$VCTR
Victory Capital Holdings, Inc.

2022 Q3 Form 10-Q Financial Statement

#000156459022028314 Filed on August 08, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2022 Q1
Revenue $207.3M $216.0M $230.0M
YoY Change -8.41% -2.66% 8.02%
Cost Of Revenue $39.02M $40.87M $43.58M
YoY Change -13.02% -7.59% 3.52%
Gross Profit $168.2M $175.1M $186.4M
YoY Change -7.27% -1.43% 9.15%
Gross Profit Margin 81.17% 81.08% 81.05%
Selling, General & Admin $69.17M $71.50M $77.66M
YoY Change -0.66% 0.46% 7.42%
% of Gross Profit 41.11% 40.83% 41.66%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $10.69M $10.76M $10.61M
YoY Change 144.14% 129.19% 141.89%
% of Gross Profit 6.35% 6.14% 5.69%
Operating Expenses $108.6M $96.68M $128.5M
YoY Change -14.67% -23.66% 4.29%
Operating Profit $98.64M $119.3M $101.5M
YoY Change -0.36% 25.25% 13.13%
Interest Expense -$12.80M -$13.25M -$9.347M
YoY Change 117.76% 219.15% 133.68%
% of Operating Profit -12.98% -11.1% -9.21%
Other Income/Expense, Net -$13.29M -$14.33M -$11.00M
YoY Change 100.18% 166.92% 59.53%
Pretax Income $85.35M $105.0M $90.54M
YoY Change -7.59% 16.79% 9.27%
Income Tax $12.60M $25.80M $19.30M
% Of Pretax Income 14.76% 24.57% 21.32%
Net Earnings $72.76M $79.21M $71.27M
YoY Change -1.9% 14.34% 9.31%
Net Earnings / Revenue 35.11% 36.67% 30.99%
Basic Earnings Per Share $1.06 $1.16 $1.04
Diluted Earnings Per Share $1.01 $1.09 $0.97
COMMON SHARES
Basic Shares Outstanding 68.45M 68.52M 68.75M
Diluted Shares Outstanding 71.88M 72.87M 73.65M

Balance Sheet

Concept 2022 Q3 2022 Q2 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $66.67M $42.72M $38.55M
YoY Change 2.98% 35.09% 26.81%
Cash & Equivalents $66.67M $42.72M $38.55M
Short-Term Investments
Other Short-Term Assets $7.321M $7.760M $7.914M
YoY Change 31.46% 24.56% 16.38%
Inventory
Prepaid Expenses
Receivables $82.31M $85.34M $93.51M
Other Receivables $5.221M $5.557M $201.0K
Total Short-Term Assets $161.5M $141.4M $140.2M
YoY Change -6.9% 3.55% 8.58%
LONG-TERM ASSETS
Property, Plant & Equipment $23.12M $24.61M $24.76M
YoY Change -2.37% 1.31% 19.61%
Goodwill $981.8M $981.8M
YoY Change
Intangibles $1.324B $1.332B
YoY Change
Long-Term Investments $28.91M $29.50M $32.39M
YoY Change -3.0% -0.23% 20.4%
Other Assets
YoY Change
Total Long-Term Assets $2.428B $2.426B $2.457B
YoY Change 50.08% 49.81% 51.59%
TOTAL ASSETS
Total Short-Term Assets $161.5M $141.4M $140.2M
Total Long-Term Assets $2.428B $2.426B $2.457B
Total Assets $2.589B $2.568B $2.597B
YoY Change 44.56% 46.21% 48.41%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $50.15M $45.74M $47.59M
YoY Change -7.24% -10.59% -15.63%
Accrued Expenses $52.95M $48.31M $43.39M
YoY Change 18.89% 24.23% 24.32%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $371.0M $372.4M $396.5M
YoY Change 83.94% 95.27% 112.84%
LONG-TERM LIABILITIES
Long-Term Debt $999.8M $1.017B $1.061B
YoY Change 57.73% 52.42% 46.75%
Other Long-Term Liabilities $47.88M $48.53M $53.09M
YoY Change 55.17% 58.5% 90.27%
Total Long-Term Liabilities $1.048B $1.066B $1.114B
YoY Change 57.61% 52.69% 48.36%
TOTAL LIABILITIES
Total Short-Term Liabilities $371.0M $372.4M $396.5M
Total Long-Term Liabilities $1.048B $1.066B $1.114B
Total Liabilities $1.522B $1.529B $1.667B
YoY Change 64.84% 62.71% 69.34%
SHAREHOLDERS EQUITY
Retained Earnings $573.7M $518.4M
YoY Change 66.42%
Common Stock $700.0M $686.3M
YoY Change 5.13%
Preferred Stock
YoY Change
Treasury Stock (at cost) $243.9M $193.7M
YoY Change
Treasury Stock Shares $11.81M $9.995M
Shareholders Equity $1.067B $1.038B $986.3M
YoY Change
Total Liabilities & Shareholders Equity $2.589B $2.568B $2.597B
YoY Change 44.56% 46.21% 48.41%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2022 Q1
OPERATING ACTIVITIES
Net Income $72.76M $79.21M $71.27M
YoY Change -1.9% 14.34% 9.31%
Depreciation, Depletion And Amortization $10.69M $10.76M $10.61M
YoY Change 144.14% 129.19% 141.89%
Cash From Operating Activities $103.1M $90.24M $74.81M
YoY Change 3.18% 6.7% -6.05%
INVESTING ACTIVITIES
Capital Expenditures -$496.0K -$2.287M $1.176M
YoY Change -84.05% -57.44% 199.24%
Acquisitions $327.0K
YoY Change 990.0%
Other Investing Activities -$9.000K -$746.0K -$2.616M
YoY Change -98.51% -11.51% 273.71%
Cash From Investing Activities -$505.0K -$3.033M -$4.119M
YoY Change -86.41% -51.21% 261.32%
FINANCING ACTIVITIES
Cash Dividend Paid $17.38M
YoY Change 171.88%
Common Stock Issuance & Retirement, Net $8.891M
YoY Change 30.23%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -78.49M -82.94M -101.6M
YoY Change 24.56% 7.48% 43.5%
NET CHANGE
Cash From Operating Activities 103.1M 90.24M 74.81M
Cash From Investing Activities -505.0K -3.033M -4.119M
Cash From Financing Activities -78.49M -82.94M -101.6M
Net Change In Cash 24.07M 4.269M -30.98M
YoY Change -27.42% 260.25% -505.43%
FREE CASH FLOW
Cash From Operating Activities $103.1M $90.24M $74.81M
Capital Expenditures -$496.0K -$2.287M $1.176M
Free Cash Flow $103.6M $92.53M $73.64M
YoY Change 0.54% 2.87% -7.07%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
dei Amendment Flag
AmendmentFlag
false
CY2022Q2 us-gaap Treasury Stock Shares
TreasuryStockShares
9995449
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
7811000
CY2022Q2 vctr Accounts Payable And Accrued Liabilities Excluding Employee Benefits
AccountsPayableAndAccruedLiabilitiesExcludingEmployeeBenefits
45737000
dei Entity Central Index Key
EntityCentralIndexKey
0001570827
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2021Q4 vctr Accounts Payable And Accrued Liabilities Excluding Employee Benefits
AccountsPayableAndAccruedLiabilitiesExcludingEmployeeBenefits
62102000
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
CY2022Q2 us-gaap Accounts Receivable Net
AccountsReceivableNet
90900000
