v3.26.3
Condensed Consolidated Balance Sheets (unaudited) - USD ($)
$ in Thousands
Sep. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 698,854 $ 433,648
Cash and securities segregated under federal and other regulations 26,797 27,618
Accounts receivable, net 95,949 98,107
Restricted cash 13,667 6,005
Clearing house performance bonds and guarantee funds 93,062 70,078
Receivables from broker-dealers, futures commission merchants, and clearing organizations 152,509 133,533
Current portion of derivative assets 8,554 6,017
Other current assets 40,298 39,232
Assets held for sale 0 40,976
Total current assets 1,129,690 855,214
Investments 28,850 19,180
Goodwill 62,000 62,211
Other intangible assets, net 168,947 170,774
Deferred tax asset, net 63,787 0
Derivative assets, net of current portion 0 5,114
Other assets, net 68,679 63,745
Total assets 1,618,140 1,259,425
Current liabilities:    
Accounts payable and other liabilities 73,438 69,780
Accrued compensation payable 36,201 39,412
Current portion of long-term debt 1,517 1,508
Deferred transaction revenues 8,960 9,572
Clearing house performance bonds and guarantee funds 92,562 69,578
Payables to customers 152,070 144,641
Payables to clearing organizations 0 11
Liabilities held for sale 0 2,758
Total current liabilities 364,748 337,260
Deferred income taxes 10,877 22,386
Other non-current liabilities 22,229 18,762
Total liabilities 397,854 378,408
Commitments and contingencies (Note 15) 0 0
Stockholders’ equity:    
Common stock - voting and nonvoting, par value $0.001 (600,000,000 authorized (400,000,000 voting, 200,000,000 nonvoting); XX issued and outstanding common stock at June 30, 2026 (XX voting, 0 nonvoting), 85,890,086 issued and 85,536,287 outstanding common stock at December 31, 2025 (85,536,287 voting, 0 nonvoting) 100 86
Common stock in treasury, at cost, 353,799 shares at September 30, 2025 and 38,469 shares at December 31, 2024 (27,229) (8,232)
Additional paid-in capital 1,614,769 1,522,143
Accumulated deficit (365,435) (632,339)
Accumulated other comprehensive loss, net (1,919) (641)
Total stockholders’ equity 1,220,286 881,017
Total liabilities and stockholders’ equity 1,618,140 1,259,425
Fixed assets    
Current assets:    
Fixed assets and internally developed software, net 59,520 46,854
Internally developed software    
Current assets:    
Fixed assets and internally developed software, net $ 36,667 $ 36,333