EL7.AI
StocksMedium•11 November 2026•
4 min read

OTC Markets Revenue Rises 7% to $33.845 Million; Company Approves Special Dividend

Key Facts

1Total revenue was $33.845 million, up 7% year over year in the third quarter of 2026.
2Operating income rose 2% to $10.8 million, and the margin fell to 32.9% from 34.6%.
3Net income rose 3% to $8.804 million, and diluted earnings per share rose 3% to $0.73.
4The company approved a special dividend of $1.75 per share and a quarterly dividend of $0.30 per share.

OTC Markets Group reported on November 11 results for the third quarter ended September 30, 2026, with total revenue of $33.845 million, up 7% year over year. Net revenues rose at the same rate to $32.861 million, according to the company’s statement published via GlobeNewswire. Revenue growth did not translate into operating earnings at the same pace, as operating income increased 2% to $10.8 million. The operating margin fell to 32.9% from 34.6% in the year-earlier quarter. Net income also rose 3% to $8.804 million, while diluted earnings per share under generally accepted accounting principles increased 3% to $0.73.

A comparison with the second quarter shows slower growth in revenue and operating income in the third quarter. In its second-quarter results, announced on August 5, the company reported total revenue of $34.8 million, up 14% year over year, and net income of $8.6 million, up 17%. Operating income then grew 19% year over year, while the operating margin was 31.1%. In the third quarter, total revenue growth was limited to 7% and operating income growth to 2%; the operating margin was above the second-quarter level but below its level a year earlier. In the third quarter of 2025, total revenue growth was 15% and operating income growth was 23%, with an operating margin of 34.6%.

Trading activity was a key driver of OTC Link revenue, the chief financial officer said in the earnings statement, noting that the platform continued to benefit from higher trading volumes. OTC Link revenue rose 17% year over year, driven mainly by 32% growth in transaction revenue across OTC Link ECN, OTC Link NQB and MOON ATS. Average daily trades on OTC Link ECN and OTC Link NQB were about 87,000 during the quarter, compared with about 59,000 in the third quarter of the previous year. The chief financial officer said, "OTC Link continued to benefit from higher trading volumes." These figures link the platform’s revenue growth to increased activity on its platforms during the period.

In the data business, market data licensing revenue rose 7%, while revenue from direct licensing increased 11%. The company attributed the increase in direct licenses to higher prices for some licenses and subscriber growth. By contrast, data and compliance solutions revenue was nearly unchanged, according to the earnings statement. Enterprise services revenue rose 2% from the year-earlier quarter. OTCQX market revenue increased 6% and OTCQB revenue rose 4%, while revenue from OTCID and Pink Limited subscribers in the disclosure and news service fell 3%.

Expenses weighed on operating profit growth, with operating expenses rising 8% year over year, outpacing the 2% increase in operating income. Professional and consulting fees rose 18%, while information technology infrastructure and information services costs increased 16%. Compensation and benefits expenses rose 4% during the period. This divergence between revenue and expense growth accompanied a decline in the annual operating margin to 32.9% from 34.6%. Despite a 7% increase in total revenue, operating income and net income growth remained at 2% and 3%, respectively.

Alongside its earnings announcement, the company approved a special cash dividend of $1.75 per share, in addition to the fourth-quarter dividend of $0.30 per share. The special dividend will be paid on December 3, 2026, to shareholders of record on November 23, which is also its ex-dividend date. The quarterly dividend will be paid on December 17 to shareholders of record on December 3, its ex-dividend date. The company returned a total of $3.7 million in cash to shareholders during the third quarter, including $3.6 million in dividends. Total cash returned to shareholders was $2.2 million in the year-earlier quarter of 2025.

In its third-quarter 2025 results, the company had announced a special dividend of the same amount, $1.75 per share, alongside a quarterly dividend of $0.18 per share. The chief executive also said the third quarter of 2026 marked the first anniversary of the launch of the OTCID Basic market, which had become a core part of the market structure and product offerings. The company is scheduled to host a call to discuss its third-quarter results on November 12, 2026, at 8:30 a.m. Eastern Time. The call is scheduled for the day after the results announcement, according to OTC Markets’ statement.