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MarketAxess MKTX Technology Services — Contract With Customer Liability Payments Received

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Other financials

Income statement

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Revenue$218.4M-0.5%
Operating income$89.9M-2.2%
Net income$68.1M-4.3%
EPS (diluted)$1.93+1.0%

Balance sheet

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Cash & equivalents$419.7M-35.5%
Total debt$178.9M+158%
Total equity$1.2B-10.6%
Total assets$2.4B+22.6%

Cash flow

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Operating cash flow-$75.3M-354%
CapEx$649.0K-46.2%
Free cash flow-$75.6M-373%

Valuation

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Market cap$5.72B-18.3%
Enterprise value$5.48B-14.7%
P/E18.7×-12.8×
P/S6.6×-1.8×

Profitability

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Operating margin40.5%-1.0pp
Net margin35.2%+8.6pp
FCF margin31.1%-19.1pp

Returns & leverage

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Return on equity23.3%+6.9pp
Debt / equity0.1×+0.1×

Where this comes from

Reported directly by MarketAxess in its filing.

Tagged under the XBRL concept mktx:ContractWithCustomerLiabilityPaymentsReceived.

The source filing: MarketAxess’s 10-Q, filed August 7, 2026.

Filed
Aug 7, 2026, 4:10 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001193125-26-340249
Line itemDecember 31, 2025Revenue billed in advance of services to be performedRevenue recognized for services performed during the periodForeign Currency TranslationJune 30, 2026
Information services$3,343$8,750$(8,793)—$3,300
Post-trade services1,37613,121(12,659)(20)1,818
Technology services3124,106(4,126)—292
Total deferred revenue$5,031$25,977$(25,578)$(20)$5,410

Item 1. Financial Statements (Unaudited)

FAQ

What is MarketAxess's technology services — contract with customer liability payments received?
MarketAxess (MKTX) reported technology services — contract with customer liability payments received of $2.06M in Q2 2026.
How has MarketAxess's technology services — contract with customer liability payments received changed year-over-year?
MarketAxess's technology services — contract with customer liability payments received increased by 2.8% year-over-year, from $2M to $2.06M.
What does technology services — contract with customer liability payments received mean?
This metric tracks the total cash inflows received from customers for technology services that have not yet been recognized as revenue. It provides insight into the company's ability to collect upfront payments and manage working capital within its technology services segment. This is a key indicator of customer demand and cash flow generation prior to service delivery.

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