**Nasdaq, Inc. Reports Fiscal Year 2025 Results**
Nasdaq, Inc. (NASDAQ: NDAQ) has released its financial results for the fiscal year ended December 31, 2025, showcasing a revenue increase and improved profitability. The company reported total revenues less transaction-based expenses of $5.249 billion, a 12.9% increase compared to $4.649 billion in 2024. Net income attributable to Nasdaq reached $1.788 billion, a substantial 60.1% increase from $1.117 billion in the previous year. Diluted earnings per share also saw a significant rise, climbing to $3.09 from $1.93 in 2024, representing a 60.3% increase.
The company's financial performance was driven by growth across its three main business segments. Capital Access Platforms reported revenues of $2.137 billion, up 9.9% year-over-year. Financial Technology revenues increased by 14.1% to $1.850 billion, while Market Services revenues rose by 11.7% to $4.214 billion. The company's Annualized Recurring Revenue (ARR) also saw growth, reaching $1.706 billion at the end of 2025. The company's employee base increased to 9,525 full and part-time employees as of December 31, 2025, reflecting the company's continued expansion and investment in its workforce.
Strategic developments during the year included the continued integration of Adenza, which contributed to the growth in the Financial Technology segment. Nasdaq also divested its Solovis business in October 2025, streamlining its portfolio and focusing on core growth areas. In Market Services, the company completed the transfer of its Nordic power futures business to a European exchange in June 2025, with plans to wind down related clearing and trading services in 2026. Nasdaq also continued to invest in technology, particularly in cloud infrastructure and artificial intelligence (AI), to enhance its product offerings and operational efficiency.
Key operational developments included Nasdaq's continued leadership in IPOs, with 281 operating company and SPAC IPOs on The Nasdaq Stock Market in 2025. The company also saw a record number of listing transfers, with over $1.2 trillion in global equity market capitalization switching to Nasdaq. In the Index business, ETP AUM tracking Nasdaq indices reached an all-time high of $882 billion. Looking ahead, Nasdaq plans to launch extended trading hours on The Nasdaq Stock Market in the second half of 2026, subject to regulatory approval, and is exploring the trading of tokenized equity securities and ETPs on its platform.
About NASDAQ, INC.
Nasdaq is a global technology company providing market infrastructure, data, analytics, and trading solutions. It operates stock, options, and fixed income exchanges across North America and Europe, offering listing services, indices, and corporate solutions. Its core value lies in enhancing liquidity, transparency, and integrity of financial markets through innovative, technology-driven platforms and regulatory compliance services.
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