Filing Flows › Victory Capital Holdings (VCTR) › Q1 2025
Victory Capital Holdings (VCTR) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 9, 2025
Victory Capital Holdings (VCTR) reported revenue of $220M for the first quarter 2025 (Q1 2025), +2% from a year earlier and -5% from the quarter before. Operating margin was 42.3%, net earnings $62.0M (28.2% of revenue).
Victory Capital Holdings, Q1 2025: revenue $220M (+2% year over year), operating margin 42.3%, net earnings $62.0M, operating cash flow $81.1M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $220M | -5% | +2% |
| Operating profit | $92.9M | -17% | +10% |
| Net earnings | $62.0M | -19% | +11% |
| Operating cash flow | $81.1M | -12% | +18% |
| Free cash flow | $79.5M | -13% | +17% |
What changed
Revenue was $219.6M in Q1 2025, up 2% year over year and down 5% from the previous quarter. Investment Management Fees was the largest line at 79% of revenue. Investment Management Fees added $3.5M year over year (up 2%), 94% of the total change.
Operating profit was $92.9M, a 42.3% margin (up 3.0 points year over year). Of the extra revenue versus a year earlier, 216% reached operating profit, above the 39% margin then. Total costs fell 3% while revenue rose 2%. Net earnings were $62.0M, up 11% year over year. The effective tax rate was 22.9%.
Operating cash flow was $81.1M (up 18% year over year), 131% of net earnings. Non-cash charges added back $7.4M of depreciation and amortization and $3.5M of share-based compensation. Working capital and other items added $8.2M. Capital expenditures of $1.6M left free cash flow of $79.5M.
Questions
What was Victory Capital Holdings' revenue in the first quarter 2025?
Victory Capital Holdings (VCTR) reported revenue of $220M for the first quarter 2025 (Q1 2025), +2% from a year earlier and -5% from the quarter before.
Was Victory Capital Holdings profitable in the first quarter 2025?
Operating profit was $92.9M (42.3% of revenue) and net earnings $62.0M.