweight chassis, company-operated dray fleet, and company drivers, Schneider also supports performance through priority rail access, proactive execution across long-haul lanes, satellite tracking for real-time visibility, and advanced security measures. Aligning with Norfolk Southern reflects Schneider’s commitment to evolving with customer needs and changing freight flows. Norfolk Southern’s expansive eastern network broadens Schneider’s reach, creating new opportunities to grow with existing customers, attract new freight, and convert truckload shipments to intermodal.

“Customers are taking a broader view of intermodal than ever before, and we are investing ahead of that demand,” said Ed Elkins, EVP and Chief Commercial Officer at Norfolk Southern. “By combining Norfolk Southern’s network reach, as well as our terminal investments and capacity, with Schneider’s proven logistics expertise, owned equipment and customer relationships, we are creating new opportunities to move freight across North America and make rail a stronger part of the domestic supply chain.”

The agreement builds on Norfolk Southern’s strategy to invest ahead of customer growth across its 22-state intermodal network. Recent and ongoing projects include a new service between Cincinnati and Atlanta; double-stack clearance improvements connecting the Midwest and New England through the East Edge route; and terminal expansions in Ohio, Michigan, North Carolina and Illinois. At facilities across Atlanta, Louisville, Harrisburg, Croxton, Chesapeake, Charlotte, Chicago and St. Louis, Norfolk Southern is also improving pavement, lighting, storage areas, maintenance facilities, truck access routes and security systems to strengthen reliability, driver turn times and the everyday terminal experience customers depend on.

This collaboration reflects a shared commitment to making intermodal transportation more dependable and more accessible for customers. By bringing together complementary strengths and investing for long-term growth, Schneider and Norfolk Southern are helping shape the future of domestic freight transportation.

About Norfolk Southern
Since 1827, Norfolk Southern Corporation (NYSE: NSC) and its predecessor companies have safely moved the goods and materials that drive the U.S. economy. Today, it operates a customer-centric and operations-driven freight transportation network. Committed to furthering sustainability, Norfolk Southern helps its customers avoid approximately 15 million tons of yearly carbon emissions by shipping via rail. Its dedicated team members deliver more than 7 million carloads annually, from agriculture to consumer goods. Norfolk Southern also has the most extensive intermodal network in the eastern U.S. It serves a majority of the country’s population and manufacturing base, with connections to every major container port on the Atlantic coast as well as major ports in the Gulf of Mexico and Great Lakes. Learn more by visiting www.NorfolkSouthern.com.

About Schneider
Schneider is a premier multimodal provider of transportation, intermodal and logistics services, helping customers turn supply chain complexity into greater control. Backed by more than 90 years of operational expertise and innovation, Schneider delivers reliable, flexible and responsible solutions that help businesses move freight with confidence.

Schneider’s broad portfolio includes Regional and Long-Haul Truckload, Expedited, Dedicated, Bulk, Intermodal, Brokerage, Warehousing, Supply Chain Management, Port Logistics and Logistics Consulting. Through its digital marketplace, Schneider FreightPower®, the company gives shippers access to an expanded, highly flexible capacity network and carriers access to quality drop-and-hook freight.

For more information about Schneider, visit Schneider.com or follow the company socially on Facebook, LinkedIn and X: @WeAreSchneider. Always Delivering. Always Ahead.

View original content to download multimedia:https://www.prnewswire.com/news-releases/norfolk-southern-and-schneider-partner-to-expand-domestic-intermodal-capacity-across-the-eastern-us-302924186.html

SOURCE Norfolk Southern Corporation

Technology

GoDaddy Inc. Reports Third Quarter 2026 Financial Results

Published

56 minutes ago

October 29, 2026

TEMPE, Ariz., Oct. 29, 2026 /PRNewswire/ — GoDaddy Inc. (NYSE: GDDY) today reported third quarter 2026 financial results. To view the earnings release, earnings presentation and prepared remarks, please access the company’s Investor Relations website at https://aboutus.godaddy.net/investor-relations/financials.

GoDaddy management will host a live webcast at 5:00 p.m. Eastern Time, which will be available on GoDaddy’s Investor Relations website. To participate, please register here.

Following the webcast’s completion, a recording will be available on GoDaddy’s Investor Relations website.

About GoDaddy
GoDaddy, the world’s largest domain name registrar, helps millions of entrepreneurs globally start, grow, and scale their businesses. People come to GoDaddy to name their idea, build a website and logo, sell their products and services and accept payments. Airo®, the company’s agentic operating system for small businesses, helps entrepreneurs get their idea online, run their business day-to-day and grow through an integrated identity, presence and commerce experience. GoDaddy’s expert guides are available 24/7 to provide assistance. To learn more about the company, visit www.GoDaddy.com.

Source: GoDaddy Inc.

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SOURCE GoDaddy Inc.

Technology

Miami International Holdings Reports Third Quarter 2026 Results

Published

56 minutes ago

October 29, 2026

Q3 Net revenue of $131 million (+20% YoY)Q3 GAAP diluted EPS of $0.47; Adjusted diluted EPS of $0.45Q3 Adjusted EBITDA of $71 million (+47% YoY); Adjusted EBITDA margin of 54% (+>1,000 bps YoY)Updates full-year 2026 expense guidance

PRINCETON, N.J. and MIAMI, Oct. 29, 2026 /PRNewswire/ — Miami International Holdings, Inc. (MIAX or MIH) (NYSE: MIAX), a technology-driven leader in building and operating regulated financial markets across multiple asset classes, today announced financial results for the third quarter of 2026.

