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Virtu Financial (VIRT) investor relations material
Virtu Financial Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2025 earnings summary30 Jul, 2025
Executive summary
Q2 2025 delivered record results, with total revenue up 44.2% to $999.6M and net income at $293M, driven by market volatility, strong trading, and client engagement.
Adjusted Net Trading Income reached $568M ($9.2M/day), and Adjusted EPS was $1.53, both recent highs.
CEO Douglas Cifu announced retirement; Aaron Simons to become CEO, ensuring leadership continuity.
Share repurchases totaled $66M in Q2 and $1.4B since inception, with 19–19.5% of shares retired.
Quarterly dividend of $0.24 per share declared.
Financial highlights
Adjusted Net Trading Income up 50% year-over-year to $568M; Adjusted EBITDA margin reached 65%.
Adjusted EPS increased 83% year-over-year to $1.53; net income margin at 29.3%.
Trading income, net, rose 53.1% to $652.8M; commissions and tech services up 22% to $153.9M.
Operating expenses for Q2 2025: $652.6M, up 21.4% year-over-year.
Cash and cash equivalents at June 30, 2025: $752.1M–$789.8M; long-term debt: $1.77B.
Outlook and guidance
Growth expected from digital assets, ETF block, and technology investment; strong liquidity supports expansion.
Anticipates continued tailwinds from retail engagement, overnight trading, and tokenization.
No material impact expected from recent tax or regulatory changes.
How did total revenues change from 2024?
Explain Market Making segment activities.
Detail share repurchase program capacity.
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Next Virtu Financial earnings date
Q3 202529 Oct, 2025
Next Virtu Financial earnings date
Q3 202529 Oct, 2025
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Frequently asked questions
Virtu Financial, Inc provides data, analytics and connectivity products to clients worldwide. The Market Making segment executes market making, trading, and investment activities as a regulated financial institution under the Commodity Exchange Act (CEA) and other applicable regulatory regimes. Market Making segment also conducts proprietary trading in a range of asset classes on exchanges, dark venues and over-the-counter markets. The Execution Services segment provides brokerage services for the exchange and OTC trading businesses of third parties. Its advisory services include business development, risk management, affiliate relationships, and the design of efficient trade execution processes.
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