Interactive Brokers · Earnings release · 8-K Exhibit 99

INTERACTIVE BROKERS GROUP ANNOUNCES 4Q2024 RESULTS

— — —

GAAP DILUTED EPS OF $1.99, ADJUSTED1 EPS OF $2.03

GAAP NET REVENUES OF $1,387 MILLION, ADJUSTED NET REVENUES OF $1,424 MILLION

GREENWICH, CT, January 21, 2025 — Interactive Brokers Group, Inc. (Nasdaq: IBKR), an automated global electronic broker, announced results for the quarter ended December 31, 2024.

Reported diluted earnings per share were $1.99 for the current quarter and $2.03 as adjusted. For the year-ago quarter, reported diluted earnings per share were $1.48 and $1.52 as adjusted.

T1Reported net revenues were $1,387 million for the current quarter and $1,424 million as adjusted. For the year-ago quarter, reported net revenues were $1,139 million and $1,149 million as adjusted.

Reported income before income taxes was $1,040 million for the current quarter and $1,077 million as adjusted. For the year-ago quarter, reported income before income taxes was $816 million and $831 million as adjusted.

Financial Highlights

(All comparisons are to the year-ago quarter.)

•

T2Commission revenue increased 37% to $477 million on higher customer trading volumes. Customer trading volume in options and stocks increased 32% and 65%, respectively, while customer futures volume decreased by 3%.

•

T3Net interest income increased 11% to $807 million on higher average customer margin loans and customer credit balances.

•

Other fees and services increased $26 million, or 47%, to $81 million, led by increases of $14 million in risk exposure fees and $4 million in payments for order flow from exchange-mandated programs.

•

Execution, clearing and distribution fees expenses increased 15% to $115 million, driven by a higher SEC fee rate, a new FINRA Consolidated Audit Trail (“CAT”) fee initiated during the current quarter, and higher customer trading volumes in options and stocks.

•

General and administrative expenses increased $14 million, or 31%, to $59 million, driven primarily by an increase of $9 million in advertising expenses.

•

T4Pretax profit margin for the current quarter was 75% as reported and 76% as adjusted. For the year-ago quarter, pretax margin was 72% both as reported and as adjusted.

•

Total equity of $16.6 billion.

The Interactive Brokers Group, Inc. Board of Directors declared a quarterly cash dividend of $0.25 per share. This dividend is payable on March 14, 2025, to shareholders of record as of February 28, 2025.

1 See the reconciliation of non-GAAP financial measures starting on page 9.

1

Business Highlights

(All comparisons are to the year-ago quarter.)

•

T5Customer accounts increased 30% to 3.34 million.

•

Customer equity increased 33% to $568.2 billion.

•

Total DARTs2 increased 61% to 3.12 million.

•

Customer credits increased 15% to $119.7 billion.

•

Customer margin loans increased 45% to $64.2 billion.

Other Items

In connection with our currency diversification strategy, we base our net worth in GLOBALs, a basket of 10 major currencies in which we hold our equity. In this quarter, T6our currency diversification strategy decreased our comprehensive earnings by $266 million, as the U.S. dollar value of the GLOBAL decreased by approximately 1.63%. The effects of the currency diversification strategy are reported as components of (1) Other Income (loss of $18 million) and (2) Other Comprehensive Income (loss of $248 million).

This quarter, Other Income also includes a $24 million net gain from our investment in Tiger Brokers, which is comprised of a one-time realized gain of $34 million from the sale of a portion of such investment and a $10 million unrealized loss.

Conference Call Information:

Interactive Brokers Group, Inc. will hold a conference call with investors today, January 21, 2025, at 4:30 p.m. ET to discuss its quarterly results. Members of the public who would like to listen to the conference call should register at

https://register.vevent.com/register/BI6ae762cae1c640e587dcb275064fe06c to obtain the dial-in details. The number should be dialed approximately ten minutes prior to the start of the conference call. The conference call will also be accessible simultaneously, and through replays, as an audio webcast through the Investor Relations section of the Interactive Brokers web site, www.interactivebrokers.com/ir.

About Interactive Brokers Group, Inc.:

Interactive Brokers Group affiliates provide automated trade execution and custody of securities, commodities, foreign exchange, and forecast contracts around the clock on over 150 markets in numerous countries and currencies from a single unified platform to clients worldwide. We serve individual investors, hedge funds, proprietary trading groups, financial advisors and introducing brokers. Our four decades of focus on technology and automation have enabled us to equip our clients with a uniquely sophisticated platform to manage their investment portfolios. We strive to provide our clients with advantageous execution prices and trading, risk and portfolio management tools, research facilities and investment products, all at low or no cost, positioning them to achieve superior returns on investments.

