Summary
Nasdaq, Inc. (NDAQ) has filed a Current Report on Form 8-K to provide updated pro forma financial information following its acquisition of Adenza Holdings, Inc., which closed on November 1, 2023. This filing is in preparation for a new Registration Statement on Form S-3, intended to replace an expiring one. The provided unaudited pro forma financial data for the year ended December 31, 2023, illustrates the combined financial performance as if the Adenza acquisition had occurred at the beginning of the fiscal year.
Key Highlights
- 1Nasdaq is filing pro forma financial information for the year ended December 31, 2023, to reflect the impact of the Adenza acquisition.
- 2The pro forma statements assume the Adenza acquisition and related financing occurred on January 1, 2023.
- 3For the twelve months ended December 31, 2023, Adenza contributed $583 million in revenue.
- 4Adenza's GAAP operating income was $174 million, while its non-GAAP operating income was $331 million for the twelve months ended December 31, 2023.
- 5Non-GAAP operating income excludes $130 million in intangible amortization and $27 million in restructuring costs.
- 6Nasdaq is also filing a new Registration Statement on Form S-3, expected on April 30, 2024, due to the upcoming expiration of its current S-3 registration.
- 7The filing includes unaudited pro forma condensed combined financial information as an exhibit.