MIAX delivered strong financial results in Q3 2026. Total net revenue grew 20% year-over-year to $131.0 million, adjusted EBITDA increased 47% to $70.8 million, and adjusted EBITDA margin was 54%. Adjusted diluted earnings per share was $0.45. The company’s options business posted a 15% year-over-year increase in average daily volume to 11.1 million contracts.

“MIAX’s lean, high-margin operating model enabled us to deliver strong revenue growth and margin expansion in the third quarter,” said Thomas P. Gallagher, Chairman and Chief Executive Officer of MIAX. “Net revenue grew 20% year-over-year and options market share increased to 17.4%. Adjusted expenses came in below last year’s level and adjusted EBITDA margin expanded by more than 1,000 basis points.”

Mr. Gallagher added: “Our next growth phase is underway, with Bloomberg index futures now available on NinjaTrader and four fertilizer futures contracts recently launched in response to clear member interest. With a strong balance sheet and the technology, licenses and customer relationships to compete in a fast-changing market, MIAX remains well-positioned to deliver long-term value for our shareholders.”

Third Quarter 2026 Highlights

All figures are compared to the third quarter of 2025 unless otherwise stated.

Net revenue, defined as revenues less cost of revenues, grew 20%, or $21.5 million, to $131.0 million, compared to $109.5 million in the prior-year period. The increase was primarily driven by strong options business performance, including increased industry volumes and higher non-transaction revenue.Total operating expenses were $83.8 million, compared to $109.8 million in the prior-year period. The decrease was primarily due to initial public offering (IPO) related expense in 2025.Total adjusted operating expenses of $60.3 million decreased 2% compared to the prior-year period.Operating income was $47.2 million, compared to an operating loss of $0.3 million in the prior-year period.GAAP net income was $52.5 million, compared to a net loss of $102.1 million in the prior-year period.Adjusted earnings increased 25% to $50.1 million, compared to $39.9 million in the prior-year period.Adjusted EBITDA increased 47% to $70.8 million, compared to $48.0 million in the prior-year period, driven primarily by strong growth in net revenues.Adjusted EBITDA margin expanded to 54% from 44% in the prior-year period.Diluted EPS of $0.47 compared to $(1.46) in the prior-year period.Adjusted diluted EPS of $0.45 compared to $0.42 in the prior-year period.

Third Quarter 2026 Business Updates

MIAX options exchanges reached average daily volume of 11.1 million contracts in the third quarter of 2026, a 15.2% year-over-year (YoY) increase.MIAX options exchanges achieved market share of 17.4% in the third quarter of 2026, compared to 17.2% in the prior year period.MIAX options exchange revenue per contract declined 4.9% YoY to $0.098.

Summary of Selected Unaudited Condensed Consolidated Financial Results
($000, except per share amounts and percentages)

Consolidated Third Quarter Results

3Q26

September 30,
2026

3Q25

September 30,
2025

Change

Total revenues less cost of revenues (“Net revenue”)

$ 131,009

$ 109,483

20 %

Operating income (loss)

$ 47,204

$ (305)

Net income (loss) attributable to MIH stockholders

$ 52,472

$ (102,080)

Diluted EPS

$ 0.47

$ (1.46)

Adjusted earnings**

$ 50,056

$ 39,947

25 %

Adjusted diluted EPS**

$ 0.45

$ 0.42

7 %

EBITDA**

$ 67,635

$ (93,941)

Adjusted EBITDA**

$ 70,809

$ 48,019

47 %

Adjusted EBITDA margin %***

54 %

44 %

23 %

* Not meaningful

** Reconciliation of non-GAAP results is included in the tables below. See “Non-GAAP Financial Information” below.

*** Adjusted EBITDA margin represents adjusted EBITDA divided by net revenue.

Segment Results
($000)

Net Revenue by Business Segment

3Q26

September 30,
2026

3Q25

September 30,
2025

Change

Options

$ 112,586

$ 94,499

19 %

Equities

6,660

4,352

53 %

Futures

4,978

4,786

4 %

International

6,139

5,533

11 %

Corporate/Other

646

313

106 %

Total

$ 131,009

$ 109,483

20 %

Options

Net revenue grew 19% to $112.6 million, compared to $94.5 million in the prior-year period. Growth was primarily driven by both net transaction fees and non-transaction fees. Net transaction fees increased due to higher industry volume, and higher market share, partially offset by lower revenue per contract (RPC). Higher non-transaction fees were primarily driven by increased member connections, and 2026 fee increases.Operating income increased 44% to $73.9 million, compared to $51.4 million in the prior year period. Growth was primarily due to higher net revenues, and lower expenses as the prior-year period included accelerated share-based compensation expenses.Adjusted EBITDA grew 25% to $86.5 million, compared to $69.1 million in the prior-year period.

Equities

Net revenue grew 53% to $6.7 million, compared to $4.4 million in the prior-year period. The increase was primarily due to higher net transaction fees from improved capture.Operating loss of $2.9 million in the third quarter, compared to an operating loss of $4.9 million in the prior-year period. Growth was primarily due to higher net revenues.Adjusted EBITDA of $1.0 million, compared to ($0.9) million in the prior-year period.

