“66 Table of Contents Operating Expenses Total operating expenses for the year ended December 31, 2025 compared to the year ended December 31, 2024 decreased $12.0 million, or 1%, primarily due to decreases in impairment of assets and depreciation and amortization, partially offset by an increase in compensation and benefits.”
“Impairment of assets decreased for the nine months ended September 30, 2025, compared to the same period in 2024 primarily due to the impairment of assets of $81.0 million recognized in the former Digital segment during the nine months ended September 2024, partially offset by the impairment of Cboe Japan's assets of $21.6 million during the nine months ended September 30, 2025 as a result of the wind down of the Company's Japanese equities business.”
“Total other income, net increased primarily as a result of the net gain of $389.5 million related to the change in fair value of our warrant liability, an increase of approximately $51.5 million related to the gain on the deconsolidation of Ondas Networks, an increase of approximately $11.9 million in interest and dividend income, and a decrease of approximately $3.5 million in interest expense.”