$MKTX
MARKETAXESS HOLDINGS INC

2016 Q2 Form 10-Q Financial Statement

#000156459017014282 Filed on July 27, 2017

View on sec.gov

Income Statement

Concept 2016 Q2 2015 Q4
Revenue $96.64M $76.60M
YoY Change 50762.63% 9.12%
Cost Of Revenue $8.500M $7.300M
YoY Change 21.43% -6.41%
Gross Profit $88.10M $69.40M
YoY Change 28.61% 11.4%
Gross Profit Margin 91.16% 90.6%
Selling, General & Admin $33.00M $27.70M
YoY Change 22.68% 13.52%
% of Gross Profit 37.46% 39.91%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $4.500M $4.600M
YoY Change -2.17% 4.55%
% of Gross Profit 5.11% 6.63%
Operating Expenses $46.09M $32.40M
YoY Change 19.92% 12.11%
Operating Profit $42.01M $37.00M
YoY Change 39.72% 10.78%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $50.55M $37.00M
YoY Change 36.41% 10.45%
Income Tax $17.43M $12.50M
% Of Pretax Income 34.47% 33.78%
Net Earnings $33.10M $24.50M
YoY Change 36.56% 13.43%
Net Earnings / Revenue 34.25% 31.98%
Basic Earnings Per Share
Diluted Earnings Per Share $0.88 $651.6K
COMMON SHARES
Basic Shares Outstanding 36.88M
Diluted Shares Outstanding

Balance Sheet

Concept 2016 Q2 2015 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $153.3M $284.4M
YoY Change -9.45% 68.4%
Cash & Equivalents $153.3M $199.7M
Short-Term Investments $84.71M
Other Short-Term Assets $13.50M $9.900M
YoY Change 7.14% 47.76%
Inventory
Prepaid Expenses
Receivables $62.90M $40.50M
Other Receivables $0.00 $0.00
Total Short-Term Assets $229.7M $250.1M
YoY Change 0.39% 19.44%
LONG-TERM ASSETS
Property, Plant & Equipment $31.50M $30.90M
YoY Change 0.64% -4.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $146.3M $84.70M
YoY Change 116.74% 30.51%
Other Assets $6.100M $9.200M
YoY Change 0.0% 31.43%
Total Long-Term Assets $247.4M $188.9M
YoY Change 45.4% 10.83%
TOTAL ASSETS
Total Short-Term Assets $229.7M $250.1M
Total Long-Term Assets $247.4M $188.9M
Total Assets $477.1M $439.0M
YoY Change 19.59% 15.57%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $15.10M $12.30M
YoY Change 13.53% 2.5%
Accrued Expenses $20.20M $29.30M
YoY Change 25.47% 15.81%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $38.30M $46.10M
YoY Change 4.93% 6.71%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $2.600M $2.300M
YoY Change -3.7% -8.0%
Total Long-Term Liabilities $2.600M $2.300M
YoY Change -3.7% -8.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $38.30M $46.10M
Total Long-Term Liabilities $2.600M $2.300M
Total Liabilities $41.00M $48.33M
YoY Change 4.89% 5.81%
SHAREHOLDERS EQUITY
Retained Earnings $168.0M
YoY Change 65.02%
Common Stock $321.2M
YoY Change 4.61%
Preferred Stock
YoY Change
Treasury Stock (at cost) $93.41M
YoY Change 32.97%
Treasury Stock Shares $2.412M
Shareholders Equity $436.2M $390.7M
YoY Change
Total Liabilities & Shareholders Equity $477.1M $439.0M
YoY Change 19.59% 15.57%

Cashflow Statement

Concept 2016 Q2 2015 Q4
OPERATING ACTIVITIES
Net Income $33.10M $24.50M
YoY Change 36.56% 13.43%
Depreciation, Depletion And Amortization $4.500M $4.600M
YoY Change -2.17% 4.55%
Cash From Operating Activities $37.30M $48.20M
YoY Change 21.9% 16.43%
INVESTING ACTIVITIES
Capital Expenditures -$4.300M -$4.200M
YoY Change 16.22% 23.53%
Acquisitions
YoY Change
Other Investing Activities $0.00 $9.700M
YoY Change -100.0% -218.29%
Cash From Investing Activities -$4.300M $5.500M
YoY Change -56.57% -147.83%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -17.50M -14.50M
YoY Change 50.86% -10.49%
NET CHANGE
Cash From Operating Activities 37.30M 48.20M
Cash From Investing Activities -4.300M 5.500M
Cash From Financing Activities -17.50M -14.50M
Net Change In Cash 15.50M 39.20M
YoY Change 70.33% 186.13%
FREE CASH FLOW
Cash From Operating Activities $37.30M $48.20M
Capital Expenditures -$4.300M -$4.200M
Free Cash Flow $41.60M $52.40M
YoY Change 21.28% 16.96%

Facts In Submission

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AllocatedShareBasedCompensationExpense
3443000
CY2017Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
29400000
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y3M18D
CY2017Q2 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
108081000
CY2017Q2 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
144646000
us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
2500000
us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
2100000
CY2017Q2 mktx Number Of Lease Agreements
NumberOfLeaseAgreements
1
mktx Lease Expiration Dates
LeaseExpirationDates
2020-11
CY2017Q2 us-gaap Contractual Obligation
ContractualObligation
900000
mktx Number Of Subsidiaries
NumberOfSubsidiaries
2
mktx Settlement Period Of Bond Transaction
SettlementPeriodOfBondTransaction
Within one to three trading days
us-gaap Principal Transactions Revenue
PrincipalTransactionsRevenue
23200000
us-gaap Principal Transactions Revenue
PrincipalTransactionsRevenue
16400000
CY2017Q2 us-gaap Deposits Assets
DepositsAssets
1100000
CY2016Q2 us-gaap Deposits Assets
DepositsAssets
1400000
mktx Concentration Risk Number Of Customer
ConcentrationRiskNumberOfCustomer
0
mktx Concentration Risk Number Of Customer
ConcentrationRiskNumberOfCustomer
0
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
mktx Non Qualified Deferred Cash Incentive Plan Maximum Eligibility Percentage Of Employees
NonQualifiedDeferredCashIncentivePlanMaximumEligibilityPercentageOfEmployees
1.00
CY2017Q2 mktx Mutual Fund Investments And Deferred Compensation Obligation At Fair Value
MutualFundInvestmentsAndDeferredCompensationObligationAtFairValue
2900000
CY2016Q2 mktx Mutual Fund Investments And Deferred Compensation Obligation At Fair Value
MutualFundInvestmentsAndDeferredCompensationObligationAtFairValue
1300000
mktx Deferred Compensation Arrangement Trading Gain And Compensation Expense
DeferredCompensationArrangementTradingGainAndCompensationExpense
200000
mktx Deferred Compensation Arrangement Trading Gain And Compensation Expense
DeferredCompensationArrangementTradingGainAndCompensationExpense
100000

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