Latest news with #InteractiveBrokersGroup
Business Wire
01-08-2025
- Business
- Business Wire
Interactive Brokers Group Reports Brokerage Metrics and Other Financial Information for July 2025, Includes Reg.-NMS Execution Statistics
GREENWICH, Conn.--(BUSINESS WIRE)--Interactive Brokers Group, Inc. (Nasdaq: IBKR) an automated global electronic broker, today reported its Electronic Brokerage monthly performance metrics for July. Brokerage highlights for the month included: 3.498 million Daily Average Revenue Trades (DARTs) 1, 27% higher than prior year and 1% higher than prior month. Ending client equity of $685.8 billion, 35% higher than prior year and 3% higher than prior month. Ending client margin loan balances of $67.6 billion, 20% higher than prior year and 4% higher than prior month. Ending client credit balances of $144.3 billion, including $6.0 billion in insured bank deposit sweeps 2, 32% higher than prior year and about even with prior month. 3.958 million client accounts, 32% higher than prior year and 2% higher than prior month. 194 annualized average cleared DARTs 1 per client account. Average commission per cleared Commissionable Order 3 of $2.64 including exchange, clearing and regulatory fees. Key products: Futures include options on futures. We estimate exchange, clearing and regulatory fees to be 57% of the futures commissions. Other financial information for Interactive Brokers Group: GLOBAL 4: The value of the GLOBAL, reported in U.S. dollars, decreased by 0.73% in July and increased by 1.630% for the year to date. In the interest of transparency, we quantify our IBKR PRO clients' all-in cost of trade execution below. For the full multimedia release with graph see link: Average U.S. Reg-NMS stock trade was $19,605 in July (dividing 2c by 1a in table below). In June, IBKR PRO clients' total cost of executing and clearing U.S. Reg.-NMS stocks through IB was about 1.8 basis points of trade money 5, as, measured against a daily VWAP 6 benchmark (3.5 basis points net cost for the rolling twelve months). IBKR PRO Clients' Reg.-NMS Stock Trading Expense Detail All amounts are in millions, except % Previous Aug '24 Sep '24 Oct '24 Nov '24 Dec '24 Jan '25 Feb '25 Mar '25 Apr '25 May '25 June '25 July '25 12 Months #1a - Number of orders Buys 9.84 8.38 10.93 11.40 13.32 12.74 12.40 12.19 13.79 12.15 12.36 13.94 143.44 Sells 7.53 6.54 8.33 8.62 9.66 8.97 9.08 8.71 10.16 9.49 9.57 10.51 107.17 Total 17.37 14.92 19.26 20.02 22.98 21.71 21.48 20.90 23.95 21.65 21.94 24.45 250.61 #1b - Number of shares purchased or sold Shares bought 4,154 3,614 4,645 4,744 5,517 5,223 4,946 5,047 6,008 5,659 5,422 6,915 61,892 Shares sold 3,960 3,436 4,390 4,497 5,232 4,868 4,738 4,804 5,850 5,212 5,100 6,444 58,530 Total 8,114 7,050 9,035 9,241 10,749 10,090 9,683 9,851 11,858 10,871 10,522 13,358 120,422 #2 - Trade money including price, commissions and fees 2a Buy money $182,908 $155,758 $190,627 $204,300 $214,806 $208,418 $200,026 $216,767 $254,062 $222,977 $222,050 $242,089 $2,514,788 2b Sell money $186,274 $154,825 $188,444 $201,932 $215,520 $203,359 $204,689 $218,670 $259,783 $219,486 $219,444 $237,255 $2,509,681 2c Total $369,182 $310,583 $379,071 $406,232 $430,326 $411,778 $404,715 $435,437 $513,845 $442,463 $441,494 $479,345 $5,024,470 #3 - Trade value at Daily VWAP 3a Buy value $182,849 $155,692 $190,537 $204,249 $214,660 $208,258 $199,957 $216,676 $254,052 $223,005 $222,033 $241,994 $2,513,962 3b Sell value $186,440 $154,890 $188,493 $201,995 $215,621 $203,305 $204,744 $218,725 $259,985 $219,608 $219,540 $237,248 $2,510,596 3c Total $369,289 $310,582 $379,030 $406,243 $430,281 $411,563 $404,702 $435,401 $514,038 $442,613 $441,573 $479,242 $5,024,557 #4 - Total trade expense, including commissions and fees, relative to Daily VWAP 4a Buys (2a-3a) $58.6 $66.6 $90.7 $51.4 $145.7 $160.6 $68.5 $90.6 $9.6 ($28.0) $17.0 $95.3 $826.6 4b Sells (3b-2b) $166.0 $65.7 $49.6 $62.3 $100.9 ($54.3) $55.2 $55.2 $202.8 $122.0 $96.5 ($7.6) $914.4 4c Total trade expense $224.6 $132.3 $140.3 $113.8 $246.6 $106.4 $123.7 $145.8 $212.4 $94.0 $113.5 $87.7 $1,740.9 Trade expense as percentage of trade money 4c/2c 0.061% 0.043% 0.037% 0.028% 0.057% 0.026% 0.031% 0.033% 0.041% 0.021% 0.026% 0.018% 0.035% #5 - Trade expense categories 5a Total commissions & fees $38.1 $33.2 $41.9 $43.5 $47.4 $46.2 $45.5 $45.7 $52.7 $44.5 $41.5 $51.4 $531.6 5b Execution cost (4c-5a) $186.5 $99.1 $98.4 $70.3 $199.2 $60.2 $78.2 $100.0 $159.7 $49.5 $72.0 $36.3 $1,209.4 #6 - Trade expense categories as percentage of trade money Total commissions & fees (5a/2c) 0.010% 0.011% 0.011% 0.011% 0.011% 0.011% 0.011% 0.010% 0.010% 0.010% 0.010% 0.010% 0.011% Execution cost (5b/2c) 0.051% 0.032% 0.026% 0.017% 0.046% 0.015% 0.020% 0.023% 0.031% 0.011% 0.016% 0.008% 0.024% Net Expense to IB Clients 0.061% 0.043% 0.037% 0.028% 0.057% 0.026% 0.031% 0.033% 0.041% 0.021% 0.026% 0.018% 0.035% Expand The above illustrates that the rolling twelve months' average all-in cost of an IBKR PRO client U.S. Reg.-NMS stock trade was 3.5 basis points. ________________ Note 1: Daily Average Revenue Trades (DARTs) – customer orders divided by the number of trading days in the period. Note 2: FDIC insured client bank deposit sweep program balances with participating banks. These deposits are not reported in the Company's statement of financial condition. Note 3: Commissionable Order – a customer order that generates commissions. Note 4: In connection with our currency diversification strategy, we have determined to base our net worth in GLOBALs, a basket of 10 major currencies in which we hold our equity. The total effect of the currency diversification strategy is reported in Comprehensive Income and the components are reported in (1) Other Income and (2) Other Comprehensive Income ('OCI') on the balance sheet. The effect of the GLOBAL on our comprehensive income can be estimated by multiplying the total equity for the period by the change in the U.S. dollar value of the GLOBAL during the same period. Note 5: Trade money is the total amount of money clients spent or received, including all commissions and fees. Note 6: Consistent with the clients' trading activity, the computed VWAP benchmark includes extended trading hours. _________________ More information, including historical results for each of the above metrics, can be found on the investor relations page of the Company's corporate web site, About Interactive Brokers Group, Inc.: Interactive Brokers Group affiliates provide automated trade execution and custody of securities, commodities, foreign exchange, and forecast contracts around the clock on over 160 markets in numerous countries and currencies from a single unified platform to clients worldwide. We serve individual investors, hedge funds, proprietary trading groups, financial advisors and introducing brokers. Our four decades of focus on technology and automation have enabled us to equip our clients with a uniquely sophisticated platform to manage their investment portfolios. We strive to provide our clients with advantageous execution prices and trading, risk and portfolio management tools, research facilities and investment products, all at low or no cost, positioning them to achieve superior returns on investments. Interactive Brokers has consistently earned recognition as a top broker, garnering multiple awards and accolades from respected industry sources such as Barron's, Investopedia, and many others. Cautionary Note Regarding Forward-Looking Statements: The foregoing information contains certain forward-looking statements that reflect the company's current views with respect to certain current and future events and financial performance. These forward-looking statements are and will be, as the case may be, subject to many risks, uncertainties and factors relating to the company's operations and business environment which may cause the company's actual results to be materially different from any future results, expressed or implied, in these forward-looking statements. Any forward-looking statements in this release are based upon information available to the company on the date of this release. The company does not undertake to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any statements expressed or implied therein will not be realized. Additional information on risk factors that could potentially affect the company's financial results may be found in the company's filings with the Securities and Exchange Commission.
