Filing Flows › Virtu Financial (VIRT) › Q3 2025
Virtu Financial (VIRT) Q3 2025 earnings results (third quarter 2025)
10-Q filed Oct 30, 2025
Virtu Financial (VIRT) reported revenue of $825M for the third quarter 2025 (Q3 2025), +17% from a year earlier and -17% from the quarter before. Operating margin was 21.8%, net earnings $77.6M (9.4% of revenue).
Virtu Financial, Q3 2025: revenue $825M (+17% year over year), operating margin 21.8%, net earnings $77.6M, operating cash flow −$68.7M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $825M | -17% | +17% |
| Operating profit | $180M | -48% | +22% |
| Net earnings | $77.6M | -49% | +29% |
| Operating cash flow | −$68.7M | -209% | — |
What changed
Revenue was $824.8M in Q3 2025, up 17% year over year and down 17% from the previous quarter.
Operating profit was $180.0M, a 21.8% margin (up 1.0 points year over year). Of the extra revenue versus a year earlier, 28% reached operating profit, above the 21% margin then. Total costs grew 15% against revenue growth of 17%. The fastest-growing cost line was Other operating costs (+16%). Net earnings were $77.6M, up 29% year over year. The effective tax rate was 17.2%.
Operating cash flow was −$68.7M. Non-cash charges added back $26.9M of share-based compensation. Working capital and other items used $244.7M. Capital expenditures of $8.0M exceeded it, leaving free cash flow of −$76.7M.
Questions
What was Virtu Financial's revenue in the third quarter 2025?
Virtu Financial (VIRT) reported revenue of $825M for the third quarter 2025 (Q3 2025), +17% from a year earlier and -17% from the quarter before.
Was Virtu Financial profitable in the third quarter 2025?
Operating profit was $180M (21.8% of revenue) and net earnings $77.6M.
Source: Virtu Financial 10-Q on SEC EDGAR.