AI-extracted from the 10-Q filed 2026-07-31 — Q2 FY2026 (quarter ended June 30, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.
Total revenue rose 19.0% YoY to $1.19B on a 31.2% jump in Trading income, net, but higher compensation and interest expense compressed GAAP net income margin to 23.9% from 29.3%.
Biggest Revenue Drivers
Market Making$1,009.2M+28.3% YoY
Higher trading volumes and increased opportunities across global markets
Execution Services$173.5M-19.1% YoY
Decline driven by absence of prior-year RFQ-hub sale gain recorded in Other, net
Biggest Revenue Drivers
Total revenue: $1,190.0M+19.0% YoY
Market Making$1,009.2M+28.3% YoY
Higher trading volumes and increased opportunities across global markets
Within Market Making
Trading income, net$849.4M+31.2% YoY
Higher trading volumes and increased opportunities across global markets
Execution Services$173.5M-19.1% YoY
Decline driven by absence of prior-year RFQ-hub sale gain recorded in Other, net
Within Execution Services
Commissions, net and technology services$163.6M+17.3% YoY
Strengthened institutional engagement and higher client volumes
Corporate$7.3MNM YoY
Non-operating segment holding strategic investments and unallocated corporate items
Largest Expense Items
Brokerage, exchange, clearance fees and payments for order flow, net$259.0M+28.2% YoY
Direct costs of executing and clearing transactions vary with level of trading activity
Employee compensation and payroll taxes$216.7M+59.1% YoY
Increase in accrued incentive compensation tied to overall profitability and cash/stock award mix
Interest and dividends expense$205.3M+24.3% YoY
Higher interest on cash collateral from increased securities lending and higher dividends on short positions
Communication and data processing$69.7M+13.5% YoY
Increased spending on hardware, software, and communication networks maintained by joint venture
Margins: GAAP net income margin fell to 23.9% from 29.3% YoY and Adjusted EBITDA margin fell to 60.8% from 65.1%, as compensation and interest expense grew faster than Adjusted Net Trading Income despite a 26.4% increase in the latter.
Watch Items from the Filing
New patent infringement suit (SpectraNet, filed May 2026) alleges Virtu's shortwave trading methods infringe three patents, seeking treble damages and an injunction or ongoing royalty.
SEC information-barriers case resolved in December 2025 with a $2.5M penalty and injunction, but related securities and derivative class actions (In re Virtu Financial Securities Litigation, In re Virtu Financial Derivative Litigation) remain pending.
Subsequent to quarter-end, the Company added $500.0M of incremental Term B-2 Loans (July 23, 2026), bringing total Term B-2 balance to $2,029.6M.
Execution Services segment revenue fell 19.1% YoY to $173.5M, though the decline was driven by the absence of a one-time $67.0M RFQ-hub sale gain rather than core commissions, which grew 17.3%.
AI-extracted and verified against SEC EDGAR filing text. Not investment advice.
Viola Michael TDirectorGrant or award · Jul 1, 2026
About Virtu Financial, Inc. (VIRT): stock profile, AI score and financials
Virtu Financial, Inc. (VIRT) stock profile, AI quality score, and SEC EDGAR financial data, a Financials sector company. 13F Pro's AI-powered ranking engine scores VIRT at 73.8/100 on a composite quality score built from its SEC filings, placing it at rank #121 of 2,925 stocks — the top 5% of the AI-ranked universe. VIRT scores in the top quartile across revenue growth (86.6), institutional flow (83.8). Areas of concern include earnings quality (33.3), which score below median versus the broader universe. Shareholder dilution risk is elevated at 33.4/100, reflecting ongoing share issuance or stock-based compensation. Based on the latest XBRL financial filings (Q2 2026), Virtu Financial, Inc. reports quarterly revenue of $1.2B, net income of $150.9M, an operating margin of 28.8%. Top institutional holders of VIRT by reported 13-F value include BlackRock, VANGUARD PORTFOLIO MANAGEMENT, FMR, based on the most recent SEC filings. VIRT trades on the NYSE exchange and files with the SEC under CIK 1592386. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate VIRT daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for Virtu Financial, Inc. directly from SEC EDGAR.