MKTX · 10-Q · 2026Q2 · Full report
Operating Expense Trends
MARKETAXESS HOLDINGS INC · 2026-08-07 · Importance 47 · Surprise 14 · From source text
Total expenses increased $13.2 million, or 5.3%, to $261.0 million for the six months ended June 30, 2026, from $247.8 million in the prior-year period. Employee compensation and benefits rose $5.2 million, or 4.1%, primarily because of higher stock-based compensation, pension contributions, benefits and employment taxes, partly offset by lower repositioning charges. Technology and communications expense increased $4.4 million, or 11.7%, due to software and cloud-hosting investments and higher market-data expenses. Marketing and advertising expense increased 15.2% to $5.8 million, while professional and consulting fees rose $0.8 million because of higher legal expense, partly offset by cost-savings initiatives.
Key facts
- Technology and communications expense for the three months ended June 30, 2026: $21,508 (thousands), a 10.7% increase versus $19,421 for the prior year period. source
- Professional and consulting fees for the three months ended June 30, 2026: $7,973 (thousands), a 10.9% increase versus $7,190 for the prior year period. source
- Total expenses for the three months ended June 30, 2026: $128,538 (thousands), a 0.7% increase versus $127,598 for the prior year period. source
- Employee compensation and benefits expense for the three months ended June 30, 2026: $62,182 (thousands), a 4.7% decrease versus $65,237 for the prior year period. source
- Depreciation and amortization for the three months ended June 30, 2026: $19,309 (thousands), a 0.6% increase versus $19,195 for the prior year period. source
- Six months ended June 30, 2026 Employee compensation and benefits: $132,377 (thousands) source
- Six months ended June 30, 2026 Depreciation and amortization: $38,519 (thousands) source
- Six months ended June 30, 2026 Technology and communications expense: $41,868 (thousands) source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| operating_income | positive | realized | +1.4% | Employee compensation and benefits expense for the three months ended June 30, 2026: $62,182 (thousands), a 4.7% decrease versus $65,237… |
| operating_income | negative | realized | -1.0% | Technology and communications expense for the three months ended June 30, 2026: $21,508 (thousands), a 10.7% increase versus $19,421 for… |
| operating_income | negative | realized | -0.4% | Total expenses for the three months ended June 30, 2026: $128,538 (thousands), a 0.7% increase versus $127,598 for the prior year period. |
| operating_income | negative | realized | -0.4% | Professional and consulting fees for the three months ended June 30, 2026: $7,973 (thousands), a 10.9% increase versus $7,190 for the… |
| operating_income | negative | realized | -0.1% | Depreciation and amortization for the three months ended June 30, 2026: $19,309 (thousands), a 0.6% increase versus $19,195 for the prior… |