Virtu Financial Inc-A 2025年季度报告

SECURITIES AND EXCHANGE COMMISSIONWashington, D.C. 20549 FORM10-Q(Mark One) ☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934For the quarterly period endedMarch 31, 2025 (Registrant’s telephone number, including area code)Securities registered pursuant to Section 12(b) of the Act: Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15 (d) of the Securities Exchange Act of 1934during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filingrequirements for the past 90 days.Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 ofRegulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or anemerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company”in Rule 12b-2 of the Exchange Act. If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any newor revised financial accounting standards provided pursuant to Section 13(a) of the Securities Act.☐ ClassofStock PARTI -FINANCIAL INFORMATIONItem 1.Financial StatementsCondensed Consolidated Statements of Financial Condition (Unaudited)3Condensed Consolidated Statements of Comprehensive Income (Unaudited)5Condensed Consolidated Statements of Changes in Equity (Unaudited)6Condensed Consolidated Statements of Cash Flows (Unaudited)7Notes to Condensed Consolidated Financial Statements (Unaudited)9Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations46Item 3.Quantitative and Qualitative Disclosures About Market Risk73Item 4.Controls and Procedures75PARTII -OTHER INFORMATIONItem 1.Legal Proceedings76Item 1A.Risk Factors76Item 2.Unregistered Sales of Equity Securities and Use of Proceeds76Item 3.Defaults Upon Senior Securities77Item 4.Mine Safety Disclosures77Item 5.Other Information77Item 6.Exhibits78SIGNATURES79 PART I ITEM 1. FINANCIAL STATEMENTS Index to Condensed Consolidated Financial Statements Condensed Consolidated Statements of Financial Condition (Unaudited)Condensed Consolidated Statements of Comprehensive Income (Unaudited)Condensed Consolidated Statements of Changes in Equity (Unaudited)Condensed Consolidated Statements of Cash Flows (Unaudited)Notes to Condensed Consolidated Financial Statements (Unaudited) Virtu Financial, Inc. and SubsidiariesCondensed Consolidated Statements of Financial Condition (Unaudited) March 31,2025December 31,2024 AssetsCash and cash equivalents$723,650$872,513Cash restricted or segregated under regulations and other47,36441,478Securities borrowed2,780,4052,294,529Securities purchased under agreements to resell1,153,090983,941Receivables from broker-dealers and clearing organizations ($108,358and $51,595at fair value, as of March 31, 2025and December 31, 2024, respectively)1,857,8541,100,850Trading assets, at fair value:Financial instruments owned6,292,3975,520,015Financial instruments owned and pledged2,428,5842,282,637Receivables from customers189,382149,804Property, equipment and capitalized software (net of accumulated depreciation of $388,684and $380,202as of March31, 2025 and December 31, 2024, respectively)92,81591,415Operating lease right-of-use assets163,230175,046Goodwill1,148,9261,148,926Intangibles (net of accumulated amortization of $440,243and $428,460as of March 31, 2025 and December 31, 2024,respectively)190,280203,188Deferred tax assets125,762135,046Assets of business held for sale4,5734,615Other assets ($129,387and $158,326, at fair value, as of March 31, 2025 and December 31, 2024, respectively)349,902357,740Total assets$17,548,214$15,361,743 Short-term borrowings$112,149$38,541Securities loaned2,827,0252,431,878Securities sold under agreements to repurchase1,461,4151,271,788Payables to broker-dealers and clearing organizations ($199,920and $136,736, at fair value, as of March 31, 2025 andDecember 31, 2024, respectively)774,809918,566Payables to customers66,73246,112Trading liabilities, at fair value:Financial instruments sold, not yet purchased8,116,8566,440,971Tax receivable agreement obligations175,819196,592Accounts payable, accrued expenses and other liabilities492,892558,100Operating lease liabilities216,314229,825Long-term borrowings1,741,0921,740,467Liabilities of business held for sale1,4551,526Total liabilities15,986,55813,874,366 Virtu Financial Inc. Stockholders' equityClass A common stock (par value $0.00001), Authorized —1,0