Expanding the Client Network slide image

Expanding the Client Network

2Q22 Financial Summary (in $ thousands) Financial Results 2Q22 1Q22 2Q21 2Q22 vs. 2Q21 Commissions 163,463 166,113 156,431 4.5% Information Services 9,396 9,809 9,844 Post-trade Services 9,144 9,912 9,848 Other 226 223 211 (4.6%) (7.1%) 7.1% Total Revenues 182,229 186,057 176,334 3.3% Expenses Operating Income 97,441 97,953 84,788 89,157 9.3% 88,104 87,177 (2.7%) • Other income (expense) 4,790 2,315 (1,124) N/M Income Before Taxes 89,578 90,419 86,053 4.1% Provision for Income Taxes 22,656 25,650 18,765 20.7% Net Income 66,922 64,769 67,288 (0.5%) $176 Operating Margin 46.5% 47.4% 49.4% -2.9 pts Market Volume $(5) Fee $18 Capture COMMENTARY Commission revenue benefited from strong estimated market share gains, partiality offset by lower average fees per million, principally in U.S. high-grade Lower information services and post-trade revenue was driven by currency fluctuations and anticipated customer attrition in connection with the Regulatory Reporting Hub integration Excluding impact of currency fluctuations, combined information services/post-trade revenue would have been up 3% • Other income (expense) net gain of $4.8 million, compared to prior year loss of ($1.1) million Includes FX gain of $5.5 million ($0.11 per diluted share impact) Increase in effective tax rate driven by a $5.7 million decrease in estimated excess tax benefits related to share-based compensation awards REVENUE MIX ANALYSIS 2Q21 to 2Q22 (in $ millions) $3 $4 $182 Market Share $(14) Distribution Other Fees EBITDA 105,155 105,593 99,321 5.9% EBITDA Margin 57.7% 56.8% 56.3% 1.4 pts ETR 25.3% 28.4% 21.8% 3.5 pts Diluted EPS Diluted Shares N/M = not meaningful $ 1.78 $ 1.71 $ 1.77 $ 0.01 37,608 37,824 38,104 (1.3%) 2Q21 2022 X Market Axess 28
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