Virtu Announces Second Quarter 2025 Results

NEW YORK, July 30, 2025 (GLOBE NEWSWIRE) -- Virtu Financial, Inc. (NYSE: VIRT), a leading provider of financial services and products that leverages cutting edge technology to deliver innovative, transparent trading solutions to its clients and liquidity to the global markets, today reported results for the second quarter ended June 30, 2025. Second Quarter 2025: Net income of $293.0 million; Normalized Adjusted Net Income1 of $244.2 millionBasic and diluted earnings per share of $1.65; Normalized Adjusted EPS1 of $1.53Total revenues of $999.6 million; Trading income, net, of $652.8 million; Net income Margin of 29.3%2 Adjusted Net Trading Income1 of $567.7 million Adjusted EBITDA1 of $369.4 million; Adjusted EBITDA Margin1 of 65.1%Share buybacks of $66.3 million, or 1.7 million shares, under the Share Repurchase Program3 The Virtu Financial, Inc. Board of Directors declared a quarterly cash dividend of $0.24 per share. This dividend is payable on September 15, 2025 to shareholders of record as of September 1, 2025. Note 1: Non-GAAP financial measures. Please see "Non-GAAP Financial Measures and Other Items" for more information.Note 2: Calculated by dividing Net income by Total revenueNote 3: Shares repurchased calculated on a settlement date basis. Financial Results Second Quarter 2025: Total revenues increased 44.2% to $999.6 million for this quarter, compared to $693.0 million for the same period in 2024. Trading income, net, increased 53.1% to $652.8 million for the quarter compared to $426.4 million for the same period in 2024. Net income totaled $293.0 million for this quarter, compared to net income of $128.1 million in the prior year quarter. Basic and diluted earnings per share for this quarter were $1.65, compared to basic and diluted earnings per share of $0.71 for the same period in 2024. Adjusted Net Trading Income increased 47.4% to $567.7 million for this quarter, compared to $385.1 million for the same period in 2024. Adjusted EBITDA increased 69.8% to $369.4 million for this quarter, compared to $217.5 million for the same period in 2024. Normalized Adjusted Net Income, removing one-time and non-cash items, increased 80.5% to $244.2 million for this quarter, compared to $135.3 million for the same period in 2024. Assuming all non-controlling interests had been exchanged for common stock, and the Company’s Normalized Adjusted Net Income before income taxes was subject to corporation taxes, Normalized Adjusted EPS was $1.53 for this quarter, compared to $0.83 for the same period in 2024. Operating Segment Information The Company has two operating segments: Market Making and Execution Services; and one non-operating segment: Corporate. Market Making principally consists of market making in the cash, futures and options markets across global equities, fixed income, currencies, cryptocurrencies, and commodities. As a market maker, the Company commits capital on a principal basis by offering to buy securities from, or sell securities to, broker dealers, banks and institutions. Execution Services comprises agency-based trading and trading venues, offering execution services in global equities, options, futures and fixed income on behalf of institutions, banks and broker dealers. The Company also provides proprietary technology and infrastructure, workflow technology, and trading analytics services to select third parties. The segment also includes the results of the Company's capital markets business, in which the Company acts as an agent for issuers in connection with at-the-market offerings and buyback programs. Corporate contains the Company's investments, principally in strategic trading-related opportunities, and maintains corporate overhead expenses. The following tables show the trading income, net, total revenues and Adjusted Net Trading Income by segment for the three and six months ended June 30, 2025 and 2024. Total revenues by segment(in thousands, unaudited) Three Months Ended June 30, 2025 Three Months Ended June 30, 2024 Market Making Execution Services Corporate Total Market Making Execution Services Corporate TotalTrading income, net $647,344 $5,452 $— $652,796 $420,074 $6,321 $— $426,395Commissions, net and technology services 14,414 139,445 — 153,859 9,281 116,820 — 126,101Interest and dividends income 125,893 2,513 — 128,406 104,311 2,755 — 107,066Other, net (1,058) 67,078 (1,508) 64,512 36,117 1,163 (3,857) 33,423Total Revenues $786,593 $214,488 $(1,508) $999,573 $569,783 $127,059 $(3,857) $692,985 Six Months Ended June 30, 2025 Six Months Ended June 30, 2024 Market Making Execution Services Corporate Total Market Making Execution Services Corporate TotalTrading income, net $1,229,966 $12,813 $— $1,242,779 $823,772 $10,718 $— $834,490Commissions, net and technology services 31,726 273,440 — 305,166 16,483 228,229 — 244,712Interest and dividends income 232,331 5,128 — 237,459 208,113 4,945 — 213,058Other, net (16,258) 64,115 4,181 52,038 42,423 955 186 43,564Total Revenues $1,477,765 $355,496 $4,181 $1,837,442 $1,090,791 $244,847 $186 $1,335,824 Reconciliation of trading income, net to Adjusted Net Trading Income by operating segment(in thousands, unaudited) Three Months Ended June 30, 2025 Three Months Ended June 30, 2024 Market Making Execution Services Corporate Total Market Making Execution Services Corporate TotalTrading income, net $647,344 $5,452 $— $652,796 $420,074 $6,321 $— $426,395 Commissions, net and technology services 14,414 139,445 — 153,859 9,281 116,820 — 126,101 Interest and dividends income 125,893 2,513 — 128,406 104,311 2,755 — 107,066 Brokerage, exchange, clearance fees and payments for order flow, net (172,311) (29,814) — (202,125) (125,972) (24,815) — (150,787)Interest and dividends expense (163,871) (1,342) — (165,213) (122,130) (1,563) — (123,693)Adjusted Net Trading Income $451,469 $116,254 $— $567,723 $285,564 $99,518 $— $385,082 Six Months Ended June 30, 2025 Six Months Ended June 30, 2024 Market Making Execution Services Corporate Total Market Making Execution Services Corporate TotalTrading income, net $1,229,966 $12,813 $— $1,242,779 $823,772 $10,718 $— $834,490 Commissions, net and technology services 31,726 273,440 — 305,166 16,483 228,229 — 244,712 Interest and dividends income 232,331 5,128 — 237,459 208,113 4,945 — 213,058 Brokerage, exchange, clearance fees and payments for order flow, net (366,614) (57,386) — (424,000) (241,838) (48,748) — (290,586)Interest and dividends expense (293,922) (2,619) — (296,541) (247,288) (2,433) — (249,721)Adjusted Net Trading Income $833,487 $231,376 $— $1,064,863 $559,242 $192,711 $— $751,953 Financial Condition As of June 30, 2025, Virtu had $789.8 million in cash, cash equivalents and restricted cash, and total long-term debt outstanding in an aggregate principal amount of $1,769.3 million. Share Repurchase Program Since inception of the program in November 2020 through settlement date July 28, 2025, the Company repurchased approximately 53.8 million shares of Class A Common Stock and Virtu Financial Units for approximately $1,417.2 million. The Company has approximately $302.8 million remaining capacity for future purchases of shares of Class A Common Stock and Virtu Financial Units under the program. Earnings Conference Call Information Virtu Financial will host a conference call to review its second quarter 2025 financial performance today, July 30th, at 8:00 a.m. ET. Members of the public may listen to the conference call through an audio webcast through the Investor Relations section of the firm’s website ir.virtu.com/investor-relations. Website Information We routinely post important information for investors on the Investor Relations section of our website, ir.virtu.com/investor-relations and also from time to time may use social media channels, including our X account (x.com/virtufinancial) and our LinkedIn account (linkedin.com/company/virtu-financial), as an additional means of disclosing public information to investors, the media and others interested in us. It is possible that certain information we post on our website and on social media could be deemed to be material information, and we encourage investors, the media and others interested in us to review the business and financial information we post on our website and on the social media channels identified above, in addition to following our press releases, SEC filings, public conference calls, presentations and webcasts. The information contained on, or that may be accessed through, our website and our social media channels is not incorporated by reference into, and is not a part of, this document. Non-GAAP Financial Measures and Other Items To supplement our