Jun 2026 (Q2 FY26) — Jul 30, 2026
Virtu Financial Q2 FY26 — Record Trailing 12-Month Performance and Capital Growth
Read the full callVirtu Financial (VIRT) earnings
- Jun 2026
- Jun 2026 (Q2 FY26)
- Dec 2025
Virtu Financial earnings: last reported Thu, 30 Jul 2026, for the quarter ended Jun 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 1,190 | +19.0% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | Operating profit / revenue | Quarter to Jun 2026 | Not in the filed figures for the quarter to jun 2026. No older figure is substituted. | ||
| Net profit | 151 | −0.2% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
Guidance
What management said, and what became of it
1 of 1 judged target kept · 4 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Virtu Execution Services (VES) adjusted net trading income run rate | $2 million per day, through the cycle | Mar 2025 | VES kind of reaching a level that's been consistently above $2 million a day for 3 quarters in a row is something we don't talk about a lot, but that consistency has been a contributing factor, and that's a very good business that's coming into its own. | Achieved |
| Full-year 2026 headcount | close to 1,100 | Mar 2026 | We don't have like a headcount target in mind. And at this point, it's really more just we're kind of hiring as fast as we can in all key areas like quants, researchers, traders and especially engineers, developers. | Diluted |
| Cash compensation ratio | low to mid-20s percent | Jun 2026 | we've guided to low to mid-20s compensation ratio on a cash basis, which I think for a business like ours is market and very reasonable. | New |
4 of Virtu Financial, Inc.'s 5 targets are still open. See which are on track and which have gone quiet. The 3 above are the free sample; 2 more targets are in the full ledger.
Claimed
- Total trading capital increased to $3.4 billion, up from $2 billion a year ago.
- Adjusted Net Trading Income (ANT) was $11.6 million per day, totaling $718 million for the quarter.
- Adjusted EBITDA reached $437 million, representing a 61% margin.
- Adjusted EPS was $1.82 for the quarter.
- Trailing 12-month ANT per day of $10.4 million, adjusted EBITDA of $1.7 billion, and adjusted EPS of $6.96, all representing all-time highs.
Qualified
- The year-to-date cash compensation ratio increased to 23%, up from closer to 20% year-over-year, though still within management's guided range.
Price
$56.51 −0.58% · −$0.33
Performance +70.1% 1Y
1Y: $33.23 on 17 Oct 2025 → $56.51. High $67.93 (21 Aug 2026), low $32.53 (8 Jan 2026).
- Previous close
- $56.84
- 52-week range
- $32.53 – $67.93
- One year
- +71.24%
Overview
- Symbol
- VIRT
- Sector
- Financials
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
1 of 1 judged target kept · 4 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Virtu Execution Services (VES) adjusted net trading income run rate | $2 million per day, through the cycle | Mar 2025 | VES kind of reaching a level that's been consistently above $2 million a day for 3 quarters in a row is something we don't talk about a lot, but that consistency has been a contributing factor, and that's a very good business that's coming into its own. | Achieved |
| Full-year 2026 headcount | close to 1,100 | Mar 2026 | We don't have like a headcount target in mind. And at this point, it's really more just we're kind of hiring as fast as we can in all key areas like quants, researchers, traders and especially engineers, developers. | Diluted |
| Cash compensation ratio | low to mid-20s percent | Jun 2026 | we've guided to low to mid-20s compensation ratio on a cash basis, which I think for a business like ours is market and very reasonable. | New |
Claimed
- Total trading capital increased to $3.4 billion, up from $2 billion a year ago.
- Adjusted Net Trading Income (ANT) was $11.6 million per day, totaling $718 million for the quarter.
- Adjusted EBITDA reached $437 million, representing a 61% margin.
- Adjusted EPS was $1.82 for the quarter.
- Trailing 12-month ANT per day of $10.4 million, adjusted EBITDA of $1.7 billion, and adjusted EPS of $6.96, all representing all-time highs.
Qualified
- The year-to-date cash compensation ratio increased to 23%, up from closer to 20% year-over-year, though still within management's guided range.
The full ledger
Open Virtu Financial, Inc.’s full ledger
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Call summaries
Mar 2026 (Q1 FY26) — Apr 29, 2026
Virtu Financial Q1 FY26 — Record Adjusted Net Trading Income and EPS
Read the full callEvery analysed call
Virtu Financial earnings calls (VIRT)
Financials
What the filings say
Net profit, year on year: 0% (quarter to jun 2026 against jun 2025).
