Virtu Financial 8-K
PositiveEarnings
Markets a $400M Term Loan B add-on for general corporate purposes; preliminary trading income rises while net income edges lower.
Filed 2026-07-14 07:55 ET
- 2.02 Results of Operations
- 7.01 Regulation FD Disclosure
Summary
Preliminary Q2 2026 results and marketing of an incremental first-lien term loan. Revenue grew as trading income, net, increased, while net income edged lower. The estimates remain subject to finalization; full results are scheduled for 7/30/2026. Virtu also began marketing an add-on to its term loan for general corporate purposes.
Results
| Metric | Q2 2026 | Change |
|---|---|---|
| Revenue | $1.19B | +19% Y/Y |
| Net income | $285M | -2.7% Y/Y |
| Diluted EPS | $1.63 | — |
What moved the numbers
- GAAP trading income, net, was $857M vs $653M. Adjusted net trading income, Virtu’s non-GAAP measure after commissions, interest and dividends, and direct brokerage and exchange costs, was $718M vs $568M; average daily adjusted net trading income was $11.6M vs $9.2M.
- The $400M Term Loan B add-on would increase the loan balance from $1.53B to $1.93B. It is a first-lien floating-rate loan at SOFR + 2.50%, maturing 6/21/2031, with no financial covenants; proceeds are intended for the balance sheet and general corporate purposes. The add-on is ≈41% of the $973M cash balance at 3/31/2026 shown in the presentation. Pro forma total debt is $2.452B, while net debt remains $1.078B and net leverage 0.7x; commitments were due 7/16/2026, with closing and funding thereafter.
Figures extracted from the filings and checked against their text; changes and verdicts computed from them.
The summary is written by an AI model reading the filing.
Model 005 · prompt v189 · 2026-11-06 15:42:32Z