CY2021Q4 us-gaap Accounts Receivable Net
AccountsReceivableNet
104305000
CY2022Q2 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
7760000
CY2021Q4 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
6654000
CY2022Q2 us-gaap Debt Securities
DebtSecurities
29498000
CY2021Q4 us-gaap Debt Securities
DebtSecurities
31724000
CY2022Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
24609000
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
25295000
CY2022Q2 us-gaap Goodwill
Goodwill
981805000
CY2021Q4 us-gaap Goodwill
Goodwill
981805000
CY2022Q2 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
1332484000
CY2021Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
1349797000
CY2022Q2 us-gaap Other Assets
OtherAssets
57796000
CY2021Q4 us-gaap Other Assets
OtherAssets
10633000
CY2022Q2 us-gaap Assets
Assets
2567570000
CY2021Q4 us-gaap Assets
Assets
2579746000
dei Security12b Title
Security12bTitle
Class A Common Stock, $0.01 Par Value
dei Trading Symbol
TradingSymbol
VCTR
dei Security Exchange Name
SecurityExchangeName
NASDAQ
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
dei Entity Filer Category
EntityFilerCategory
Accelerated Filer
dei Entity Small Business
EntitySmallBusiness
false
dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
true
dei Entity Ex Transition Period
EntityExTransitionPeriod
false
dei Entity Shell Company
EntityShellCompany
false
CY2022Q3 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
68448491
CY2022Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
42718000
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
69533000
CY2022Q2 us-gaap Accrued Employee Benefits Current And Noncurrent
AccruedEmployeeBenefitsCurrentAndNoncurrent
48308000
CY2021Q4 us-gaap Accrued Employee Benefits Current And Noncurrent
AccruedEmployeeBenefitsCurrentAndNoncurrent
53905000
CY2022Q2 us-gaap Business Combination Contingent Consideration Liability
BusinessCombinationContingentConsiderationLiability
278400000
CY2021Q4 us-gaap Business Combination Contingent Consideration Liability
BusinessCombinationContingentConsiderationLiability
309380000
CY2022Q2 us-gaap Deferred Income Tax Liabilities Net
DeferredIncomeTaxLiabilitiesNet
90914000
CY2021Q4 us-gaap Deferred Income Tax Liabilities Net
DeferredIncomeTaxLiabilitiesNet
63120000
CY2022Q2 us-gaap Other Liabilities
OtherLiabilities
48534000
CY2021Q4 us-gaap Other Liabilities
OtherLiabilities
33388000
CY2022Q2 us-gaap Long Term Debt
LongTermDebt
1017496000
CY2021Q4 us-gaap Long Term Debt
LongTermDebt
1127924000
CY2022Q2 us-gaap Liabilities
Liabilities
1529389000
CY2021Q4 us-gaap Liabilities
Liabilities
1649819000
CY2022Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2021Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2022Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
600000000
CY2022Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
78361311
CY2022Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
68365862
CY2021Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
600000000
CY2021Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
77242372
CY2021Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
68662779
CY2022Q2 us-gaap Common Stock Value
CommonStockValue
784000
CY2021Q4 us-gaap Common Stock Value
CommonStockValue
772000
us-gaap Use Of Estimates
UseOfEstimates
<p style="text-align:justify;margin-bottom:6pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Use of Estimates and Assumptions<span style="font-weight:normal;"> </span></p> <p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:6pt;margin-top:0pt;text-indent:0%;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The preparation of the unaudited condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts and disclosures in the financial statements and the notes. Actual results may ultimately differ materially from those estimates. </p> <p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:6pt;margin-top:0pt;text-indent:0%;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">On March 11, 2020, the World Health Organization declared the outbreak of COVID-19 a pandemic. The global spread of COVID-19 has created significant volatility, uncertainty and economic disruption. While COVID-19 did not have a material adverse effect on our business, operations and financial results, the extent to which the pandemic impacts our business, operations and financial results going forward will depend on numerous evolving factors that we may not be able to accurately predict, including: the duration and scope of the pandemic; governmental, business and individuals’ actions that have been and continue to be taken in response to the pandemic; the impact of the pandemic on economic activity and actions taken in response; and the effect on our ability to sell and provide our services.</p>
CY2022Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
18700000
CY2022Q1 vctr Reclassification Of Deferred Rent Liabilities
ReclassificationOfDeferredRentLiabilities
1700000
CY2022Q2 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
85343000
CY2021Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
97757000
CY2022Q2 us-gaap Nontrade Receivables
NontradeReceivables
5557000
CY2021Q4 us-gaap Nontrade Receivables
NontradeReceivables
6548000
CY2022Q2 us-gaap Accounts Receivable Net
AccountsReceivableNet
90900000
CY2021Q4 us-gaap Accounts Receivable Net
AccountsReceivableNet
104305000
CY2022Q2 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
143000
CY2021Q2 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
422000
us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
260000
us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
258000
CY2022Q1 us-gaap Restructuring Reserve
RestructuringReserve
