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Where the tokens are
Standardised from the company’s filings, newest period first, labelled with the company’s own fiscal calendar. A line the company does not report is left off rather than shown as zero; margins and free cash flow are worked out here, and only where every input is present.
| Line item | Q2 FY262026-06-30 | Q1 FY262026-03-31 | Q4 FY252025-12-31 | Q3 FY252025-09-30 | Q2 FY252025-06-30 | Q1 FY252025-03-31 | Q4 FY242024-12-31 | Q3 FY242024-09-30 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $867.00M | $850.80M | $822.53M | $793.43M | $772.70M | $745.80M | $743.51M | $724.71M |
| Cost of revenue | $149.90M | $141.80M | $143.38M | $132.53M | $137.70M | $136.80M | $131.57M | $126.19M |
| Gross profit | $717.10M | $709.00M | $679.15M | $660.90M | $635.00M | $609.00M | $611.94M | $598.51M |
| Gross margin | 82.7% | 83.3% | 82.6% | 83.3% | 82.2% | 81.7% | 82.3% | 82.6% |
| Research and development | $46.00M | $49.60M | $41.12M | $44.81M | $44.10M | $47.60M | $38.47M | $38.58M |
| Selling, general and administrative | $133.60M | $154.70M | $126.02M | $121.66M | $116.50M | $135.80M | $121.22M | $112.32M |
| Operating expenses | $229.60M | $252.10M | $215.53M | $213.21M | $209.70M | $232.00M | $206.75M | $197.18M |
| Operating income | $487.50M | $456.90M | $463.62M | $447.69M | $425.30M | $377.00M | $405.19M | $401.33M |
| Operating margin | 56.2% | 53.7% | 56.4% | 56.4% | 55.0% | 50.5% | 54.5% | 55.4% |
| EBITDA | $537.50M | $504.70M | $512.00M | $494.43M | $474.40M | $425.60M | $452.25M | $447.61M |
| Interest income | $2.50M | $2.80M | $4.10M | $5.11M | $2.90M | $3.90M | $3.90M | $5.22M |
| Interest expense | −$71.00M | −$69.10M | −$63.59M | −$53.62M | −$46.20M | −$46.50M | −$45.51M | −$46.69M |
| Income before taxes | $417.30M | $389.20M | $388.84M | $396.51M | $377.80M | $331.10M | $363.35M | $356.94M |
| Income taxes | $75.30M | −$16.80M | $104.17M | $71.12M | $74.10M | $42.50M | $57.83M | $76.04M |
| Net income | $342.00M | $406.00M | $284.67M | $325.39M | $303.70M | $288.60M | $305.52M | $280.90M |
| Net margin | 39.4% | 47.7% | 34.6% | 41.0% | 39.3% | 38.7% | 41.1% | 38.8% |
| EPS, basic | $4.70 | $5.54 | $3.82 | $4.26 | $3.92 | $3.72 | $3.91 | $3.58 |
| EPS, diluted | $4.69 | $5.53 | $3.81 | $4.25 | $3.92 | $3.71 | $3.90 | $3.57 |
| Diluted shares | 72.90M | 73.40M | 74.67M | 76.58M | 77.50M | 77.80M | 78.36M | 78.73M |
Figures describe MSCI shares, not any token. As of Jul 21, 2026, from Massive's standardised financials. The company reports these figures; a token's issuer holds the shares and reports nothing of its own here.