Nasdaq said U.S. operating companies raised $6.0 billion in proceeds through listings in Q3, its Index business recorded net inflows of $17 billion in Q3 and $91 billion over the last 12 months.

10-QQuarterly reportFiled Oct 23, 2025Period of report Sep 30, 2025Summary published (UTC) Oct 11, 2026

Key points

AI summary

Nasdaq said U.S. operating companies raised $6.0 billion in proceeds through listings in Q3, its Index business recorded net inflows of $17 billion in Q3 and $91 billion over the last 12 months.
The company said Financial Technology segment ARR grew 12%, reflecting an increase in new clients, cross-sells and upsells.
Nasdaq said cash and cash equivalents as of September 30, 2025 were $470 million, invested primarily in money market funds, European government securities and bank deposits.
The company said operating cash flow for the 9 months ended September 30, 2025 increased $396 million compared with the prior-year period, citing higher net income as a principal factor, though changes in working capital partially offset the increase.

Key figures

Quarter ended September 30, 2025

Revenue: $2.0B
Operating income: $586M
Net income: $423M
EPS: $0.73
Gross profit: $1.3B

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

Q3 Listing Proceeds and Index Net Inflows

Nasdaq said U.S. operating companies raised $6.0 billion in proceeds through listings in Q3, its Index business recorded net inflows of $17 billion in Q3 and $91 billion over the last 12 months.

Source · Based on the MD&A text of the filing

Financial Technology ARR Growth of 12%

The company said Financial Technology segment ARR grew 12%, reflecting an increase in new clients, cross-sells and upsells.

Source · Based on the MD&A text of the filing

Cash and Cash Equivalents of $470 million as of September 30, 2025

Nasdaq said cash and cash equivalents as of September 30, 2025 were $470 million, invested primarily in money market funds, European government securities and bank deposits.

Source · Based on the MD&A text of the filing

Operating Cash Flow for 9 Months Increased $396 million

The company said operating cash flow for the 9 months ended September 30, 2025 increased $396 million compared with the prior-year period, citing higher net income as a principal factor, though changes in working capital partially offset the increase.

Source · Based on the MD&A text of the filing

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

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