Virtu Financial, Inc. (NASDAQ:VIRT), a 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 first quarter ended March 31, 2025.
Total revenues increased 30.3% to $837.9 million for the first quarter of 2025, compared to $642.8 million for the same period in 2024.
Trading income, net, increased 44.6% to $590.0 million for the first quarter of 2025 compared to $408.1 million for the same period in 2024. Net income totaled $189.6 million for this quarter, compared to net income of $111.3 million in the prior year quarter.
Basic and diluted earnings per share for this quarter were $1.09 and $1.08, respectively, compared to basic and diluted earnings per share of $0.59 for the same period in 2024.
Adjusted Net Trading Income increased 35.5% to $497.1 million for this quarter, compared to $366.9 million for the same period in 2024. Adjusted EBITDA increased 57.7% to $319.9 million for this quarter, compared to $202.8 million for the same period in 2024. Normalized Adjusted Net Income, removing one-time and non-cash items, increased 67.6% to $208.3 million for this quarter, compared to $124.3 million for the same period in 2024.
The Virtu Financial, Inc. Board of Directors declared a quarterly cash dividend of $0.24 per share. This dividend is payable on June 16, 2025 to shareholders of record as of May 30, 2025.
As of March 31, 2025, Virtu had $771.0 million in cash, cash equivalents and restricted cash, and total long-term debt outstanding in an aggregate principal amount of $1,768.3 million.
Since inception of the share repurchase program in November 2020 through settlement date April 17, 2025, Virtu repurchased approximately 52.1 million shares of Class A Common Stock and Virtu Financial Units for approximately $1,346.2 million. The company has approximately $373.8 million remaining capacity for future purchases of shares of Class A Common Stock and Virtu Financial Units under the program.
