T
TW
TWUnverified6 segments tracked|6 years of data|Annual (10-K)
Total Revenue
$2.1B25.7%
FY2025
Operating Segments
6Active segments
Blended Margin
0.0%Operating margin
Highest Margin
0.0%Transaction Fee Revenue
Segment Shift
Transaction Fee Revenue has grown from 70.9% to 82.8% of total revenue since FY2020, with 0.0% operating margins. Meanwhile, Financial Service Other is the fastest growing at +82.3% YoY.
Segment Revenue Over Time
Revenue Mix
Segment Breakdown — FY2025
| Segment | Revenue | Op. Income | Margin | % of Total | YoY |
|---|---|---|---|---|---|
| Transaction Fee Revenue | $1.7B | $0 | 0.0% | 82.8% | +19.5% |
| Subscription Fee Revenue | $234M | $0 | 0.0% | 11.4% | +13.2% |
| Market Data Revenue | $93M | $0 | 0.0% | 4.5% | +13.5% |
| Financial Service Other | $25M | $0 | 0.0% | 1.2% | +82.3% |
| Subscription Fee And Market Data Revenue | $2M | $0 | 0.0% | 0.1% | +4.3% |
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