Virtu Financial, Inc. · NYSE:VIRT
Virtu Financial — Q1 2026 Earnings Presentation
19 slides from Virtu Financial's earnings presentation, Apr 29, 2026
Slide 1: First Quarter 2026 Earnings Supplement
Presentation Title in First Quarter 2026 Title Case Earnings Supplement Presentation subtitle in sentence case Presenter Name Event name xx Month 201x © 201X Virtu Financial. All rights reserved. Not to be reproduced or retransmitted without permission. Compliance #XXXX-XXXX © 2025 Virtu Financial.
Slide 2: Performance Highlights
Performance Highlights 1Q 2026 Key Financials Summary Recent Results Adj. Net Trading Income / Day1 Normalized $12.9M Adj. NTI1 Adj. NTI/day1 Adj. EPS1 $9.2M $9.7M $2.5M $8.3M $7.4M $787M $12.9M $2.24 $1.9M $2.0M $1.9M $10.4M $1.9M $6.4M $7.3M $7.8M $5.4M 1Q'25 2Q'25 3Q'25 4Q'25 1Q'26 Market Making
Slide 3: Key Financial Metrics
Key Financial Metrics Annual Trailing 5 Quarters Comparison FY FY FY FY FY FY FY 2025 FY 2026 1Q 2026 v ($M) 2020 2021 2022 2023 2024 2025 1Q 2Q 3Q 4Q 1Q 4Q'25 1Q'25 Total Adjusted Net Trading Income 1 $2,271 $1,910 $1,468 $1,211 $1,598 $2,145 $497 $568 $467 $613 $787 + 32% + 56% Daily Average Adj.
Slide 4: Returns continue to increase on a growing capital base
Returns continue to increase on a growing capital base Return on Invested Capital1,2 $3.0B 160% 139% 140% $2.5B 107% 107% 120% 100% 95% 100% $2.0B 91% 94% 100% 77% 78% $1.5B 68% 66% 71% 80% 65% 60% $1.0B 40% $0.5B 20% - 0% FY'19 FY'20 FY'21 FY'22 FY'23 1Q'24 2Q'24 3Q'24 4Q'24 1Q'25 2Q'25 3Q'25 4Q'25
Slide 5: VES strong performance continues
VES strong performance continues VES Adj. NTI1 by quarter since 2022 $100M $110M $116M $149M $123M $104M $100M $115M $123M $125M $93M $85M $93M $89M $95M $90M $93M 1Q'22 2Q'22 3Q'22 4Q'22 1Q'23 2Q'23 3Q'23 4Q'23 1Q'24 2Q'24 3Q'24 4Q'24 1Q'25 2Q'25 3Q'25 4Q'25 1Q'26 Performance Highlights • 1Q 2026 w
Slide 6: Market Metrics
Market Metrics Annual Trailing 5 Quarters Comparison FY FY FY FY FY FY FY 2025 FY 2026 1Q 2026 v 2020 2021 2022 2023 2024 2025 1Q 2Q 3Q 4Q 1Q 4Q'25 1Q'25 Market Metrics (Average Daily) Volume Metrics US Equity Consolidated Volume (M shares) 10,926 11,404 11,875 11,054 12,153 17,581 15,695 18,386 17,
Slide 7: Operating Expenses and Long-Term Debt
Operating Expenses and Long-Term Debt Operating Expense Results Annual Trailing 5 Quarters Adjusted Operating Expenses FY FY FY FY FY FY 2025 2025 2025 2025 2026 TTM ($M) 2020 2021 2022 2023 2024 2025 1Q 2Q 3Q 4Q 1Q 1Q'26 Adj. Cash Compensation1 $321 $314 $315 $320 $351 $399 $95 $110 $112 $81 $171 $
Slide 8: GAAP Reconciliations and Other Information
GAAP Reconciliations and Other Information
Slide 9: Historical Dividends & Buybacks
Historical Dividends & Buybacks Cumulative Repurchases since 20201,2 80M 25% 70M 20% 60M 50M 50M 52M 53M 54M 54M 54M 44M 46M 47M 49M 15% 40M 41M 36M 39M 30M 32M 10% 27M 30M 20M 25M Cumulative Notional ($B): 5% 10M 12M 16M $0.9 $0.9 $1.0 $1.0 $1.1 $1.1 $1.1 $1.2 $1.2 $1.3 $1.3 $1.4 $1.4 $1.4 $1.4 - 7
Slide 10: Share Count Roll Forward
