Slide 1: Fourth Quarter 2024 Earnings Supplement
Presentation Title in Fourth Title CaseQuarter 2024 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 © 2024 Virtu Financial.
Slide 2: Performance Highlights
Performance Highlights 4Q 2024 Key Financials Commentary & Highlights Normalized • Strong performance in customer and non- Adj. NTI1 Adj. NTI/day1,2 Adj. EPS1 customer market making business $458M $7.3M $1.14 • Best quarter for VES since 1Q 2022 Adj. EBITDA Debt to LTM Adj. EBITDA1 Margin1,3 Adj. EB
Slide 3: Key Financial Metrics
Key Financial Metrics Annual Quarterly Comparison FY FY FY FY FY FY 2023 FY 2024 4Q 2024 v ($M) 2020 2021 2022 2023 2024 4Q 1Q 2Q 3Q 4Q 3Q'24 4Q'23 Total Adjusted Net Trading Income 1,2 $2,271 $1,910 $1,468 $1,211 $1,598 $261 $367 $385 $388 $458 + 20% + 75% Daily Average Adj. NTI 1,2 $9.0 $7.6 $5.8
Slide 4: Major Market Metrics
Major Market Metrics Annual Quarterly Comparison FY FY FY FY FY FY 2023 FY 2024 4Q 2024 v 2020 2021 2022 2023 2024 4Q 1Q 2Q 3Q 4Q 3Q'24 4Q'23 Market Metrics (Average Daily) Volume Metrics US Equity Consolidated Volume (M shares) 10,926 11,404 11,875 11,054 12,218 11,168 11,760 11,935 11,503 13,664 +
Slide 5: Organic Business Growth
Organic Business Growth Annual Trailing 5 Quarters $1,003K per day $846K $787K per day $669K per day $641K $611K $631K per day $540K per day per day per day $494K $423K per day per day $255K per day $161K per day Daily Average Adj. NTI1 from per day Organic Growth Initiatives FY'18 FY'19 FY'20 FY'21
Slide 6: Analysis at Various Levels of ANTI
Analysis at Various Levels of ANTI Target Available ($M) Full Year Cash OpEx Adj. EBITDA 1,3 Adj. EPS for Buybacks ANTI/Day1 Adj. NTI 1 Total 1,2 EBITDA1,2 Margin 1,2 Annually4 $5.00 M $1,250 $659 $591 47% $1.99 $50-$120 FY 2024 share $6.00 M $1,500 $679 $821 55% $3.08 $120-$160 buybacks ($172M) in
Slide 7: Capital Management
Capital Management We continue to return capital to shareholders through dividends and share repurchases Steady Payout in All Environments Share Buybacks2,3 Dividends declared per share and Adjusted EPS1, quarterly Shares outstanding and share repurchases, quarterly Weighted $1.44 4.5 204.0 Avg. Sha
Slide 8: Update on Share Buybacks
Update on Share Buybacks Cumulative Shares Repurchased to Date 1,2 80M 25% 70M 18.5% 19.2% 19.4% 17.4% 17.4% 18.1% 20% 60M 16.2% 14.8% 50M 12.9% 13.6% 47M 49M 50M 51M 15% 11.8% 44M 46M 40M 9.1% 10.0% 39M 41M 32M 36M 10% 30M 5.6% 27M 30M 5.2% 25M 20M 2.7% 5% 1.0% 12M 16M 10M 0.8% - 7M 0% Cumulative S
Slide 9: Operating Expenses and Long-Term Debt
Operating Expenses and Long-Term Debt Disciplined focus on expense management Operating Expense Results Annual Quarterly Adjusted Operating Expenses FY FY FY FY FY 2023 2024 2024 2024 2024 ($M) 2020 2021 2022 2023 2024 4Q 1Q 2Q 3Q 4Q Adj. Cash Compensation1 $321 $314 $315 $320 $351 $77 $84 $86 $89 $
Slide 10: GAAP Reconciliations and Other Information
GAAP Reconciliations and Other Information
Slide 11: Share Count Roll Forward
Share Count Roll Forward 2021 2022 2023 2024 Grand (M shares) 4Q 2020 1Q 2024 2Q 2024 3Q 2024 4Q 2024 Total Total Total Total Total Beginning of Period Shares 197.1 195.6 186.1 171.7 162.7 162.7 161.4 160.6 162.7 197.1 Shares Repurchased - 1.44 - 14.71 - 16.34 - 12.48 - 1.96 - 1.38 - 1.68 - 1.67 - 6
