Filing Flows › Virtu Financial (VIRT) › Q1 2025
Virtu Financial (VIRT) Q1 2025 earnings results (first quarter 2025)
10-Q filed Apr 29, 2025
Virtu Financial (VIRT) reported revenue of $838M for the first quarter 2025 (Q1 2025), +30% from a year earlier and +0.4% from the quarter before. Operating margin was 26.7%, net earnings $99.7M (11.9% of revenue).
Virtu Financial, Q1 2025: revenue $838M (+30% year over year), operating margin 26.7%, net earnings $99.7M, operating cash flow $15.0M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $838M | +0.4% | +30% |
| Operating profit | $224M | +10% | +60% |
| Net earnings | $99.7M | +6% | +79% |
| Operating cash flow | $15.0M | -96% | — |
| Free cash flow | $9.2M | -98% | — |
What changed
Revenue was $837.9M in Q1 2025, up 30% year over year and roughly flat from the previous quarter.
Operating profit was $223.7M, a 26.7% margin (up 5.0 points year over year). Of the extra revenue versus a year earlier, 43% reached operating profit, above the 22% margin then. Total costs grew 22% against revenue growth of 30%. The fastest-growing cost line was Other operating costs (+23%). Net earnings were $99.7M, up 79% year over year. The effective tax rate was 15.2%.
Operating cash flow was $15.0M, 8% of net income including minority interests. Non-cash charges added back $21.9M of share-based compensation. Working capital and other items used $196.6M. Capital expenditures of $5.7M left free cash flow of $9.2M.
Questions
What was Virtu Financial's revenue in the first quarter 2025?
Virtu Financial (VIRT) reported revenue of $838M for the first quarter 2025 (Q1 2025), +30% from a year earlier and +0.4% from the quarter before.
Was Virtu Financial profitable in the first quarter 2025?
Operating profit was $224M (26.7% of revenue) and net earnings $99.7M.
Source: Virtu Financial 10-Q on SEC EDGAR.