Cboe Global Markets, Inc. anticipates organic net-revenue growth in the mid- to high-teen percent range for fiscal 2026 [4].
The projection signals the company's intent to leverage infrastructure upgrades and product expansion to maintain momentum following a period of record financial performance.
CEO Craig Donohue said Cboe delivered another quarter of record net revenue and adjusted earnings powered by continued strength across all of its core businesses.
This growth is supported by the expansion of event contracts and the completion of a clearing-infrastructure build-out. Kenneth Hill, senior vice president, treasurer and head of investor relations, said the company is expanding its event contracts and completing the clearing build-out, which positions the firm for solid organic growth in 2026.
The company is also focusing on cost reduction to improve margins. Cboe expects annualized expense savings between $100 million and $120 million [2]. Consequently, the firm lowered its adjusted operating expense guide for 2026 to a range of $838 million to $853 million [3].
These forecasts follow a strong start to the current year. First-quarter 2026 net revenue grew 29% year-over-year to $729 million [1]. While this early-year spike exceeds the projected organic growth rate for the full year, management attributes the sustainable long-term trajectory to the strength of its core business segments.
By finalizing its clearing build-out, Cboe aims to reduce reliance on external providers and streamline its operational flow. This strategic shift is intended to work in tandem with the new event contracts to capture a broader segment of the derivatives market.
“Cboe delivered another quarter of record net revenue and adjusted earnings”
Cboe is transitioning from a phase of rapid, high-percentage growth seen in early 2026 toward a more sustainable, efficiency-driven model. By lowering its operating expense guidance and completing its own clearing infrastructure, the company is attempting to increase its profit margins while diversifying its product suite through event contracts to hedge against market volatility.