300000
CY2021Q1 us-gaap Restructuring Reserve
RestructuringReserve
1400000
CY2021Q4 us-gaap Restructuring Reserve
RestructuringReserve
300000
CY2020Q4 us-gaap Restructuring Reserve
RestructuringReserve
1000000.0
CY2021Q2 us-gaap Business Combination Integration Related Costs
BusinessCombinationIntegrationRelatedCosts
200000
us-gaap Business Combination Integration Related Costs
BusinessCombinationIntegrationRelatedCosts
200000
CY2021Q2 us-gaap Restructuring And Related Cost Incurred Cost
RestructuringAndRelatedCostIncurredCost
400000
us-gaap Restructuring And Related Cost Incurred Cost
RestructuringAndRelatedCostIncurredCost
2500000
CY2022Q2 us-gaap Payments For Restructuring
PaymentsForRestructuring
300000
CY2021Q2 us-gaap Payments For Restructuring
PaymentsForRestructuring
1000000.0
us-gaap Payments For Restructuring
PaymentsForRestructuring
300000
us-gaap Payments For Restructuring
PaymentsForRestructuring
2700000
CY2021Q2 us-gaap Restructuring Reserve
RestructuringReserve
800000
CY2021Q2 us-gaap Restructuring Reserve
RestructuringReserve
800000
CY2021Q4 us-gaap Business Combination Contingent Consideration Liability
BusinessCombinationContingentConsiderationLiability
309400000
CY2022Q2 vctr Fair Value Assets Transfer Between Levels Amount
FairValueAssetsTransferBetweenLevelsAmount
0
CY2021Q4 vctr Fair Value Assets Transfer Between Levels Amount
FairValueAssetsTransferBetweenLevelsAmount
0
CY2022Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
17809000
CY2022Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
4495000
CY2022Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
15180000
CY2022Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
19675000
CY2022Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P5Y
CY2022Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
25800000
CY2021Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
20600000
CY2022Q2 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.246
CY2021Q2 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.229
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
45100000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
38300000
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.230
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.222
CY2022Q2 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
0
CY2021Q2 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
0
CY2022Q2 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
13057000
CY2021Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
16436000
CY2022Q2 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
5686000
CY2021Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
6879000
CY2022Q2 us-gaap Long Term Debt
LongTermDebt
1017496000
CY2021Q4 us-gaap Long Term Debt
LongTermDebt
1127924000
CY2022Q2 us-gaap Interest Expense Debt
InterestExpenseDebt
8628000
CY2021Q2 us-gaap Interest Expense Debt
InterestExpenseDebt
4348000
us-gaap Interest Expense Debt
InterestExpenseDebt
15748000
us-gaap Interest Expense Debt
InterestExpenseDebt
9277000
CY2022Q2 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
807000
CY2021Q2 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
585000
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
1650000
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
1247000
CY2022Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.039
CY2022Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
1300000
us-gaap Operating Lease Cost
OperatingLeaseCost
2665000
CY2022Q2 us-gaap Short Term Lease Cost
ShortTermLeaseCost
21000
us-gaap Short Term Lease Cost
ShortTermLeaseCost
42000
CY2022Q2 us-gaap Variable Lease Cost
VariableLeaseCost
386000
us-gaap Variable Lease Cost
VariableLeaseCost
884000
CY2022Q2 vctr Gross Lease Cost
GrossLeaseCost
1707000
vctr Gross Lease Cost
GrossLeaseCost
3591000
CY2022Q2 us-gaap Sublease Income
SubleaseIncome
206000
us-gaap Sublease Income
SubleaseIncome
415000
CY2022Q2 us-gaap Lease Cost
LeaseCost
1501000
us-gaap Lease Cost
LeaseCost
3176000
CY2022Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
1192000
us-gaap Operating Lease Payments
OperatingLeasePayments
2469000
CY2022Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
1700000
us-gaap Operating Lease Expense
OperatingLeaseExpense
3600000
CY2021Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
1800000
us-gaap Operating Lease Expense
OperatingLeaseExpense
3700000
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
2485000
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
5269000
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
4214000
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
3859000
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
3070000
CY2022Q2 vctr Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
2738000
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
21635000
CY2022Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
1960000
CY2022Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
19675000
dei Document Type
DocumentType
10-Q
dei Document Quarterly Report
DocumentQuarterlyReport
true
dei Document Period End Date
DocumentPeriodEndDate
2022-06-30
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2022
dei Document Transition Report
DocumentTransitionReport
false
dei Entity File Number
EntityFileNumber
001-38388
dei Entity Registrant Name
EntityRegistrantName
Victory Capital Holdings, Inc.
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
dei Entity Tax Identification Number
EntityTaxIdentificationNumber
32-0402956
dei Entity Address Address Line1
EntityAddressAddressLine1
15935 La Cantera Parkway
dei Entity Address City Or Town
EntityAddressCityOrTown
San Antonio
dei Entity Address State Or Province
EntityAddressStateOrProvince
