Interactive Brokers (IBKR) Q2 2025 10-Q Quarterly Report
Filed: Aug 6, 2025Period ending Jun 30, 2025
Financials
Security Brokers, Dealers & Flotation CompaniesSEC EDGAR Interactive Brokers (IBKR) 10-Q quarterly report for Q2 2025, filed with SEC EDGAR on Aug 6, 2025 for the fiscal period ending Jun 30, 2025. This page provides AI-powered analysis including management discussion & analysis (MD&A), risk factor updates, and key quarterly financial data such as revenue and net income extracted from XBRL.
Interactive Brokers Q2 2025 10-Q Analysis
Management Discussion & Analysis
- • Revenue details not explicitly stated; net interest income rose 7% YoY aided by higher average balances
- • Net interest margin declined to 2.07% vs 2.42% YoY, driven by global interest rate cuts
- • Margin loan balances up 16% YoY, but net interest income on margin loans fell 6% due to 100 bps Fed rate cut
- • Cash invested in short-term U.S. government securities with short-duration portfolio maturing within 3 months at June 30, 2025
- • Near-term challenges include interest rate uncertainty and geopolitical volatility, though higher volatility generally boosts trading activity
Risk Factors
- • New risk from increased forex volatility impacting other income, driven by foreign exchange gains and losses on currency diversification strategy
- • Regulatory risk updated with details on IBKR Lite payments from market makers, affecting reported commissions and compliance with exchange rules
- • Legal risk related to decreased risk exposure fees ($7M decline), reflecting cautious customer behavior and potential impact on fee income stability
- • Market risk from 49% increase in Daily Average Revenue Trades (DARTs), highlighting dependency on high trading volumes for near-term revenue growth
- • Financial risk due to commission per cleared order down 12% to $2.65, linked to smaller average order sizes and lower fees on options and futures
Interactive Brokers Q2 2025 Quarterly FinancialsXBRL
Revenue
$578M
▲ +21.9% YoY▼ -2.4% QoQ
Net Income
$224M
▲ +25.1% YoY▲ +5.2% QoQ
Net Margin
38.8%
▲ +99bp YoY▲ +277bp QoQ
EPS (Diluted)
$-0.95
▼ -157.2% YoY▼ -149.0% QoQ
Operating Cash Flow
$7.1B
▲ +340.4% YoY▲ +176.3% QoQ
Source: XBRL data from Interactive Brokers Q2 2025 10-Q filing on SEC EDGAR. All figures in USD.
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