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 707 | 834 | 838 | 1,000 | 825 | 970 | 1,095 | 1,190 |
| Profit before tax | 147 | 203 | 224 | 347 | 180 | 344 | 410 | 343 |
| Tax rate | 19.1% | 13.1% | 15.2% | 15.6% | 17.2% | 18.3% | 15.4% | 16.8% |
| Net profit | 60 | 94 | 100 | 151 | 78 | 140 | 182 | 151 |
| EPS ($ per share) | 0.65 | — | 1.09 | 1.65 | 0.86 | — | 1.99 | 1.63 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Reserves | 97 | -90 | 422 | 831 | 972 | 1,000 | 1,169 | 1,519 |
| Total liabilities | 5,886 | 8,380 | 8,111 | 8,456 | 8,932 | 13,061 | 13,874 | 18,177 |
| Fixed assets | 113 | 116 | 114 | 90 | 85 | 100 | 91 | 96 |
| Total assets | 7,381 | 9,609 | 9,966 | 10,320 | 10,583 | 14,466 | 15,362 | 20,151 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 715 | 169 | 1,061 | 1,172 | 707 | 492 | 599 | 518 |
| Cash from investing | 329 | -900 | -3 | -87 | -30 | -94 | -62 | -41 |
| Cash from financing | -835 | 770 | -840 | -958 | -736 | -585 | -470 | -281 |
| Net cash flow | 203 | 37 | 234 | 114 | -83 | -183 | 59 | 212 |
| Capital expenditure | -26 | -9 | -29 | -25 | -27 | -38 | -12 | -23 |
| Free cash flow | 688 | 159 | 1,032 | 1,147 | 680 | 454 | 587 | 496 |
VIRT revenue by segment
Market Making grew from 82% to 85% of revenue over the last two years.
| Segment | Q3 FY2024 | Q4 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Market Making | 82% | 85% | 11% | 79% | 81% | 89% | 84% | 85% | +28.3% |
| Execution Services | 18% | 16% | 89% | 21% | 19% | 10% | 17% | 15% | -19.1% |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
Revenue by region
Q2 FY2026 · share of revenue
- US 79% ↓ 3 pt
- IE 11% ↑ 2 pt
- Other Countries 10% ↑ 1 pt
As VIRT cuts its regions in its filings; they can nest, so they need not add to 100%.
Insider filings
88 filings between Jan 31, 2026 and Aug 20, 2026.
Open market
decisions to buy or sellPurchases
None
No insider bought shares.
Sales
$14.88M
15 sales by 6 insiders
Compensation
not trading decisions- 9
- Award — granted as compensation
- 29
- Option exercise — converted options into shares
- 30
- Tax withheld — shares kept back by the company to cover tax
Also filed: 4 dispositions to the issuer, 1 gift.
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| Molluso Joseph | — | $7.78M | Feb 19, 2026 |
| Cavoli Stephen | — | $3.83M | Feb 17, 2026 |
| Fairclough Brett | — | $1.50M | May 8, 2026 |
| Gambale Virginia | — | $711.1K | Aug 18, 2026 |
| Nixon John | — | $546.8K | Aug 17, 2026 |
| GRANO JOSEPH J JR | — | $511.9K | Aug 19, 2026 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Aug 20, 2026 | Virtu Employee Holdco LLC Director | Disposition to issuer | 200,000 | — |
| Aug 19, 2026 | GRANO JOSEPH J JR Director | Sale | 8,400 | $511.9K |
| Aug 19, 2026 | Nixon John Director | Gift | 1,312 | $78.7K |
| Aug 18, 2026 | Gambale Virginia Director | Sale | 6,460 | $400.5K |
| Aug 17, 2026 | Nixon John Director | Sale | 9,094 | $546.8K |
| Aug 3, 2026 | Virtu Employee Holdco LLC Director | Disposition to issuer | 210,440 | — |
| Aug 1, 2026 | Lee Cindy Chief Financial Officer | Tax withheld | 6,452 | — |
| Aug 1, 2026 | Lee Cindy Chief Financial Officer | Option exercise | 11,667 | — |
