Filing Flows › Virtus Investment Partners (VRTS) › Q3 2026 › vs Q2 2026
Virtus Investment Partners (VRTS) Q3 2026 vs Q2 2026 (quarter over quarter)
Virtus Investment Partners's revenue fell $3.8M (-2%) from $201M in Q2 2026 to $198M in Q3 2026. The biggest changes: Investment management fees −$3.5M (-2%); Distribution and service fees −$290K (-2%); Other income and fees +$72K (+5%). Operating margin 17.4% against 13.6% (+3.8 pts).
Virtus Investment Partners, Q3 2026: revenue $198M (-9% year over year), operating margin 17.4%, net earnings $22.1M, operating cash flow $75.3M. The chart draws each line against Q2 2026, the increases inside each band.
Margins
| Q3 2026 | Q2 2026 | Change | |
|---|---|---|---|
| Operating margin | 17.4% | 13.6% | +3.8 pts |
| Net margin | 11.2% | 22.5% | -11.3 pts |
| Free cash flow margin | 37.6% | 27.9% | +9.8 pts |
Every line
| Line | Q3 2026 | Q2 2026 | Change | % |
|---|---|---|---|---|
| Open-end funds | $63.1M | $61.5M | $1.7M | +3% |
| Retail separate accounts | $41.5M | $42.7M | −$1.2M | -3% |
| Institutional accounts | $34.8M | $37.9M | −$3.1M | -8% |
| Closed-end funds | $27.9M | $28.8M | −$908K | -3% |
| Investment management fees | $167M | $171M | −$3.5M | -2% |
| Administration and shareholder service fees | $17.3M | $17.3M | −$20K | -0.1% |
| Distribution and service fees | $11.5M | $11.8M | −$290K | -2% |
| Other income and fees | $1.5M | $1.4M | $72K | +5% |
| Revenue | $198M | $201M | −$3.8M | -2% |
| Operating profit | $34.3M | $27.3M | $7.0M | +26% |
| Costs & expenses | $163M | $174M | −$10.8M | -6% |
| Pre-tax earnings | $29.6M | $53.0M | −$23.5M | -44% |
| Other expense, net | $4.8M | −$25.7M | $30.5M | — |
| Loss borne by minority interests | $2.7M | $699K | $2.0M | +285% |
| Net earnings | $22.1M | $45.3M | −$23.2M | -51% |
| Income tax | $10.1M | $8.4M | $1.7M | +21% |
| Depreciation & amortization | $22.5M | $22.5M | −$17K | -0.1% |
| Share-based compensation | $3.7M | $10.9M | −$7.3M | -66% |
| Working capital & other | $27.0M | −$21.3M | $48.3M | — |
| Operating cash flow | $75.3M | $57.4M | $17.8M | +31% |
| Free cash flow (OCF − capex) | $74.4M | $56.1M | $18.3M | +33% |
| Capital expenditures | $883K | $1.3M | −$452K | -34% |
Questions
How much did Virtus Investment Partners's revenue grow quarter over quarter in Q3 2026?
Virtus Investment Partners's revenue fell $3.8M (-2%) from $201M in Q2 2026 to $198M in Q3 2026.
What drove Virtus Investment Partners's revenue change in Q3 2026?
Investment management fees −$3.5M (-2%); Distribution and service fees −$290K (-2%); Other income and fees +$72K (+5%).