Filing Flows › Virtus Investment Partners (VRTS) › Q4 2025
Virtus Investment Partners (VRTS) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 27, 2026
Virtus Investment Partners (VRTS) reported revenue of $208M for the fourth quarter 2025 (Q4 2025), -11% from a year earlier and -4% from the quarter before. Operating margin was 19.1%, net earnings $35.5M (17.0% of revenue).
Virtus Investment Partners, Q4 2025: revenue $208M (-11% year over year), operating margin 19.1%, net earnings $35.5M, operating cash flow −$247M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $208M | -4% | -11% |
| Operating profit | $39.8M | -15% | -22% |
| Net earnings | $35.5M | +11% | +6% |
| Operating cash flow | −$247M | -329% | — |
What changed
Revenue was $208.0M in Q4 2025, down 11% year over year and down 4% from the previous quarter.
Operating profit was $39.8M, a 19.1% margin (down 2.6 points year over year). Total costs fell 8% while revenue fell 11%. Net earnings were $35.5M, up 6% year over year ($33.9M including minority interests, which bore $1.6M of losses). The effective tax rate was 28.4%.
Operating cash flow was −$247.4M. Non-cash charges added back $15.5M of depreciation and amortization and $4.7M of share-based compensation. Working capital and other items used $301.6M. Capital expenditures of $944K exceeded it, leaving free cash flow of −$248.4M.
Questions
What was Virtus Investment Partners' revenue in the fourth quarter 2025?
Virtus Investment Partners (VRTS) reported revenue of $208M for the fourth quarter 2025 (Q4 2025), -11% from a year earlier and -4% from the quarter before.
Was Virtus Investment Partners profitable in the fourth quarter 2025?
Operating profit was $39.8M (19.1% of revenue) and net earnings $35.5M.