v3.26.1
Condensed Consolidated Statements of Financial Condition - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Assets    
Cash and cash equivalents $ 2,057,929 $ 2,084,739
Restricted cash 1,000 1,000
Receivable from brokers and dealers and clearing organizations 11,491 8,630
Deposits with clearing organizations 55,477 58,282
Accounts receivable, net of allowance for credit losses of $209 and $587 at June 30, 2026 and December 31, 2025, respectively 309,368 257,845
Furniture, equipment, purchased software and leasehold improvements, net of accumulated depreciation and amortization 80,742 78,193
Lease right-of-use assets 129,651 123,065
Software development costs, net of accumulated amortization 258,884 270,295
Goodwill 3,150,112 3,150,112
Intangible assets, net of accumulated amortization 1,089,848 1,148,015
Receivable and due from related parties 7,016 8,303
Deferred tax asset 570,156 568,832
Digital assets and other investments at fair value 291,587 291,997
Other assets 237,582 140,249
Total assets 8,250,843 8,189,557
Liabilities    
Payable to brokers and dealers and clearing organizations 7,649 3,363
Accrued compensation 158,766 251,169
Deferred revenue 38,368 29,030
Accounts payable, accrued expenses and other liabilities 175,244 183,970
Lease liabilities 150,337 139,168
Payable and due to related parties 11,160 7,090
Deferred tax liability 53,670 50,011
Tax receivable agreement liability 317,495 336,519
Total liabilities 912,689 1,000,320
Commitments and contingencies (Note 12)
Equity    
Preferred stock, $0.00001 par value; 250,000,000 shares authorized; none issued or outstanding 0 0
Additional paid-in capital 4,931,516 4,895,810
Accumulated other comprehensive income (loss) 15,912 10,899
Retained earnings 1,687,101 1,601,044
Total stockholders’ equity attributable to Tradeweb Markets Inc. 6,634,531 6,507,755
Non-controlling interests 703,623 681,482
Total equity 7,338,154 7,189,237
Total liabilities and equity 8,250,843 8,189,557
Class A Common Stock    
Equity    
Common stock, value 1 1
Class B Common Stock    
Equity    
Common stock, value 1 1
Class C Common Stock    
Equity    
Common stock, value 0 0
Class D Common Stock    
Equity    
Common stock, value $ 0 $ 0