)
Edge28 Nov 2025
Keeping the Streak Alive: The Story of Duolingo
How Duolingo made language learning addictive, scaled to millions of users, and built a powerful subscription business around everyday practice.
Victory Capital (VCTR) investor relations material
Victory Capital Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary7 Nov, 2025
Executive summary
Total client assets reached $313.4 billion at September 30, 2025, with AUM at $310.6 billion, up $12.1 billion sequentially, driven by $14.5 billion in market appreciation and partially offset by $0.3 billion in net outflows.
Completed acquisition of Amundi US (Pioneer Investments) on April 1, 2025, adding $114.6 billion in AUM and expanding global reach.
Integration of Pioneer Investments is ahead of plan, with $86 million in net expense synergies achieved and on track to deliver $110 million within the expected timeframe.
Adjusted EBITDA reached $190.5 million, with a margin of 52.7%.
Adjusted earnings per diluted share with tax benefit was $1.63, up 4% sequentially and 20% year-over-year.
Financial highlights
Q3 2025 revenue rose 60.1% year-over-year to $361.2 million; sequentially up 2.8%.
GAAP net income for Q3 2025 was $96.5 million, up 64.4% sequentially and 17.8% year-over-year.
Adjusted net income with tax benefit for Q3 2025 was $141.3 million ($1.63 per diluted share), up 6.5% sequentially and 58.7% year-over-year.
Adjusted EBITDA for Q3 2025 was $190.5 million, up 6.7% sequentially and 57.1% year-over-year.
Repurchased 1.8 million shares and returned $163 million to shareholders, including a $0.49 per share dividend.
Outlook and guidance
Management expects to achieve $110 million in net expense synergies from the Pioneer acquisition within the previously disclosed timeframe.
Expect fee rate to remain in the 46-47 basis point range over the next 12 months.
Continued focus on strategic growth areas, inorganic growth opportunities, and enhancing shareholder value through buybacks and dividends.
Anticipate strong sales momentum in ETFs to accelerate in the U.S. and internationally.
Section 338(h)(10) election provides $393 million in future cash tax savings.
Impact of Pioneer on AUM regional mix?
Reason for Q3 $1B divested assets?
Summarize new debt facility terms.
What drives synergy target outperformance?
What drives 2026 non-U.S. sales ramp-up?
How to integrate alternative investment firms?
Partial view of Summaries dataset, powered by Quartr API
Research faster. Power your platform.
Next Victory Capital earnings date
Q4 20256 Feb, 2026
Next Victory Capital earnings date
Q4 20256 Feb, 2026
The essential earnings season companion
The #1 app for qualitative research. Live earnings calls, AI chat, transcripts, and more. All for free.
Live calls and transcripts
Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.
Find what you need faster
Search for any keyword across all transcripts simultaneously.
Easily store key findings
Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Your watchlist. Your dashboard.
Follow the companies that matter to you. Get a personalized feed with real-time updates.
Be the first to know
Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.
Consensus estimates
Access analyst consensus estimates, valuation multiples, and revenue segments splits.
All IR material in one place
The easiest way to stay updated during earnings season.
Global coverage
All events from public companies. Live and recorded.
Just click and listen
No webcast links. No manual registrations.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
)
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
)
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
I can't remember the last time an app had such a positive impact on my investment process.
)
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
I can't remember the last time an app had such a positive impact on my investment process.
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
)
)
Frequently asked questions
Victory Capital Holdings, Inc. is an investment management firm providing a range of asset management solutions to institutions, financial intermediaries, and individual investors. The company offers actively managed strategies, passively managed solutions, and customized investment portfolios across various asset classes, including equities, fixed income, and alternative investments. The company is headquartered in San Antonio, Texas, and its shares are listed on the NASDAQ.
Quartr provides global coverage of all investor relation material from public companies.
Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.
Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.
Yes, the Quartr mobile app is free on both iOS and Android.
Yes. Quartr provides global, industry-leading live coverage of company events such as regular earnings calls, capital markets days, M&A announcements, and investor conferences. Live with zero delays. Just click and listen.
Yes, capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Yes. Follow the companies that matter to you. Get a personalized feed with real-time updates, a tailored earnings calendar, and instant alerts when earnings calls go live.
Yes. Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned, regardless of who's talking.
Explore our global coverage