Virtu Financial Files Q2 2024 10-Q

Ticker: VIRT · Form: 10-Q · Filed: Jul 26, 2024 · CIK: 1592386

Virtu Financial, Inc. 10-Q Filing Summary
FieldDetail
CompanyVirtu Financial, Inc. (VIRT)
Form Type10-Q
Filed DateJul 26, 2024
Risk Levelmedium
Pages16
Reading Time19 min
Key Dollar Amounts$0.00001
Sentimentneutral

Sentiment: neutral

Topics: 10-Q, financials, SEC filing

TL;DR

**Virtu Financial Q2 10-Q is in! Check financials for latest performance.**

AI Summary

Virtu Financial, Inc. filed its 10-Q for the period ending June 30, 2024. The filing details financial performance and operational updates for the second quarter of 2024. Key financial data and disclosures relevant to investors and stakeholders are presented.

Why It Matters

This filing provides crucial insights into Virtu Financial's financial health and operational performance during the second quarter of 2024, impacting investor decisions and market analysis.

Risk Assessment

Risk Level: medium — 10-Q filings are standard disclosures for public companies, but the specific financial details and market conditions discussed can introduce varying levels of risk.

Key Numbers

  • 2024 Q2 — Reporting Period (Financial performance for the second quarter of 2024 is detailed.)
  • 12/31 — Fiscal Year End (Indicates the company's fiscal year concludes on December 31st.)

Key Players & Entities

  • Virtu Financial, Inc. (company) — Filer of the 10-Q
  • 2024-06-30 (date) — End of the reporting period
  • 2024-07-26 (date) — Date of filing
  • 212-418-0100 (phone_number) — Business phone number

FAQ

What is the primary purpose of this 10-Q filing?

This 10-Q filing provides a comprehensive overview of Virtu Financial, Inc.'s financial condition and results of operations for the quarterly period ended June 30, 2024.

When was this 10-Q filing submitted to the SEC?

The filing was submitted on July 26, 2024.

What is Virtu Financial's fiscal year end?

Virtu Financial's fiscal year ends on December 31st.

What is the company's primary business classification according to the SIC code?

The company is classified under SIC code 6211, which pertains to Security Brokers, Dealers & Flotation Companies.

What is the reporting period covered by this document?

The reporting period covered is the second quarter of 2024, ending on June 30, 2024.

Filing Stats: 4,681 words · 19 min read · ~16 pages · Grade level 16.1 · Accepted 2024-07-26 16:23:04

Key Financial Figures

  • $0.00001 — stered Class A common stock, par value $0.00001 per share VIRT The Nasdaq Stock Market

Filing Documents

Financial Statements

Financial Statements Condensed Consolidated Statements of Financial Condition (Unaudited) 3 Condensed Consolidated Statements of Comprehensive Income (Unaudited) 5 Condensed Consolidated Statements of Changes in Equity (Unaudited) 6 Condensed Consolidated Statements of Cash Flows (Unaudited) 8 Notes to Condensed Consolidated Financial Statements (Unaudited) 10 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 47 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 78 Item 4.

Controls and Procedures

Controls and Procedures 80 PART II - OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 81 Item 1A.

Risk Factors

Risk Factors 81 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 81 Item 3. Defaults Upon Senior Securities 82 Item 4. Mine Safety Disclosures 82 Item 5. Other Information 82 Item 6. Exhibits 83

SIGNATURES

SIGNATURES 84 1 Table of Contents PART I

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS Index to Condensed Consolidated Financial Statements PAGE NUMBER Condensed Consolidated Statements of Financial Condition (Unaudited) 3 Condensed Consolidated Statements of Comprehensive Income (Unaudited) 5 Condensed Consolidated Statements of Changes in Equity (Unaudited) 6 Condensed Consolidated Statements of Cash Flows (Unaudited) 8 Notes to Condensed Consolidated Financial Statements (Unaudited) 10 2 Table of Contents Virtu Financial, Inc. and Subsidiaries Condensed Consolidated Statements of Financial Condition (Unaudited) (in thousands, except share data) June 30, 2024 December 31, 2023 Assets Cash and cash equivalents $ 684,806 $ 820,436 Cash restricted or segregated under regulations and other 31,857 35,024 Securities borrowed 1,918,973 1,722,440 Securities purchased under agreements to resell 793,292 1,512,114 Receivables from broker-dealers and clearing organizations ($ 27,682 and $ — at fair value, as of June 30, 2024 and December 31, 2023, respectively) 902,867 737,724 Trading assets, at fair value: Financial instruments owned 5,830,029 6,127,752 Financial instruments owned and pledged 1,499,401 1,230,859 Receivables from customers 124,769 106,245 Property, equipment and capitalized software (net of accumulated depreciation of $ 352,877 and $ 367,779 as of June 30, 2024 and December 31, 2023, respectively) 95,076 100,365 Operating lease right-of-use assets 200,926 229,499 Goodwill 1,148,926 1,148,926 Intangibles (net of accumulated amortization of $ 404,829 and $ 381,973 as of June 30, 2024 and December 31, 2023, respectively) 226,819 257,520 Deferred tax assets 125,183 133,760 Assets of business held for sale 4,485 — Other assets ($ 112,137 and $ 84,521 , at fair value, as of June 30, 2024 and December 31, 2023, respectively) 341,949 303,720 Total assets $ 13,929,358 $ 14,466,384 Liabilities and equity Liabilities Short-term borrowings $ 73,692 $ — Securities loaned 1,55

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