Victory Capital Reports Strong Fourth Quarter and Full-Year 2022 Results

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

[{"type":"text","content":"\nFourth-Quarter 2022 Highlights\n\n\nTotal Assets Under Management (AUM) of $153.0 billion1\n\n\nLong-term gross flows of $6.5 billion in the quarter; $33.3 billion for the full year\n\n\nLong-term net flows of -$4.4 billion in the quarter; and -$2.5 billion for the full year\n\n\nGAAP operating margin of 39.5%\n\n\nAdjusted EBITDA margin of 49.7% in the quarter; and 49.6% for the full year2\n\n\nGAAP net income of $0.74 per diluted share\n\n\nAdjusted net income with tax benefit of $1.05 per diluted share2\n\n\nBoard increased regular quarterly cash dividend 28% to $0.32\n\n\n SAN ANTONIO--(BUSINESS WIRE)--\nVictory Capital Holdings, Inc. (NASDAQ: VCTR) (“Victory Capital” or “the Company”) today reported financial results for the quarter and year ended December 31, 2022.\n\n“We achieved exceptionally strong results in 2022 in the face of historically challenging market conditions,” said David Brown, Chairman and Chief Executive Officer. “We generated record high GAAP operating income and earnings per diluted share for the year, exceeding prior records set in 2021. Moreover, our full year 2022 adjusted EBITDA margin remained healthy at 49.6% marking the second highest annual level ever achieved. These results exemplify superb execution and focus by our team.\n\n“Our investment professionals continued to deliver excellent investment performance for clients. At year end, the percentage of our AUM outperforming benchmarks over the respective 3-, 5-, and 10-year periods was 84%, 79%, and 79%. In addition, the mutual funds and ETFs rated four- or five-stars overall represented 62% of our Fund AUM.\n\n“We returned more capital to shareholders in 2022 than in any year since we have been a public company. Through the repurchase of 4.6 million shares and $69 million in cash dividends, we returned more than $200 million of capital to our shareholders during the year. Additionally, we reduced debt by $150 million during the year to maintain flexibility to pursue inorganic growth opportunities.\n\n“As always, we continue to focus on serving our clients, which is our top priority.”\n\nThe table below presents AUM, and certain GAAP and non-GAAP (“adjusted”) financial results. Due to rounding, AUM values and other amounts in this press release may not add up precisely to the totals provided.\n\n\n\n1 Total AUM includes both discretionary and ...

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