Slide 12: GAAP Balance Sheet
GAAP Balance Sheet Assets ($M) As of: 12/31/19 12/31/20 12/31/21 12/31/22 9/30/23 12/31/23 3/31/24 6/30/24 9/30/24 12/31/24 Cash and cash equivalents $732 $890 $1,071 $982 $689 $820 $400 $685 $701 $873 Cash & securities segregated under regulations & other 41 117 49 57 38 35 30 32 37 41 Securities b
Slide 13: GAAP Income Statement
GAAP Income Statement Annual Quarterly Income Statement FY FY FY FY FY FY 2023 FY 2024 ($mm) 2020 2021 2022 2023 2024 4Q 1Q 2Q 3Q 4Q Trading income, net $2,493 $2,105 $1,629 $1,301 $1,822 $267 $408 $426 $444 $544 Commissions, net and technology services 601 614 530 456 517 114 119 126 132 140 Intere
Slide 14: Adjusted EBITDA & Normalized Adjusted EPS
Adjusted EBITDA & Normalized Adjusted EPS Annual Quarterly Income Statement FY FY FY FY FY FY 2023 FY 2024 ($mm) 2020 2021 2022 2023 2024 4Q 1Q 2Q 3Q 4Q Adjusted Net Trading Income $2,271 $1,910 $1,468 $1,211 $1,598 $261 $367 $385 $388 $458 Adj. EBITDA / Adj. EPS FY FY FY FY FY FY 2023 FY 2024 ($M)
Slide 15: Adjusted Net Trading Income Reconciliation
Adjusted Net Trading Income Reconciliation Operating Segments Annual Quarterly Adjusted Net Trading Income Reconciliation FY FY FY FY FY 2023 2024 2024 2024 2024 ($M) 2020 2021 2022 2023 2024 4Q 1Q 2Q 3Q 4Q Trading income, net $2,493 $2,105 $1,629 $1,301 $1,822 $267 $408 $426 $444 $544 Commissions,
Slide 16: Adjusted Net Trading Income Reconciliation
Adjusted Net Trading Income Reconciliation Organic Growth Initiatives Annual Quarterly Organic Growth Initiatives FY FY FY FY FY 2023 2024 2024 2024 2024 Adjusted Net Trading Income Reconciliation ($M) 2020 2021 2022 2023 2024 4Q 1Q 2Q 3Q 4Q Trading income, net $241 $144 $180 $184 $291 $43 $88 $62 $
Slide 17: Adjusted Operating Expense Reconciliation
Adjusted Operating Expense Reconciliation Annual Quarterly Adjusted Operating Expenses Reconciliation FY FY FY FY FY FY 2023 FY 2024 ($M) 2020 2021 2022 2023 2024 4Q 1Q 2Q 3Q 4Q Employee compensation and payroll taxes $394 $376 $391 $394 $435 $98 $101 $106 $108 $121 (-) Cash Compensation Adjustments
Slide 18: 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 19: 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.vi
Slide 20: End Notes
End Notes These notes refer to metrics and/or defined terms presented on: Slide 6 Analysis at Various Levels of ANTI 1. This reflects a non-GAAP measure. Ranges shown for illustrative purposes only and are not meant to reflect actual performance and therefore no quantitative reconciliation of illust
Slide 21: End Notes
End Notes These notes refer to metrics and/or defined terms presented on: Slide 8 Update on Share Buybacks 1. Shares repurchased calculated on a settlement date basis. 2. Percentage of Shares Outstanding is calculated net of share issuances, and is calculated compared to shares outstanding on 9/30/2
Slide 22: End Notes
End Notes These notes refer to metrics and/or defined terms presented on: Slide 14 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.