TX
dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
78256
dei City Area Code
CityAreaCode
216
dei Local Phone Number
LocalPhoneNumber
898-2400
CY2022Q2 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
685543000
CY2021Q4 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
673572000
CY2021Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
8579593
CY2022Q2 us-gaap Treasury Stock Value
TreasuryStockValue
193701000
CY2021Q4 us-gaap Treasury Stock Value
TreasuryStockValue
153200000
CY2022Q2 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
27175000
CY2021Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
5972000
CY2022Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
518380000
CY2021Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
402811000
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
1038181000
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
929927000
CY2022Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
2567570000
CY2021Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
2579746000
CY2022Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
216006000
CY2021Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
221904000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
446025000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
434853000
CY2022Q2 us-gaap Salaries Wages And Officers Compensation
SalariesWagesAndOfficersCompensation
57582000
CY2021Q2 us-gaap Salaries Wages And Officers Compensation
SalariesWagesAndOfficersCompensation
57462000
us-gaap Salaries Wages And Officers Compensation
SalariesWagesAndOfficersCompensation
122483000
us-gaap Salaries Wages And Officers Compensation
SalariesWagesAndOfficersCompensation
116468000
CY2022Q2 us-gaap Expense Related To Distribution Or Servicing And Underwriting Fees
ExpenseRelatedToDistributionOrServicingAndUnderwritingFees
40868000
CY2021Q2 us-gaap Expense Related To Distribution Or Servicing And Underwriting Fees
ExpenseRelatedToDistributionOrServicingAndUnderwritingFees
44223000
us-gaap Expense Related To Distribution Or Servicing And Underwriting Fees
ExpenseRelatedToDistributionOrServicingAndUnderwritingFees
84452000
us-gaap Expense Related To Distribution Or Servicing And Underwriting Fees
ExpenseRelatedToDistributionOrServicingAndUnderwritingFees
86326000
CY2022Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
13921000
CY2021Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
13713000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
26683000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
27023000
CY2022Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
10758000
CY2021Q2 vctr Change In Value Of Consideration Payable For Acquisition Of Business
ChangeInValueOfConsiderationPayableForAcquisitionOfBusiness
5700000
vctr Change In Value Of Consideration Payable For Acquisition Of Business
ChangeInValueOfConsiderationPayableForAcquisitionOfBusiness
-30100000
vctr Change In Value Of Consideration Payable For Acquisition Of Business
ChangeInValueOfConsiderationPayableForAcquisitionOfBusiness
8200000
CY2022Q2 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
143000
CY2021Q2 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
422000
us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
260000
CY2021Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
4694000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
21365000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
9079000
CY2022Q2 vctr Change In Value Of Consideration Payable For Acquisition Of Business
ChangeInValueOfConsiderationPayableForAcquisitionOfBusiness
-26600000
us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
258000
CY2022Q2 us-gaap Restructuring And Related Cost Incurred Cost
RestructuringAndRelatedCostIncurredCost
8000
CY2021Q2 us-gaap Restructuring And Related Cost Incurred Cost
RestructuringAndRelatedCostIncurredCost
422000
us-gaap Restructuring And Related Cost Incurred Cost
RestructuringAndRelatedCostIncurredCost
17000
us-gaap Restructuring And Related Cost Incurred Cost
RestructuringAndRelatedCostIncurredCost
2475000
CY2022Q2 us-gaap Operating Expenses
OperatingExpenses
96680000
CY2021Q2 us-gaap Operating Expenses
OperatingExpenses
126636000
us-gaap Operating Expenses
OperatingExpenses
225160000
us-gaap Operating Expenses
OperatingExpenses
249829000
CY2022Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
119326000
CY2021Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
95268000
us-gaap Operating Income Loss
OperatingIncomeLoss
220865000
us-gaap Operating Income Loss
OperatingIncomeLoss
185024000
CY2022Q2 us-gaap Investment Income Net
InvestmentIncomeNet
-3443000
CY2021Q2 us-gaap Investment Income Net
InvestmentIncomeNet
1932000
us-gaap Investment Income Net
InvestmentIncomeNet
-3650000
us-gaap Investment Income Net
InvestmentIncomeNet
4666000
CY2022Q2 us-gaap Financing Interest Expense
FinancingInterestExpense
9925000
CY2021Q2 us-gaap Financing Interest Expense
FinancingInterestExpense
6155000
us-gaap Financing Interest Expense
FinancingInterestExpense
19158000
us-gaap Financing Interest Expense
FinancingInterestExpense
13000000
CY2022Q2 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-963000
CY2021Q2 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-1146000
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-2518000
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-3927000
CY2022Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-14331000
CY2021Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-5369000
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-25326000
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-12261000
CY2022Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
104995000