unaudited condensed consolidated financial statements presented in accordance with generally accepted accounting principles ("GAAP"), we use the following non-GAAP measures of financial performance: “Adjusted Net Trading Income”, which is the amount of revenue we generate from our market making activities, or trading income, net, plus commissions, net and technology services, plus interest and dividends income and expense, net, less direct costs associated with those revenues, including brokerage, exchange, clearance fees and payments for order flow, net. Management believes that this measurement is useful for comparing general operating performance from period to period. Although we use Adjusted Net Trading Income as a financial measure to assess the performance of our business, the use of Adjusted Net Trading Income is limited because it does not include certain material costs that are necessary to operate our business. Our presentation of Adjusted Net Trading Income should not be construed as an indication that our future results will be unaffected by revenues or expenses that are not directly associated with our core business activities. “EBITDA”, which measures our operating performance by adjusting Net Income to exclude Financing interest expense on long-term borrowings, Debt issue cost related to debt refinancing, prepayment, and commitment fees, Depreciation and amortization, Amortization of purchased intangibles and acquired capitalized software, and Income tax expense, and “Adjusted EBITDA”, which measures our operating performance by further adjusting EBITDA to exclude severance, transaction advisory fees and expenses, termination of office leases, charges related to share-based compensation and other expenses, which includes reserves for legal matters, and Other, net, which includes gains and losses from strategic investments and the sales of businesses. “Normalized Adjusted Net Income”, “Normalized Adjusted Net Income before income taxes”, “Normalized provision for income taxes”, and “Normalized Adjusted EPS”, which we calculate by adjusting Net Income to exclude certain items, and other non-cash items, assuming that all vested and unvested Virtu Financial Units have been exchanged for Class A Common Stock, and applying an effective tax rate, which was approximately 24%. “Adjusted Operating Expenses”, which we calculate by adjusting total operating expenses to exclude severance, share based compensation, reserves for legal matters, termination of office leases, connectivity early termination and write-down of assets. Adjusted Net Trading Income, EBITDA, Adjusted EBITDA, Adjusted EBITDA Margin, Normalized Adjusted Net Income, Normalized Adjusted Net Income before income taxes, Normalized provision for income taxes, and Normalized Adjusted EPS and Adjusted Operating Expenses are non-GAAP financial measures used by management in evaluating operating performance and in making strategic decisions. Additional information provided regarding the breakdown of Total Adjusted Net Trading Income by category is also a non-GAAP financial measure but is not used by the Company in evaluating operating performance and in making strategic decisions. In addition, these non-GAAP financial measures or similar non-GAAP measures are used by research analysts, investment bankers and lenders to assess our operating performance. Management believes that the presentation of Adjusted Net Trading Income, EBITDA, Adjusted EBITDA, Adjusted EBITDA Margin, Normalized Adjusted Net Income, Normalized Adjusted Net Income before income taxes, Normalized provision for income taxes and Normalized Adjusted EPS provide useful information to investors regarding our results of operations because they assist both investors and management in analyzing and benchmarking the performance and value of our business. Adjusted Net Trading Income, EBITDA, Adjusted EBITDA, Adjusted EBITDA Margin, Normalized Adjusted Net Income, Normalized Adjusted Net Income before income taxes, Normalized provision for income taxes and Normalized Adjusted EPS provide indicators of general economic performance that are not affected by fluctuations in certain costs or other items. Accordingly, management believes that these measurements are useful for comparing general operating performance from period to period. Furthermore, our credit agreement contains