Flash FinanceUS
Pre-market S&P 5007,376.86+0.31% Nasdaq24,579.42+1.09% Dow 3051,285.73-0.46% Russell 20002,754.11+0.89% Nasdaq-10026,989.99+1.35% MidCap 4003,602.50+0.56% SmallCap 6001,673.98+0.05% VIX25.64-9.01% 10Y Yield4.86+0.45% Close of Nov 06, 2026
AI brief of an SEC Form 8-K · MarketAxess (MKTX)

MarketAxess Q4 revenue rises 3.5% to $209.4 million; GAAP EPS $2.51 includes tax benefit

Mixed Impact 3 of 5 earnings Written later

MarketAxess reported fourth-quarter and full-year 2025 results, with Q4 revenue up 3.5% to $209.4 million and full-year revenue up 4% to $846.3 million. Q4 GAAP diluted EPS of $2.51 was lifted by a notable tax reserve benefit of about $31.3 million, while EPS excluding notable items was $1.68, down 3%. The company also gave 2026 guidance for expenses excluding notable items of $530.0 million to $545.0 million and amended its $750.0 million credit agreement, extending maturity to February 2, 2029.

Key points

  • Q4 2025 total revenues were $209.4 million, up 3.5%; full-year 2025 revenues were $846.3 million, up 4%.
  • Q4 2025 GAAP diluted EPS was $2.51 versus $1.73 a year earlier; excluding notable items, diluted EPS was $1.68, down 3%.
  • Full-year 2025 GAAP diluted EPS was $6.64 versus $7.28 in 2024, down 9%; excluding notable items it was $7.39, up 2%.
  • The Credit Facility matures February 2, 2029; $220.0 million was outstanding as of the filing date.

The filing

CompanyMarketAxess (MKTX)
Form8-K, current report
Filed with the SECFeb 6, 2026, 6:30 AM ET
Accession number0001193125-26-040253

Items reported: 1.01 Material Definitive Agreement2.02 Results of Operations2.03 New Direct Financial Obligation8.01 Other Events

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 12:59 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on February 06, 2026.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.