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Investor Relations14 Oct 2025
Boost Your Earnings Season Strategy With Real‑Time Alerts
Quartr Pro provides real time alerts, trend analysis and live coverage, giving analysts and investors instant insights to act faster in earnings.
Tradeweb Markets (TW) investor relations material
Tradeweb Markets Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2025 earnings summary30 Jul, 2025
Executive summary
Quarterly revenue reached $513M, up 26.7% year-over-year, with international revenue up 40.8%.
Adjusted net income increased 23.7% to $206.1M; adjusted diluted EPS rose 24.3% to $0.87.
Adjusted EBITDA margin expanded to 54.2%, up 70 bps year-over-year; adjusted EBITDA totaled $277.9M.
Record trading volumes and strong client adoption of electronic protocols and innovation across asset classes.
Quarterly cash dividend increased 20% to $0.12 per share.
Financial highlights
Trading revenues totaled $474.7M, up 28.4% year-over-year; transaction fees and commissions were $429.8M.
Free cash flow for the trailing twelve months was $951.7M, up 31.9%; cash and equivalents stood at $1.6B.
Adjusted expenses increased 24.1% year-over-year to $252.6M, mainly from higher compensation and technology costs.
Operating income rose to $199.9M from $162.5M year-over-year.
Adjusted EBIT margin was 50.7%, up from 49.7% year-over-year.
Outlook and guidance
2025 adjusted expense guidance raised to $1.0B–$1.05B, trending toward the midpoint, reflecting accelerated investment.
Capex and capitalized software development expected at $99–109M; depreciation and amortization guidance at $176M.
LSEG market data contract revenue guidance at $90M.
July average daily revenue trending 20% higher year-over-year, with double-digit volume growth across key asset classes.
Guidance revised to reflect higher adjusted expenses due to strong business momentum and growth investments.
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Next Tradeweb Markets earnings date
Q3 202529 Oct, 2025
Next Tradeweb Markets earnings date
Q3 202529 Oct, 2025
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Eferix Drawings Google Play
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Frequently asked questions
Tradeweb Markets Inc. operates as an electronic marketplace for over-the-counter fixed income, derivatives, and ETFs in the Americas, Europe, the Middle East, Africa, Asia Pacific, and internationally. It operates "open" or "multidealer-to-client" trading platforms for institutional investors and dealers to trade fixed income products; and "request/quote" or "single dealer-to-client" platforms for institutions to execute cash treasuries with dealers.
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