Interactive Brokers has consistently earned recognition as a top broker, garnering multiple awards and accolades from respected industry sources such as Barron's, Investopedia, Stockbrokers.com, and many others.

Cautionary Note Regarding Forward-Looking Statements:

The foregoing information contains certain forward-looking statements that reflect the Company’s current views with respect to certain current and future events and financial performance. These forward-looking statements are and will be, as the case may be, subject to many risks, uncertainties and factors relating to the Company’s operations and business environment which may cause the Company’s actual results to be materially different from any future results, expressed or implied, in these forward-looking statements. Any forward-looking statements in this release are based upon information available to the Company on the date of this release. The Company does not undertake to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any statements expressed or implied therein will not be realized. Additional information on risk factors that could potentially affect the Company’s financial results may be found in the Company’s filings with the Securities and Exchange Commission.

For Interactive Brokers Group, Inc. Investors: Nancy Stuebe, investor-relations@ibkr.com or Media: Rob Garfield, media@ibkr.com.

2 Daily average revenue trades (DARTs) are based on customer orders.

2

INTERACTIVE BROKERS GROUP, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF INCOME

(UNAUDITED)

Three Months

Twelve Months

Ended December 31,

Ended December 31,

(in millions, except share and per share data)

Revenues:

Commissions

$

$

$

$

Other fees and services

Other income (loss)

6

Total non-interest income

Interest income

Interest expense

Total net interest income

Total net revenues

Non-interest expenses:

Execution, clearing and distribution fees

Employee compensation and benefits

Occupancy, depreciation and amortization

Communications

General and administrative

Customer bad debt

1

5

7

Total non-interest expenses

Income before income taxes

Income tax expense

Net income

Net income attributable to noncontrolling interests

Net income available for common stockholders

$

$

$

$

Earnings per share:

Basic

$

$

$

$

Diluted

$

$

$

$

Weighted average common shares outstanding:

Basic

Diluted

3

INTERACTIVE BROKERS GROUP, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(UNAUDITED)

Three Months

Twelve Months

Ended December 31,

Ended December 31,

(in millions, except share and per share data)

Comprehensive income:

Net income available for common stockholders

$

$

$

$

Other comprehensive income:

Cumulative translation adjustment, before income taxes

Income taxes related to items of other comprehensive income

-

-

-

-

Other comprehensive income (loss), net of tax

Comprehensive income available for common stockholders

$

$

$

$

Comprehensive earnings per share:

Basic

$

$

$

$

Diluted

$

$

$

$

Weighted average common shares outstanding:

Basic

Diluted

Comprehensive income attributable to noncontrolling interests:

Net income attributable to noncontrolling interests

$

$

$

$

Other comprehensive income - cumulative translation adjustment

Comprehensive income attributable to noncontrolling interests

$

$

$

$

4

INTERACTIVE BROKERS GROUP, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION

(UNAUDITED)

(in millions)

Assets

Cash and cash equivalents

$

$

Cash - segregated for regulatory purposes

Securities - segregated for regulatory purposes

Securities borrowed

Securities purchased under agreements to resell

Financial instruments owned, at fair value

Receivables from customers, net of allowance for credit losses

Receivables from brokers, dealers and clearing organizations

Other assets

Total assets

$

$

Liabilities and equity

Liabilities

Short-term borrowings

$

$

Securities loaned

Financial instruments sold but not yet purchased, at fair value

Other payables:

Customers

Brokers, dealers and clearing organizations

Other payables

Total liabilities

Equity

Stockholders' equity

Noncontrolling interests

Total equity

Total liabilities and equity

$

$

Ownership of IBG LLC Membership Interests

Interests

%

Interests

%

IBG, Inc.