Futures

Net revenue was $5.0 million, compared to $4.8 million in the prior-year period. Net transaction fees were relatively flat as increases in agricultural future revenues were offset by inverted financial futures revenue.Operating loss was $12.2 million, compared to an operating loss of $18.5 million in the prior year period. Growth was primarily due to lower expenses as the prior-year period included accelerated share-based compensation expenses.Adjusted EBITDA of ($8.4) million, compared to ($9.6) million in the prior-year period.

International

Net revenue was $6.1 million, compared to $5.5 million in the prior-year period. The increase was primarily due to increased total listed securities by The International Stock Exchange Group Limited (TISE).Operating income was $1.3 million, compared to $0.8 million in the prior-year period. The increase was primarily due to increased net revenue.Adjusted EBITDA of $2.3 million, compared to $1.7 million in the prior-year period.

Capital and Liquidity

As of September 30, 2026, MIAX had cash and cash equivalents of $698.9 million and total debt of $1.5 million.

FY 2026 Guidance

The company is updating full year 2026 expense guidance and now expects:

Adjusted operating expenses, which exclude share-based compensation, depreciation and amortization, litigation and litigation settlement expenses, and provision for notes receivable in a range between $254 million and $257 million, down from previous guidance of between $260 million and $270 million;Share-based compensation expense in a range between $30 million and $32 million, compared to previous guidance of between $29 million and $32 million;Capital expenditures, including capitalization of internally developed software, in a range between $43 million and $46 million, compared to previous guidance of between $40 million and $45 million;Depreciation and amortization expense in a range between $36 million and $38 million, compared to previous guidance of between $35 million and $39 million;Adjusted effective tax rate post valuation allowance release in a range between 26% and 28%, compared to previous guidance of between 27% and 29%.

Webcast and Conference Call

MIAX will host a webcast and conference call to review its third quarter financial results today, October 29, 2026 at 5:00 p.m. ET. Participants can access the call at 866-652-5200 (International dial-in 412-317-6060) or access the webcast on the Investor Relations section of MIAX’s website at ir.miaxglobal.com. A webcast recording and corresponding presentation will be archived under Events & Presentations at the above link following the event.

Non-GAAP Financial Information

Adjusted earnings, a non-GAAP financial measure, is defined as net income (loss) attributable to MIH adjusted for share-based compensation, investment gain/loss, litigation costs and settlement, acquisition-related costs, change in fair value of puttable warrants issued with debt, change in fair value of puttable common stock, gain on sale of business, unrealized gain/loss on derivative and digital assets, loss on sale of intangible asset, impairment charges, warrant modifications, one time IPO payments, loss on extinguishment of debt, provision for notes receivable, and non-GAAP tax adjustments.

Adjusted EBITDA, a non-GAAP financial measure, is defined as net income (loss) attributable to MIH adjusted for interest expense and amortization of debt discount costs, interest income, income tax provision and depreciation and amortization, share-based compensation, investment gain/loss, litigation costs and settlement, acquisition-related costs, change in fair value of puttable warrants issued with debt, change in fair value of puttable common stock, gain on sale of business, unrealized gain/loss on derivative and digital assets, loss on sale of intangible asset, impairment charges, warrant modifications, one time IPO payments, loss on extinguishment of debt, and provision for notes receivable.

Adjusted EBITDA margin, a non-GAAP financial measure, is defined as adjusted EBITDA divided by revenues less cost of revenues.

Adjusted diluted EPS, a non-GAAP financial measure, is defined as adjusted earnings divided by diluted weighted average shares outstanding used for adjusted diluted earnings per share (which includes the impact of anti-dilutive securities on a GAAP basis).

Certain components of the guidance given in this presentation with respect to our financial performance for the full year of 2026 are provided on a non-GAAP basis only without providing the most comparable guidance on a GAAP basis or a quantitative reconciliation to guidance provided on a GAAP basis. Information is presented in this manner because the preparation of such guidance on a GAAP basis and such reconciliation could not be accomplished without unreasonable efforts. The company does not have access to certain information that would be necessary to provide such guidance on a GAAP basis or such reconciliation, including non-recurring items that are not indicative of the company’s ongoing operations. The company does not believe that this information is likely to be significant to an assessment of the company’s ongoing operations.

For a reconciliation of our non-GAAP results to our GAAP results, see the tables below.

About MIAX

Miami International Holdings, Inc. (NYSE: MIAX) is a technology-driven leader in building and operating regulated financial markets across multiple asset classes and geographies. MIAX® operates eight exchanges across options, futures, equities and international markets including MIAX Options®, MIAX Pearl®, MIAX Emerald®, MIAX Sapphire®, MIAX Pearl Equities™, MIAX Futures®, The Bermuda Stock Exchange, and The International Stock Exchange (TISE). MIAX also owns Dorman Trading, a full-service Futures Commission Merchant and Notice Registered Broker-Dealer with the National Futures Association for purposes of facilitating transactions of security futures. To learn more about MIAX please visit www.miaxglobal.com.

