18:50:59 EDT Wed 05 Aug 2026
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OTC Markets Group Reports Second Quarter 2026 Financial Results Delivering Strong Revenue, Operating Income, and Earnings Growth

2026-08-05 17:00 ET - News Release

Second Quarter 2026 Highlights:

  • Gross revenues of $34.8 million for the quarter, up 14% versus the prior year period
  • Operating income of $10.5 million for the quarter, up 19% versus the prior year period
  • Operating profit margin of 31.1% for the quarter, versus 29.9% for the prior year period
  • Net income of $8.6 million, up 17% versus the prior year period, and quarterly diluted GAAP EPS of $0.71, up 18%
  • Total cash returned to shareholders during the quarter of $6.6 million, comprised of dividends of $3.6 million and repurchases of common shares of $3.0 million, a three-fold increase versus the prior year period
  • Announcing third quarter 2026 dividend of $0.30 per share
  • 585 OTCQX® and 1,101 OTCQB® companies at quarter end
  • 1,037 OTCID® companies at quarter end
  • 144 unique OTC Link subscribers as of June 30, 2026, up 7 versus June 30, 2025
  • Approximately 95,000 average daily trades on OTC Link ECN and OTC Link NQB during the quarter, versus approximately 63,000 during the prior year period
  • Approximately 69,000 average trades and 7.8 million average shares per session on MOON ATS®
  • In July 2026, OTC Markets Group announced a proposed strategic alliance with BitGo Bank & Trust and a new integration with Elysium's MatchHub platform to advance digital asset access

NEW YORK, Aug. 05, 2026 (GLOBE NEWSWIRE) -- OTC Markets Group Inc. (OTCQX: OTCM), operator of regulated markets for trading 12,000 U.S. and international securities, today announced its financial results for the second quarter of 2026.

“In the first half of 2026, we saw the benefits of launching our OTCID Basic Market and building out our overnight trading capability,” said R. Cromwell Coulson, President and Chief Executive Officer. “Our recently announced strategic alliances will allow us to connect digital asset trading and qualified custody infrastructure for blockchain native securities. As regulations rapidly develop for tokenized securities, OTC Link ATS, our Qualified Interdealer Quotation System, will support trading by our FINRA member broker-dealers and empower issuer innovation, investor access and regulatory compliance around these evolving technologies.”

“In the second quarter of 2026, we delivered strong financial results across all three business lines, with gross revenues increasing 14% and operating income rising 19% year over year, while expanding operating margin by 120 basis points,” said Antonia Georgieva, Chief Financial Officer. “OTC Link revenues increased as a result of significantly higher trading volumes. Corporate Services experienced strong growth, led by OTCID and supported by a higher average number of companies on our OTCQX and OTCQB markets. Market Data Licensing revenues also increased, driven by price increases for certain licenses and subscriber growth. These results reflect the strength of our business and our disciplined execution.”

Second Quarter 2026 compared to Second Quarter 2025

Financial Highlights

  Three Months Ended June 30,     
(in thousands, except shares and per share data)  2026   2025  % change $ change 
OTC Link $8,211  $6,447  27% 1,764 
Market data licensing  13,153   12,316  7% 837 
Corporate services  13,391   11,742  14% 1,649 
Gross Revenues  34,755   30,505  14% 4,250 
Net revenues  33,743   29,507  14% 4,236 
Revenues less transaction-based expenses  30,565   27,215  12% 3,350 
Operating expenses  20,077   18,384  9% 1,693 
Income from operations  10,488   8,831  19% 1,657 
Operating profit margin  31.1%  29.9%     
Income before provision for income taxes  10,746   9,047  19% 1,699 
Net income $8,550  $7,300  17% 1,250 
          
Diluted earnings per share $0.71  $0.60  18%   
Adjusted diluted earnings per share $1.04  $0.92  13%   
Weighted-average shares outstanding, diluted  11,842,592   11,830,514  -    
          
