Nasdaq, Inc. NDAQ Initial Listings — 2028

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ICEAnnual Listing Revenue — Total deferred revenue

$464M+1.3%

ICEAnnual Listing Revenue — Contract With Customer, Liability, Including New Contract Revenue, Recognized

$128M+4.9%

PCTYImplementation services and other — Deferred revenue from nonrefundable upfront fees expected to be recognized in fiscal 2028 and thereafter

$5.92M+74.3%

ICEAnnual Listing Revenue — Additions

$473M+2.6%

PCTYImplementation services and other — Deferred revenue from nonrefundable upfront fees expected to be recognized in fiscal 2027

$17.69M+19.8%

PCTYImplementation services and other — Deferred revenue from nonrefundable upfront fees expected to be recognized in fiscal 2026

$10.88M+0.5%

Questions, answered.

What is Nasdaq, Inc.'s initial listings — 2028?

Nasdaq, Inc. (NDAQ) reported initial listings — 2028 of $17M in Q1 2026.

How has Nasdaq, Inc.'s initial listings — 2028 changed year-over-year?

Nasdaq, Inc.'s initial listings — 2028 decreased by 5.6% year-over-year, from $18M to $17M.

What is the long-term trend for Nasdaq, Inc.'s initial listings — 2028?

Over 2 years (2023 to 2025), Nasdaq, Inc.'s initial listings — 2028 has grown at a 10.6% compound annual growth rate (CAGR), from $72M to $88M.

What does initial listings — 2028 mean?

This represents the portion of deferred revenue from initial listing fees that is contractually expected to be recognized as revenue in the fiscal year 2028. It provides a multi-year outlook on the revenue realization from the company's listing services. This metric is useful for assessing the long-term retention and contract duration of listed companies.