Filing Flows › Virtus Investment Partners (VRTS) › Q1 2025
Virtus Investment Partners (VRTS) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 9, 2025
Virtus Investment Partners (VRTS) reported revenue of $218M for the first quarter 2025 (Q1 2025), -2% from a year earlier and -7% from the quarter before. Operating margin was 16.8%, net earnings $28.6M (13.1% of revenue).
Virtus Investment Partners, Q1 2025: revenue $218M (-2% year over year), operating margin 16.8%, net earnings $28.6M, operating cash flow −$3.8M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $218M | -7% | -2% |
| Operating profit | $36.6M | -28% | +13% |
| Net earnings | $28.6M | -14% | -4% |
| Operating cash flow | −$3.8M | — | — |
What changed
Revenue was $217.9M in Q1 2025, down 2% year over year and down 7% from the previous quarter. Open-end funds was the largest line at 34% of revenue. Open-end funds lost $4.6M year over year (down 6%), 113% of the total change.
Operating profit was $36.6M, a 16.8% margin (up 2.2 points year over year). Total costs fell 4% while revenue fell 2%. Net earnings were $28.6M, down 4% year over year ($28.1M including minority interests, which bore $595K of losses). The effective tax rate was 30.6%.
Operating cash flow was −$3.8M. Non-cash charges added back $16.1M of depreciation and amortization and $6.7M of share-based compensation. Working capital and other items used $54.7M. Capital expenditures of $3.0M exceeded it, leaving free cash flow of −$6.8M.
Questions
What was Virtus Investment Partners' revenue in the first quarter 2025?
Virtus Investment Partners (VRTS) reported revenue of $218M for the first quarter 2025 (Q1 2025), -2% from a year earlier and -7% from the quarter before.
Was Virtus Investment Partners profitable in the first quarter 2025?
Operating profit was $36.6M (16.8% of revenue) and net earnings $28.6M.