TW Q1 2025 Earnings — Tradeweb Markets Inc. Revenue & Financial Results | Market Cap Arena

TWTradeweb Markets Inc.

$27B

Q1 2025 Earnings

Financial Services Financial - Capital Markets

Income Statement

Revenue

$510M+24.7% YoY

Gross Profit

$333M65.3% margin

Operating Income

$204M40.0% margin

Net Income

$148M29.1% margin

EPS (Diluted)

$0.69

QoQ Revenue Growth

+10.0%

Cash Flow

Operating Cash Flow

$60M

Free Cash Flow

$59M

Stock-Based Comp.

$22M

Balance Sheet

Total Assets

$7.4B

Total Liabilities

$823M

Stockholders' Equity

$5.9B

Cash & Equivalents

$1.3B

Year-over-Year Comparison

Metric	Current	Year Ago	Change
Revenue	$510M	$409M	+24.7%
Gross Profit	$333M	$266M	+25.3%
Operating Income	$204M	$168M	+21.7%
Net Income	$148M	$126M	+17.6%

Revenue Segments

Transaction Fee Revenue

$421M83%

Subscription Fee Revenue

$56M11%

Market Data Revenue

$29M6%

Financial Service, Other

$4M1%

Geographic Segments

UNITED STATES

$298M58%

Non-US

$212M42%