Nasdaq(US:NDAQ) Globenewswire·2025-10-21 11:00Core Insights - Nasdaq, Inc. reported strong financial results for Q3 2025, with net revenue reaching $1.3 billion, a 15% increase year-over-year, and 11% organic growth [2][8][11] - Solutions revenue surpassed $1 billion for the first time, contributing to an annual recurring revenue (ARR) of $3 billion, reflecting a 10% increase year-over-year [5][8] - The company achieved significant milestones in operational efficiency and shareholder returns, including $155 million returned through dividends and $115 million in stock repurchases [6][8] Financial Performance - Total net revenue for Q3 2025 was $1,315 million, up 15% from Q3 2024, with organic growth of 11% [2][11] - Solutions revenue was $1,003 million, a 15% increase year-over-year, with organic growth of 10% [2][11] - Market Services net revenue reached $303 million, reflecting a 14% increase year-over-year, or 13% on an organic basis [2][11] - GAAP diluted EPS grew by 38% to $0.73, while non-GAAP diluted EPS increased by 19% to $0.88 [2][11] Strategic Developments - Nasdaq extended its leadership in listings, welcoming the largest European IPO since 2022, and raised over $14 billion year-to-date in the U.S. listings franchise [15] - The company launched 30 new Index products in Q3, including 18 international products, contributing to record levels of assets under management (AUM) exceeding $800 billion [13][15] - Nasdaq's strategic priorities focus on integrating, innovating, and accelerating growth, with over $150 million in cost reductions achieved [15] Business Segments - Financial Technology revenue increased by 23% to $457 million, with a 12% increase in annualized SaaS revenue, representing 38% of ARR [8][12] - Capital Access Platforms revenue was $546 million, up 9% year-over-year, driven by strong demand in data and listing services [11][29] - Market Services revenues were $946 million, with transaction-based expenses impacting net revenue [29] Expense Management - GAAP operating expenses for Q3 2025 were $729 million, a 4% increase year-over-year, primarily due to higher compensation and technology investments [11][12] - Non-GAAP operating expenses were $583 million, reflecting a 5% organic increase driven by investments in technology and personnel [11][12] - The company updated its 2025 non-GAAP operating expense guidance to a range of $2,305 million to $2,335 million [9]