CY2021Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
89899000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
195539000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
172763000
CY2022Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
25790000
CY2021Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
20629000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
38291000
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
79205000
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
69270000
us-gaap Net Income Loss
NetIncomeLoss
150478000
us-gaap Net Income Loss
NetIncomeLoss
134472000
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.16
CY2021Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.02
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.19
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.98
CY2022Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.09
CY2021Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.93
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.05
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.81
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
68521000
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
67776000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
68633000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
45061000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
67769000
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
72867000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
73265000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
74155000
CY2022Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.25
CY2021Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.12
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.50
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.21
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
79205000
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
69270000
us-gaap Net Income Loss
NetIncomeLoss
150478000
us-gaap Net Income Loss
NetIncomeLoss
134472000
CY2022Q2 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax
5214000
CY2021Q2 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax
-2971000
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax
21490000
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax
7802000
CY2022Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-210000
CY2021Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
11000
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-287000
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
9000
CY2022Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
5004000
CY2021Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-2960000
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
21203000
CY2022Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
84209000
CY2021Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
66310000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
171681000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
142283000
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
929927000
CY2022Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
69000
CY2022Q1 us-gaap Treasury Stock Retired Cost Method Amount
TreasuryStockRetiredCostMethodAmount
9437000
CY2022Q1 vctr Shares Withheld Related To Net Settlement Of Equity Awards
SharesWithheldRelatedToNetSettlementOfEquityAwards
9317000
CY2022Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
1233000
CY2022Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
16199000
CY2022Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
3945000
CY2022Q1 us-gaap Dividends
Dividends
17618000
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
71273000
CY2022Q1 us-gaap Stockholders Equity
StockholdersEquity
986274000
CY2022Q2 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
80000
CY2022Q2 us-gaap Treasury Stock Retired Cost Method Amount
TreasuryStockRetiredCostMethodAmount
16908000
CY2022Q2 vctr Shares Withheld Related To Net Settlement Of Equity Awards
SharesWithheldRelatedToNetSettlementOfEquityAwards
4839000
CY2022Q2 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
1691000
CY2022Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
5004000
CY2022Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
4965000
CY2022Q2 us-gaap Dividends
Dividends
17291000
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
79205000
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
1038181000
CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
707541000
CY2021Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
44000
CY2021Q1 us-gaap Treasury Stock Retired Cost Method Amount
TreasuryStockRetiredCostMethodAmount
7122000
CY2021Q1 vctr Shares Withheld Related To Net Settlement Of Equity Awards
SharesWithheldRelatedToNetSettlementOfEquityAwards
10916000
CY2021Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
790000
CY2021Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
10771000
CY2021Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
5547000
CY2021Q1 us-gaap Dividends
Dividends
6481000
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
65202000
CY2021Q1 us-gaap Stockholders Equity
StockholdersEquity
765376000
CY2021Q2 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
53000
CY2021Q2 us-gaap Treasury Stock Retired Cost Method Amount
TreasuryStockRetiredCostMethodAmount
8324000
CY2021Q2 vctr Shares Withheld Related To Net Settlement Of Equity Awards
SharesWithheldRelatedToNetSettlementOfEquityAwards
4929000
CY2021Q2 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
1553000
CY2021Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-2960000
CY2021Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
4345000
