Virtu Financial Files Q3 2024 10-Q
Ticker: VIRT · Form: 10-Q · Filed: Oct 28, 2024 · CIK: 1592386
| Field | Detail |
|---|---|
| Company | Virtu Financial, Inc. (VIRT) |
| Form Type | 10-Q |
| Filed Date | Oct 28, 2024 |
| Risk Level | medium |
| Pages | 16 |
| Reading Time | 19 min |
| Key Dollar Amounts | $0.00001 |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, financials, quarterly-report
TL;DR
Virtu Financial's Q3 2024 10-Q is in. Check financials.
AI Summary
Virtu Financial, Inc. filed its 10-Q for the period ending September 30, 2024. The filing details the company's financial performance and position, including its fiscal year end of December 31. Key financial data and disclosures are provided, with the company's principal executive offices located at 1633 Broadway, New York, NY.
Why It Matters
This filing provides investors with an update on Virtu Financial's financial health and operational performance for the third quarter of 2024, crucial for investment decisions.
Risk Assessment
Risk Level: medium — As a financial services company, Virtu is subject to market volatility and regulatory changes, which can impact its performance.
Key Numbers
- 2024 Q3 — Reporting Period (Indicates the specific quarter the financial data pertains to.)
- 12/31 — Fiscal Year End (Specifies the end date of Virtu Financial's fiscal year.)
Key Players & Entities
- Virtu Financial, Inc. (company) — Filer of the 10-Q
- 2024-09-30 (date) — Period of report for the 10-Q
- 1633 Broadway, New York, NY (location) — Business and mailing address
- 212-418-0100 (phone_number) — Business phone number
FAQ
What is the primary purpose of this 10-Q filing?
This 10-Q filing provides Virtu Financial, Inc.'s quarterly financial statements and disclosures for the period ending September 30, 2024.
When is Virtu Financial's fiscal year end?
Virtu Financial's fiscal year ends on December 31.
Where is Virtu Financial's principal executive office located?
Virtu Financial's principal executive office is located at 1633 Broadway, New York, NY.
What is the SEC file number for Virtu Financial?
The SEC file number for Virtu Financial is 001-37352.
What is the SIC code for Virtu Financial?
The Standard Industrial Classification (SIC) code for Virtu Financial is 6211, which corresponds to Security Brokers, Dealers & Flotation Companies.
Filing Stats: 4,858 words · 19 min read · ~16 pages · Grade level 17.8 · Accepted 2024-10-28 16:08:13
Key Financial Figures
- $0.00001 — stered Class A common stock, par value $0.00001 per share VIRT The Nasdaq Stock Market
Filing Documents
- virt-20240930.htm (10-Q) — 3825KB
- exhibit311q324.htm (EX-31.1) — 11KB
- exhibit312q324.htm (EX-31.2) — 12KB
- exhibit321q324.htm (EX-32.1) — 6KB
- exhibit322q324.htm (EX-32.2) — 6KB
- 0001592386-24-000101.txt ( ) — 19304KB
- virt-20240930.xsd (EX-101.SCH) — 97KB
- virt-20240930_cal.xml (EX-101.CAL) — 172KB
- virt-20240930_def.xml (EX-101.DEF) — 637KB
- virt-20240930_lab.xml (EX-101.LAB) — 1155KB
- virt-20240930_pre.xml (EX-101.PRE) — 896KB
- virt-20240930_htm.xml (XML) — 4207KB
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 49 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 81 Item 4.
Controls and Procedures
Controls and Procedures 83 PART II - OTHER INFORMATION Item 1.
Legal Proceedings
Legal Proceedings 84 Item 1A.
Risk Factors
Risk Factors 84 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 84 Item 3. Defaults Upon Senior Securities 85 Item 4. Mine Safety Disclosures 85 Item 5. Other Information 85 Item 6. Exhibits 86
SIGNATURES
SIGNATURES 87 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) September 30, 2024 December 31, 2023 Assets Cash and cash equivalents $ 701,405 $ 820,436 Cash restricted or segregated under regulations and other 36,823 35,024 Securities borrowed 2,301,690 1,722,440 Securities purchased under agreements to resell 708,773 1,512,114 Receivables from broker-dealers and clearing organizations ($ 41,837 and $ — at fair value, as of September 30, 2024 and December 31, 2023, respectively) 1,194,193 737,724 Trading assets, at fair value: Financial instruments owned 5,195,334 6,127,752 Financial instruments owned and pledged 1,990,693 1,230,859 Receivables from customers 169,565 106,245 Property, equipment and capitalized software (net of accumulated depreciation of $ 369,697 and $ 367,779 as of September 30, 2024 and December 31, 2023, respectively) 93,899 100,365 Operating lease right-of-use assets 190,261 229,499 Goodwill 1,148,926 1,148,926 Intangibles (net of accumulated amortization of $ 416,677 and $ 381,973 as of September 30, 2024 and December 31, 2023, respectively) 214,971 257,520 Deferred tax assets 122,399 133,760 Assets of business held for sale 4,637 — Other assets ($ 105,162 and $ 84,521 , at fair value, as of September 30, 2024 and December 31, 2023, respectively) 327,137 303,720 Total assets $ 14,400,706 $ 14,466,384 Liabilities and equity Liabilities Short-term borrowings $ 128,761