Dafinchi AI

NDAQ

Financial Services

Annualized recurring revenue (ARR) grew 9% to $2.9 billion.
Capital Access Platforms revenue grew 9% with 6% ARR growth; Financial Technology revenue grew 10% with 11% ARR growth; Market Services net revenue grew 21%.
Expenses increased just under 8%, primarily due to timing of annual compensation.
Financial Crime Management Technology revenue grew 20% with 19% ARR growth; Regulatory Technology revenue grew 11% with 10% ARR growth; Capital Markets Technology revenue grew 8% with 9% ARR growth.
Free cash flow was $467 million; dividends paid were $155 million; $400 million debt was paid down; share repurchases totaled $100 million.
Gross leverage ratio improved to 3.2x, ahead of target milestones.
Index revenue increased 17%, driven by a 25% increase in average ETP AUM to $663 billion.
Nasdaq delivered $1.3 billion in net revenue, a 12% year-over-year increase, with Solutions revenues at $991 million, up 10%.
Operating income was $721 million, up 16%, and EPS grew 24%.
Operating margins improved: overall operating margin at 55%, EBITDA margin at 58%, Market Services margin at 63%, Financial Technology margin at 47%.

CUBI

Financial Services

Credit quality remained strong with nonperforming assets at 27 basis points of total assets and net charge-offs down about 25% quarter-over-quarter.
Customers Bancorp reported a strong Q2 2025 with core EPS of $1.80, core ROCE of 13.3%, and ROAA of 1.1%, exceeding consensus estimates.
Deposit growth was steady at $19 billion, with $300 million in new high-quality deposits from commercial banking teams and a $350 million reduction in brokered deposits.
Net interest margin expanded by 14 basis points quarter-over-quarter to 3.27%, with net interest income increasing about 6% to $176.7 million.
Noninterest expenses were $106.6 million, with a core efficiency ratio improving to 51.6%, well below industry average despite reinvestments.
Tangible book value per share reached $56.24, reflecting a 15% compound annual growth rate since Q4 2019, outperforming peers.

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