Yahoo
01-08-2025
- Business
- Yahoo
Varied Growth Signals Lifted Interactive Brokers Group (IBKR) in Q2
Baron Funds, an investment management company, released its 'Baron Focused Growth Fund' second-quarter 2025 investor letter. A copy of the letter can be downloaded here. The Fund maintained its strong relative performance from the first quarter into the second quarter, with overall performance improving as it completely recovered from the losses experienced earlier, which were related to economic concerns stemming from newly implemented tariffs by the administration. Most of the firm's company management teams expect the tariffs to have a minimal impact, as costs will likely be shared with suppliers and passed through in small price increases that won't significantly affect demand. As a result of this clarity, the fund appreciated by 12.78% (Institutional Shares) compared to an 11.31% gain for the Russell 2500 Growth Index. In addition, please check the fund's top five holdings to know its best picks in 2025. In its second-quarter 2025 investor letter, Baron Focused Growth Fund highlighted stocks such as Interactive Brokers Group, Inc. (NASDAQ:IBKR). Founded in 1977, Interactive Brokers Group, Inc. (NASDAQ:IBKR) is an automated electronic broker. The one-month return of Interactive Brokers Group, Inc. (NASDAQ:IBKR) was 13.07%, and its shares gained 133.04% of their value over the last 52 weeks. On July 31, 2025, Interactive Brokers Group, Inc. (NASDAQ:IBKR) stock closed at $65.56 per share, with a market capitalization of $111.186 billion. Baron Focused Growth Fund stated the following regarding Interactive Brokers Group, Inc. (NASDAQ:IBKR) in its second quarter 2025 investor letter: "Leading online brokerage house Interactive Brokers Group, Inc. (NASDAQ:IBKR) contributed to performance, driven by strong quarterly results and a rebound in equity markets. The quarter began with considerable turbulence following Liberation Day in early April, when President Trump announced sweeping tariffs on most U.S. trading partners. This initially triggered recession fears and led to a selloff in capital markets stocks, including retail brokers and alternative asset managers. However, as the quarter progressed, many of these tariffs were either paused or rolled back as the Trump administration pursued trade deals. Markets rebounded sharply in May and June, with the S&P 500 and NASDAQ Composite both ending the quarter at record highs. This recovery supported robust business momentum at Interactive Brokers, with continued growth in client accounts and assets under management, elevated trading volumes, and a rebound in margin balances. We continue to own the stock due to its long-term earnings potential and its consistent 30%-plus account growth rate." A skilled senior trader executing an order in a fast paced trading environment. Interactive Brokers Group, Inc. (NASDAQ:IBKR) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 67 hedge fund portfolios held Interactive Brokers Group, Inc. (NASDAQ:IBKR) at the end of the first quarter, which was 69 in the previous quarter. While we acknowledge the potential of Interactive Brokers Group, Inc. (NASDAQ:IBKR) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. In another article, we covered Interactive Brokers Group, Inc. (NASDAQ:IBKR) and shared the list of best multibagger stocks to buy according to hedge funds. In addition, please check out our hedge fund investor letters Q2 2025 page for more investor letters from hedge funds and other leading investors. READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Mint
23-07-2025
- Business
- Mint
Crypto investors are changing the stock market. How to profit.
Americans may vehemently disagree about politics, but they increasingly agree on this: They love U.S. stocks. And they're not alone. International investors increasingly want our stocks, too. That insight is often overshadowed by negative media coverage of President Donald Trump, and especially over his plans to use tariffs to reshape the global order. But recent earnings reports from Charles Schwab and Interactive Brokers Group show that an intense desire to own U.S. stocks is emerging as one of the big themes of 2025. Rather than retreating to the safety of money-market funds, or watching the markets without trading, investors are increasingly embracing the volatility around Trump's policies. Schwab reported that strong transaction volumes drove a 60% increase in its second-quarter net income. Interactive Brokers reported a 170% quarterly increase from 2024 in overnight trading volume, helped by international clients who want U.S. market access—and who are able to trade 10,000 U.S. stocks and exchange-traded funds, equity index futures and options, and bonds outside of regular U.S. trading hours. Should the U.S. dollar remain weak—which seems to be a goal of the Trump administration—global consumers will likely find that U.S. goods will be cheaper. The phenomenon should further boost U.S. stocks with international sales. The initial data points from two important brokerages is a positive for the U.S. stock market. It indicates strong demand for U.S. stocks, especially on declines. We raise this point as many pundits and strategists are advising clients to hedge stocks in anticipation that primary benchmarks, like the S&P 500 index, may soon back off record levels. Sure, there are always risks, especially when markets are at record highs, as they are now. But many investors seem to be taking a page from the playbook of crypto investors, who are increasingly active in the stock and options markets. The price of Bitcoin has enjoyed extraordinary ups and downs, yet Bitcoin investors tend to stay invested. When the crypto markets are at their worst, crypto investors remind each other to HODL, for 'Hold on for Dear Life." Stock investors, conversely, often panic and sell. The influence of crypto investing styles on stock investors is too little appreciated. The next few weeks of corporate earnings reports should make the world's burgeoning love affair with U.S. stocks more apparent. Earnings results have thus far been good, and more positive news should strengthen investors' bullishness. In addition, any good news from Trump's tariff negotiations is likely to be interpreted as even more reason to buy stocks. Investors can position for more stock market upside without sharply increasing their risk with call-option spreads. The strategy—buying a call and selling another with a higher strike price but the same expiration—increases in value if the associated securities increase in price. With the SPDR S&P 500 ETF (ticker: SPY) at $628.86, investors can buy the September $635 call for $12.96 and sell the September $650 call for $5.89. If SPY is at $650 at expiration, the spread is worth a maximum profit of $7.93. The risk: That the ETF is below $635 at expiration, which would mean the trade fails. Aggressive investors could also sell a September $615 put option for $8.75. The put sale positions investors to buy SPY at $615. If the ETF is above $615 at expiration, investors keep the premium. The continued embrace of U.S. stocks anticipates a continuation of the status quo. Any diversions from the script could trigger stock volatility—but stay cool and HODL. Over time, you'll be glad you did. Email: editors@
