OTC Markets Group (OTCM) investor relations material

Executive summary

• Achieved record gross revenues of $125.3 million in 2025, up 13% year-over-year, with double-digit gains in all four quarters and across all business lines.

• Net income reached $31.1 million, a 14% increase, and GAAP diluted EPS rose to $2.58 from $2.26.

• Operating margin improved by 160 basis points to 31.5% for the year, reflecting revenue growth outpacing expenses.

• Strategic initiatives included the launch of MOON ATS for overnight trading and the OTCID Basic Market, both gaining traction in Q4.

• Cash flow from operations totaled $48.6 million, with $32.6 million returned to shareholders through dividends and buybacks.

Financial highlights

• Q4 gross revenues were $32.7 million, up 15% year-over-year; revenues less transaction-based expenses also up 15%.

• Full-year operating income increased 19% to $38.2 million, net income up 14%, and diluted EPS rose to $2.58.

• Adjusted EBITDA reached $47.6 million, and adjusted diluted EPS was $3.94, both up 15%.

• Free cash flow for 2025 was $48.4 million, up from $31.6 million in the prior year.

• Operating expenses for FY 2025 were $73.9 million, up 7% from the prior year.

Outlook and guidance

• Priorities for 2026 include scaling overnight trading, expanding OTCID, and preparing for digital asset securities.

• Strategic priorities include increasing the number of securities and activity on platforms, growing connected companies and traded dollar volume, mitigating operational risk, and driving financial and operational results to build share value.

• Expect continued growth in international markets and ongoing investment in technology and regulatory initiatives.

• Announced a first quarter 2026 dividend of $0.30 per share.

• Board refreshed stock repurchase program, authorizing up to 300,000 shares for buyback.