Share Count Roll Forward 2021 2022 2023 2024 2025 Grand (M shares) 4Q 2020 1Q 2026 Total Total Total Total Total Total Beginning of Period Shares 197.1 195.6 186.1 171.7 162.7 159.2 158.9 197.1 Shares Repurchased - 1.44 - 14.71 - 16.34 - 12.48 - 6.70 - 3.48 - - 55.14 Net Shares Issued - 0.05 + 5.16
Slide 11: GAAP Balance Sheet
GAAP Balance Sheet Assets ($M) As of: 12/31/19 12/31/20 12/31/21 12/31/22 12/31/23 12/31/24 12/31/25 3/31/26 Cash and cash equivalents $732 $890 $1,071 $982 $820 $873 $1,062 $973 Cash & securities segregated under regulations & other 41 117 49 57 35 41 65 57 Securities borrowed 1,929 1,425 1,349 1,1
Slide 12: GAAP Income Statement
GAAP Income Statement Annual Trailing 5 Quarters Income Statement FY FY FY FY FY FY FY 2025 2026 ($M) 2020 2021 2022 2023 2024 2025 1Q 2Q 3Q 4Q 1Q Trading income, net $2,493 $2,105 $1,629 $1,301 $1,822 $2,437 $590 $653 $529 $665 $789 Commissions, net and technology services 601 614 530 456 517 617 1
Slide 13: Adjusted EBITDA & Normalized Adjusted EPS
Adjusted EBITDA & Normalized Adjusted EPS Annual Trailing 5 Quarters Income Statement FY FY FY FY FY FY FY 2025 2026 ($M) 2020 2021 2022 2023 2024 2025 1Q 2Q 3Q 4Q 1Q Adjusted Net Trading Income $2,271 $1,910 $1,468 $1,211 $1,598 $2,145 $497 $568 $467 $613 $787 Adj. EBITDA / Adj. EPS FY FY FY FY FY
Slide 14: Adjusted Net Trading Income Reconciliation
Adjusted Net Trading Income Reconciliation Operating Segments Annual Trailing 5 Quarters Adjusted Net Trading Income Reconciliation FY FY FY FY FY FY 2025 2025 2025 2025 2026 ($M) 2020 2021 2022 2023 2024 2025 1Q 2Q 3Q 4Q 1Q Trading income, net $2,493 $2,105 $1,629 $1,301 $1,822 $2,437 $590 $653 $52
Slide 15: Adjusted Operating Expense Reconciliation
Adjusted Operating Expense Reconciliation Annual Trailing 5 Quarters Adjusted Operating Expenses Reconciliation FY FY FY FY FY FY FY 2025 FY 2026 ($M) 2020 2021 2022 2023 2024 2025 1Q 2Q 3Q 4Q 1Q Employee compensation and payroll taxes $394 $376 $391 $394 $435 $528 $119 $136 $158 $115 $208 (-) Cash
Slide 16: Disclaimer
Disclaimer Cautionary Statement Regarding Forward Looking Statements This presentation may contain “forward-looking statements” made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Statements regarding Virtu Financial, Inc.’s (“Virtu’s”, the “Company’s
Slide 17: End Notes
End Notes These notes refer to metrics and/or defined terms presented on: Slide 2 Performance Highlights 1. This reflects a non-GAAP measure. Please refer to slides at the end of this presentation for reconciliation to the equivalent GAAP measure. Prior period reconciliations available: https://ir.v
Slide 18: End Notes
End Notes These notes refer to metrics and/or defined terms presented on: Slide 6 Market Metrics 1. Rule 605 volumes reflect information contained within reports publicly available on Virtu’s website: https://www.virtu.com/about/transparency/rule-605-and-606-reporting. Slide 7 Operating Expenses and
Slide 19: End Notes
End Notes These notes refer to metrics and/or defined terms presented on: Slide 13 Adjusted EBITDA & Normalized Adjusted EPS 1. EBITDA Margin is calculated as EBITDA divided by Adjusted Net Trading Income. 2. Adj. EBITDA Margin is calculated as Adjusted EBITDA divided by Adjusted Net Trading Income.