Noncontrolling interests (IBG Holdings LLC)

Total IBG LLC membership interests

5

INTERACTIVE BROKERS GROUP, INC. AND SUBSIDIARIES

OPERATING DATA

EXECUTED ORDER VOLUMES:

(in 000's, except %)

Customer

%

Principal

%

Total

%

Period

Orders

Change

Orders

Change

Orders

Change

(9%)

(8%)

CONTRACT AND SHARE VOLUMES:

(in 000's, except %)

TOTAL

Options

%

Futures1

%

Stocks

%

Period

(contracts)

Change

(contracts)

Change

(shares)

Change

1%

4%

(3%)

8%

(8%)

CUSTOMER

Options

%

Futures1

%

Stocks

%

Period

(contracts)

Change

(contracts)

Change

(shares)

Change

1%

4%

(3%)

8%

(8%)

PRINCIPAL

Options

%

Futures1

%

Stocks

%

Period

(contracts)

Change

(contracts)

Change

(shares)

Change

(8%)

7%

1

Includes options on futures.

6

INTERACTIVE BROKERS GROUP, INC. AND SUBSIDIARIES

OPERATING DATA, CONTINUED

CUSTOMER STATISTICS

Year over Year

% Change

Total Accounts (in thousands)

Customer Equity (in billions)1

$

$

Total Customer DARTs (in thousands)

Cleared Customers

Commission per Cleared Commissionable Order2

$

$

Cleared Avg. DARTs per Account (Annualized)

Consecutive Quarters

% Change

Total Accounts (in thousands)

7%

Customer Equity (in billions)1

$

$

5%

Total Customer DARTs (in thousands)

Cleared Customers

Commission per Cleared Commissionable Order2

$

$

(4%)

Cleared Avg. DARTs per Account (Annualized)

8%

1

Excludes non-customers.

2

Commissionable Order - a customer order that generates commissions.

7

INTERACTIVE BROKERS GROUP, INC. AND SUBSIDIARIES

NET INTEREST MARGIN

(UNAUDITED)

Three Months

Twelve Months

Ended December 31,

Ended December 31,

(in millions)

Average interest-earning assets

Segregated cash and securities

$

$

$

$

Customer margin loans

Securities borrowed

Other interest-earning assets

FDIC sweeps1

$

$

$

$

Average interest-bearing liabilities

Customer credit balances

$

$

$

$

Securities loaned

Other interest-bearing liabilities

1

1

$

$

$

$

Net interest income

Segregated cash and securities, net

$

$

$

$

Customer margin loans2

Securities borrowed and loaned, net

Customer credit balances, net2

Other net interest income1/3

Net interest income3

$

$

$

$

Net interest margin ("NIM")

Annualized yields

Segregated cash and securities

Customer margin loans

Customer credit balances

1

Represents the average amount of customer cash swept into FDIC-insured banks as part of our Insured Bank Deposit Sweep Program. This item is not recorded in the Company's consolidated statements of financial condition. Income derived from program deposits is reported in other net interest income in the table above.

2

Interest income and interest expense on customer margin loans and customer credit balances, respectively, are calculated on daily cash balances within each customer’s account on a net basis, which may result in an offset of balances across multiple account segments (e.g., between securities and commodities segments).

3

Includes income from financial instruments that has the same characteristics as interest, but is reported in other fees and services and other income in the Company’s consolidated statements of comprehensive income. For the three and twelve months ended December 31, 2024 and 2023, $8 million, $28 million, $5 million, and $19 million were reported in other fees and services, respectively. For the three and twelve months ended December 31, 2024 and 2023, $15 million, $47 million, $4 million, and $7 million were reported in other income, respectively.

8

INTERACTIVE BROKERS GROUP, INC. AND SUBSIDIARIES

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES

(UNAUDITED)

Three Months

Twelve Months

Ended December 31,

Ended December 31,

(in millions)

Adjusted net revenues1

Net revenues - GAAP

$

$

$

$

Non-GAAP adjustments

Currency diversification strategy, net

9

Mark-to-market on investments2

8

Remeasurement of TRA liability3

9

(7)

9

(7)

Total non-GAAP adjustments

Adjusted net revenues

$

$

$

$

Adjusted income before income taxes1

Income before income taxes - GAAP

$

$

$

$

Non-GAAP adjustments

Currency diversification strategy, net

9

Mark-to-market on investments2

8

Remeasurement of TRA liability3

9

(7)

9

(7)

Bad debt expense4

-

5

-

5

Total non-GAAP adjustments

Adjusted income before income taxes

$

$

$

$

Adjusted pre-tax profit margin

9

Three Months

Twelve Months

Ended December 31,

Ended December 31,

(in millions)

Adjusted net income available for common stockholders1

Net income available for common stockholders - GAAP

$

$

$

$

Non-GAAP adjustments

Currency diversification strategy, net

5

2

4

Mark-to-market on investments2

3

2

Remeasurement of TRA liability3

9

(7)

9

(7)

Bad debt expense4

-

1

-

1

Income tax effect of above adjustments5

(2)

(1)

(4)

(2)

Remeasurement of deferred income taxes6

7

7

Total non-GAAP adjustments

5

5

8

Adjusted net income available for common stockholders

$

$

$

$

Note: Amounts may not add due to rounding.

