Revenues, less transaction-based expenses:
Intercontinental Exchange Revenues, less transaction-based expenses: increased by 18.9% to $2.98B in Q1 2026 compared to the prior quarter. Year-over-year, this metric grew by 20.4%, from $2.47B to $2.98B. Over 4 years (FY 2021 to FY 2025), Revenues, less transaction-based expenses: shows an upward trend with a 8.6% CAGR. This is a positive signal — higher values indicate stronger performance for this metric.
Analysis
How to read this metric
An increase suggests improved margins on trading activity or a shift toward higher-margin product mixes.
Detailed definition
This metric represents the net revenue retained by the company after accounting for direct costs associated with executi...
Peer comparison
Commonly referred to as 'Net Revenue' in the exchange industry to normalize for varying fee structures.
other_revenues_less_transaction_based_expensesHistorical Data
| Q2 '21 | Q3 '21 | Q4 '21 | Q1 '22 | Q2 '22 | Q3 '22 | Q4 '22 | Q1 '23 | Q2 '23 | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $1.71B | $1.80B | $1.84B | $1.90B | $1.81B | $1.81B | $1.77B | $1.90B | $1.89B | $2.00B | $2.20B | $2.29B | $2.32B | $2.35B | $2.32B | $2.47B | $2.54B | $2.41B | $2.50B | $2.98B |
| QoQ Change | — | +5.6% | +2.1% | +3.2% | -4.5% | -0.2% | -2.4% | +7.2% | -0.4% | +6.1% | +9.9% | +4.0% | +1.2% | +1.4% | -1.1% | +6.5% | +2.8% | -5.2% | +3.9% | +18.9% |
| YoY Change | — | — | — | — | +6.3% | +0.5% | -3.9% | -0.2% | +4.1% | +10.6% | +24.5% | +20.8% | +22.7% | +17.3% | +5.5% | +8.0% | +9.8% | +2.6% | +7.8% | +20.4% |
Product Breakdown
| Segment | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 |
|---|---|---|---|---|---|---|---|---|
| Data and connectivity services | $240.00M | $242.00M | $2.07B | $246.00M | $255.00M | $264.00M | $2.22B | $277.00M |
| Data services revenues | $457.00M | $461.00M | — | $471.00M | — | — | — | — |
| Other | $5.00M | $4.00M | $4.00M | $3.00M | — | — | — | — |
| Recurring revenues | $387.00M | $387.00M | $391.00M | $397.00M | — | — | — | — |
| Services transferred over time related to listings | $122.00M | $122.00M | $123.00M | $122.00M | — | — | — | — |
| Services transferred over time related to regulatory fees, trading permits, and software licenses | $33.00M | $34.00M | $19.00M | $38.00M | — | — | — | — |
| Services transferred over time related to risk management of open interest performance obligations | $101.00M | $105.00M | $102.00M | $120.00M | — | — | — | — |
| Total | $2.32B | $2.35B | $2.32B | $2.47B | $2.54B | $2.41B | $2.50B | $2.98B |
Business Segments
| Segment | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 |
|---|---|---|---|---|---|---|---|---|
| Exchanges Segment | $1.25B | $1.25B | $1.24B | $1.37B | $1.42B | $1.27B | $1.36B | $1.78B |
| Fixed Income and Data Services Segment | $565.00M | $586.00M | $579.00M | $596.00M | $597.00M | $618.00M | $608.00M | $657.00M |
| Mortgage Technology Segment | $506.00M | $509.00M | $508.00M | $510.00M | $531.00M | $528.00M | $532.00M | $539.00M |
| Total | $2.32B | $2.35B | $2.32B | $2.47B | $2.54B | $2.41B | $2.50B | $2.98B |
Geographic Breakdown
| Segment | FY'21 | FY'22 | FY'23 | FY'24 | FY'25 |
|---|---|---|---|---|---|
| Foreign Countries | $2.31B | $2.43B | $2.74B | $3.24B | $3.62B |
| Total | $7.15B | $7.29B | $7.99B | $9.28B | $9.93B |
All segment values are derived from annual filings.
Revenues, less transaction-based expenses: at Other Companies
Frequently Asked Questions
- What is Intercontinental Exchange's revenues, less transaction-based expenses:?
- Intercontinental Exchange (ICE) reported revenues, less transaction-based expenses: of $2.98B in Q1 2026.
- How has Intercontinental Exchange's revenues, less transaction-based expenses: changed year-over-year?
- Intercontinental Exchange's revenues, less transaction-based expenses: increased by 20.4% year-over-year, from $2.47B to $2.98B.
- What is the long-term trend for Intercontinental Exchange's revenues, less transaction-based expenses:?
- Over 4 years (2021 to 2025), Intercontinental Exchange's revenues, less transaction-based expenses: has grown at a 8.6% compound annual growth rate (CAGR), from $7.15B to $9.93B.
- What does revenues, less transaction-based expenses: mean?
- The revenue remaining after paying the direct costs required to process trades.