Virtu Financial (VIRT) investor relations material

Executive summary

• Achieved substantial progress on growth initiatives, including infrastructure investment, talent acquisition, and capital base expansion, with continued organic growth in both market making and execution services supported by technology and talent investments.

• Attrition rates at multi-year lows, reflecting a positive culture shift and successful hiring.

• Net income for Q2 2026 was $284.9 million, with Normalized Adjusted Net Income at $291.5 million, and EPS of $1.63 (Normalized Adjusted EPS: $1.82).

• Total revenues rose 19.0% year-over-year to $1,190.0 million, and trading income, net, increased 31.2% to $856.7 million.

• Trading capital increased to $3.4 billion, up from $2 billion year-over-year, supported by retained earnings and a term loan.

Financial highlights

• Adjusted Net Trading Income (ANTI/NTI) for Q2 2026 was $717.9 million, up 26% sequentially but down 10% year-over-year, with Market Making contributing $579.9 million and Execution Services $138.0 million.

• Adjusted EBITDA reached $437 million with a 61% margin; Adjusted EPS was $1.82.

• Net income margin was 23.9% for Q2 2026.

• Trailing 12-month ANTI per day was $10.4 million, Adjusted EBITDA $1.7 billion, and Adjusted EPS $6.96—all record highs.

• Cash, cash equivalents, and restricted cash totaled $1,133.0 million as of June 30, 2026.

Outlook and guidance

• Continued focus on accumulating trading capital through free cash flow and opportunistic financing.

• Aggressive hiring expected to continue for at least the next couple of years, especially in quantitative, trading, and engineering roles.

• Compensation ratio guidance remains in the low to mid-20% range on a cash basis.

• Management highlights ongoing investments in technology and talent as drivers for future growth.

• Forward-looking statements caution that results are subject to market volatility, trading volumes, regulatory changes, and technology risks.