VIRT FY 2022 Earnings Report — Virtu Financial, Inc. Revenue & Financial Results | Market Cap Arena

Virtu Financial, Inc.VIRT

FY 2022 Earnings

Reported February 17, 2023

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2022	Prior Q	FY 2021	QoQ Change	YoY Change
Revenue	$2.4B	—	$2.8B	—	-15.9%
Op. Income	$918M	—	$1.3B	—	-26.7%
Gross Margin	57.3%	—	60.1%	—	-2.8pp
Net Margin	11.2%	—	17.0%	—	-5.8pp
EPS (Diluted)	$2.44	—	$3.91	—	-37.6%
Free Cash Flow	$680M	—	$1.1B	—	-40.8%

Revenue Flow

Item	Amount
REVENUE	$2.4B
Cost of Revenue	$1.0B
GROSS PROFIT	$1.4B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$220M
SG&A Expenses	$220M
Other Expenses	$217M
Operating Expenses	$437M
Cost & Expenses	$1.4B
OPERATING INCOME	$918M
Interest Income	$0
Interest Expense	$323M
Other Income/Expenses	-$361M
INCOME BEFORE TAX	$557M
Income Tax Expense	$88M
Net Income from Continuing Ops	$468M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$265M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$255M
D&A	$131M
EBIT	$880M
EBITDA	$1.0B
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$2.4B
Cost of Revenue	$1.0B
GROSS PROFIT	$1.4B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$220M
SG&A Expenses	$220M
Other Expenses	$217M
Operating Expenses	$437M
Cost & Expenses	$1.4B
OPERATING INCOME	$918M
Interest Income	$0
Interest Expense	$323M
Other Income/Expenses	-$361M
INCOME BEFORE TAX	$557M
Income Tax Expense	$88M
Net Income from Continuing Ops	$468M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$265M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$255M
D&A	$131M
EBIT	$880M
EBITDA	$1.0B
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$265M
Depreciation & Amortization	$131M
Stock-Based Compensation	$67M
Deferred Income Tax	$0
Other Non-Cash Items	-$416M
Change in Working Capital	$659M
OPERATING CASH FLOW	$707M
Capital Expenditure	-$27M
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	-$2M
NET CASH FROM INVESTING	-$30M
Net Debt Issuance	$141M
Common Stock Repurchased	-$489M
Common Dividends Paid	-$375M
Other Financing Activities	-$13M
NET CASH FROM FINANCING	-$736M
FREE CASH FLOW	$680M
Net Change in Cash	-$83M

Balance Sheet

Item	Amount
Cash & Equivalents	$982M
Short-Term Investments	$0
Net Receivables	$1.2B
Inventory	$0
Other Current Assets	$57M
TOTAL CURRENT ASSETS	$2.2B
PP&E (Net)	$273M
Goodwill	$1.1B
Intangible Assets	$321M
Long-Term Investments	$6.2B
Tax Assets	$147M
Other Non-Current Assets	$304M
TOTAL NON-CURRENT ASSETS	$8.3B
TOTAL ASSETS	$10.6B
Account Payables	$769M
Short-Term Debt	$4M
Deferred Revenue	$0
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$1.0B
Long-Term Debt	$3.5B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$343.0K
Other Non-Current Liabilities	$4.2B
TOTAL NON-CURRENT LIABILITIES	$7.9B
TOTAL LIABILITIES	$8.9B
Common Stock	$2.0K
Additional Paid-In Capital	$1.3B
Retained Earnings	$972M
Treasury Stock	-$955M
Accum. Other Comp. Income	$32M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.3B
Minority Interest	$310M
TOTAL EQUITY	$1.7B
TOTAL LIABILITIES & EQUITY	$10.6B
Total Debt	$3.7B
Net Debt	$2.7B