The Tel-Aviv Stock Exchange (TASE) Q3 2026 earnings summary

Executive summary

• Q3 revenue rose 19% YoY to NIS 175.3 million; adjusted EBITDA grew 32% to NIS 105.4 million and adjusted net profit rose 39% to NIS 70.3 million.

• 9M revenue increased 31% to NIS 544.0 million, adjusted EBITDA rose 58% to NIS 335.5 million and adjusted net profit grew 74% to NIS 229.2 million.

• Results reflected stronger market activity and resilience amid high volatility and an extended multi-front conflict in Israel.

Financial highlights

• Q3 reported net profit was NIS 68.3 million, up 37% YoY; basic EPS was NIS 0.730, up 33%.

• 9M reported net profit rose 74% to NIS 224.7 million; basic EPS increased 70% to NIS 2.408.

• Q3 expenses increased 4% YoY to NIS 87.6 million, while adjusted expenses rose 2% to NIS 85.6 million; 9M expenses rose 4% to NIS 260.0 million.

• Q3 net financing income declined 35% to NIS 1.7 million; 9M net financing income rose 65% to NIS 7.7 million.

Outlook and guidance

• The 2027–2031 strategic plan targets organic revenue CAGR of 15%–18%, supported by market growth, existing-product maturation and new services.

• Priorities include improving liquidity, widening international access, exploring dual-currency trading and longer hours, expanding FX clearing, and upgrading trading and clearing infrastructure.

• Further growth priorities include data connectivity and digital services, product development, customer-base expansion and strategic collaborations.

• International opportunities may take several years to capture; MSCI Europe inclusion remains an aspiration.