Filing Flows › Victory Capital Holdings (VCTR) › Q2 2026
Victory Capital Holdings (VCTR) Q2 2026 earnings results (second quarter 2026)
10-Q filed Aug 6, 2026
Victory Capital Holdings (VCTR) reported revenue of $435M for the second quarter 2026 (Q2 2026), +24% from a year earlier and +12% from the quarter before. Operating margin was 44.5%, net earnings $139M (32.0% of revenue).
Victory Capital Holdings, Q2 2026: revenue $435M (+24% year over year), operating margin 44.5%, net earnings $139M, operating cash flow $135M. The chart follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $435M | +12% | +24% |
| Operating profit | $194M | +22% | +106% |
| Net earnings | $139M | +24% | +137% |
| Operating cash flow | $135M | +12% | — |
| Free cash flow | $134M | +12% | — |
What changed
Revenue was $435.4M in Q2 2026, up 24% year over year and up 12% from the previous quarter. Investment Management Fees was the largest line at 83% of revenue. Investment Management Fees added $79.9M year over year (up 28%), 95% of the total change.
Operating profit was $193.7M, a 44.5% margin (up 17.7 points year over year). Of the extra revenue versus Q2 2025, 118% reached operating profit, above the 27% margin then. Total costs fell 6% while revenue rose 24%. Net earnings were $139.4M, up 137% year over year. The effective tax rate was 25.6%.
Operating cash flow was $135.4M, 97% of net earnings. Non-cash charges added back $20.6M of depreciation and amortization and $15.8M of share-based compensation. Working capital and other items used $40.3M. Capital expenditures of $1.2M left free cash flow of $134.2M.
Questions
What was Victory Capital Holdings' revenue in the second quarter 2026?
Victory Capital Holdings (VCTR) reported revenue of $435M for the second quarter 2026 (Q2 2026), +24% from a year earlier and +12% from the quarter before.
Was Victory Capital Holdings profitable in the second quarter 2026?
Operating profit was $194M (44.5% of revenue) and net earnings $139M.