Disclaimer and Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements, including forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements describe future expectations, plans, results, or strategies and are generally preceded by words such as “may,” “future,” “plan” or “planned,” “will” or “should,” “expect,” “anticipates,” “eventually” or “projected.” You are cautioned that such statements are based on management’s current expectations and are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements. Additional risks and uncertainties that may cause actual results to differ materially include the risks and uncertainties listed in MIAX’s public filings with the Securities and Exchange Commission. In providing forward-looking statements, the company is not undertaking any duty or obligation to update these statements publicly as a result of new information, future events or otherwise.

All third-party trademarks (including logos and icons) referenced by the company remain the property of their respective owners. Unless specifically identified as such, the company’s use of third-party trademarks does not indicate any relationship, sponsorship, or endorsement between the owners of these trademarks and the company. Any references by the company to third-party trademarks is to identify the corresponding third-party goods and/or services and shall be considered nominative fair use under the trademark law.

Contacts:

Investors
John T. Williams
investor.relations@miaxglobal.com

Media
Andy Nybo
media@miaxglobal.com

Miami International Holdings, Inc. and Subsidiaries
Condensed Consolidated Statements of Operations (Unaudited)
Three and Nine Months Ended September 30, 2026 and 2025
($000, except share amounts)

Three Months Ended September 30,

Nine Months Ended September 30,

2026

2025

2026

2025

Revenues:

Transaction and clearing fees

$ 316,420

$ 292,814

$ 963,714

$ 868,257

Access fees

36,949

27,096

105,247

77,285

Market data fees

13,877

10,730

39,038

30,625

Other revenue

8,937

9,138

25,503

18,472

Total revenues

376,183

339,778

1,133,502

994,639

Cost of revenues:

Liquidity payments

206,313

217,286

636,472

606,983

Brokerage, clearing, and exchange fees

14,212

11,612

45,849

42,547

Section 31 fees

23,028

—

46,004

35,225

Other cost of revenues

1,621

1,397

4,462

3,855

Total cost of revenues

245,174

230,295

732,787

688,610

Revenues less cost of revenues

131,009

109,483

400,715

306,029

Operating expenses:

Compensation and benefits

40,286

68,753

125,642

146,734

Information technology and communication costs

9,601

9,290

29,286

25,689

Depreciation and amortization

9,453

8,229

26,319

21,337

Occupancy costs

2,938

3,568

9,158

9,018

Professional fees and outside services

15,386

10,807

38,241

30,159

Marketing and business development

1,249

759

5,409

2,077

Acquisition-related costs

—

2,901

Litigation settlement

—

30,000

—

General, administrative, and other

4,892

8,382

15,691

18,835

Total operating expenses

83,805

109,788

279,746

256,750

Operating income (loss)

47,204

(305)

120,969

49,279

Non-operating (expense) income:

Change in fair value of puttable common stock

—

(338)

—

(2,229)

Change in fair value of puttable warrants issued with debt

—

(255)

—

(1,172)

Interest income

5,941

2,658

15,581

5,371

Interest expense and amortization of debt issuance costs

(42)

(3,378)

(131)

(12,710)

Loss on sale of intangible asset

—

(2,054)

Unrealized gain (loss) on derivative and digital assets

9,797

7,979

6,919

(39,039)

Loss on debt extinguishment

—

(107,656)

—

(107,656)

Gain on sale of business

—

50,570

—

Other, net

1,181

(1,595)

(998)

10,765

Income (loss) before income tax provision

64,081

(102,890)

192,910

(99,445)

Income tax benefit (expense)

(11,609)

810

73,994

(528)

Net income (loss) attributable to Miami International Holdings, Inc

$ 52,472

$ (102,080)

$ 266,904

$ (99,973)

Weighted-average shares of common stock outstanding

Basic

99,113,041

70,128,197

95,430,903

66,168,315

Diluted

110,799,280

70,128,197

110,249,406

66,168,315

Net income (loss) per share attributable to common stock

Basic

$ 0.53

$ (1.46)

$ 2.80

$ (1.51)

Diluted

$ 0.47

$ (1.46)

$ 2.42

$ (1.51)

Miami International Holdings, Inc. and Subsidiaries
Condensed Consolidated Balance Sheets (Unaudited)
September 30, 2026 and December 31, 2025
($000, except share and per share amounts)

September 30, 2026

December 31, 2025

Assets

Current assets:

Cash and cash equivalents

$ 698,854

$ 433,648

Cash and securities segregated under federal and other regulations

26,797

27,618

Accounts receivable, net

95,949

98,107

Restricted cash

13,667

6,005

Clearing house performance bonds and guarantee funds

93,062

70,078

Receivables from broker-dealers, futures commission merchants, and clearing
organizations

152,509

133,533

Current portion of derivative assets

8,554

6,017

Other current assets

40,298

39,232

Assets held for sale

—

40,976

Total current assets

1,129,690

855,214

Investments

28,850

19,180

Fixed assets, net

59,520

46,854

Internally developed software, net

36,667

36,333

Goodwill

62,000

62,211

Other intangible assets, net

168,947

170,774

Deferred tax asset, net

63,787

—

Derivative assets, net of current portion

—

5,114

Other assets, net

68,679

63,745

Total assets

$ 1,618,140

$ 1,259,425

Liabilities and Stockholders’ Equity

Current liabilities:

