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Virtus Investment Partners (VRTS) earnings and revenue breakdown

Latest: Q2 2026 · 10-Q filed Aug 7, 2026 · Virtus Investment Partners (VRTS) Q2 2026 earnings results →

Q2 2026 Revenue down 4% year over year to $201M · 22¢ of every $1 of revenue kept as net profit · operating margin 13.6%

Virtus Investment Partners made $201M in Q2 2026 (-4% Y/Y): Investment management fees $171M, Administration and shareholder service fees $17.3M, Distribution and service fees $11.8M. Operating margin 13.6%, net earnings $45.3M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 7, 2026.

Revenue$201M

Year over year-4%

Operating margin13.6%

Net earnings$45.3M

Operating cash flow$57.4M

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $201.4M in Q2 2026, down 4% year over year and up 1% from the previous quarter. Open-end funds was the largest line at 31% of revenue. Retail separate accounts lost $9.1M year over year (down 18%), 100% of the total change.

Operating profit was $27.3M, a 13.6% margin (down 7.9 points year over year). Total costs grew 5% against a revenue fall of 4%. Net earnings were $45.3M, up 7% year over year ($44.6M including minority interests, which bore $699K of losses). The effective tax rate was 15.9%. Non-operating items added $25.7M, 48% of pre-tax earnings, so the bottom line overstates operating performance.

Operating cash flow was $57.4M (down 24% year over year), 129% of net earnings. Non-cash charges added back $22.5M of depreciation and amortization and $10.9M of share-based compensation. Working capital and other items used $20.6M. Capital expenditures of $1.3M left free cash flow of $56.1M.

Quarterly history

Quarter	Form	Filed	Revenue	Y/Y	Op. margin	Net earnings	Op. cash flow
Q2 2026	10-Q	Aug 7, 2026	$201M	-4%	13.6%	$45.3M	$57.4M
Q1 2026	10-Q	May 8, 2026	$200M	-8%	7.7%	$7.1M	$35.9M
Q4 2025	10-K	Feb 27, 2026	$208M	-11%	19.1%	$35.5M	−$247M
Q3 2025	10-Q	Nov 7, 2025	$216M	-5%	21.7%	$31.9M	$108M
Q2 2025	10-Q	Aug 7, 2025	$211M	-6%	21.5%	$42.4M	$75.8M
Q1 2025	10-Q	May 9, 2025	$218M	-2%	16.8%	$28.6M	−$3.8M
Q4 2024	10-K	Feb 28, 2025	$233M	+9%	21.7%	$33.3M	−$103M

Charts

Latest (Q2 2026): Y/Y -4%, Q/Q +1%.

From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.

Latest (Q2 2026): Net income $44.6M, Operating cash flow $57.4M.

-13.1% since FY2020: buybacks shrank the count.

Cash $478M, short-term investments —, long-term debt $390M at 2025-12-31.

Investment Advice; dot size is quarterly revenue; dashed lines are the industry's medians.