CY2021Q2 us-gaap Dividends
Dividends
8228000
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
69270000
CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
74166000
CY2021Q2 us-gaap Stockholders Equity
StockholdersEquity
816156000
us-gaap Profit Loss
ProfitLoss
150478000
us-gaap Profit Loss
ProfitLoss
134472000
us-gaap Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
21033000
us-gaap Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
10623000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
21365000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
9079000
vctr Deferred Financing Costs And Derivative And Accretion Expense
DeferredFinancingCostsAndDerivativeAndAccretionExpense
2296000
vctr Deferred Financing Costs And Derivative And Accretion Expense
DeferredFinancingCostsAndDerivativeAndAccretionExpense
1844000
us-gaap Employee Benefits And Share Based Compensation Noncash
EmployeeBenefitsAndShareBasedCompensationNoncash
6995000
us-gaap Employee Benefits And Share Based Compensation Noncash
EmployeeBenefitsAndShareBasedCompensationNoncash
16476000
us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
-30100000
us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
8200000
us-gaap Increase Decrease In Trading Securities
IncreaseDecreaseInTradingSecurities
-4089000
us-gaap Increase Decrease In Trading Securities
IncreaseDecreaseInTradingSecurities
4530000
vctr Noncash Lease Expense
NoncashLeaseExpense
196000
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-66000
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-157000
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-2518000
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-3927000
us-gaap Increase Decrease In Accounts Receivable And Other Operating Assets
IncreaseDecreaseInAccountsReceivableAndOtherOperatingAssets
-13419000
us-gaap Increase Decrease In Accounts Receivable And Other Operating Assets
IncreaseDecreaseInAccountsReceivableAndOtherOperatingAssets
10300000
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
1107000
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
86000
vctr Increase Decrease In Accounts Payable And Accrued Expenses Excluding Employee Benefits
IncreaseDecreaseInAccountsPayableAndAccruedExpensesExcludingEmployeeBenefits
-16677000
vctr Increase Decrease In Accounts Payable And Accrued Expenses Excluding Employee Benefits
IncreaseDecreaseInAccountsPayableAndAccruedExpensesExcludingEmployeeBenefits
5707000
us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
-8483000
us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
-10886000
us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
-947000
us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
-449000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
165055000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
164172000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2910000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
5567000
us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
10043000
us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
5563000
us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
8181000
us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
4020000
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
148000
vctr Proceeds From Payments In Equity Method Investment
ProceedsFromPaymentsInEquityMethodInvestment
-1500000
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
880000
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
207000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-7152000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-7317000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
3073000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
2440000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
29363000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
17689000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
8556000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
11083000
us-gaap Repayments Of Senior Debt
RepaymentsOfSeniorDebt
115000000
us-gaap Repayments Of Senior Debt
RepaymentsOfSeniorDebt
107000000
us-gaap Payments Of Dividends
PaymentsOfDividends
34739000
us-gaap Payments Of Dividends
PaymentsOfDividends
14638000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-184585000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-147970000
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-133000
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-7000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-26815000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
8878000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
69533000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
22744000
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
42718000
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
31622000
us-gaap Interest Paid Net
InterestPaidNet
14480000
us-gaap Interest Paid Net
InterestPaidNet
10567000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
23154000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
34181000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
2991000
us-gaap Nature Of Operations
NatureOfOperations
