Cboe reported record Q1 2026 results across all segments, with strong derivatives, cash and spot markets, and DataVantage performance. Management raised its DataVantage growth guidance, lowered OpEx guidance due to strategic realignment, and provided a detailed outlook on its new event contracts strategy. Q1 2026 record revenue of $729M (+29% YoY) and adjusted EPS of $3.70 (+48% YoY), driven by strong volume and market share.
Cboe reported record Q1 2026 results across all segments, with strong derivatives, cash and spot markets, and DataVantage performance. Management raised its DataVantage growth guidance, lowered OpEx guidance due to strategic realignment, and provided a detailed outlook on its new event contracts strategy. Q1 2026 record revenue of $729M (+29% YoY) and adjusted EPS of $3.70 (+48% YoY), driven by strong volume and market share.
Cboe reported record Q1 2026 results across all segments, with strong derivatives, cash and spot markets, and DataVantage performance. Management raised its DataVantage growth guidance, lowered OpEx guidance due to strategic realignment, and provided a detailed outlook on its…
Q1 2026 record revenue of $729M (+29% YoY) and adjusted EPS of $3.70 (+48% YoY), driven by strong volume and market share.
Guidance · revenue to 12.5%
Strategic realignment now expects 12-14% annualized OpEx reduction (from 8-10%), with $40-50M in incremental savings; 2026 OpEx guidance lowered to $838-853M.
Management's tone is highly bullish, with record revenues, raised guidance, and a clear strategy for growth in derivatives and new markets.
Guided 2026 CapEx to remain at $73-83 million, with depreciation and amortization of $56-60 million. Investments are focused on core derivatives, spot/off-exchange businesses, event contracts, tokenization, and clearing, funded by disciplined expense management.
Management emphasized record results, raised guidance, and framed strategic actions as positioning for growth, closing with strong enthusiasm about future opportunities.
“58% of the notional value traded in SPX options is trading on the floor. And really only 40%, or call it 42%, is being traded electronically.”
“those two new launches also triggered quite a bit of one-time revenue related to historic data sets to combine with those new products.”
| 지표 | 기간 | 범위 | 중간값 | 상태 |
|---|---|---|---|---|
| Capex | FY2026 | $73M–$83M | $78M | GUIDED |
| Op margin | FY2026 | 74.2% | 74.2% | GUIDED |
| RevenueDATAVANTAGE | FY2026 | 10%–12% | 11% | RAISED |
| Revenue | FY2026 | 10%–15% | 12.5% | GUIDED |
| 제시 시점 | 지표 | 목표 기간 | 가이던스 | 실제 | 결과 |
|---|---|---|---|---|---|
| FY2026 Q2 | EPS | FY2026 Q2 | $3.56 | $3.56 | Met / beat |
Reinforces the long-term licensing partnership between Cboe and S&P DJI, which is critical to Cboe's flagship SPX franchise.
“we were pleased to be joined by our long-term partner, S&P Dow Jones Indices, for the inaugural televised bell ringing on the SIBO floor”
… Last quarter, global trading hours volumes rose more than 32% to a record high, driven by strong growth during Asian hours as we continue onboarding local brokers. We are also investing at home. Our trading floor helps traders to efficiently manage complex multi-leg risk capabilities that can't be replicated electronically and supports broader market liquidity through both direct execution and related hedging activity. On April 6th, we were pleased to be joined by our long-term partner, S&P Dow Jones Indices, for the inaugural televised bell ringing on the SIBO floor as part of our new multi-year collaboration with CNBC. Through our new partnership with CNBC, we are bringing the power and expertise of SIBO's iconic trading floor to a global audience. leveraging a differentiated asset within our market ecosystem to deliver live market insight and investor education, elevate the SIBO brand, and reinforce our leadership in global markets. Turning to event contracts, subject to regulatory approval, we plan to bring our securities-based event contracts to market. Based on our mini SPX contract and leveraging our existing options infrastructure, The product is designed to …
New marketing partnership aims to elevate Cboe's brand and drive engagement with its flagship products.
“Through our new partnership with CNBC, we are bringing the power and expertise of SIBO's iconic trading floor to a global audience.”
… at home. Our trading floor helps traders to efficiently manage complex multi-leg risk capabilities that can't be replicated electronically and supports broader market liquidity through both direct execution and related hedging activity. On April 6th, we were pleased to be joined by our long-term partner, S&P Dow Jones Indices, for the inaugural televised bell ringing on the SIBO floor as part of our new multi-year collaboration with CNBC. Through our new partnership with CNBC, we are bringing the power and expertise of SIBO's iconic trading floor to a global audience. leveraging a differentiated asset within our market ecosystem to deliver live market insight and investor education, elevate the SIBO brand, and reinforce our leadership in global markets. Turning to event contracts, subject to regulatory approval, we plan to bring our securities-based event contracts to market. Based on our mini SPX contract and leveraging our existing options infrastructure, The product is designed to mirror the risk-reward profile of a widely used option strategy, the vertical call spread, allowing investors to take a simple yes or no view on an outcome with defined downside risk and a capped …