FINHUB Insights

NDAQ · Q1 FY26 · Jan 1 – Mar 31, 2026

Nasdaq Q1 FY26: where the revenue came from and where it went

Nasdaq Q1 FY26: revenue $2.1B (+2% year over year). Net profit $0.5B. Largest cohort Market Services $1B. The whole income statement as a sankey diagram from the SEC filing.

Period
Jan 1 – Mar 31, 2026
Reported
Apr 24, 2026 10-Q
Sankey diagram of Nasdaq's income statement for Q1 FY26: revenue of $2.1 billion splits into segments and flows out into costs, taxes and net profit.

Tap the diagram to enlarge · figures in billions of dollars

Revenue$2.1B +2% year over year
Gross profit$1.4B 66% margin
Operating profit$0.7B 31% margin
Net profit$0.5B 24% margin

The numbers

All figures in billions of U.S. dollars, for Q1 FY26 (period ends Mar 31, 2026).
ItemValueShare of revenueYear over year
Revenue 2.1 100% +2%
Market Services 1 48%
Capital Access Platforms 0.6 29%
Financial Technology 0.5 24%
Cost of revenue−0.733%
Gross profit1.466% margin+7pp
G&A−01%+1pp
Other−0.834%+0pp
Operating profit0.731% margin+5pp
Tax−0.2
Net profit0.524%+5pp
Filing on EDGAR More quarters of NDAQ

Source of the numbers: structured XBRL data from the filing (10-Q). The diagram is generated automatically and checked against EDGAR before release. How we calculate it → About and methodology.

Older quarters