Accounts payable and other liabilities

$ 73,438

$ 69,780

Accrued compensation payable

36,201

39,412

Current portion of long-term debt

1,517

1,508

Deferred transaction revenues

8,960

9,572

Clearing house performance bonds and guarantee funds

92,562

69,578

Payables to customers

152,070

144,641

Payables to clearing organizations

—

Liabilities held for sale

—

2,758

Total current liabilities

364,748

337,260

Deferred income taxes

10,877

22,386

Other non-current liabilities

22,229

18,762

Total liabilities

397,854

378,408

Commitments and contingencies

—

Stockholders’ equity:

Common stock – voting and nonvoting, par value $0.001 (600,000,000 authorized
(400,000,000 voting, 200,000,000 nonvoting)); 100,758,991 issued and 99,945,378
outstanding common stock at September 30, 2026 and 85,890,086 issued and
85,536,287 outstanding common stock at December 31, 2025

100

Common stock in treasury, at cost, 813,613 shares at September 30, 2026 and 353,799
shares at December 31, 2025

(27,229)

(8,232)

Additional paid-in capital

1,614,769

1,522,143

Accumulated deficit

(365,435)

(632,339)

Accumulated other comprehensive loss, net

(1,919)

(641)

Total stockholders’ equity

1,220,286

881,017

Total liabilities and stockholders’ equity

$ 1,618,140

$ 1,259,425

Reconciliation of Net Income (Loss) to EBITDA and Adjusted EBITDA

The following table is a reconciliation of net income (loss) allocated to common stockholders to EBITDA and adjusted EBITDA by segment ($000):

Three Months Ended September 30, 2026

Options

Equities

Futures

International

Corporate /
Other

Total

Net income (loss) allocated to common stockholders

$ 74,112

$ (2,874)

$ (9,999)

$ 11,295

$ (20,062)

$ 52,472

Interest expense and amortization of debt issuance costs

—

Interest income

(213)

—

(261)

(222)

(5,245)

(5,941)

Income tax expense

—

11,540

11,609

Depreciation and amortization

4,626

1,601

2,087

521

618

9,453

EBITDA

78,525

(1,273)

(8,173)

11,663

(13,107)

67,635

Share-based compensation(1)

3,086

669

1,605

384

1,795

7,539

Investment gain (loss)(2)

—

(1,811)

—

724

(1,087)

Litigation costs(3)

188

—

251

Unrealized gain on derivative and digital assets(4)

—

(9,797)

—

(9,797)

Provision for notes receivable(5)

4,694

1,574

—

6,268

Adjusted EBITDA

$ 86,493

$ 970

$ (8,379)

$ 2,250

$ (10,525)

70,809

(1)

Share-based compensation represents expenses associated with stock options of $3.3 million, restricted stock awards of $1.0 million, restricted stock units of $3.3 million, and warrants of less than $0.1 million that have been granted to employees, directors and service providers. The 2026 expense of $7.5 million is made up of $6.4 million to employees within compensation and benefits, $0.2 million to service providers within professional fees and outside services, and $0.9 million to directors within general, administrative, and other.

(2)

Investment gain of $1.1 million represents an unrealized gain on marketable equity securities.

(3)

Litigation costs associated with litigation related to the Nasdaq matter.

(4)

Reflects the aggregate unrealized gain resulting from the mark-to-market valuation of digital assets related to unlocked Pyth tokens and derivative assets related to the 125 million Pyth tokens that remain locked by the Pyth Network as of September 30, 2026.

(5)

Represents provision for certain CAT costs that are no longer expected to be recoverable.

Three Months Ended September 30, 2025

Options

Equities

Futures

International

Corporate /
Other

Total

Net income (loss) allocated to common stockholders

$ 51,846

$ (4,858)

$ (18,426)

$ 8,477

$ (139,119)

$ (102,080)

Interest expense and amortization of debt issuance costs

—

3,342

3,378

Interest income

(482)

—

(207)

(111)

(1,858)

(2,658)

Income tax (benefit) expense

—

396

(1,206)

(810)

Depreciation and amortization

3,826

1,570

1,692

435

706

8,229

EBITDA

55,190

(3,288)

(16,905)

9,197

(138,135)

(93,941)

Share-based compensation(1)

13,322

2,399

7,103

511

5,763

29,098

Investment loss(2)

—

239

—

239

Litigation costs(3)

608

—

203

811

Change in fair value of puttable warrants issued with debt(4)

—

255

Change in fair value of puttable common stock(5)

—

338

Impairment charges(6)

—

1,978

Unrealized gain on derivative and digital assets(7)

—

(7,979)

—

(7,979)

One time IPO payments(8)

—

8,048

Warrant modifications(9)

—

1,516

Loss on extinguishment of debt(10)

—

107,656

Adjusted EBITDA

$ 69,120

$ (889)

$ (9,563)

$ 1,729

$ (12,378)

$ 48,019

(1)

Share-based compensation represents expenses associated with stock options of $3.7 million, restricted stock awards of $25.1 million and warrants of $0.3 million that have been granted to employees, directors and service providers. The 2025 expense of $29.1 million is made up of $27.8 million to employees within compensation and benefits, $0.9 million to service providers within professional fees and outside services, and $0.4 million to directors within general, administrative, and other.

(2)

Investment loss of $0.2 million represents an unrealized loss on available for sale marketable equity securities.

(3)

Litigation costs are associated with litigation related to the Nasdaq matter.

