SHARPE
Reported results
- Revenue grew 19% year-over-year to $296 million
- GAAP operating income grew 64% to $57 million, or 19.4% of revenue (vs. $35 million or 14.1% in Q3 2025)
- Non-GAAP operating income grew 38% to $81 million, or 27.3% of revenue (vs. $59 million or 23.5% in Q3 2025)
- Total units under management grew 8% year-over-year to 9.8 million
- Net cash provided by operating activities was $97 million, or 32.7% of revenue (vs. $86 million or 34.5% in Q3 2025)
- GAAP net income was $45,978 thousand; non-GAAP net income was $64,681 thousand
Guidance
- Full year 2026 revenue range: $1.122 - $1.127 billion
- Full year 2026 non-GAAP operating margin range: 26.5% - 27.5%
- Diluted weighted average shares outstanding expected to be approximately 36 million for full year 2026
Notes
Company unable to provide GAAP equivalent forward-looking guidance for non-GAAP operating margin due to uncertainty of stock-based compensation and other excluded items.
Price and volatility reaction
The stock moved -3.1% on the print. No front-expiry chain was on file, so there is no straddle expected move. 30-day ATM implied volatility moved -14.2 vol points across the event (constant-maturity series — not the front-week crush).
| Measure | Value | Basis |
|---|---|---|
| Close before release | 217.33 | 2026-10-22 |
| Close after release | 210.62 | 2026-10-23 |
| Realised move | -3.1% | close to close |
| 30d ATM IV change | -14.2 vol pts | constant-maturity series, not the front expiry |
Source
The figures above come from the earnings release the company filed with the SEC on 2026-10-22 (8-K, Item 2.02). Read the original filing on sec.gov.