Three Months

Twelve Months

Ended December 31,

Ended December 31,

(in dollars)

Adjusted diluted EPS1

Diluted EPS - GAAP

$

$

$

$

Non-GAAP adjustments

Currency diversification strategy, net

Mark-to-market on investments2

Remeasurement of TRA liability3

Bad debt expense4

Income tax effect of above adjustments5

Remeasurement of deferred income taxes6

Total non-GAAP adjustments

Adjusted diluted EPS

$

$

$

$

Diluted weighted average common shares outstanding

Note: Amounts may not add due to rounding.

Note: The term “GAAP” in the following explanation refers to generally accepted accounting principles in the United States.

1 Adjusted net revenues, adjusted income before income taxes, adjusted net income available for common stockholders and adjusted diluted earnings per share (“EPS”) are non-GAAP financial measures.

•

We define adjusted net revenues as net revenues adjusted to remove the effect of our currency diversification strategy, our net mark-to-market gains (losses) on investments2, and the remeasurement of our Tax Receivable Agreement (“TRA”) liability3.

•

We define adjusted income before income taxes as income before income taxes adjusted to remove the effect of our currency diversification strategy, our net mark-to-market gains (losses) on investments, the remeasurement of our TRA liability, and unusual bad debt expense4.

•

We define adjusted net income available to common stockholders as net income available for common stockholders adjusted to remove the after-tax effects attributable to IBG, Inc. of our currency diversification strategy, our net mark-to-market gains (losses) on investments, the remeasurement of our TRA liability, unusual bad debt expense, and the remeasurement of certain deferred tax assets6.

•

We define adjusted diluted EPS as adjusted net income available for common stockholders divided by the diluted weighted average number of shares outstanding for the period.

Management believes these non-GAAP items are important measures of our financial performance because they exclude certain items that may not be indicative of our core operating results and business outlook and may be useful to investors and analysts in evaluating the operating performance of the business and facilitating a meaningful comparison of our results in the current period to those in prior and future periods. Our currency diversification strategy, our mark-to-market on investments, the remeasurement of our TRA liability, unusual bad debt expense, and the remeasurement of certain deferred tax assets are excluded because management does not believe they are indicative of our underlying core business performance. Adjusted net revenues, adjusted income before income taxes, adjusted net income available to common stockholders and adjusted diluted EPS should be considered in addition to, rather than as a substitute for, GAAP net revenues, income before income taxes, net income attributable to common stockholders and diluted EPS.

2 Mark-to-market on investments represents the net mark-to-market gains (losses) on investments in equity securities that do not qualify for equity method accounting, which are measured at fair value; on our U.S. government and municipal securities portfolios, which are typically held to maturity; and on certain other investments, including equity securities taken over by the Company as a customer accommodation due to a technical issue at the New York Stock Exchange that occurred on the morning of June 3, 2024.

3 Remeasurement of our TRA liability represents the change in the amount payable to IBG Holdings LLC under the TRA, primarily due to changes in the Company’s effective tax rates. This is related to the remeasurement of the deferred tax assets described below. For further information refer to Note 4 – Equity and Earnings per Share under Part II, Item 8 – Financial Statements and Supplementary Data of the Company’s Annual Report on Form 10-K filed with the Securities Exchange Commission (“SEC”) on February 27, 2024.

4 Unusual bad debt expense consists of a credit loss on a loan not related to margin lending.

5 The income tax effect is estimated using the statutory income tax rates applicable to the Company.

6 Remeasurement of certain deferred tax assets represents the change in the unamortized balance of deferred tax assets related to the step-up in basis arising from the acquisition of interests in IBG LLC, primarily due to changes in the Company’s effective tax rates. For further information refer to Note 4 – Equity and Earnings per Share under Part II, Item 8 – Financial Statements and Supplementary Data of the Company’s Annual Report on Form 10-K filed with the SEC on February 27, 2024.