Filing Flows › Virtu Financial (VIRT) › Q2 2025
Virtu Financial (VIRT) Q2 2025 earnings results (second quarter 2025)
10-Q filed Jul 31, 2025
Virtu Financial (VIRT) reported revenue of $1.0B for the second quarter 2025 (Q2 2025), +44% from a year earlier and +19% from the quarter before. Operating margin was 34.7%, net earnings $151M (15.1% of revenue).
Virtu Financial, Q2 2025: revenue $1.0B (+44% year over year), operating margin 34.7%, net earnings $151M, operating cash flow $62.8M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.0B | +19% | +44% |
| Operating profit | $347M | +55% | +123% |
| Net earnings | $151M | +52% | +127% |
| Operating cash flow | $62.8M | +319% | -87% |
| Free cash flow | $57.6M | +523% | -88% |
What changed
Revenue was $999.6M in Q2 2025, up 44% year over year and up 19% from the previous quarter.
Operating profit was $347.0M, a 34.7% margin (up 12.3 points year over year). Of the extra revenue versus a year earlier, 63% reached operating profit, above the 22% margin then. Total costs grew 21% against revenue growth of 44%. The fastest-growing cost line was Other operating costs (+22%). Net earnings were $151.2M, up 127% year over year. The effective tax rate was 15.6%.
Operating cash flow was $62.8M (down 87% year over year), 21% of net income including minority interests. Non-cash charges added back $22.6M of share-based compensation. Working capital and other items used $252.8M. Capital expenditures of $5.2M left free cash flow of $57.6M.
Questions
What was Virtu Financial's revenue in the second quarter 2025?
Virtu Financial (VIRT) reported revenue of $1.0B for the second quarter 2025 (Q2 2025), +44% from a year earlier and +19% from the quarter before.
Was Virtu Financial profitable in the second quarter 2025?
Operating profit was $347M (34.7% of revenue) and net earnings $151M.
Source: Virtu Financial 10-Q on SEC EDGAR.