Victory Capital Reports Record Fourth-Quarter 2021 Financial Results

About this update from Victory Capital Holdings, Inc. Class A Common Stock

[{"type":"text","content":"\nFourth Quarter 2021 Highlights\n\n\nTotal Assets Under Management (AUM) of $183.7 billion1\n\n\nLong-term gross flows of $5.5 billion\n\n\nLong-term net outflows of $3.4 billion\n\n\nGAAP operating margin of 39.2%\n\n\nAdjusted EBITDA margin of 50.2%2\n\n\nGAAP net income of $0.94 per diluted share\n\n\nAdjusted net income with tax benefit of $1.27 per diluted share2\n\n\nBoard authorizes 47% increase in regular quarterly cash dividend\n\n\n SAN ANTONIO--(BUSINESS WIRE)--\nVictory Capital Holdings, Inc. (NASDAQ: VCTR) (“Victory Capital” or “the Company”) today reported record financial results for the quarter and full-year ended December 31, 2021.\n\n“We ended 2021 with the closing of our third strategic acquisition of the year—WestEnd Advisors,” said David Brown, Chairman and Chief Executive Officer. “This acquisition positions us as a leader in the fast-growing model portfolio segment of the market, which is benefiting from multiple long-term industry tailwinds.\n\n“Earlier in the quarter, we launched our alternative investment platform with the closing of our New Energy Capital acquisition. This strategic acquisition provides us with a new growth vertical in private markets and enhances our ESG and impact investing capabilities. Similarly, our first-quarter acquisition of THB Asset Management (“THB”) also expanded our responsible investing products.\n\n“We achieved record revenue and earnings for both the fourth quarter and full-year periods. Revenue in 2021 increased 15% from the prior year and adjusted earnings with tax benefit per diluted share rose 25%. Consistent profitable growth and strong profit margins are a testament to the benefits of our business model, which combines high-quality autonomous Investment Franchises with an efficient shared operating and distribution platform.\n\n“Investment performance also remained excellent during the fourth quarter and full year. A majority of our strategies outperformed their benchmarks over the 1-, 3-, 5-, and 10-year periods, through year-end 2021.\n\n\n \n\n\n\n1 Total AUM includes both discretionary and non-discretionary client assets.\n\n\n\n\n\n2 The Company reports its financial results in accordance with generally accepted accounting principles (“GAAP”). Adjusted EBITDA and Adjusted Net Income are not defined by GAAP and should not be regarded as an alternative to any ...

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