tests based on metrics similar to Adjusted EBITDA. Other companies may define Adjusted Net Trading Income, Adjusted EBITDA, Adjusted EBITDA Margin, Normalized Adjusted Net Income, Normalized Adjusted Net Income before income taxes, Normalized provision for income taxes and Normalized Adjusted EPS differently, and as a result our measures of Adjusted Net Trading Income, Adjusted EBITDA, Adjusted EBITDA Margin, Normalized Adjusted Net Income, Normalized Adjusted Net Income before income taxes, Normalized provision for income taxes and Normalized Adjusted EPS may not be directly comparable to those of other companies. Although we use these non-GAAP financial measures as financial measures to assess the performance of our business, such use is limited because they do not include certain material costs necessary to operate our business. Adjusted Net Trading Income, EBITDA, Adjusted EBITDA, Normalized Adjusted Net Income before income taxes, Normalized provision for income taxes, Normalized Adjusted Net Income and Normalized Adjusted EPS should be considered in addition to, and not as a substitute for, Net Income in accordance with U.S. GAAP as a measure of performance. Our presentation of Adjusted Net Trading Income, EBITDA, Adjusted EBITDA, Adjusted EBITDA Margin, Normalized Adjusted Net Income, Normalized Adjusted Net Income before income taxes, Normalized provision for income taxes and Normalized Adjusted EPS should not be construed as an indication that our future results will be unaffected by unusual or nonrecurring items. Adjusted Net Trading Income, Normalized Adjusted Net Income, Normalized Adjusted Net Income before income taxes, Normalized provision for income taxes, Normalized Adjusted EPS and our EBITDA-based measures have limitations as analytical tools, and you should not consider them in isolation or as substitutes for analysis of our results as reported under U.S. GAAP. Some of these limitations are: they do not reflect every cash expenditure, future requirements for capital expenditures or contractual commitments;our EBITDA-based measures do not reflect the significant interest expense or the cash requirements necessary to service interest or principal payment on our debt;although depreciation and amortization are non-cash charges, the assets being depreciated and amortized will often have to be replaced or require improvements in the future, and our EBITDA-based measures do not reflect any cash requirement for such replacements or improvements;they are not adjusted for all non-cash income or expense items that are reflected in our statements of cash flows;they do not reflect the impact of earnings or charges resulting from matters we consider not to be indicative of our ongoing operations; andthey do not reflect limitations on our costs related to transferring earnings from our subsidiaries to us. Because of these limitations, Adjusted Net Trading Income, EBITDA, Adjusted EBITDA, Normalized Adjusted Net Income before income taxes, Normalized provision for income taxes, Normalized Adjusted Net Income and Normalized Adjusted EPS are not intended as alternatives to Net Income as indicators of our operating performance and should not be considered as measures of discretionary cash available to us to invest in the growth of our business or as measures of cash that will be available to us to meet our obligations. We compensate for these limitations by using Adjusted Net Trading Income, EBITDA, Adjusted EBITDA, Normalized Adjusted Net Income before income taxes, Normalized provision for income taxes, Normalized Adjusted Net Income and Normalized Adjusted EPS along with other comparative tools, together with U.S. GAAP measurements, to assist in the evaluation of operating performance. These U.S. GAAP measurements include Net Income, cash flows from operations and cash flow data. See below a reconciliation of each non-GAAP measure to the most directly comparable GAAP measure. Virtu Financial, Inc. and SubsidiariesCondensed Consolidated Statements of Comprehensive Income (Unaudited) Three Months EndedJune 30, Six Months EndedJune 30,(in thousands, except share and per share data) 2025 2024 2025 2024 Revenues: Trading income, net $652,796 $426,395 $1,242,779 $834,490 Interest and dividends income 128,406 107,066 237,459 213,058 Commissions, net and technology services 153,859 126,101 