(4)

The change in fair value of warrants issued with debt represents the change in fair value of outstanding puttable warrants issued in connection with the issuance of the 2029 Senior Secured Term Loan. The right to put warrants terminated upon completion of the IPO in August 2025.

(5)

The change in fair value of puttable common stock represents the change in fair value of outstanding puttable common stock issued in connection with the Company’s ERPs I and II that had an associated put right which required the Company to repurchase a certain percentage of the fair market value of the award upon exercise. The right to put shares terminated upon completion of the IPO in August 2025.

(6)

Impairment charges of $2.0 million related to owned land and building impairments.

(7)

Reflects the unrealized gain resulting from the mark-to-market valuation of the 250 million Pyth tokens that remain locked by the Pyth Network as of September 30, 2025.

(8)

One time IPO bonuses paid to certain employees and termination payments to former directors.

(9)

Represents expense recognized upon the extension of expiration date of certain warrants.

(10)

Represents write-off of the unamortized debt discount and issuance costs and payment of prepayment premium related to the repayment of the 2029 Senior Secured Term Loan.

Segment Operating Results

The following sets forth our results of operations by segment ($000):

Three Months Ended September 30, 2026

Options

Equities

Futures

International

Corporate /
Other

Total

Revenues:

Transaction and clearing fees

$ 274,261

$ 22,788

$ 19,300

$ 71

$ —

$ 316,420

Access fees

32,689

3,824

455

(57)

36,949

Market data fees

10,211

2,082

1,512

(8)

13,877

Other revenue

125

—

2,505

5,950

357

8,937

Total revenues

317,286

28,694

23,772

6,139

292

376,183

Cost of revenues:

Liquidity payments

185,334

16,862

4,117

—

206,313

Brokerage, clearing, and exchange fees

1,325

185

12,702

—

14,212

Section 31 fees

18,041

4,987

—

23,028

Other cost of revenues(1)

—

1,975

—

(354)

1,621

Total cost of revenues

204,700

22,034

18,794

—

(354)

245,174

Revenues less cost of revenues

112,586

6,660

4,978

6,139

646

131,009

Operating expenses:

Compensation and benefits

18,589

3,909

9,476

2,566

5,746

40,286

Information technology and communication costs

4,359

1,608

2,763

595

276

9,601

Depreciation and amortization

4,626

1,601

2,087

521

618

9,453

Occupancy costs

1,439

186

449

240

624

2,938

Professional fees and outside services

7,552

1,813

517

268

5,236

15,386

Marketing and business development

145

849

140

1,249

General, administrative, and other

1,977

376

1,002

530

1,007

4,892

Total operating expenses

38,687

9,534

17,143

4,794

13,647

83,805

Operating income (loss)

73,899

(2,874)

(12,165)

1,345

(13,001)

47,204

Non-operating (expense) income:

Interest income

213

—

261

222

5,245

5,941

Interest expense and amortization of debt
issuance costs

—

(42)

Unrealized gain on derivative and digital assets

—

9,797

—

9,797

Other, net

—

1,905

—

(724)

1,181

Income (loss) before income tax provision

74,112

(2,874)

(9,999)

11,364

(8,522)

64,081

Income tax expense

—

(69)

(11,540)

(11,609)

Net income (loss) attributable to Miami International
Holdings, Inc

$ 74,112

$ (2,874)

$ (9,999)

$ 11,295

$ (20,062)

$ 52,472

(1)

Futures segment includes $0.4 million related to access fees, $0.6 million related to market data fees, and $1.0 million related to other revenue. Corporate / Other segment includes $(0.4) million related to other revenue.

Three Months Ended September 30, 2025

Options

Equities

Futures

International

Corporate /
Other

Total

Revenues:

Transaction and clearing fees

$ 245,406

$ 31,899

$ 15,424

$ 85

$ —

$ 292,814

Access fees

23,076

3,761

275

(57)

27,096

Market data fees

7,011

2,368

1,279

(8)

10,730

Other revenue

1,047

—

2,386

5,327

378

9,138

Total revenues

276,540

38,028

19,364

5,533

313

339,778

Cost of revenues:

Liquidity payments

180,950

33,470

2,866

—

217,286

Brokerage, clearing, and exchange fees

1,091

206

10,315

—

11,612

Section 31 fees

—

Other cost of revenues(1)

—

1,397

—

1,397

Total cost of revenues

182,041

33,676

14,578

—

230,295

Revenues less cost of revenues

94,499

4,352

4,786

5,533

313

109,483

Operating expenses:

Compensation and benefits

27,373

4,712

16,574

2,720

17,374

68,753

Information technology and communication costs

3,896

1,819

2,653

663

259

9,290

Depreciation and amortization

3,826

1,570

1,692

435

706

8,229

Occupancy costs

1,807

227

703

259

572

3,568

Professional fees and outside services

4,189

514

265

305

5,534

10,807

Marketing and business development

150

326

148

759

General, administrative, and other

1,894

332

1,109

269

4,778

8,382

Total operating expenses

43,135

9,210

23,322

4,750

29,371

109,788

Operating income (loss)

51,364

(4,858)

(18,536)

783

(29,058)

(305)

Non-operating (expense) income:

Change in fair value of puttable warrants issued
with debt

—

(255)

Change in fair value of puttable common stock

—

(338)

Interest income

482

—

207

111

1,858

2,658

Interest expense and amortization of debt
issuance costs

—

(36)

—

(3,342)

(3,378)

Loss on extinguishment of debt

—

(107,656)

Unrealized gain on derivative and digital assets

—

7,979

—

7,979

Other, net

—

(61)

—

(1,534)

(1,595)

Income (loss) before income tax provision

51,846

(4,858)

(18,426)

8,873

(140,325)

(102,890)

Income tax benefit (expense)

—

(396)

1,206

810

Net income (loss) attributable to Miami International
Holdings, Inc

$ 51,846

$ (4,858)

$ (18,426)

$ 8,477

$ (139,119)

$ (102,080)

(1)

Includes $0.4 million related to access fees, $0.4 million related to market data fees, and $0.7 million related to other revenue.

