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Parent Company | 12 Months Ended
--- | ---
Dec. 31, 2025
Condensed Financial Information Disclosure [Abstract] |
Parent Company | Parent Company VFI is the managing member of Virtu Financial, which guarantees the indebtedness of its direct subsidiary under the First Lien Term B-2 Loan Facility (see Note 9 “Borrowings”). VFI is limited in its ability to receive distributions (including for purposes of paying corporate and other overhead expenses and dividends) from Virtu Financial under the Credit Agreement. The following financial statements (the “Parent Company Only Financial Statements”) should be read in conjunction with the Consolidated Financial Statements of the Company and the foregoing. Virtu Financial, Inc. (Parent Company Only) Statements of Financial Condition
(In thousands except interest data) | December 31, 2025 |  | December 31, 2024
Assets |  |  |
Cash | $ | 116,534 |  |  | $ | 30,369 |
Deferred tax asset | 88,644 |  |  | 131,568 |
Investment in subsidiary | 3,305,034 |  |  | 3,039,061 |
Other assets | — |  |  | 18,942 |
Total assets | $ | 3,510,212 |  |  | $ | 3,219,940 |
Liabilities, redeemable membership interest and equity |  |  |
Liabilities |  |  |
Payable to affiliate | $ | 1,743,480 |  |  | $ | 1,741,974 |
Accounts payable and accrued expenses and other liabilities | 598 |  |  | 25,200 |
Deferred tax liabilities | 2,000 |  |  | 2,000 |
Tax receivable agreement obligations | 181,855 |  |  | 196,592 |
Total liabilities | 1,927,933 |  |  | 1,965,766 |
Virtu Financial Inc. Stockholders' equity |  |  |
Class A common stock (par value $0.00001), Authorized — 1,000,000,000 and 1,000,000,000 shares, Issued — 140,877,669 and 137,479,751 shares, Outstanding — 84,919,931 and 84,976,325 shares at December 31, 2025 and December 31, 2024, respectively | 1 |  |  | 1 |
Class B common stock (par value $0.00001), Authorized — 175,000,000 and 175,000,000 shares, Issued and Outstanding — 0 and 0 shares at December 31, 2025 and December 31, 2024, respectively | — |  |  | — |
Class C common stock (par value $0.00001), Authorized — 90,000,000 and 90,000,000 shares, Issued and Outstanding — 7,970,185 and 8,561,970 shares at December 31, 2025 and December 31, 2024, respectively | — |  |  | — |
Class D common stock (par value $0.00001), Authorized — 175,000,000 and 175,000,000 shares, Issued and Outstanding — 60,091,740 and 60,091,740 shares at December 31, 2025 and December 31, 2024, respectively | 1 |  |  | 1 |
Treasury stock, at cost, 55,957,738 and 52,503,426 shares at December 31, 2025 and December 31, 2024, respectively | (1,475,666) |  |  | (1,339,913) |
Additional paid-in capital | 1,541,684 |  |  | 1,432,240 |
Retained earnings | 1,519,270 |  |  | 1,168,908 |
Accumulated other comprehensive income (loss) | (3,011) |  |  | (7,063) |
Total Virtu Financial Inc. stockholders' equity | 1,582,279 |  |  | 1,254,174 |
Total liabilities and stockholders' equity | $ | 3,510,212 |  |  | $ | 3,219,940 |
Virtu Financial, Inc. (Parent Company Only) Statements of Comprehensive Income
| Years Ended December 31,
(in thousands) | 2025 |  | 2024 |  | 2023
Revenues: |  |  |  |  |
Other Income | $ | — |  |  | $ | — |  |  | $ | — |
| — |  |  | — |  |  | — |
Operating Expenses: |  |  |  |  |
Operations and administrative | (1,801) |  |  | (142) |  |  | (213) |
Income (loss) before equity in income of subsidiary | 1,801 |  |  | 142 |  |  | 213 |
Equity in income (loss) of subsidiary, net of tax | 466,560 |  |  | 534,393 |  |  | 263,708 |
Net income (loss) | $ | 468,361 |  |  | $ | 534,535 |  |  | $ | 263,921 |
Net income (loss) attributable to common stockholders | $ | 468,361 |  |  | $ | 534,535 |  |  | $ | 263,921 |
Other comprehensive income (loss): |  |  |  |  |
Foreign currency translation adjustment, net of taxes | 8,995 |  |  | (5,637) |  |  | 6,952 |
Net change in unrealized cash flow hedges gains (losses), net of taxes | (4,943) |  |  | (18,473) |  |  | (21,509) |
Comprehensive income (loss) | $ | 472,413 |  |  | $ | 510,425 |  |  | $ | 249,364 |
Virtu Financial, Inc. (Parent Company Only) Statements of Cash Flows
| Years Ended December 31,
(in thousands) | 2025 |  | 2024 |  | 2023
Cash flows from operating activities |  |  |  |  |
Net income | $ | 468,361 |  |  | $ | 534,535 |  |  | $ | 263,921 |
Adjustments to reconcile net income to net cash provided by operating activities: |  |  |  |  |
Equity in income of subsidiary, net of tax | 34,005 |  |  | (139,113) |  |  | 223,376 |
Tax receivable agreement obligation reduction | 6,036 |  |  | 338 |  |  | 997 |
Deferred taxes | 42,924 |  |  | (1,224) |  |  | 8,795 |
Changes in operating assets and liabilities: | (4,179) |  |  | 50,878 |  |  | 1,129 |
Net cash provided by operating activities | 547,147 |  |  | 445,414 |  |  | 498,218 |
Cash flows from investing activities |  |  |  |  |
Investments in subsidiaries, equity basis | 99,498 |  |  | 67,741 |  |  | 66,644 |
Net cash provided by investing activities | 99,498 |  |  | 67,741 |  |  | 66,644 |
Cash flows from financing activities |  |  |  |  |
Dividends to stockholders and distributions from Virtu Financial to noncontrolling interest | (349,347) |  |  | (299,403) |  |  | (306,136) |
Repurchase of Class C common stock | (1,566) |  |  | — |  |  | (1,566) |
Purchase of treasury stock | (188,794) |  |  | (191,138) |  |  | (229,012) |
Tax receivable agreement obligations | (20,773) |  |  | (20,226) |  |  | (23,275) |
Issuance of common stock in connection with secondary offering, net of offering costs | — |  |  | — |  |  | — |
Net cash used in financing activities | (560,480) |  |  | (510,767) |  |  | (559,989) |
Net increase (decrease) in Cash | 86,165 |  |  | 2,388 |  |  | 4,873 |
Cash, beginning of period | 30,369 |  |  | 27,981 |  |  | 23,108 |
Cash, end of period | $ | 116,534 |  |  | $ | 30,369 |  |  | $ | 27,981 |
Supplemental disclosure of cash flow information: |  |  |  |  |
Taxes paid | $ | 67,427 |  |  | $ | 10,675 |  |  | $ | 14,957 |
Non-cash financing activities |  |  |  |  |
Tax receivable agreement described in Note 5 | (4,497) |  |  | (209) |  |  | (3,787) |
Repurchase of Class C common stock | (1,018) |  |  | (76) |  |  | (2,330) |
Purchase of treasury stock | (406) |  |  | (1,340) |  |  | — |

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- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 235 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477314/942-235-S99-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480738/235-10-S50-4 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3 Reference 4: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Topic 810 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481231/810-10-45-11 + Details
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