305,166 244,712 Other, net 64,512 33,423 52,038 43,564 Total revenues 999,573 692,985 1,837,442 1,335,824 Operating Expenses: Brokerage, exchange, clearance fees and payments for order flow, net 202,125 150,787 424,000 290,586 Communication and data processing 61,435 59,327 121,238 117,509 Employee compensation and payroll taxes 136,181 105,716 255,537 206,539 Interest and dividends expense 165,213 123,693 296,541 249,721 Operations and administrative 25,895 22,061 48,031 44,407 Depreciation and amortization 15,618 16,078 31,550 32,154 Amortization of purchased intangibles and acquired capitalized software 11,783 12,153 23,566 26,840 Termination of office leases 11 16 21 33 Debt issue cost related to debt refinancing, prepayment and commitment fees 1,682 24,279 3,363 25,973 Transaction advisory fees and expenses 59 60 397 195 Financing interest expense on long-term borrowings 32,551 23,430 62,442 46,662 Total operating expenses 652,553 537,600 1,266,686 1,040,619 Income before income taxes and noncontrolling interest 347,020 155,385 570,756 295,205 Provision for income taxes 54,044 27,268 88,145 55,780 Net income $292,976 $128,117 $482,611 $239,425 Noncontrolling interest (141,789) (61,531) (231,743) (117,022) Net income available for common stockholders $151,187 $66,586 $250,868 $122,403 Earnings per share: Basic $1.65 $0.71 $2.74 $1.30 Diluted $1.65 $0.71 $2.73 $1.30 Weighted average common shares outstanding Basic 85,490,121 88,137,799 85,585,040 88,568,461 Diluted 85,530,426 88,358,223 85,794,619 88,671,329 Comprehensive income: Net income $292,976 $128,117 $482,611 $239,425 Other comprehensive income Foreign exchange translation adjustment, net of taxes 12,539 436 17,279 (3,090)Net change in unrealized cash flow hedges gain (loss), net of taxes 1,098 (12,910) (1,012) (11,363)Comprehensive income $306,613 $115,643 $498,878 $224,972 Less: Comprehensive income attributable to noncontrolling interest (147,639) (56,252) (238,714) (110,907)Comprehensive income available for common stockholders $158,974 $59,391 $260,164 $114,065 Virtu Financial, Inc. and SubsidiariesReconciliation to Non-GAAP Operating Data (Unaudited) The following tables reconcile Condensed Consolidated Statements of Comprehensive Income to arrive at Adjusted Net Trading Income, EBITDA, Adjusted EBITDA, and selected Operating Margins. Three Months EndedJune 30, Six Months EndedJune 30,(in thousands, except percentages) 2025 2024 2025 2024 Reconciliation of Trading income, net to Adjusted Net Trading Income Trading income, net $652,796 $426,395 $1,242,779 $834,490 Commissions, net and technology services 153,859 126,101 305,166 244,712 Interest and dividends income 128,406 107,066 237,459 213,058 Brokerage, exchange, clearance fees and payments for order flow, net (202,125) (150,787) (424,000) (290,586)Interest and dividends expense (165,213) (123,693) (296,541) (249,721)Adjusted Net Trading Income $567,723 $385,082 $1,064,863 $751,953 Reconciliation of Net Income to EBITDA and Adjusted EBITDA Net income 292,976 128,117 482,611 239,425 Financing interest expense on long-term borrowings 32,551 23,430 62,442 46,662 Debt issue cost related to debt refinancing, prepayment and commitment fees 1,682 24,279 3,363 25,973 Depreciation and amortization 15,618 16,078 31,550 32,154 Amortization of purchased intangibles and acquired capitalized software 11,783 12,153 23,566 26,840 Provision for income taxes 54,044 27,268 88,145 55,780 EBITDA $408,654 $231,325 $691,677 $426,834 Severance 3,178 1,476 5,357 2,961 Transaction advisory fees and expenses 59 60 397 195 Termination of office leases 11 16 21 33 Gain on sale of RFQ-hub (66,988) — (66,988) — Other 1,964 (33,318) 14,465 (42,665)Share based compensation 22,571 17,963 44,459 32,996 Adjusted EBITDA $369,449 $217,522 $689,388 $420,354 Selected Operating Margins GAAP Net income Margin (1) 29.3% 18.5% 26.3% 17.9%Non-GAAP Net income Margin (2) 51.6% 33.3% 45.3% 31.8%EBITDA Margin (3) 72.0% 60.1% 65.0% 56.8%Adjusted EBITDA Margin (4) 65.1% 56.5% 64.7% 55.9% 1 Calculated by dividing Net income by Total revenue. 2 Calculated by dividing Net income by Adjusted Net Trading Income. 3 Calculated by dividing EBITDA by Adjusted Net Trading Income. 