The following summarizes revenues less cost of revenues, operating expenses, operating income (loss), adjusted EBITDA and adjusted EBITDA margin for our business segments ($000, except percentages):

Options

Equities

Three Months Ended

September 30,

Percent

September 30,

Percent

2026

2025

Change

2026

2025

Change

Revenues less cost of revenues

$ 112,586

$ 94,499

19.1 %

$ 6,660

$ 4,352

53.0 %

Operating expenses

38,687

43,135

(10.3) %

9,534

9,210

3.5 %

Operating income (loss)

$ 73,899

$ 51,364

43.9 %

$ (2,874)

$ (4,858)

Adjusted EBITDA(1)

$ 86,493

$ 69,120

25.1 %

$ 970

$ (889)

Adjusted EBITDA margin(2)

76.8 %

73.1 %

14.6 %

Futures

International

Three Months Ended

September 30,

Percent

September 30,

Percent

2026

2025

Change

2026

2025

Change

Revenues less cost of revenues

$ 4,978

$ 4,786

4.0 %

$ 6,139

$ 5,533

11.0 %

Operating expenses

17,143

23,322

(26.5) %

4,794

4,750

0.9 %

Operating income (loss)

$ (12,165)

$ (18,536)

$ 1,345

$ 783

71.8 %

Adjusted EBITDA(1)

$ (8,379)

$ (9,563)

$ 2,250

$ 1,729

30.1 %

Adjusted EBITDA margin(2)

36.7 %

31.2 %

* Not meaningful

(1)

See Reconciliation of Net income (loss) to EBITDA and Adjusted EBITDA above.

(2)

Adjusted EBITDA margin represents adjusted EBITDA divided by revenues less cost of revenues.

Reconciliations of GAAP Net Income (Loss) to Adjusted Earnings

The following table is a reconciliation of net income (loss) allocated to common stockholders to adjusted earnings ($000):

Three Months Ended

Nine Months Ended

September 30,

2026

2025

2026

2025

Net income (loss) allocated to common stockholders

$ 52,472

$ (102,080)

$ 266,904

$ (99,973)

Share-based compensation(1)

7,539

29,098

23,502

48,007

Investment (gain) loss(2)

(1,087)

239

1,553

(10,320)

Litigation costs and settlement(3)

251

811

36,036

2,687

Impairment charges(4)

—

1,978

—

2,717

Acquisition-related costs(5)

—

2,901

Change in fair value of puttable warrants issued with debt(6)

—

255

—

1,172

Change in fair value of puttable common stock(7)

—

338

—

2,229

Loss on sale of intangible asset(8)

—

2,054

Unrealized (gain) loss on derivative and digital assets(9)

(9,797)

(7,979)

(6,919)

39,039

Gain on sale of business(10)

—

(50,570)

—

Provision for notes receivable(11)

6,268

—

6,268

—

One time IPO payments(12)

—

8,048

—

8,048

Warrant modifications(13)

—

1,516

—

1,516

Loss on extinguishment of debt(14)

—

107,656

—

107,656

Total non-GAAP pre-tax adjustments

3,174

141,960

9,870

207,706

Income tax (expense) benefit related to items above(15)

(720)

675

—

One-off discrete tax adjustments(16):

Release of valuation allowance as of January 1, 2026

—

(109,161)

—

Deferred tax re-measurements

—

15,806

—

Other(17)

(4,870)

—

(35,424)

—

Total non-GAAP tax adjustments

(5,590)

(128,104)

—

Adjusted earnings

$ 50,056

$ 39,947

$ 148,670

$ 107,733

(1)

Share-based compensation represents expenses associated with stock options, restricted stock awards, restricted stock units, and warrants that have been granted to employees, directors and service providers.

(2)

2026 represents the unrealized gain or loss on marketable equity securities. Three months ended September 30, 2025 represents an unrealized loss on available for sale marketable equity securities. The nine months ended September 30, 2025 represents an unrealized gain of $8.6 million from the TISE acquisition, and $1.7 million of unrealized gain on available for sale marketable equity securities.

(3)

Litigation costs and settlement associated with litigation related to the Nasdaq matter.

(4)

Impairment charges related to owned land and building impairments.

(5)

Relates to the TISE acquisition.

(6)

(7)

(8)

Represents the realized loss on the second tranche of the 125 million Pyth tokens that were unlocked in the second quarter of 2025 by the Pyth Network and sold by BSX during the second quarter of 2025.

(9)

Reflects the aggregate unrealized gain or loss resulting from the mark-to-market valuation of digital assets related to unlocked Pyth tokens and derivative assets related to Pyth tokens that remain locked by the Pyth Network as of each balance sheet date.

