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Sentiment · FY2026 Q1
| Analyst | Firm | Questions | ChallengePercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|---|
| Jim Yaro | Goldman Sachs | 12 | 0% |
| Patrick Moley | Piper Sandler | 12 | 8% |
| Ben Budish | Barclays | 12 | 0% |
| Dan Fannon | Jefferies | 10 | 0% |
| Craig Siegenthaler | Bank of America | 10 | 0% |
| Brennan Hawken | BMO Capital Markets | 8 | 0% |
| Kyle Voigt | KBW | 6 | 0% |
| Chris Allen | KBW | 6 | 0% |
| Firm | Analysts | Questions | ChallengePercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|---|
| Goldman Sachs | 1 | 12 | 0% |
| Barclays | 1 | 12 | 0% |
| KBW | 2 | 12 | 0% |
| Piper Sandler | 1 |
| 12 |
| 8% |
| Bank of America | 2 | 11 | 0% |
| Jefferies | 1 | 10 | 0% |
| BMO Capital Markets | 1 | 8 | 0% |
Interactive Brokers delivered record Q1 commission revenue exceeding $600 million, up 19% year-over-year, with total customer DARTs reaching 4.4 million trades per day, up 24%. Pretax margins held at an industry-leading 77% while crypto and derivatives platform expansion continued. AI integration across operations drove efficiency gains, and the company increased its dividend while maintaining its position as the lowest-cost broker for sophisticated traders.
Innovation & R&D | Demand | Competitive Dynamics | Subscriber Growth | Credit | Regulation Policy | Geographic Expansion | Product Launch | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 4 | 3 | 3 | 1 | 1 | 2 | 1 | |
| 2025Q1 | 2 | 4 | 1 | 4 | 2 | 3 | 1 | |
| 2025Q2 | 4 | 4 | 4 | 2 | 2 | 1 | 1 | |
| 2025Q3 | 5 | 2 | 2 | 2 | 2 | 1 | 3 | 2 |
| 2025Q4 | 5 | 2 | 2 | 3 | 1 | 3 | 2 | |
| 2026Q1 | 1 | 3 | 1 | 3 | 1 | 1 | 4 |
| '24Q4 | '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | |
|---|---|---|---|---|---|---|
| Innovation & R&D | 4 | 2 | 4 | 5 | 5 | 1 |
| Demand | 3 | 4 | 4 | 2 | 2 | 3 |
| Competitive Dynamics | 3 | 4 | 2 | 2 | 1 | |
| Subscriber Growth | 1 | 1 | 2 | 2 | 3 | 3 |
| Credit | 1 | 4 | 2 | 2 | 1 | 1 |
| Regulation Policy | 2 | 2 | 1 | 1 | 3 | 1 |
| Geographic Expansion | 3 | 1 | 3 | 2 | ||
| Product Launch | 1 | 1 | 2 | 4 |