Yahoo
17-07-2025
- Business
- Yahoo
Interactive Brokers Group Announces 2Q2025 Results
GAAP Diluted EPS of $0.51, Adjusted1 EPS of $0.51 GAAP Net Revenues of $1,480 Million, Adjusted Net Revenues of $1,480 Million GREENWICH, Conn., July 17, 2025--(BUSINESS WIRE)--Interactive Brokers Group, Inc. (Nasdaq: IBKR), an automated global electronic broker, announced results for the quarter ended June 30, 2025. Reported and adjusted diluted earnings per share were both $0.51 for the current quarter. For the year-ago quarter, reported diluted earnings per share2 were $0.41 and $0.44 as adjusted. Reported and adjusted net revenues were both $1,480 million for the current quarter. For the year-ago quarter, reported net revenues were $1,230 million and $1,290 million as adjusted. Reported and adjusted income before income taxes were both $1,104 million for the current quarter. For the year-ago quarter, reported income before income taxes was $880 million and $940 million as adjusted. Financial Highlights (All comparisons are to the year-ago quarter.) Commission revenue increased 27% to 516 million on higher customer trading volumes. Customer trading volume in stocks, options and futures increased 31%, 24% and 18%, respectively. Net interest income increased 9% to $860 million on higher average customer credit balances and securities lending activity. Net interest income includes an approximately $26 million one-time credit related to recovery of taxes withheld at source. Other fees and services decreased 9% to $62 million, led by a decrease of $7 million in risk exposure fees, which was partially offset by a $2 million increase in FDIC sweep fees. Execution, clearing and distribution fees increased 1% to $116 million, driven by a new FINRA Consolidated Audit Trail ("CAT") fee initiated during the fourth quarter of 2024 and higher customer trading volumes in stocks, options and futures, mostly offset by greater capture of liquidity rebates from certain exchanges. General and administrative expenses increased 17% to $61 million, driven primarily by an increase of $8 million in advertising expenses. Pretax profit margin for the current quarter was 75% both as reported and as adjusted. For the year-ago quarter, pretax margin was 72% as reported and 73% as adjusted. Total equity of $18.5 billion. The Interactive Brokers Group, Inc. Board of Directors declared a quarterly cash dividend of $0.08 per share. This dividend is payable on September 12, 2025, to shareholders of record as of September 1, 2025. Business Highlights (All comparisons are to the year-ago quarter.) Customer accounts increased 32% to 3.87 million. Customer equity increased 34% to $664.6 billion. Total DARTs3 increased 49% to 3.55 million. Customer credits increased 34% to $143.7 billion. Customer margin loans increased 18% to $65.1 billion. Other Items Other income increased $78 million to a gain of $42 million. This gain mainly comprised (1) the non-recurrence of a loss of approximately $48 million on positions taken over as a customer accommodation due to a technical issue at the New York Stock Exchange that occurred on the morning of June 3, 2024; (2) $17 million related to our principal trading and investing activities; and (3) $15 million related to our currency diversification strategy. In connection with our currency diversification strategy, we base our net worth in GLOBALs, a basket of 10 major currencies in which we hold our equity. In this quarter, our currency diversification strategy increased our comprehensive earnings by $301 million, as the U.S. dollar value of the GLOBAL increased by approximately 1.62%. The effects of the currency diversification strategy are reported as components of (1) Other Income (loss of $5 million) and (2) Other Comprehensive Income (gain of $306 million). Conference Call Information: Interactive Brokers Group, Inc. will hold a conference call with investors today, July 17, 2025, at 4:30 p.m. ET to discuss its quarterly results. Members of the public who would like to listen to the conference call should register at to obtain the dial-in details. The number should be dialed approximately ten minutes prior to the start of the conference call. The conference call will also be accessible simultaneously, and through replays, as an audio webcast through the Investor Relations section of the Interactive Brokers web site, About Interactive Brokers Group, Inc.: Interactive Brokers Group affiliates provide automated trade execution and custody of securities, commodities, foreign exchange, and forecast contracts around the clock on over 160 markets in numerous countries and currencies from a single unified platform to clients worldwide. We serve individual investors, hedge funds, proprietary trading groups, financial advisors and introducing brokers. Our four decades of focus on technology and automation have enabled us to equip our clients with a uniquely sophisticated platform to manage their investment portfolios. We strive to provide our clients with advantageous execution prices and trading, risk and portfolio management tools, research facilities and investment products, all at low or no cost, positioning them to achieve superior returns on investments. Interactive Brokers has consistently earned recognition as a top broker, garnering multiple awards and accolades from respected industry sources such as Barron's, Investopedia, and many others. Cautionary Note Regarding Forward-Looking Statements: The foregoing information contains certain forward-looking statements that reflect the Company's current views with respect to certain current and future events and financial performance. These forward-looking statements are and will be, as the case may be, subject to many risks, uncertainties and factors relating to the Company's operations and business environment which may cause the Company's actual results to be materially different from any future results, expressed or implied, in these forward-looking statements. Any forward-looking statements in this release are based upon information available to the Company on the date of this release. The Company does not undertake to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any statements expressed or implied therein will not be realized. Additional information on risk factors that could potentially affect the Company's financial results may be found in the Company's filings with the Securities and Exchange Commission. _______________________________________________ 1 See the reconciliation of non-GAAP financial measures starting on page 10.2 Prior period share and per share amounts have been retroactively adjusted to reflect the four-for-one forward stock split, effected in the form of a stock dividend, on June 17, 2025.3 Daily average revenue trades (DARTs) are based on customer orders. INTERACTIVE BROKERS GROUP, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) Three Months Six Months Ended June 30, Ended June 30, 2025 2024 2025 2024 (in millions, except share and per share data) Revenues: Commissions $ 516 $ 406 $ 1,030 $ 785 Other fees and services 62 68 140 127 Other income (loss) 42 (36 ) 107 (18 ) Total non-interest income 620 438 1,277 894 Interest income 1,891 1,828 3,609 3,588 Interest expense (1,031 ) (1,036 ) (1,979 ) (2,049 ) Total net interest income 860 792 1,630 1,539 Total net revenues 1,480 1,230 2,907 2,433 Non-interest expenses: Execution, clearing and distribution fees 116 115 237 216 Employee compensation and benefits 163 146 317 291 Occupancy, depreciation and amortization 24 25 48 51 Communications 11 10 21 20 General and administrative 61 52 123 102 Customer bad debt 1 2 2 7 Total non-interest expenses 376 350 748 687 Income before income taxes 1,104 880 2,159 1,746 Income tax expense 98 71 189 142 Net income 1,006 809 1,970 1,604 Net income attributable to noncontrolling interests 782 630 1,533 1,250 Net income available for common stockholders $ 224 $ 179 $ 437 $ 354 Earnings per share1: Basic $ 0.51 $ 0.42 $ 1.00 $ 0.82 Diluted $ 0.51 $ 0.41 $ 0.99 $ 0.82 Weighted average common shares outstanding1: Basic 438,457,863 430,876,080 437,083,330 429,579,700 Diluted 441,439,924 434,507,344 440,459,081 433,552,552 _______________________________________________ 1 Prior period share and per share amounts have been retroactively adjusted to reflect the four-for-one forward stock split, effected in the form of a stock dividend, on June 17, 2025. INTERACTIVE BROKERS GROUP, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) Three Months Six Months Ended June 30, Ended June 30, 2025 2024 2025 2024 (in millions, except share and per share data) Comprehensive income: Net income available for common stockholders $ 224 $ 179 $ 437 $ 354 Other comprehensive income: Cumulative translation adjustment, before income taxes 79 (2 ) 107 (28 ) Income taxes related to items of other comprehensive income - - - - Other comprehensive income (loss), net of tax 79 (2 ) 107 (28 ) Comprehensive income available for common stockholders $ 303 $ 177 $ 544 $ 326 Comprehensive earnings per share1: Basic $ 0.69 $ 0.41 $ 1.24 $ 0.76 Diluted $ 0.69 $ 0.41 $ 1.23 $ 0.75 Weighted average common shares outstanding1: Basic 438,457,863 430,876,080 437,083,330 429,579,700 Diluted 441,439,924 434,507,344 440,459,081 433,552,552 Comprehensive income attributable to noncontrolling interests: Net income attributable to noncontrolling interests $ 782 $ 630 $ 1,533 $ 1,250 Other comprehensive income - cumulative translation adjustment 227 (8 ) 306 (84 ) Comprehensive income attributable to noncontrolling interests $ 1,009 $ 622 $ 1,839 $ 1,166 _______________________________________________ 1 Prior period share and per share amounts have been retroactively adjusted to reflect the four-for-one forward stock split, effected in the form of a stock dividend, on June 17, 2025. INTERACTIVE BROKERS GROUP, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (UNAUDITED) June 30,2025 December 31,2024 (in millions) Assets Cash and cash equivalents $ 4,688 $ 3,633 Cash - segregated for regulatory purposes 45,057 36,600 Securities - segregated for regulatory purposes 36,972 27,846 Securities borrowed 10,145 5,369 Securities purchased under agreements to resell 9,529 6,575 Financial instruments owned, at fair value 3,856 1,924 Receivables from customers, net of allowance for credit losses 65,346 64,432 Receivables from brokers, dealers and clearing organizations 4,074 2,196 Other assets 1,808 1,567 Total assets $ 181,475 $ 150,142 Liabilities and equity Liabilities Short-term borrowings $ 8 $ 14 Securities loaned 21,229 16,248 Financial instruments sold but not yet purchased, at fair value 494 293 Other payables: Customers 138,417 115,343 Brokers, dealers and clearing organizations 1,682 476 Other payables 1,127 1,171 141,226 116,990 Total liabilities 162,957 133,545 Equity Stockholders' equity 4,825 4,280 Noncontrolling interests 13,693 12,317 Total equity 18,518 16,597 Total liabilities and equity $ 181,475 $ 150,142 June 30, 2025 December 31, 20241 Ownership of IBG LLC Membership Interests Interests % Interests % IBG, Inc. 441,569,584 26.0 % 435,726,456 25.8 % Noncontrolling interests (IBG Holdings LLC) 1,254,573,416 74.0 % 1,254,573,416 74.2 % Total IBG LLC membership interests 1,696,143,000 100.0 % 1,690,299,872 100.0 % _______________________________________________ 1 Prior period share and per share amounts have been retroactively adjusted to reflect the four-for-one forward stock split, effected in the form of a stock dividend, on June 17, 2025. INTERACTIVE BROKERS GROUP, INC. AND SUBSIDIARIES OPERATING DATA EXECUTED ORDER VOLUMES: (in 000's, except %) Customer % Principal % Total % Period Orders Change Orders Change Orders Change 2022 532,064 26,966 559,030 2023 483,015 (9 %) 29,712 10 % 512,727 (8 %) 2024 661,666 37 % 63,348 113 % 725,014 41 % 2Q2024 150,292 13,215 163,507 2Q2025 220,215 47 % 28,372 115 % 248,587 52 % 1Q2025 211,148 28,393 239,541 2Q2025 220,215 4 % 28,372 (0 %) 248,587 4 % CONTRACT AND SHARE VOLUMES: (in 000's, except %) TOTAL Options % Futures1 % Stocks % Period (contracts) Change (contracts) Change (shares) Change 2022 908,415 207,138 330,035,586 2023 1,020,736 12 % 209,034 1 % 252,742,847 (23 %) 2024 1,344,855 32 % 218,327 4 % 307,489,711 22 % 2Q2024 321,141 55,171 73,734,105 2Q2025 393,051 22 % 64,271 16 % 96,450,620 31 % 1Q2025 383,998 61,869 93,934,241 2Q2025 393,051 2 % 64,271 4 % 96,450,620 3 % CUSTOMER Options % Futures1 % Stocks % Period (contracts) Change (contracts) Change (shares) Change 2022 873,914 203,933 325,368,714 2023 981,172 12 % 206,073 1 % 248,588,960 (24 %) 2024 1,290,770 32 % 214,864 4 % 302,040,873 22 % 2Q2024 308,298 54,106 72,480,534 2Q2025 382,195 24 % 63,918 18 % 95,276,485 31 % 1Q2025 369,931 61,381 92,763,867 2Q2025 382,195 3 % 63,918 4 % 95,276,485 3 % PRINCIPAL Options % Futures1 % Stocks % Period (contracts) Change (contracts) Change (shares) Change 2022 34,501 3,205 4,666,872 2023 39,564 15 % 2,961 (8 %) 4,153,887 (11 %) 2024 54,085 37 % 3,463 17 % 5,448,838 31 % 2Q2024 12,843 1,065 1,253,571 2Q2025 10,856 (15 %) 353 (67 %) 1,174,135 (6 %) 1Q2025 14,067 488 1,170,374 2Q2025 10,856 (23 %) 353 (28 %) 1,174,135 0 % _______________________________________________ 1 Includes options on futures INTERACTIVE BROKERS GROUP, INC. AND SUBSIDIARIES OPERATING DATA, CONTINUED CUSTOMER STATISTICS Year over Year 2Q2025 2Q2024 % Change Total Accounts (in thousands) 3,866 2,924 32 % Customer Equity (in billions)1 $ 664.6 $ 497.2 34 % Total Customer DARTs (in thousands) 3,552 2,386 49 % Cleared Customers Commission per Cleared Commissionable Order2 $ 2.65 $ 3.01 (12 %) Cleared Avg. DARTs per Account (Annualized) 206 187 10 % Consecutive Quarters 2Q2025 1Q2025 % Change Total Accounts (in thousands) 3,866 3,616 7 % Customer Equity (in billions)1 $ 664.6 $ 573.5 16 % Total Customer DARTs (in thousands) 3,552 3,519 1 % Cleared Customers Commission per Cleared Commissionable Order2 $ 2.65 $ 2.76 (4 %) Cleared Avg. DARTs per Account (Annualized) 206 220 (6 %) _______________________________________________ (1) Excludes non-Customers. (2) Commissionable Order - a customer order that generates commissions. INTERACTIVE BROKERS GROUP, INC. AND SUBSIDIARIES NET INTEREST MARGIN (UNAUDITED) Three Months Six Months Ended June 30, Ended June 30, 2025 2024 2025 2024 (in millions) Average interest-earning assets Segregated cash and securities $ 78,693 $ 60,057 $ 72,869 $ 60,595 Customer margin loans 60,928 52,422 62,646 49,538 Securities borrowed 7,027 5,898 5,949 5,633 Other interest-earning