  • Gross revenues of $34.8 million, up 14% over the prior year quarter.   Revenues less transaction-based expenses up 12%.
  • OTC Link revenues up 27%. Transaction-based revenues from OTC Link ECN, OTC Link NQB, and MOON ATS increased 47%, due to a higher volume of shares traded on these platforms.   Additionally, usage-based revenue from OTC Link ATS increased 6% primarily due to a higher number of messages.
  • Market Data Licensing revenues up 7%. Redistributor-based revenues increased 8%, with professional user revenues increasing 6% and non-professional user revenues increasing 47% quarter over quarter. Revenues from direct sold licenses increased 10% primarily due to price increases for certain licenses and growth in subscribers. Revenues from data and compliance solutions increased 1%, primarily as a result of increases in revenues from data services and our Blue Sky data product, offsetting a decline in revenues from EDGAR Online.
  • Corporate Services revenues up 14%. Revenues from our OTCQX market increased 9%, reflecting a higher average number of companies on the OTCQX market and price increases effective from the beginning of the year. OTCQB revenues increased 10% due to the same factors. Revenues from our OTCID market and from Pink Limited subscribers to the Disclosure & News Service® (“DNS”) increased 32%. The July 1, 2025 launch of OTCID resulted in a substantial number of Pink® companies upgrading to OTCID, which drove the increase in related revenues.
  • Operating expenses increased 9%. The increase was primarily driven by a 54% increase in professional and consulting fees and 11% increase in IT infrastructure and information services costs. Professional and consulting fees reflect higher regulatory and clearing costs as a result of the increased trading volumes on OTC Link’s ATSs, as well as certain accruals related to a regulatory matter.   
  • Operating income increased 19% and net income increased 17% to $10.5 million and $8.6 million, respectively.
  • Adjusted EBITDA, which excludes non-cash stock-based compensation expense, increased 14% to $12.7 million, or $1.04 per adjusted diluted share.

Dividend Declaration – Quarterly Cash Dividend

OTC Markets Group announced today that its Board of Directors authorized and approved a quarterly cash dividend of $0.30 per share of Class A Common Stock. The quarterly cash dividend is payable on September 17, 2026, to stockholders of record on September 3, 2026.   The ex-dividend date is September 3, 2026.

Stock Buyback Program

The Company is authorized to purchase shares from time to time on the open market, from employees and consultants, and through block trades, in compliance with applicable law. During the second quarter of 2026, the Company purchased 57,941 shares at an average price of $52.46 per share.

On March 2, 2026, the Board of Directors refreshed the Company’s stock repurchase program, giving the Company authorization to repurchase up to 300,000 shares of the Company’s Class A Common Stock.   

Non-GAAP Financial Measures

In addition to disclosing results prepared in accordance with GAAP, the Company also discloses certain non-GAAP results of operations, including adjusted EBITDA and adjusted diluted earnings per share that either exclude or include amounts that are described in the reconciliation table of GAAP to non-GAAP information provided at the end of this release. Non-GAAP financial measures do not replace and are not superior to the presentation of GAAP financial results but are provided to improve overall understanding of the Company’s current financial performance. Management believes that this non-GAAP information is useful to both management and investors regarding certain additional financial and business trends related to the operating results. Management uses this non-GAAP information, along with GAAP information, in evaluating its historical operating performance.

Second Quarter 2026 Conference Call

The Company will host a conference call and webcast on Thursday, August 6, 2026, at 8:30 a.m. Eastern Time, during which management will discuss the financial results in further detail.

Webcast:
The conference webcast and management presentation can be accessed at the following link (replay available until August 5, 2027):

https://edge.media-server.com/mmc/p/jwkugj9p        

Live Call:
Participants intending to ask a question during the live call and Q&A session should also register in advance at:

https://register-conf.media-server.com/register/BI54a4d121e9f34659a633dada74a86487   

Upon registration, participants will receive a dial-in number along with a unique PIN number that can be used to access the live call. Live call participants may also select a “Call Me” option.

The Quarterly Report, earnings release, transcript of the earnings call, and management presentation will also be available in the Investor Relations section of our corporate website at

www.otcmarkets.com/about/investor-relations.

About OTC Markets Group Inc.

OTC Markets Group Inc. (OTCQX: OTCM) operates regulated markets for trading 12,000 U.S. and international securities. Our data-driven disclosure standards form the foundation of our public markets: OTCQX® Best Market, OTCQB® Venture Market, OTCID® Basic Market, and Pink Limited™ Market.

Our OTC Link® Alternative Trading Systems (ATSs) provide critical market infrastructure that broker-dealers rely on to facilitate trading. Our innovative model offers companies more efficient access to the U.S. financial markets.

