Nasdaq, Inc. NDAQ Business Segments
| Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | ||
|---|---|---|---|---|---|---|
| Total revenues by Business | ||||||
| Capital Access Platforms | $565M+2.9% | $549M+0.5% | $546M+3.6% | $527M+3.7% | $508M+4.7% | |
| Financial Technology | $517M+3.8% | $498M+9.0% | $457M-1.5% | $464M+7.4% | $432M-1.4% | |
| Market Services | $1.05B+0.4% | $1.04B+10.3% | $946M-13.2% | $1.09B-4.4% | $1.14B+6.4% | |
| Contract with Customer, Liability, Revenue Recognized Including Opening Balance by Product | ||||||
| Annual Listings | $1M0.0% | $1M— | —— | —— | $1M0.0% | |
| Capital Markets Technology | $69M+306% | $17M-52.8% | $36M-23.4% | $47M-30.9% | $68M+143% | |
| Financial Crime Management Technology | $76M+443% | $14M-51.7% | $29M-34.1% | $44M-22.8% | $57M+418% | |
| Initial Listings | $11M+37.5% | $8M0.0% | $8M+14.3% | $7M-36.4% | $11M+57.1% | |
| Other | $4M+33.3% | $3M+50.0% | $2M-33.3% | $3M-50.0% | $6M+100% | |
| Regulatory Technology | $62M+933% | $6M-81.8% | $33M-23.3% | $43M-18.9% | $53M+563% | |
| Workflow & Insights | $80M+371% | $17M-74.2% | $66M+267% | $18M-77.5% | $80M+344% | |
| Total revenues by Geography | ||||||
| All other countries | $614M-45.4% | $1.12B+184% | $396M-1.5% | $402M+3.1% | $390M-17.7% | |
| United States | $1.52B+52.3% | $1B-36.0% | $1.56B-7.5% | $1.69B-1.1% | $1.71B+9.6% |
Chart any of these lines over time, or line them up against competitors.
Compare these in charts →Questions, answered.
- How does Nasdaq, Inc. break its business down?
- Nasdaq, Inc. (NDAQ) reports total revenues by business across 3 parts — Capital Access Platforms, Financial Technology and Market Services. Each is extracted from the segment footnotes and tracked over time.
- Where does Nasdaq, Inc.'s segment data come from?
- Segment breakdowns are pulled from the segment footnotes in Nasdaq, Inc.'s SEC filings (the XBRL dimensional tags), so every line ties back to a reported figure. Switch between quarterly, annual, and TTM, or open any segment for its full history.