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:0%;font-weight:bold;color:#000000;font-size:10pt;text-transform:uppercase;font-family:Times New Roman;font-style:normal;font-variant: normal;"><span style="Background-color:#FFFFFF;">NOTE 1. ORGANIZATION AND NATURE OF BUSINESS</span></p> <p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:0%;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><span style="Background-color:#FFFFFF;">Victory Capital Holdings, Inc., a Delaware corporation (along with its wholly-owned subsidiaries, collectively referred to as the “Company,” “Victory,” or in the first-person notations of “we,” “us,” and “our”), was formed on February 13, 2013 for the purpose of acquiring Victory Capital Management Inc. (“VCM”) and Victory Capital Services, Inc. (“VCS”), formerly known as Victory Capital Advisers, Inc., which occurred on August 1, 2013. On February 12, 2018, the Company completed the initial public offering (the “IPO”) of its Class A common stock, which trades on the NASDAQ under the symbol “VCTR.”</span></p> <p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;text-indent:0%;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">On and effective July 1, 2019, the Company completed the acquisition (the “USAA AMCO Acquisition” or “USAA AMCO”) of USAA Asset Management Company (“USAA Adviser”) and Victory Capital Transfer Agency, Inc. (“VCTA”), formerly known as the USAA Transfer Agency Company d/b/a USAA Shareholder Account Services. The USAA AMCO Acquisition includes USAA’s mutual fund and exchange traded fund (“ETF”) businesses and its 529 Education Savings Plan (collectively, the “USAA Mutual Fund Business”). Refer to Note 4, Acquisitions, for further details on the acquisition.  </p> <p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;text-indent:0%;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">VCM is a registered investment adviser managing assets through mutual funds, institutional separate accounts, separately managed account products, unified managed account products, third-party ETF model strategies, collective trust funds, private funds, undertakings for the collective investment in transferrable securities, other pooled vehicles and ETFs. VCM also provides mutual fund administrative services for the Victory Portfolios, Victory Variable Insurance Funds and the mutual fund series of the Victory Portfolios II (collectively, the “Victory Funds”), a family of open-end mutual funds, the VictoryShares (the Company’s ETF brand), as well as the USAA Mutual Fund Business, which includes the USAA Mutual Fund Trust, a family of open-end mutual funds (the “USAA Funds”). Additionally, VCM employs all of the Company’s United States investment professionals across its Franchises and Solutions, which are not separate legal entities. VCM’s wholly-owned subsidiaries include RS Investment Management (Singapore) Pte. Ltd., RS Investments (Hong Kong) Limited, RS Investments (UK) Limited, Victory Capital Digital Assets, LLC and NEC Pipeline LLC. VCS is registered with the SEC as an introducing broker-dealer and serves as distributor and underwriter for the Victory Funds, the USAA Funds and the USAA 529 Education Savings Plan as well as placement agent for certain private funds managed by VCM. VCTA is registered with the SEC as a transfer agent for the USAA Funds.</p> <p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;text-indent:0%;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">On March 1, 2021, the Company completed the acquisition of THB Asset Management (“THB”), resulting in THB becoming the Company’s tenth investment franchise. THB manages responsible investment portfolios in the micro-cap, small-cap and mid-cap asset classes, including U.S., global and international strategies. At March 1, 2021, the THB AUM that was acquired totaled $547 million. Refer to Note 4, Acquisitions, for further details on the acquisition.</p> <p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;text-indent:0%;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">On November 1, 2021, the Company completed the acquisition of New Energy Capital Partners (“NEC”), resulting in NEC becoming the Company’s eleventh investment franchise. Founded in <span style="Background-color:#FFFFFF;">2004 and based in Hanover, New Hampshire, NEC is an alternative asset management firm focused on debt and equity investments in clean energy infrastructure projects and companies. At November 1, 2021, the NEC AUM that was acquired totaled $795 million. </span>Refer to Note 4, Acquisitions, for further details on the acquisition.</p> <p style="text-align:justify;margin-bottom:12pt;margin-top:6pt;text-indent:0%;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">On December 31, 2021, the Company completed the acquisition of WestEnd Advisors, LLC (“WestEnd”), resulting in WestEnd becoming the Company’s twelfth investment franchise. <span style="Background-color:#FFFFFF;">Founded in 2004, and headquartered in Charlotte, North Carolina, WestEnd is an ETF strategist advisor that provides financial advisors with a turnkey, core model allocation strategy for either a holistic solution or complementary source of alpha. The firm offers four primary ETF strategies and one large cap core strategy, all in tax efficient Separately Managed Account (SMA) structures. At December 31, 2021, the WestEnd AUM that was acquired totaled $19.3 billion.</span> <span style="Background-color:#FFFFFF;">WestEnd is a wholly-owned subsidiary of Victory Capital Holdings, Inc. and is the Company’s second registered investment adviser. </span>Refer to Note 4, Acquisitions, for further details on the acquisition.</p>
CY2021Q4 us-gaap Assets
Assets
2579746000
CY2022Q1 us-gaap Assets
Assets
2596777000
CY2021Q4 us-gaap Liabilities
Liabilities
1649819000
CY2022Q1 us-gaap Liabilities
Liabilities
1666850000
CY2021Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
2579746000
CY2022Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
2596777000
CY2022Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
216006000
CY2021Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
221904000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
446025000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