assets 14,747 11,218 13,601 10,585 FDIC sweeps1 5,226 4,023 5,006 3,942 $ 166,621 $ 133,618 $ 160,071 $ 130,293 Average interest-bearing liabilities Customer credit balances $ 129,998 $ 102,709 $ 124,010 $ 101,110 Securities loaned 17,181 13,688 16,659 12,711 Other interest-bearing liabilities 50 1 58 1 $ 147,229 $ 116,398 $ 140,727 $ 113,821 Net interest income Segregated cash and securities, net2 $ 756 $ 740 $ 1,419 $ 1,504 Customer margin loans3 709 755 1,484 1,433 Securities borrowed and loaned, net 60 25 70 51 Customer credit balances, net3 (857 ) (894 ) (1,674 ) (1,775 ) Other net interest income1/4 193 179 356 354 Net interest income4 $ 861 $ 805 $ 1,655 $ 1,567 Net interest margin ("NIM") 2.07 % 2.42 % 2.09 % 2.42 % Annualized yields Segregated cash and securities 3.86 % 4.96 % 3.93 % 4.99 % Customer margin loans 4.67 % 5.79 % 4.78 % 5.82 % Customer credit balances 2.64 % 3.50 % 2.72 % 3.53 % _______________________________________________ 1 Represents the average amount of customer cash swept into FDIC-insured banks as part of our Insured Bank Deposit Sweep Program. This item is not recorded in the Company's consolidated statements of financial condition. Income derived from program deposits is reported in other net interest income in the table above. 2 Net interest income on "Segregated cash and securities, net" for the three and six months ended June 30, 2025, excludes approximately $26 million of interest income, recorded in the consolidated statements of comprehensive income, related to taxes withheld at source in prior periods, which during the current quarter were determined to be fully refundable. 3 Interest income and interest expense on customer margin loans and customer credit balances, respectively, are calculated on daily cash balances within each customer's account on a net basis, which may result in an offset of balances across multiple account segments (e.g., between securities and commodities segments). 4 Includes income from financial instruments that has the same characteristics as interest, but is reported in other fees and services and other income in the Company's consolidated statements of comprehensive income. For the three and six months ended June 30, 2025 and 2024, $9 million, $17 million, $7 million, and $13 million were reported in other fees and services, respectively. For the three and six months ended June 30, 2025 and 2024, $18 million, $34 million, $6 million, and $15 million were reported in other income, respectively. INTERACTIVE BROKERS GROUP, INC. AND SUBSIDIARIES RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (UNAUDITED) Three Months Six Months Ended June 30, Ended June 30, 2025 2024 2025 2024 (in millions) Adjusted net revenues1 Net revenues - GAAP $ 1,480 $ 1,230 $ 2,907 $ 2,433 Non-GAAP adjustments Currency diversification strategy, net 5 20 (15 ) 22 Mark-to-market on investments2 (5 ) 40 (16 ) 51 Total non-GAAP adjustments - 60 (31 ) 73 Adjusted net revenues $ 1,480 $ 1,290 $ 2,876 $ 2,506 Adjusted income before income taxes1 Income before income taxes - GAAP $ 1,104 $ 880 $ 2,159 $ 1,746 Non-GAAP adjustments Currency diversification strategy, net 5 20 (15 ) 22 Mark-to-market on investments2 (5 ) 40 (16 ) 51 Total non-GAAP adjustments - 60 (31 ) 73 Adjusted income before income taxes $ 1,104 $ 940 $ 2,128 $ 1,819 Adjusted pre-tax profit margin 75 % 73 % 74 % 73 % Three Months Six Months Ended June 30, Ended June 30, 2025 2024 2025 2024 (in millions) Adjusted net income available for common stockholders1 Net income available for common stockholders - GAAP $ 224 $ 179 $ 437 $ 354 Non-GAAP adjustments Currency diversification strategy, net 1 5 (4 ) 5 Mark-to-market on investments2 (1 ) 10 (4 ) 13 Income tax effect of above adjustments3 0 (3 ) 2 (4 ) Total non-GAAP adjustments (0 ) 12 (6 ) 14 Adjusted net income available for common stockholders $ 224 $ 191 $ 431 $ 368 Note: Amounts may not add due to rounding. Three Months Six Months Ended June 30, Ended June 30, 2025 2024 2025 2024 (in dollars) Adjusted diluted EPS1/4 Diluted EPS - GAAP $ 0.51 $ 0.41 $ 0.99 $ 0.82 Non-GAAP adjustments Currency diversification strategy, net 0.00 0.01 (0.01 ) 0.01 Mark-to-market on investments2 (0.00 ) 0.02 (0.01 ) 0.03 Income tax effect of above adjustments3 0.00 (0.01 ) 0.01 (0.01 ) Total non-GAAP adjustments (0.00 ) 0.03 (0.01 ) 0.03 Adjusted diluted EPS $ 0.51 $ 0.44 $ 0.98 $ 0.85 Diluted weighted average common shares outstanding 441,439,924 434,507,344 440,459,081 433,552,552 Note: Amounts may not add due to rounding. Note: The term "GAAP" in the following explanation refers to generally accepted accounting principles in the United States. 1 Adjusted net revenues, adjusted income before income taxes, adjusted net income available for common stockholders and adjusted diluted earnings per share ("EPS") are non-GAAP financial measures. We define adjusted net revenues as net revenues adjusted to remove the effect of our currency diversification strategy and our net mark-to-market gains (losses) on investments2. We define adjusted income before income taxes as income before income taxes adjusted to remove the effect of our currency diversification strategy and our net mark-to-market gains (losses) on investments. We define adjusted net income available to common stockholders as net income available for common stockholders adjusted to remove the after-tax effects attributable to IBG, Inc. of our currency diversification strategy and our net mark-to-market gains (losses) on investments. We define adjusted diluted EPS as adjusted net income available for common stockholders divided by the diluted weighted average number of shares outstanding for the period. Management believes these non-GAAP items are important measures of our financial performance because they exclude certain items that may not be indicative of our core operating results and business outlook and may be useful to investors and analysts in evaluating the operating performance of the business and facilitating a meaningful comparison of our results in the current period to those in prior and future periods. Our currency diversification strategy and our mark-to-market on investments are excluded because management does not believe they are indicative of our underlying core business performance. Adjusted net revenues, adjusted income before income taxes, adjusted net income available to common stockholders and adjusted diluted EPS should be considered in addition to, rather than as a substitute for, GAAP net revenues, income before income taxes, net income attributable to common stockholders and diluted EPS. 2 Mark-to-market on investments represents the net mark-to-market gains (losses) on investments in equity securities that do not qualify for equity method accounting, which are measured at fair value; on our U.S. government and municipal securities portfolios, which are typically held to maturity; and on certain other investments. 3 The income tax effect is estimated using the statutory income tax rates applicable to the Company. 4 Prior period share and per share amounts have been retroactively adjusted to reflect the four-for-one forward stock split, effected in the form of a stock dividend, on June 17, 2025. View source version on Contacts For Interactive Brokers Group, Inc. Investors: Nancy Stuebe, investor-relations@ or Media: Rob Garfield, media@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
