Virtu Financial(US:VIRT)2025-04-23 14:50Financial Performance Highlights - Adjusted Net Trading Income (NTI) reached $497 million[5] - Adjusted NTI per day averaged $83 million[5] - Adjusted EBITDA stood at $320 million[5] - Adjusted EBITDA Margin was 64%[5] - Normalized Adjusted EPS was $130[5] - Debt to Last Twelve Months (LTM) Adjusted EBITDA was 17x[5] Share Repurchase and Capital Management - The company repurchased 13 million shares for $48 million in 1Q 2025[6] - Cumulative repurchases totaled 52 million shares for $135 billion, representing 189% of shares outstanding, net of issuances[6] - Quarterly Dividend of $024 per share[28] Market Metrics and Volatility - Market Making Adjusted NTI increased by 15% annually and 42% quarterly[7] - Execution Services Adjusted NTI increased by 10% annually and 26% quarterly[7] - Recent volatility is akin to levels seen in late 2021[14] Growth and Opportunities - LTM 1Q'25 EPS was $409 and LTM 1Q'25 Adjusted NTI/day was $69 million[6] - The company saw strong performance in customer and non-customer market making businesses[6] - The best quarter for VES since 1Q 2022[6] - Non-customer market making business has significant opportunities for diversified growth[12] - Post-2019 growth is secular with a Compound Annual Growth Rate (CAGR) of approximately 17%[16]