OTC Link ATS, OTC Link ECN, OTC Link NQB, OTC Overnight® and MOON ATS® are each an SEC-regulated ATS, operated by OTC Link LLC, a FINRA and SEC-registered broker-dealer, member SIPC.

To learn more about how we create better informed and more efficient markets, visit www.otcmarkets.com.

Investor Contact:

Antonia Georgieva
Chief Financial Officer
Phone: (212) 220-2215
Email: ir@otcmarkets.com

Media Contact:

OTC Markets Group Inc.
Phone: (212) 896-4428
Email: media@otcmarkets.com 

    
OTC MARKETS GROUP INC.
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(in thousands, except share and per share information)
 
 Three Months Ended June 30,
  2026   2025 
OTC Link$8,211  $6,447 
Market data licensing 13,153   12,316 
Corporate services 13,391   11,742 
Gross revenues 34,755   30,505 
Redistribution fees and rebates (1,012)  (998)
Net revenues 33,743   29,507 
Transaction-based expenses (3,178)  (2,292)
Revenues less transaction-based expenses 30,565   27,215 
Operating expenses   
Compensation and benefits 11,729   11,573 
IT Infrastructure and information services 3,166   2,858 
Professional and consulting fees 2,845   1,842 
Marketing and advertising 472   438 
Occupancy costs 720   668 
Depreciation and amortization 564   656 
General, administrative and other 581   349 
Total operating expenses 20,077   18,384 
Income from operations 10,488   8,831 
Other income   
Interest income 258   216 
Income before provision for income taxes 10,746   9,047 
Provision for income taxes 2,196   1,747 
Net Income $8,550  $7,300 
    
Earnings per share   
Basic$0.71  $0.61 
Diluted$0.71  $0.60 
    
Basic weighted average shares outstanding 11,799,504   11,769,861 
Diluted weighted average shares outstanding 11,842,592   11,830,514 
    
Non-GAAP Reconciliation   
 Three Months Ended June 30,
  2026   2025 
Net Income$8,550  $7,300 
Excluding:   
Interest expense (income) (258)  (215)
Provision for income taxes 2,196   1,747 
Depreciation and amortization 564   656 
Stock-based compensation expense 1,668   1,627 
Adjusted EBITDA$12,720  $11,115 
    
Adjusted diluted earnings per share$1.04  $0.92 
    
Note: We use non-GAAP financial measures of operating performance. Non-GAAP measures do not replace and are not superior to the presentation of our GAAP financial results, but are provided to improve overall understanding of the Company's current financial performance.


    
OTC MARKETS GROUP INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands, except share information)
 June 30, December 31,
  2026   2025 
Assets   
Current assets   
Cash and cash equivalents$45,420  $49,231 
Short-term investments 4,973   5,047 
Accounts receivable, net of allowance for credit losses of $282 and $267 9,775   9,053 
Prepaid income taxes 942   249 
Prepaid expenses and other current assets 2,777   2,361 
Total current assets 63,887   65,941 
Property and equipment, net 4,979   5,557 
Operating lease right-of-use assets 8,759   9,508 
Deferred tax assets, net 5,440   6,809 
Goodwill 3,984   3,984 
Intangible assets, net 5,963   6,247 
Long-term restricted cash 1,856   1,606 
Other assets 1,044   457 
Total Assets$95,912  $100,109 
    
Liabilities and stockholders' equity   
Current liabilities   
Accounts payable$1,503  $1,184 
Income taxes payable 257   138 
Accrued expenses and other current liabilities 11,336   14,884 
Deferred revenue 27,516   33,640 
Total current liabilities 40,612   49,846 
Income tax reserve 1,133   1,050 
Deferred compensation 432   - 
Operating lease liabilities 7,913   8,748 
Total Liabilities 50,090   59,644 
Commitments and contingencies   
Stockholders' equity   
Common stock - par value $0.01 per share   
Class A - 17,000,000 authorized, 12,992,763 issued, 11,986,739 outstanding at June 30, 2026; 12,912,423 issued, 12,020,991 outstanding at December 31, 2025 130   129 
Additional paid-in capital 44,489   41,364 
Retained earnings 33,058   24,644 
Treasury stock - 1,006,024 shares at June 30, 2026 and 891,432 shares at December 31, 2025 (31,855)  (25,672)
Total Stockholders' Equity 45,822   40,465 
Total Liabilities and Stockholders' Equity 95,912   100,109 



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