Filing Flows › Virtus Investment Partners (VRTS) › Q2 2025
Virtus Investment Partners (VRTS) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 7, 2025
Virtus Investment Partners (VRTS) reported revenue of $211M for the second quarter 2025 (Q2 2025), -6% from a year earlier and -3% from the quarter before. Operating margin was 21.5%, net earnings $42.4M (20.1% of revenue).
Virtus Investment Partners, Q2 2025: revenue $211M (-6% year over year), operating margin 21.5%, net earnings $42.4M, operating cash flow $75.8M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $211M | -3% | -6% |
| Operating profit | $45.2M | +24% | +2% |
| Net earnings | $42.4M | +48% | +141% |
| Operating cash flow | $75.8M | — | +8% |
| Free cash flow | $74.2M | — | +8% |
What changed
Revenue was $210.5M in Q2 2025, down 6% year over year and down 3% from the previous quarter. Open-end funds was the largest line at 33% of revenue. Open-end funds lost $9.5M year over year (down 12%), 69% of the total change.
Operating profit was $45.2M, a 21.5% margin (up 1.8 points year over year). Total costs fell 8% while revenue fell 6%. Net earnings were $42.4M, up 141% year over year. The effective tax rate was 22.5%.
Operating cash flow was $75.8M (up 8% year over year), 177% of net earnings. Non-cash charges added back $15.8M of depreciation and amortization and $6.8M of share-based compensation. Working capital and other items added $10.4M. Capital expenditures of $1.6M left free cash flow of $74.2M.
Questions
What was Virtus Investment Partners' revenue in the second quarter 2025?
Virtus Investment Partners (VRTS) reported revenue of $211M for the second quarter 2025 (Q2 2025), -6% from a year earlier and -3% from the quarter before.
Was Virtus Investment Partners profitable in the second quarter 2025?
Operating profit was $45.2M (21.5% of revenue) and net earnings $42.4M.