(10)

Represents the gain on the sale of MIAXdx in January 2026.

(11)

Represents provision for certain CAT costs that are no longer expected to be recoverable.

(12)

One time IPO bonuses paid to certain employees and termination payments to former directors.

(13)

Represents expense recognized upon the extension of expiration date of certain warrants.

(14)

Represents write-off of the unamortized debt discount and issuance costs and payment of prepayment premium related to the repayment of the 2029 Senior Secured Term Loan.

(15)

The income tax effect of the adjustments takes into account the tax treatment and related tax rate(s) that apply to each adjustment in the applicable tax jurisdiction(s).

(16)

Removes from Adjusted earnings any one-off discrete tax adjustments that are unrelated to our core operating performance.

(17)

Primarily relates to the removal of the permanent tax benefit for the excess tax deduction on share-based compensation compared to the book expense.

Earnings Per Share

The following table sets forth the computation of diluted net income (loss) and adjusted diluted earnings per share ($000, except share and per share data):

Three Months Ended

September 30,

2026

2025

Net income (loss) attributable to MIH

$ 52,472

$ (102,080)

Diluted weighted-average common shares outstanding

110,799,280

70,128,197

Diluted net income (loss) per share

$ 0.47

$ (1.46)

Adjusted earnings

$ 50,056

$ 39,947

Diluted weighted average shares outstanding used for
adjusted diluted earnings per share

110,799,280

96,100,563

Adjusted diluted earnings per share

$ 0.45

$ 0.42

Key Business Metrics
Three and Nine Months Ended September 30, 2026 and 2025

Three Months Ended
September 30,

Increase/
(Decrease)

Percent
Change

Nine Months Ended
September 30,

Increase/
(Decrease)

Percent
Change

2026

2025

2026

2025

Options:

Number of trading days

—

— %

187

186

0.5 %

Total contracts:

Market contracts – Equity and ETF (in thousands)

4,083,844

3,573,731

510,113

14.3 %

12,029,228

10,042,003

1,987,225

19.8 %

MIH contracts – Equity andETF (in thousands)

709,660

615,910

93,750

15.2 %

2,053,729

1,674,370

379,359

22.7 %

Average daily volume (“ADV”)(defined below)(1)

Market ADV – Equity andETF (in thousands)(1)

63,810

55,840

7,970

14.3 %

64,327

53,989

10,338

19.1 %

MIHADV – Equity andETF (in thousands)(1)

11,088

9,624

1,464

15.2 %

10,983

9,002

1,981

22.0 %

MIH market share

17.4 %

17.2 %

0.2 pts

1.2 %

17.1 %

16.7 %

0.4 pts

2.4 %

Total Options revenue per contract (“RPC”)(2)

$0.098

$0.103

$(0.005)

(4.9) %

$0.110

$0.108

$0.002

1.9 %

U.S. Equities:

Number of trading days

—

— %

187

186

0.5 %

Total shares:

Market shares (in millions)

1,084,303

1,125,194

(40,891)

(3.6) %

3,556,467

3,206,789

349,678

10.9 %

MIH shares (in millions)

7,085

12,058

(4,973)

(41.2) %

29,393

34,708

(5,315)

(15.3) %

ADV(1):

Market ADV (in millions)(1)

16,942

17,581

(639)

(3.6) %

19,019

17,241

1,778

10.3 %

MIH ADV (in millions)(1)

111

188

(77)

(41.0) %

157

187

(30)

(16.0) %

MIH market share

0.7 %

1.1 %

(0.4) pts

(36.4) %

0.8 %

1.1 %

(0.3) pts

(27.3) %

Equities capture (per 100 shares) (defined below)(3)

$0.011

$(0.015)

$0.026

$0.004

$(0.016)

$0.020

Futures:

Agricultural:

Number of trading days

—

— %

187

—

— %

Agricultural products total contracts

731,384

513,406

217,978

42.5 %

2,194,520

2,736,313

(541,793)

(19.8) %

Agricultural products ADV(1)

11,428

8,022

3,406

42.5 %

11,735

14,633

(2,898)

(19.8) %

Agricultural products RPC(2)

$2.323

$2.369

$(0.046)

(1.9) %

$2.198

$2.233

$(0.035)

(1.6) %

Financial:

Number of trading days from launch(4)

Financial products total contracts

171,702

410,185

Financial products ADV(4)

2,683

4,364

Financial; products RPC(2)

$(1.428)

$(1.624)

International:

Total listed securities (period end)

6,092

5,808

284

4.9 %

6,092

5,808

284

4.9 %

* Percentage calculation is not meaningful.

(1)

ADV is calculated as total contracts or shares for the period divided by total trading days for the period.

(2)

RPC represents transaction and clearing fees less liquidity payments, brokerage, clearing and exchange fees and Section 31 fees (Net Transaction Fees), divided by total contracts traded during the period.

(3)

Equities capture per one hundred shares refers to net transaction fees, divided by one-hundredth of total shares.

(4)

Financial futures launched on May 17 (trade date May 18). Accordingly, ADV is calculated as total contracts for the period divided by total trading days for the period beginning on May 18.

View original content to download multimedia:https://www.prnewswire.co.uk/news-releases/miami-international-holdings-reports-third-quarter-2026-results-302924232.html

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