Nasdaq, Inc. Common StockNDAQ
Scheduled
Nasdaq, Inc. Common Stock Barclays 24th Annual Global Financial Services Conference
Review the key takeaways and the transcript of this earnings call.
PeriodFY 0Duration39 min
Key takeaways
- Nasdaq reported a robust IPO environment with $111 billion raised in the first half of the year, including $86 billion from SpaceX, marking their best half-year performance ever.
- The fintech business saw 15% revenue growth and 16% ARR growth in Q2, driven by strong client engagement and adoption of AI-forward transformation solutions.
- Nasdaq maintains a 73% win rate for IPOs, hosting 7 of the 10 largest operating company IPOs last quarter, supported by its brand, innovation, and trust.
- The index business achieved 35% growth last quarter with over $1 trillion in ETP AUM, including $109 billion of inflows over 12 months, 38% of which came from products launched in the last five years.
- Verifin signed 11 enterprise deals in H1, more than all of last year, with strong adoption of agentic AI solutions improving productivity by four times and enhancing fraud detection.
- Nasdaq's market services business is advancing digital liquidity networks, including the acquisition of Level ATS, tokenization pilots, and collateral management initiatives.
- Nasdaq's cloud migration of Axiom SL enables serving smaller clients and buy-side firms, expanding addressable markets and monetization opportunities.
- Nasdaq generated over $2 billion in free cash flow, continues progressive dividends, and has repurchased about $900 million of shares in H1 with an additional $200-$250 million program launched in Q3.
- Data sales are strong, driven by brokerage houses globally, with significant growth expected around the implementation of Reg NMS 2035 at year-end.
- Nasdaq is focused on organic growth with potential for tuck-in and bolt-on acquisitions but does not anticipate transformative M&A in the near term.
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