17-07-2025
- Business
- Business Wire
Interactive Brokers Group Announces 2Q2025 Results
GREENWICH, Conn.--(BUSINESS WIRE)--Interactive Brokers Group, Inc. (Nasdaq: IBKR), an automated global electronic broker, announced results for the quarter ended June 30, 2025. Reported and adjusted diluted earnings per share were both $0.51 for the current quarter. For the year-ago quarter, reported diluted earnings per share2 were $0.41 and $0.44 as adjusted. Reported and adjusted net revenues were both $1,480 million for the current quarter. For the year-ago quarter, reported net revenues were $1,230 million and $1,290 million as adjusted. Reported and adjusted income before income taxes were both $1,104 million for the current quarter. For the year-ago quarter, reported income before income taxes was $880 million and $940 million as adjusted. Financial Highlights (All comparisons are to the year-ago quarter.) Commission revenue increased 27% to 516 million on higher customer trading volumes. Customer trading volume in stocks, options and futures increased 31%, 24% and 18%, respectively. Net interest income increased 9% to $860 million on higher average customer credit balances and securities lending activity. Net interest income includes an approximately $26 million one-time credit related to recovery of taxes withheld at source. Other fees and services decreased 9% to $62 million, led by a decrease of $7 million in risk exposure fees, which was partially offset by a $2 million increase in FDIC sweep fees. Execution, clearing and distribution fees increased 1% to $116 million, driven by a new FINRA Consolidated Audit Trail ('CAT') fee initiated during the fourth quarter of 2024 and higher customer trading volumes in stocks, options and futures, mostly offset by greater capture of liquidity rebates from certain exchanges. General and administrative expenses increased 17% to $61 million, driven primarily by an increase of $8 million in advertising expenses. Pretax profit margin for the current quarter was 75% both as reported and as adjusted. For the year-ago quarter, pretax margin was 72% as reported and 73% as adjusted. Total equity of $18.5 billion. The Interactive Brokers Group, Inc. Board of Directors declared a quarterly cash dividend of $0.08 per share. This dividend is payable on September 12, 2025, to shareholders of record as of September 1, 2025. Business Highlights (All comparisons are to the year-ago quarter.) Customer accounts increased 32% to 3.87 million. Customer equity increased 34% to $664.6 billion. Total DARTs 3 increased 49% to 3.55 million. increased 49% to 3.55 million. Customer credits increased 34% to $143.7 billion. Customer margin loans increased 18% to $65.1 billion. Other Items Other income increased $78 million to a gain of $42 million. This gain mainly comprised (1) the non-recurrence of a loss of approximately $48 million on positions taken over as a customer accommodation due to a technical issue at the New York Stock Exchange that occurred on the morning of June 3, 2024; (2) $17 million related to our principal trading and investing activities; and (3) $15 million related to our currency diversification strategy. In connection with our currency diversification strategy, we base our net worth in GLOBALs, a basket of 10 major currencies in which we hold our equity. In this quarter, our currency diversification strategy increased our comprehensive earnings by $301 million, as the U.S. dollar value of the GLOBAL increased by approximately 1.62%. The effects of the currency diversification strategy are reported as components of (1) Other Income (loss of $5 million) and (2) Other Comprehensive Income (gain of $306 million). Conference Call Information: Interactive Brokers Group, Inc. will hold a conference call with investors today, July 17, 2025, at 4:30 p.m. ET to discuss its quarterly results. Members of the public who would like to listen to the conference call should register at to obtain the dial-in details. The number should be dialed approximately ten minutes prior to the start of the conference call. The conference call will also be accessible simultaneously, and through replays, as an audio webcast through the Investor Relations section of the Interactive Brokers web site, About Interactive Brokers Group, Inc.: Interactive Brokers Group affiliates provide automated trade execution and custody of securities, commodities, foreign exchange, and forecast contracts around the clock on over 160 markets in numerous countries and currencies from a single unified platform to clients worldwide. We serve individual investors, hedge funds, proprietary trading groups, financial advisors and introducing brokers. Our four decades of focus on technology and automation have enabled us to equip our clients with a uniquely sophisticated platform to manage their investment portfolios. We strive to provide our clients with advantageous execution prices and trading, risk and portfolio management tools, research facilities and investment products, all at low or no cost, positioning them to achieve superior returns on investments. Interactive Brokers has consistently earned recognition as a top broker, garnering multiple awards and accolades from respected industry sources such as Barron's, Investopedia, and many others. Cautionary Note Regarding Forward-Looking Statements: The foregoing information contains certain forward-looking statements that reflect the Company's current views with respect to certain current and future events and financial performance. These forward-looking statements are and will be, as the case may be, subject to many risks, uncertainties and factors relating to the Company's operations and business environment which may cause the Company's actual results to be materially different from any future results, expressed or implied, in these forward-looking statements. Any forward-looking statements in this release are based upon information available to the Company on the date of this release. The Company does not undertake to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any statements expressed or implied therein will not be realized. Additional information on risk factors that could potentially affect the Company's financial results may be found in the Company's filings with the Securities and Exchange Commission. _______________________________________________ 1 See the reconciliation of non-GAAP financial measures starting on page 10. 2 Prior period share and per share amounts have been retroactively adjusted to reflect the four-for-one forward stock split, effected in the form of a stock dividend, on June 17, 2025. 