4 Calculated by dividing Adjusted EBITDA by Adjusted Net Trading Income. Virtu Financial, Inc. and SubsidiariesReconciliation to Non-GAAP Operating Data (Unaudited) (Continued) The following tables reconcile Condensed Consolidated Statements of Comprehensive Income to arrive at Normalized Adjusted Net Income before income taxes, Normalized provision for income taxes, Normalized Adjusted Net Income and Normalized Adjusted EPS. Three Months EndedJune 30, Six Months EndedJune 30,(in thousands, except share and per share data) 2025 2024 2025 2024 Reconciliation of Net Income to Normalized Adjusted Net Income Net income $292,976 $128,117 $482,611 $239,425 Provision for income taxes 54,044 27,268 88,145 55,780 Income before income taxes and noncontrolling interest $347,020 $155,385 $570,756 $295,205 Amortization of purchased intangibles and acquired capitalized software 11,783 12,153 23,566 26,840 Debt issue cost related to debt refinancing, prepayment and commitment fees 1,682 24,279 3,363 25,973 Severance 3,178 1,476 5,357 2,961 Transaction advisory fees and expenses 59 60 397 195 Termination of office leases 11 16 21 33 Gain on sale of RFQ-hub (66,988) — (66,988) — Other 1,964 (33,318) 14,465 (42,665)Share based compensation 22,571 17,963 44,459 32,996 Normalized Adjusted Net Income before income taxes $321,280 $178,014 $595,396 $341,538 Normalized provision for income taxes (1) 77,107 42,723 142,894 81,969 Normalized Adjusted Net Income $244,173 $135,291 $452,502 $259,569 Weighted Average Adjusted shares outstanding (2) 159,952,792 162,305,397 160,133,364 162,566,398 Normalized Adjusted EPS $1.53 $0.83 $2.83 $1.60 (1) Reflects U.S. federal, state, and local income tax rate applicable to corporations of approximately 24% for all periods presented.(2) Assumes that (1) holders of all vested and unvested non-vesting Virtu Financial Units (together with corresponding shares of the Company's Class C common stock, par value $0.00001 per share (the “Class C Common Stock”)) have exercised their right to exchange such Virtu Financial Units for shares of Class A Common Stock on a one-for-one basis, (2) holders of all Virtu Financial Units (together with corresponding shares of the Company's Class D common stock, par value $0.00001 per share (the “Class D Common Stock”)) have exercised their right to exchange such Virtu Financial Units for shares of the Company's Class B common stock, par value $0.00001 per share (the “Class B Common Stock”) on a one-for-one basis, and subsequently exercised their right to convert the shares of Class B Common Stock into shares of Class A Common Stock on a one-for-one basis. Includes additional shares from the dilutive impact of options, restricted stock units and restricted stock awards outstanding under the Second Amended and Restated 2015 Management Incentive Plan during the three and six months ended June 30, 2025 and 2024. Virtu Financial, Inc. and SubsidiariesCondensed Consolidated Statements of Financial Condition (Unaudited) (in thousands, except share data) June 30, 2025 December 31, 2024 Assets Cash and cash equivalents $752,101 $872,513 Cash and securities segregated under regulations and other 37,706 41,478 Securities borrowed 2,654,360 2,294,529 Securities purchased under agreements to resell 1,084,322 983,941 Receivables from broker-dealers and clearing organizations 1,335,968 1,100,850 Receivables from customers 360,373 149,804 Trading assets, at fair value 10,928,773 7,802,652 Property, equipment and capitalized software, net 92,482 91,415 Operating lease right-of-use assets 156,511 175,046 Goodwill 1,148,926 1,148,926 Intangibles (net of accumulated amortization) 178,497 203,188 Deferred taxes 118,058 135,046 Assets of business held for sale — 4,615 Other assets 436,412 357,740 Total assets 19,284,489 15,361,743 Liabilities and equity Liabilities Short-term borrowings, net 251,754 38,541 Securities loaned 3,118,350 2,431,878 Securities sold under agreements to repurchase 1,907,126 1,271,788 Payables to broker-dealers and clearing organizations 1,233,988 918,566 Payables to customers 50,470 46,112 Trading liabilities, at fair value 8,423,628 6,440,971 Tax receivable agreement obligations 175,819 196,592 Accounts payable and accrued expenses and other liabilities 539,197 558,100 Operating lease liabilities 207,645 229,825 Long-term borrowings, net 1,743,171 1,740,467 Liabilities of business held for sale — 1,526 Total liabilities 17,651,148 13,874,366 Total equity 1,633,341 1,487,377 Total liabilities and