Virtu (VIRT) Q2 2025 Earnings Call Transcript

Motley Fool Transcribing, The Motley Fool

Tue, April 21, 2026 astatine 11:48 AM CDT 41 min read

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Wednesday, July 30, 2025 astatine 8 a.m. ET

• Chief Executive Officer — Douglas A. Cifu

• Co-President and Co-Chief Operating Officer — Joseph A. Molluso

• Chief Financial Officer — Cindy Lee

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Douglas Cifu, our Chief Executive Officer; Mr. Joseph Molluso, our Co-President and Co-Chief Operating Officer; and Ms. Cindy Lee, our Chief Financial Officer. We volition statesman with prepared remarks and past instrumentality your questions. First, a fewer reminders. Today's telephone whitethorn see forward-looking statements, which correspond Virtu's existent content regarding aboriginal events and are, truthful taxable to risks, assumptions and uncertainties, which whitethorn beryllium extracurricular the company's control. Please enactment that our existent results and fiscal conditions whitethorn disagree materially from what is indicated successful these forward-looking statements.

It is important to enactment that immoderate forward-looking statements made connected this telephone are based connected accusation presently disposable to the company, and we bash not undertake to update oregon revise immoderate forward-looking statements arsenic caller accusation becomes available. We notation you to disclaimers successful our property merchandise and promote you to reappraisal the statement of hazard factors contained successful our yearly report, Form 10-K and different nationalist filings. During today's call, successful summation to GAAP measures, we whitethorn notation to definite non-GAAP measures, including adjusted nett trading income, adjusted nett income, adjusted EBITDA and adjusted EBITDA margin. These non-GAAP measures should beryllium considered arsenic supplemental to and not arsenic superior to fiscal measures arsenic reported successful accordance with GAAP.

We nonstop listeners to consult the Investor information of our website, wherever you'll find further supplemental accusation referred to connected this telephone arsenic good arsenic a reconciliation of non-GAAP measures to the equivalent GAAP word successful the net materials with an mentation of wherefore we deem this accusation to beryllium meaningful arsenic good arsenic however absorption uses these measures. And with each that, I'd similar to crook the telephone implicit to our CEO, Doug Cifu.

Douglas A. Cifu: Thank you precise much, Andrew, and bully morning, everyone. Thank you for joining america this morning. In my remarks today, I volition absorption connected Virtu's 2nd 4th 2025 show and strategical initiatives. Following my remarks, Joe and Cindy volition supply further details connected our results. We realized outstanding results crossed our businesses successful the 2nd quarter, fueled by marketplace turmoil astir tariffs, economical argumentation and wide volatility we recorded $568 cardinal successful adjusted nett trading income, which is $9.2 cardinal per time and $1.53 successful adjusted EPS, some numbers caller highs and are reflective of our ongoing investments, maturation initiatives crossed the steadfast and the macro environment. Market Making contributed $451 cardinal and Execution Services contributed $116 million.