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CMC Markets (CMCX) investor relations material
CMC Markets H1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.H1 2026 earnings summary20 Nov, 2025
Executive summary
Net operating income rose 5% year-over-year to £186.2m, driven by strong trading and investing growth, record Australian stockbroking performance, and expanding B2B/API partnerships, including a transformational Westpac deal.
API-driven B2B partnerships fueled exponential account growth, with 70% of new accounts from markets without prior presence and a 2,400% increase in API partnership account openings year-over-year.
Strategic focus on a three-vertical model: D2C, Platform Technology as a Service, and DeFi/Web3, with a "Super App" in development to unify trading, investing, and payments.
Interim dividend increased 77% to 5.5p per share, reflecting strong financial position and confidence in future growth.
Major new partnerships, including Westpac, Currys, and a forthcoming major bank, are expanding distribution and brand reach.
Financial highlights
Net operating income: £186.2m (up 5% YoY); net trading revenue: £138.1m (up 5% YoY); net investing revenue: £26.3m (up 32% YoY), with record Australian stockbroking income up 34% YoY.
Profit before tax reached £49.3m, with a margin of 26.5%; profit after tax was £35.7m; EBITDA was £57.1m.
Operating expenses rose 10% YoY to £136.5m, mainly due to a £5.2m remediation provision in Australia.
Interim dividend per share increased 77% to 5.5p, maintaining a 50% payout of after-tax profit.
Cash and cash equivalents at £222.4m; total assets: £767.4m; own funds ratio: 221%.
Outlook and guidance
Net operating income for FY2026 expected to exceed market expectations by approximately 10%, reflecting strong H2 momentum and B2B/API growth.
Operating expenses for FY2026 anticipated to be marginally above consensus due to remediation and transition costs, but efficiency initiatives are set to improve margins over the next 12–18 months.
Strong pipeline of institutional partnerships and record retail cash balances position the group for continued growth.
Westpac deal: how it solidifies market position
DeFi strategy: how will it monetize tokenized products?
Project Telstar: impact on Group-wide operational efficiency
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Next CMC Markets earnings date
H2 20264 Jun, 2026
Next CMC Markets earnings date
H2 20264 Jun, 2026
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Frequently asked questions
CMC Markets plc, provides financial services to retail, professional, stockbroking, and institutional clients in the United Kingdom and internationally. CMC Markets offers spread betting and contracts for difference (CFDs) across multiple asset categories, including equities, commodities, fixed-interest securities, FTSE indices, foreign currency pairs and cryptocurrencies; spread betting on stocks and shares traded on the London Stock Exchange; CFDs on government bonds and interest rate products; a range of financial futures contracts; and foreign exchange services. It also provides online trading services that enable clients to trade CFDs in both directions without the need to register. CMC Markets plc serves individual investors operating their own accounts as well as clients acting as principals or agents on behalf of other parties through an online service or a mobile app.
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