Overview
- For the full year 2025, revenue rose 26.2% to $3.63 billion and net trading income increased 33.7% to $2.44 billion versus 2024.
- Net income for 2025 reached $912.3 million, resulting in a GAAP net income margin of 25.1%.
- In Q4 2025, total revenue climbed 16% year over year to $969.9 million and net trading income rose 22% to $664.9 million, with quarterly net income at $280.6 million.
- Market Making generated $803.4 million in Q4 revenue, while Execution Services produced $158.2 million on higher commissions and technology services.
- Year-end cash and equivalents totaled $1.13 billion with total assets at $20.15 billion, and the company repurchased 3.5 million shares for $135.3 million as the board declared a $0.24 per-share dividend payable March 16, 2026 to shareholders of record on February 27, 2026.