Short answer
Interactive Brokers (IBKR) filed its Q3 2025 10-Q quarterly report on Nov 5, 2025 for the quarter ended Sep 30, 2025. Quarterly revenue was $603M (up 18.9% year over year) with net income of $263M.
Q3 2025 key financials · XBRL
- Revenue
- $603M
- +18.9% YoY · +4.3% QoQ
- Net income
- $263M
- +42.9% YoY · +17.4% QoQ
- EPS (diluted)
- $0.59
- −64.7% YoY · +162.1% QoQ
Source: XBRL data from the Interactive Brokers (IBKR) Q3 2025 10-Q on SEC EDGAR. USD.
Interactive Brokers Q3 2025 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Revenue $1.655B, up 21% YoY from $1.365B in 3Q2024, driven by 23% commission growth to $537M and 21% net interest income rise to $967M
- Pretax profit margin 79% vs 67% YoY; adjusted pretax margin 79% vs 66% YoY, income before taxes $1.312B vs $909M YoY
- Best segment: Commissions $537M (+23%) boosted by 67% stock and 27% options volume increase; Worst segment: Other fees down 8% to $66M due to $12M lower risk exposure fees
- Cash from operations $14.2B, up from $6.9B prior-year period; capital expenditures $45M vs $34M in prior year; equity increased 22% to $19.5B
- Near-term outlook cautious on retail volume sustainability, competition, interest rate fluctuations, regulatory scrutiny on AI and global market uncertainties including geopolitical risks
Risk Factors
- No new or changed risk factors since 10-K filed February 27, 2025
- Market volatility risk from global economic conditions remains significant for near-term performance
- Regulatory risk from evolving SEC and FINRA compliance requirements continues to require substantial resources
- Financial risk tied to liquidity adequacy and credit exposure managed within existing parameters
- Competitive risk from low-cost brokers and technology innovation persists with ongoing pressure on commissions
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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