VCTR FY 2018 Earnings Report — Victory Capital Holdings, Inc. Revenue & Financial Results | Market Cap Arena

Victory Capital Holdings, Inc.VCTR

FY 2018 Earnings

Reported March 15, 2019

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2018	Prior Q	FY 2017	QoQ Change	YoY Change
Revenue	$413M	—	$410M	—	0.9%
Op. Income	$115M	—	$90M	—	27.0%
Gross Margin	41.8%	—	39.6%	—	2.2pp
Net Margin	15.4%	—	6.3%	—	9.1pp
EPS (Diluted)	$0.90	—	$0.47	—	91.5%
Free Cash Flow	$132M	—	$91M	—	44.7%

Revenue Flow

Item	Amount
REVENUE	$413M
Cost of Revenue	$241M
GROSS PROFIT	$173M
R&D Expenses	$0
Selling & Marketing	$95M
General & Administrative	$30M
SG&A Expenses	$30M
Other Expenses	$28M
Operating Expenses	$58M
Cost & Expenses	$299M
OPERATING INCOME	$115M
Interest Income	$0
Interest Expense	$21M
Other Income/Expenses	-$30M
INCOME BEFORE TAX	$85M
Income Tax Expense	$21M
Net Income from Continuing Ops	$64M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$64M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$64M
D&A	$23M
EBIT	$106M
EBITDA	$130M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$413M
Cost of Revenue	$241M
GROSS PROFIT	$173M
R&D Expenses	$0
Selling & Marketing	$95M
General & Administrative	$30M
SG&A Expenses	$30M
Other Expenses	$28M
Operating Expenses	$58M
Cost & Expenses	$299M
OPERATING INCOME	$115M
Interest Income	$0
Interest Expense	$21M
Other Income/Expenses	-$30M
INCOME BEFORE TAX	$85M
Income Tax Expense	$21M
Net Income from Continuing Ops	$64M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$64M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$64M
D&A	$23M
EBIT	$106M
EBITDA	$130M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$64M
Depreciation & Amortization	$23M
Stock-Based Compensation	$17M
Deferred Income Tax	$4M
Other Non-Cash Items	$13M
Change in Working Capital	$12M
OPERATING CASH FLOW	$134M
Capital Expenditure	-$3M
Acquisitions (Net)	-$4M
Purchases of Investments	-$8M
Sales/Maturities of Investments	$3M
Other Investing Activities	$0
NET CASH FROM INVESTING	-$12M
Net Debt Issuance	-$221M
Common Stock Repurchased	-$8M
Common Dividends Paid	-$831.0K
Other Financing Activities	-$10M
NET CASH FROM FINANCING	-$84M
FREE CASH FLOW	$132M
Net Change in Cash	$39M

Balance Sheet

Item	Amount
Cash & Equivalents	$51M
Short-Term Investments	$601.0K
Net Receivables	$44M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$99M
PP&E (Net)	$9M
Goodwill	$284M
Intangible Assets	$388M
Long-Term Investments	$13M
Tax Assets	$840M
Other Non-Current Assets	-$830M
TOTAL NON-CURRENT ASSETS	$703M
TOTAL ASSETS	$802M
Account Payables	$607.0K
Short-Term Debt	$0
Deferred Revenue	-$269M
Other Current Liabilities	-$26M
TOTAL CURRENT LIABILITIES	$26M
Long-Term Debt	$269M
Deferred Revenue NC	-$274M
Deferred Tax Liabilities	$6M
Other Non-Current Liabilities	$70M
TOTAL NON-CURRENT LIABILITIES	$320M
TOTAL LIABILITIES	$346M
Common Stock	$706.0K
Additional Paid-In Capital	$604M
Retained Earnings	-$120M
Treasury Stock	-$30M
Accum. Other Comp. Income	-$86.0K
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$456M
Minority Interest	$217M
TOTAL EQUITY	$673M
TOTAL LIABILITIES & EQUITY	$802M
Total Debt	$269M
Net Debt	$217M