equity $19,284,489 $15,361,743 As of June 30, 2025Ownership of Virtu Financial LLC Interests: Interests %Virtu Financial, Inc. - Class A Common Stock and Restricted Stock Units 90,909,583 57.1%Non-controlling Interests (Virtu Financial LLC) 68,286,587 42.9%Total Virtu Financial LLC Interests 159,196,170 100.0% About Virtu Financial, Inc. Virtu is a leading provider of financial services and products that leverages cutting-edge technology to deliver liquidity to the global markets and innovative, transparent trading solutions to its clients. Leveraging its global market making expertise and infrastructure, Virtu provides a robust product suite including offerings in execution, liquidity sourcing, analytics and broker-neutral, multi-dealer platforms in workflow technology. Virtu’s product offerings allow clients to trade on hundreds of venues across 50+ countries and in multiple asset classes, including global equities, ETFs, foreign exchange, futures, fixed income and myriad other commodities. In addition, Virtu’s integrated, multi-asset analytics platform provides a range of pre-, intra- and post-trade services, data products and compliance tools that clients rely upon to invest, trade and manage risk across global markets. Cautionary Note Regarding Forward-Looking Statements This press release may contain “forward-looking statements” made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Statements regarding Virtu Financial, Inc.’s (“Virtu’s”, the “Company’s” or “our”) business that are not historical facts are forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by which, such performance or results will be achieved. The Company assumes no obligation to update forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting forward-looking information, and if the Company does update one or more forward-looking statements, no inference should be drawn that the Company will make additional updates with respect thereto or with respect to other forward-looking statements. Forward-looking statements are based on information available at the time and/or management’s good faith belief with respect to future events, and is subject to risks and uncertainties, some or all of which are not predictable or within Virtu’s control, that could cause actual performance or results to differ materially from those expressed in the statements. Those risks and uncertainties include, without limitation: fluctuations in trading volume and volatilities in the markets in which we operate; the ability of our trading counterparties, clients, and various clearing houses to perform their obligations to us; the performance and reliability of our customized trading platform; the risk of material trading losses from our market making activities; swings in valuations in securities or other instruments in which we hold positions; increasing competition and consolidation in our industry; the risk that cash flow from our operations and other available sources of liquidity will not be sufficient to fund our various ongoing obligations, including operating expenses, short-term funding requirements, margin requirements, capital expenditures, debt service and dividend payments; regulatory and legal uncertainties and other potential changes associated with our industry, particularly in light of increased attention from media, regulators and lawmakers to market structure and related issues including but not limited to the retail trading environment, wholesale market making and off exchange trading more generally and payment for order flow arrangements; potential adverse results from legal or regulatory proceedings; our ability to remain technologically competitive and to ensure that the technology we utilize is not vulnerable to security risks, hacking and cyber-attacks; risks associated with third party software and technology infrastructure. For a discussion of the risks and uncertainties which could cause actual results to differ from those contained in forward-looking statements, see Virtu’s Securities and Exchange Commission filings, including but not limited to Virtu’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K filed with the SEC. CONTACT Investor & Media RelationsAndrew Smithinvestor_relations@virtu.commedia@virtu.com

Virtu Announces Second Quarter 2025 Results

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