3 Daily average revenue trades (DARTs) are based on customer orders. INTERACTIVE BROKERS GROUP, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) Three Months Six Months Ended June 30, Ended June 30, 2025 2024 2025 2024 (in millions, except share and per share data) Revenues: Commissions $ 516 $ 406 $ 1,030 $ 785 Other fees and services 62 68 140 127 Other income (loss) 42 (36 ) 107 (18 ) Total non-interest income 620 438 1,277 894 Interest income 1,891 1,828 3,609 3,588 Interest expense (1,031 ) (1,036 ) (1,979 ) (2,049 ) Total net interest income 860 792 1,630 1,539 Total net revenues 1,480 1,230 2,907 2,433 Non-interest expenses: Execution, clearing and distribution fees 116 115 237 216 Employee compensation and benefits 163 146 317 291 Occupancy, depreciation and amortization 24 25 48 51 Communications 11 10 21 20 General and administrative 61 52 123 102 Customer bad debt 1 2 2 7 Total non-interest expenses 376 350 748 687 Income before income taxes 1,104 880 2,159 1,746 Income tax expense 98 71 189 142 Net income 1,006 809 1,970 1,604 Net income attributable to noncontrolling interests 782 630 1,533 1,250 Net income available for common stockholders $ 224 $ 179 $ 437 $ 354 Earnings per share1: Basic $ 0.51 $ 0.42 $ 1.00 $ 0.82 Diluted $ 0.51 $ 0.41 $ 0.99 $ 0.82 Weighted average common shares outstanding1: Basic 438,457,863 430,876,080 437,083,330 429,579,700 Diluted 441,439,924 434,507,344 440,459,081 433,552,552 Expand _______________________________________________ 1 Prior period share and per share amounts have been retroactively adjusted to reflect the four-for-one forward stock split, effected in the form of a stock dividend, on June 17, 2025. Expand INTERACTIVE BROKERS GROUP, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) Three Months Six Months Ended June 30, Ended June 30, 2025 2024 2025 2024 (in millions, except share and per share data) Comprehensive income: Net income available for common stockholders $ 224 $ 179 $ 437 $ 354 Other comprehensive income: Cumulative translation adjustment, before income taxes 79 (2 ) 107 (28 ) Income taxes related to items of other comprehensive income - - - - Other comprehensive income (loss), net of tax 79 (2 ) 107 (28 ) Comprehensive income available for common stockholders $ 303 $ 177 $ 544 $ 326 Comprehensive earnings per share1: Basic $ 0.69 $ 0.41 $ 1.24 $ 0.76 Diluted $ 0.69 $ 0.41 $ 1.23 $ 0.75 Weighted average common shares outstanding1: Basic 438,457,863 430,876,080 437,083,330 429,579,700 Diluted 441,439,924 434,507,344 440,459,081 433,552,552 Comprehensive income attributable to noncontrolling interests: Net income attributable to noncontrolling interests $ 782 $ 630 $ 1,533 $ 1,250 Other comprehensive income - cumulative translation adjustment 227 (8 ) 306 (84 ) Comprehensive income attributable to noncontrolling interests $ 1,009 $ 622 $ 1,839 $ 1,166 Expand _______________________________________________ 1 Prior period share and per share amounts have been retroactively adjusted to reflect the four-for-one forward stock split, effected in the form of a stock dividend, on June 17, 2025. Expand INTERACTIVE BROKERS GROUP, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (UNAUDITED) June 30, 2025 December 31, 2024 (in millions) Assets Cash and cash equivalents $ 4,688 $ 3,633 Cash - segregated for regulatory purposes 45,057 36,600 Securities - segregated for regulatory purposes 36,972 27,846 Securities borrowed 10,145 5,369 Securities purchased under agreements to resell 9,529 6,575 Financial instruments owned, at fair value 3,856 1,924 Receivables from customers, net of allowance for credit losses 65,346 64,432 Receivables from brokers, dealers and clearing organizations 4,074 2,196 Other assets 1,808 1,567 Total assets $ 181,475 $ 150,142 Liabilities and equity Liabilities Short-term borrowings $ 8 $ 14 Securities loaned 21,229 16,248 Financial instruments sold but not yet purchased, at fair value 494 293 Other payables: Customers 138,417 115,343 Brokers, dealers and clearing organizations 1,682 476 Other payables 1,127 1,171 141,226 116,990 Total liabilities 162,957 133,545 Equity Stockholders' equity 4,825 4,280 Noncontrolling interests 13,693 12,317 Total equity 18,518 16,597 Total liabilities and equity $ 181,475 $ 150,142 June 30, 2025 December 31, 20241 Ownership of IBG LLC Membership Interests Interests % Interests % IBG, Inc. 441,569,584 26.0 % 435,726,456 25.8 % Noncontrolling interests (IBG Holdings LLC) 1,254,573,416 74.0 % 1,254,573,416 74.2 % Total IBG LLC membership interests 1,696,143,000 100.0 % 1,690,299,872 100.0 % Expand _______________________________________________ 1 Prior period share and per share amounts have been retroactively adjusted to reflect the four-for-one forward stock split, effected in the form of a stock dividend, on June 17, 2025. Expand INTERACTIVE BROKERS GROUP, INC. AND SUBSIDIARIES OPERATING DATA EXECUTED ORDER VOLUMES: (in 000's, except %) Customer % Principal % Total % Period Orders Change Orders Change Orders Change 2022 532,064 26,966 559,030 2023 483,015 (9 %) 29,712 10 % 512,727 (8 %) 2024 661,666 37 % 63,348 113 % 725,014 41 % 2Q2024 150,292 13,215 163,507 2Q2025 220,215 47 % 28,372 115 % 248,587 52 % 1Q2025 211,148 28,393 239,541 2Q2025 220,215 4 % 28,372 (0 %) 248,587 4 % CONTRACT AND SHARE VOLUMES: (in 000's, except %) TOTAL Options % Futures1 % Stocks % Period (contracts) Change (contracts) Change (shares) Change 2022 908,415 207,138 330,035,586 2023 1,020,736 12 % 209,034 1 % 252,742,847 (23 %) 2024 1,344,855 32 % 218,327 4 % 307,489,711 22 % 2Q2024 321,141 55,171 73,734,105 2Q2025 393,051 22 % 64,271 16 % 96,450,620 31 % 1Q2025 383,998 61,869 93,934,241 2Q2025 393,051 2 % 64,271 4 % 96,450,620 3 % CUSTOMER Options % Futures1 % Stocks % Period (contracts) Change (contracts) Change (shares) Change 2022 873,914 203,933 325,368,714 2023 981,172 12 % 206,073 1 % 248,588,960 (24 %) 2024 1,290,770 32 % 214,864 4 % 302,040,873 22 % 2Q2024 308,298 54,106 72,480,534 2Q2025 382,195 24 % 63,918 18 % 95,276,485 31 % 1Q2025 369,931 61,381 92,763,867 2Q2025 382,195 3 % 63,918 4 % 95,276,485 3 % PRINCIPAL Options % Futures1 % Stocks % Period (contracts) Change (contracts) Change (shares) Change 2022 34,501 3,205 4,666,872 2023 39,564 15 % 2,961 (8 %) 4,153,887 (11 %) 2024 54,085 37 % 3,463 17 % 5,448,838 31 % 2Q2024 12,843 1,065 1,253,571 2Q2025 10,856 (15 %) 353 (67 %) 1,174,135 (6 %) 1Q2025 14,067 488 1,170,374 2Q2025 10,856 (23 %) 353 (28 %) 1,174,135 0 % Expand _______________________________________________ 1 Includes options on futures Expand INTERACTIVE BROKERS GROUP, INC. AND SUBSIDIARIES OPERATING DATA, CONTINUED CUSTOMER STATISTICS Year over Year 2Q2025 2Q2024 % Change Total Accounts (in thousands) 3,866 2,924 32 % Customer Equity (in billions)1 $ 664.6 $ 497.2 34 % Total Customer DARTs (in thousands) 3,552 2,386 49 % Cleared Customers Commission per Cleared Commissionable Order2 $ 2.65 $ 3.01 (12 %) Cleared Avg. DARTs per Account (Annualized) 206 187 10 % Consecutive Quarters 2Q2025 1Q2025 % Change Total Accounts (in thousands) 3,866 3,616 7 % Customer Equity (in billions)1 $ 664.6 $ 573.5 16 % Total Customer DARTs (in thousands) 3,552 3,519 1 % Cleared Customers Commission per Cleared Commissionable Order2 $ 2.65 $ 2.76 (4 %) Cleared Avg. DARTs per Account (Annualized) 206 220 (6 %) Expand _______________________________________________ (1) Excludes non-Customers. (2) Commissionable Order - a customer order that generates commissions. Expand INTERACTIVE BROKERS GROUP, INC. AND SUBSIDIARIES NET INTEREST MARGIN (UNAUDITED) Three Months Six Months Ended June 30, Ended June 30, 2025 2024 2025 2024 (in millions) Average interest-earning assets Segregated cash and securities $ 78,693 $ 60,057 $ 72,869 $ 60,595 Customer margin loans 60,928 52,422 62,646 49,538 Securities borrowed 