434853000
CY2022Q2 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
318000
CY2021Q2 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
276000
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
646000
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
597000
CY2022Q2 us-gaap Interest And Debt Expense
InterestAndDebtExpense
9925000
CY2021Q2 us-gaap Interest And Debt Expense
InterestAndDebtExpense
6155000
us-gaap Interest And Debt Expense
InterestAndDebtExpense
19158000
us-gaap Interest And Debt Expense
InterestAndDebtExpense
13000000
us-gaap Dividends Common Stock
DividendsCommonStock
34900000
us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
34300000
vctr Cash Bonuses And Dividends
CashBonusesAndDividends
600000
CY2022Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5000000.0
CY2021Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4300000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
8900000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
9900000
CY2022Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
79205000
CY2021Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
69270000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
150478000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
134472000
CY2022Q2 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
68521000
CY2021Q2 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
67776000
us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
68633000
us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
67769000
CY2022Q2 us-gaap Incremental Common Shares Attributable To Nonvested Shares With Forfeitable Dividends
IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends
4346000
CY2021Q2 us-gaap Incremental Common Shares Attributable To Nonvested Shares With Forfeitable Dividends
IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends
6390000
us-gaap Incremental Common Shares Attributable To Nonvested Shares With Forfeitable Dividends
IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends
4632000
CY2022Q2 vctr Interest Rate Swap Income Expense
InterestRateSwapIncomeExpense
-52000
CY2021Q2 vctr Interest Rate Swap Income Expense
InterestRateSwapIncomeExpense
-874000
vctr Interest Rate Swap Income Expense
InterestRateSwapIncomeExpense
-901000
vctr Interest Rate Swap Income Expense
InterestRateSwapIncomeExpense
-1692000
CY2022Q2 us-gaap Interest Expense Other
InterestExpenseOther
120000
CY2021Q2 us-gaap Interest Expense Other
InterestExpenseOther
72000
us-gaap Interest Expense Other
InterestExpenseOther
213000
us-gaap Interest Expense Other
InterestExpenseOther
187000
us-gaap Incremental Common Shares Attributable To Nonvested Shares With Forfeitable Dividends
IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends
6386000
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
72867000
CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
74166000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
73265000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
74155000
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.16
CY2021Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.02
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.19
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.98
CY2022Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.09
CY2021Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.93
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.05
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.81
CY2022Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
500000

Files In Submission

Name View Source Status
0001564590-22-028314-index-headers.html Edgar Link pending
0001564590-22-028314-index.html Edgar Link pending
0001564590-22-028314.txt Edgar Link pending
0001564590-22-028314-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
gauyojwbtvu0000001.jpg Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
R41.htm Edgar Link pending
R42.htm Edgar Link pending
R43.htm Edgar Link pending
R44.htm Edgar Link pending
R45.htm Edgar Link pending
R46.htm Edgar Link pending
R47.htm Edgar Link pending
R48.htm Edgar Link pending
R49.htm Edgar Link pending
R5.htm Edgar Link pending
R50.htm Edgar Link pending
R51.htm Edgar Link pending
R52.htm Edgar Link pending
R53.htm Edgar Link pending
R54.htm Edgar Link pending
R55.htm Edgar Link pending
R56.htm Edgar Link pending
R57.htm Edgar Link pending
R58.htm Edgar Link pending
R59.htm Edgar Link pending
R6.htm Edgar Link pending
R60.htm Edgar Link pending
R61.htm Edgar Link pending
R62.htm Edgar Link pending
R63.htm Edgar Link pending
R64.htm Edgar Link pending
R65.htm Edgar Link pending
R66.htm Edgar Link pending
R67.htm Edgar Link pending
R68.htm Edgar Link pending
R69.htm Edgar Link pending
R7.htm Edgar Link pending
R70.htm Edgar Link pending
R71.htm Edgar Link pending
R72.htm Edgar Link pending
R73.htm Edgar Link pending
R74.htm Edgar Link pending
R75.htm Edgar Link pending
R76.htm Edgar Link pending
R77.htm Edgar Link pending
R78.htm Edgar Link pending
R79.htm Edgar Link pending
R8.htm Edgar Link pending
R80.htm Edgar Link pending
R81.htm Edgar Link pending
R82.htm Edgar Link pending
R83.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending
vctr-10q_20220630.htm Edgar Link pending
vctr-20220630.xsd Edgar Link pending
vctr-ex311_9.htm Edgar Link pending
vctr-ex312_10.htm Edgar Link pending
vctr-ex321_8.htm Edgar Link pending
vctr-ex322_7.htm Edgar Link pending
vctr-20220630_lab.xml Edgar Link unprocessable
vctr-20220630_def.xml Edgar Link unprocessable
vctr-20220630_cal.xml Edgar Link unprocessable
vctr-20220630_pre.xml Edgar Link unprocessable
vctr-10q_20220630_htm.xml Edgar Link completed
FilingSummary.xml Edgar Link unprocessable