Products & Services · Contract with Customer, Liability
Initial Listings — Contract with Customer, Liability
Nasdaq, Inc. Initial Listings — Contract with Customer, Liability increased by 3.1% to $99.00M in Q1 2026 compared to the prior quarter. Year-over-year, this metric grew by 8.8%, from $91.00M to $99.00M. Over 2 years (FY 2023 to FY 2025), Initial Listings — Contract with Customer, Liability shows relatively stable performance with a -4.7% CAGR.
Analysis
StatementSegment
CategoryGrowth
SignalContext dependent
VolatilityModerate
First reportedQ4 2022
Last reportedQ1 2026
Rolls up toContract with Customer, Liability
How to read this metric
An increase suggests strong new business acquisition, while a decrease may indicate a slowdown in new listings or the amortization of existing contracts.
Detailed definition
This represents the deferred revenue balance associated with initial listing fees paid by companies to join the exchange...
Peer comparison
Similar to deferred revenue or contract liabilities found in other subscription-based or service-oriented financial exchanges.
Metric ID:
ndaq_segment_initial_listings_contract_with_customer_liabilityHistorical Data
14 periods
| 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 | $116.00M | $112.00M | $105.00M | $100.00M | $97.00M | $92.00M | $90.00M | $90.00M | $89.00M | $91.00M | $93.00M | $96.00M | $96.00M | $99.00M |
| QoQ Change | — | -3.4% | -6.3% | -4.8% | -3.0% | -5.2% | -2.2% | +0.0% | -1.1% | +2.2% | +2.2% | +3.2% | +0.0% | +3.1% |
| YoY Change | — | — | — | — | -16.4% | -17.9% | -14.3% | -10.0% | -8.2% | -1.1% | +3.3% | +6.7% | +7.9% | +8.8% |
Range$89.00M – $116.00M
CAGR-4.8%
Avg YoY Growth-4.1%
Median YoY Growth-4.7%
Current Streak5 quarters growth
Similar Metrics at Other Companies
Frequently Asked Questions
- What is Nasdaq, Inc.'s initial listings — contract with customer, liability?
- Nasdaq, Inc. (NDAQ) reported initial listings — contract with customer, liability of $99.00M in Q1 2026.
- How has Nasdaq, Inc.'s initial listings — contract with customer, liability changed year-over-year?
- Nasdaq, Inc.'s initial listings — contract with customer, liability increased by 8.8% year-over-year, from $91.00M to $99.00M.
- What is the long-term trend for Nasdaq, Inc.'s initial listings — contract with customer, liability?
- Over 2 years (2023 to 2025), Nasdaq, Inc.'s initial listings — contract with customer, liability has grown at a -4.7% compound annual growth rate (CAGR), from $414.00M to $376.00M.
- What does initial listings — contract with customer, liability mean?
- The amount of upfront listing fees collected from new companies that have not yet been recognized as revenue.