Companies · NDAQ
Nasdaq, Inc.
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Latest analysis
Updated Jul 23, 2026
Nasdaq Q2 2026: 15% net revenue growth, record Index AUM above $1 trillion, and Verafin agentic AI workforce scaling to 750 clients signal durable platform momentum.
Nasdaq delivered its strongest quarterly performance in recent history in Q2 2026, with net revenue of $1.5 billion (+15%), solutions revenue of $1.2 billion (+17%), and diluted EPS of $1.07 (+25%) — the first time quarterly EPS has exceeded $1.00 in company history. The Financial Technology division led with 15% revenue growth and 16% ARR growth across all three subdivisions, anchored by Verafin's 22% revenue growth and an agentic AI workforce now deployed across 750 clients. Capital Access Platforms benefited from a historic IPO cycle — SpaceX's $86 billion listing was the largest IPO in history — while Index ETP AUM surpassed $1 trillion for the first time, driven by record net inflows of $109 billion over the trailing twelve months.
Tone: bullishRevenue
$8.3B
NDAQ 10-K · FY 2025
Employees
9,525
Revenue FY2024
$7.4B
EBITDA margin
60%
Profile
NDAQ 10-K Item 1 · Feb 12, 2026Nasdaq, Inc. is a global technology platform operating exchanges, financial crime management, regulatory reporting, and capital markets technology businesses across more than 55 countries. The company serves approximately 3,800 clients including all Global Systemically Important Banks, powering more than 135 marketplaces. Its three segments — Capital Access Platforms, Financial Technology, and Market Services — span data and listings, index licensing, compliance software, and trading and clearing.
Read filing description ↓ Collapse description ↑
Nasdaq is a leading technology platform that powers the world's economies. We architect the infrastructure of the world's most modern markets, power the innovation economy, and build trust in the financial system. We empower economic opportunity by designing and deploying the technology, data, and advanced analytics that enable our clients to capture opportunities, navigate risk, and strengthen resilience. We manage, operate and provide our products and services in three business segments: Capital Access Platforms, Financial Technology and Market Services. Our Capital Access Platforms segment delivers liquidity, transparency and integrity to the corporate issuer and investment community by empowering our clients to effectively navigate the capital markets, achieve their sustainability goals, and drive governance excellence. The Financial Technology segment delivers world leading platforms that improve the liquidity, transparency and integrity of the global economy by architecting and operating the world's best markets. This segment comprises Financial Crime Management Technology, Regulatory Technology and Capital Markets Technology businesses. We are a leading global technology solutions provider and partner to exchanges, clearing organizations, central securities depositories, banks, brokers, buy-side firms and corporate businesses. Through our Financial Technology solutions, we power more than 135 marketplaces (including 19 owned and operated by Nasdaq) and regulators, in more than 55 countries. We serve approximately 3,800 global clients, including all Global Systemically Important Banks, or G-SIBs. Our Market Services segment includes our equity derivative trading and clearing, cash equity trading, fixed income, currency and commodities trading. We operate 19 exchanges across several asset classes, including derivatives, commodities, cash equity, debt, structured products and ETPs.
Primary products
- Nasdaq TotalView
- Nasdaq Basic
- Nasdaq IR Insight
- Nasdaq Boardvantage
- Nasdaq Metrio
- eVestment platform
Business segments
End markets
Geographies
Named customers
Our Market Services businesses receive revenues from a relatively small number of customers concentrated in the financial industry, so any event that impacts one or more customers or the financial industry in general could impact our revenues.
Named competitors
“We are a global, client-focused technology company with expertise in markets and financial technology. We deploy robust technology capabilities and have developed innovative solutions to further address client needs across the financial ecosystem. Our business segments complement each other and we believe that our strong competitive position in large, high-growth markets positions us for sustained growth.” Competitive position, as stated in the filing
Revenue commentary · FY 2025
Total revenues increased 11.6% for the year ended December 31, 2025 compared with 2024, driven by growth across all three segments — Capital Access Platforms, Financial Technology, and Market Services.
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