7,027 5,898 5,949 5,633 Other interest-earning assets 14,747 11,218 13,601 10,585 FDIC sweeps1 5,226 4,023 5,006 3,942 $ 166,621 $ 133,618 $ 160,071 $ 130,293 Average interest-bearing liabilities Customer credit balances $ 129,998 $ 102,709 $ 124,010 $ 101,110 Securities loaned 17,181 13,688 16,659 12,711 Other interest-bearing liabilities 50 1 58 1 $ 147,229 $ 116,398 $ 140,727 $ 113,821 Net interest income Segregated cash and securities, net2 $ 756 $ 740 $ 1,419 $ 1,504 Customer margin loans3 709 755 1,484 1,433 Securities borrowed and loaned, net 60 25 70 51 Customer credit balances, net3 (857 ) (894 ) (1,674 ) (1,775 ) Other net interest income1/4 193 179 356 354 Net interest income4 $ 861 $ 805 $ 1,655 $ 1,567 Net interest margin ("NIM") 2.07 % 2.42 % 2.09 % 2.42 % Annualized yields Segregated cash and securities 3.86 % 4.96 % 3.93 % 4.99 % Customer margin loans 4.67 % 5.79 % 4.78 % 5.82 % Customer credit balances 2.64 % 3.50 % 2.72 % 3.53 % Expand _______________________________________________ 1 Represents the average amount of customer cash swept into FDIC-insured banks as part of our Insured Bank Deposit Sweep Program. This item is not recorded in the Company's consolidated statements of financial condition. Income derived from program deposits is reported in other net interest income in the table above. 2 Net interest income on 'Segregated cash and securities, net' for the three and six months ended June 30, 2025, excludes approximately $26 million of interest income, recorded in the consolidated statements of comprehensive income, related to taxes withheld at source in prior periods, which during the current quarter were determined to be fully refundable. 3 Interest income and interest expense on customer margin loans and customer credit balances, respectively, are calculated on daily cash balances within each customer's account on a net basis, which may result in an offset of balances across multiple account segments (e.g., between securities and commodities segments). 4 Includes income from financial instruments that has the same characteristics as interest, but is reported in other fees and services and other income in the Company's consolidated statements of comprehensive income. For the three and six months ended June 30, 2025 and 2024, $9 million, $17 million, $7 million, and $13 million were reported in other fees and services, respectively. For the three and six months ended June 30, 2025 and 2024, $18 million, $34 million, $6 million, and $15 million were reported in other income, respectively. Expand INTERACTIVE BROKERS GROUP, INC. AND SUBSIDIARIES RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (UNAUDITED) Three Months Six Months Ended June 30, Ended June 30, 2025 2024 2025 2024 (in millions) Adjusted net revenues1 Net revenues - GAAP $ 1,480 $ 1,230 $ 2,907 $ 2,433 Non-GAAP adjustments Currency diversification strategy, net 5 20 (15 ) 22 Mark-to-market on investments2 (5 ) 40 (16 ) 51 Total non-GAAP adjustments - 60 (31 ) 73 Adjusted net revenues $ 1,480 $ 1,290 $ 2,876 $ 2,506 Adjusted income before income taxes1 Income before income taxes - GAAP $ 1,104 $ 880 $ 2,159 $ 1,746 Non-GAAP adjustments Currency diversification strategy, net 5 20 (15 ) 22 Mark-to-market on investments2 (5 ) 40 (16 ) 51 Total non-GAAP adjustments - 60 (31 ) 73 Adjusted income before income taxes $ 1,104 $ 940 $ 2,128 $ 1,819 Adjusted pre-tax profit margin 75 % 73 % 74 % 73 % Expand Three Months Six Months Ended June 30, Ended June 30, 2025 2024 2025 2024 (in millions) Adjusted net income available for common stockholders1 Net income available for common stockholders - GAAP $ 224 $ 179 $ 437 $ 354 Non-GAAP adjustments Currency diversification strategy, net 1 5 (4 ) 5 Mark-to-market on investments2 (1 ) 10 (4 ) 13 Income tax effect of above adjustments3 0 (3 ) 2 (4 ) Total non-GAAP adjustments (0 ) 12 (6 ) 14 Adjusted net income available for common stockholders $ 224 $ 191 $ 431 $ 368 Note: Amounts may not add due to rounding. Three Months Six Months Ended June 30, Ended June 30, 2025 2024 2025 2024 (in dollars) Adjusted diluted EPS1/4 Diluted EPS - GAAP $ 0.51 $ 0.41 $ 0.99 $ 0.82 Non-GAAP adjustments Currency diversification strategy, net 0.00 0.01 (0.01 ) 0.01 Mark-to-market on investments2 (0.00 ) 0.02 (0.01 ) 0.03 Income tax effect of above adjustments3 0.00 (0.01 ) 0.01 (0.01 ) Total non-GAAP adjustments (0.00 ) 0.03 (0.01 ) 0.03 Adjusted diluted EPS $ 0.51 $ 0.44 $ 0.98 $ 0.85 Diluted weighted average common shares outstanding 441,439,924 434,507,344 440,459,081 433,552,552 Note: Amounts may not add due to rounding. Expand Note: The term 'GAAP' in the following explanation refers to generally accepted accounting principles in the United States. 1 Adjusted net revenues, adjusted income before income taxes, adjusted net income available for common stockholders and adjusted diluted earnings per share ('EPS') are non-GAAP financial measures. We define adjusted net revenues as net revenues adjusted to remove the effect of our currency diversification strategy and our net mark-to-market gains (losses) on investments 2 . . We define adjusted income before income taxes as income before income taxes adjusted to remove the effect of our currency diversification strategy and our net mark-to-market gains (losses) on investments. We define adjusted net income available to common stockholders as net income available for common stockholders adjusted to remove the after-tax effects attributable to IBG, Inc. of our currency diversification strategy and our net mark-to-market gains (losses) on investments. We define adjusted diluted EPS as adjusted net income available for common stockholders divided by the diluted weighted average number of shares outstanding for the period. Management believes these non-GAAP items are important measures of our financial performance because they exclude certain items that may not be indicative of our core operating results and business outlook and may be useful to investors and analysts in evaluating the operating performance of the business and facilitating a meaningful comparison of our results in the current period to those in prior and future periods. Our currency diversification strategy and our mark-to-market on investments are excluded because management does not believe they are indicative of our underlying core business performance. Adjusted net revenues, adjusted income before income taxes, adjusted net income available to common stockholders and adjusted diluted EPS should be considered in addition to, rather than as a substitute for, GAAP net revenues, income before income taxes, net income attributable to common stockholders and diluted EPS. 2 Mark-to-market on investments represents the net mark-to-market gains (losses) on investments in equity securities that do not qualify for equity method accounting, which are measured at fair value; on our U.S. government and municipal securities portfolios, which are typically held to maturity; and on certain other investments. 3 The income tax effect is estimated using the statutory income tax rates applicable to the Company. 4 Prior period share and per share amounts have been retroactively adjusted to reflect the four-for-one forward stock split, effected in the form of a stock dividend, on June 17, 2025.