| Jul 1, 2026 | Quick Christopher C Director | Option exercise | 3,392 | — |
| Jul 1, 2026 | Urban David Director | Option exercise | 3,392 | — |
| Jul 1, 2026 | Cruger William Frank Jr. Director | Option exercise | 3,392 | — |
| Jul 1, 2026 | Minieri Joanne Director | Option exercise | 3,392 | — |
| Jul 1, 2026 | Molluso Joseph Co-President & Co-COO | Tax withheld | 3,988 | — |
| Jul 1, 2026 | GRANO JOSEPH J JR Director | Option exercise | 3,392 | — |
| Jul 1, 2026 | Viola Michael T Director | Option exercise | 3,392 | — |
| Jul 1, 2026 | Molluso Joseph Co-President & Co-COO | Option exercise | 7,531 | — |
| Jul 1, 2026 | Gambale Virginia Director | Option exercise | 3,392 | — |
| Jul 1, 2026 | Nixon John Director | Option exercise | 3,392 | — |
| May 20, 2026 | Virtu Employee Holdco LLC Director | Disposition to issuer | 20,000 | — |
| May 8, 2026 | Fairclough Brett Co-President & Co-COO | Sale | 15,368 | $772.9K |
| May 8, 2026 | Fairclough Brett Co-President & Co-COO | Sale | 14,632 | $729.0K |
| May 5, 2026 | Gambale Virginia Director | Sale | 4,000 | $200.0K |
| May 1, 2026 | Virtu Employee Holdco LLC Director | Disposition to issuer | 135,360 | — |
| Feb 19, 2026 | Molluso Joseph Co-President & Co-COO | Sale | 200,000 | $7.78M |
| Feb 17, 2026 | Cavoli Stephen EVP | Sale | 28,370 | $1.10M |
| Feb 13, 2026 | Cavoli Stephen EVP | Sale | 14,530 | $555.5K |
| Feb 13, 2026 | Cavoli Stephen EVP | Sale | 15,470 | $595.1K |
| Feb 12, 2026 | Cavoli Stephen EVP | Sale | 15,097 | $570.9K |
| Feb 12, 2026 | Cavoli Stephen EVP | Sale | 14,903 | $557.5K |
| Feb 11, 2026 | Cavoli Stephen EVP | Sale | 7,057 | $270.6K |
| Feb 11, 2026 | Cavoli Stephen EVP | Sale | 4,573 | $179.0K |
| Feb 5, 2026 | Gambale Virginia Director | Sale | 2,950 | $110.6K |
| Feb 4, 2026 | Lee Cindy Chief Financial Officer | Option exercise | 1,172 | — |
| Feb 4, 2026 | Lee Cindy Chief Financial Officer | Tax withheld | 6,274 | — |
| Feb 4, 2026 | Lee Cindy Chief Financial Officer | Award | 5,523 | — |
| Feb 4, 2026 | Lee Cindy Chief Financial Officer | Option exercise | 12,500 | — |
| Feb 4, 2026 | Lee Cindy Chief Financial Officer | Tax withheld | 589 | — |
| Feb 4, 2026 | Lee Cindy Chief Financial Officer | Tax withheld | 2,772 | — |
| Feb 4, 2026 | Cavoli Stephen EVP | Tax withheld | 7,690 | — |
| Feb 4, 2026 | Fairclough Brett Co-President & Co-COO | Tax withheld | 5,947 | — |
| Feb 4, 2026 | Simons Aaron Wyatt Chief Executive Officer | Option exercise | 7,531 | — |
| Feb 4, 2026 | Cavoli Stephen EVP | Tax withheld | 3,845 | — |
| Feb 4, 2026 | Cavoli Stephen EVP | Option exercise | 7,531 | — |
| Feb 4, 2026 | Fairclough Brett Co-President & Co-COO | Option exercise | 7,531 | — |
| Feb 4, 2026 | Molluso Joseph Co-President & Co-COO | Tax withheld | 8,330 | — |
| Feb 4, 2026 | Cavoli Stephen EVP | Award | 15,062 | — |
| Feb 4, 2026 | Molluso Joseph Co-President & Co-COO | Award | 15,062 | — |
| Feb 4, 2026 | Fairclough Brett Co-President & Co-COO | Tax withheld | 2,974 | — |
| Feb 4, 2026 | Fairclough Brett Co-President & Co-COO | Award | 15,062 | — |
| Feb 4, 2026 | Simons Aaron Wyatt Chief Executive Officer | Tax withheld | 2,983 | — |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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