2021 Q1 Form 10-Q Financial Statement

#000088323721000136 Filed on May 06, 2021

View on sec.gov

Income Statement

Concept 2021 Q1 2020 Q1
Revenue $216.9M $144.6M
YoY Change 50.03% 10.59%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $11.21M $10.88M
YoY Change 3.09% 10.17%
% of Gross Profit
Operating Expenses $154.8M $120.0M
YoY Change 29.0% 9.34%
Operating Profit $62.14M $24.60M
YoY Change 152.59% 17.16%
Interest Expense $7.250M $2.296M
YoY Change 215.77% -38.38%
% of Operating Profit 11.67% 9.33%
Other Income/Expense, Net -$2.025M -$15.60M
YoY Change -87.02% -895.16%
Pretax Income $67.37M $11.30M
YoY Change 496.33% -57.67%
Income Tax $15.15M $10.29M
% Of Pretax Income 22.49% 91.09%
Net Earnings $52.21M -$4.285M
YoY Change -1318.53% -119.7%
Net Earnings / Revenue 24.07% -2.96%
Basic Earnings Per Share $4.79 -$0.58
Diluted Earnings Per Share $4.54 -$0.58
COMMON SHARES
Basic Shares Outstanding 7.633M shares 7.422M shares
Diluted Shares Outstanding 8.052M shares 7.422M shares

Balance Sheet

Concept 2021 Q1 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $399.7M $393.6M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $13.49M $17.15M
YoY Change -21.33% -14.99%
Goodwill $315.4M $290.4M
YoY Change 8.61% 0.0%
Intangibles $391.2M $302.9M
YoY Change 29.17% -8.58%
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $3.702B $3.392B
YoY Change 9.14% 19.22%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities
Total Long-Term Liabilities
Total Liabilities $2.851B $2.638B
YoY Change 8.05% 23.3%
SHAREHOLDERS EQUITY
Retained Earnings -$98.67M -$219.5M
YoY Change -55.05% -24.08%
Common Stock $1.285B $1.305B
YoY Change -1.55% 8.2%
Preferred Stock
YoY Change
Treasury Stock (at cost) $456.7M $429.2M
YoY Change 6.41% 8.88%
Treasury Stock Shares 4.227M shares 4.039M shares
Shareholders Equity $729.4M $656.2M
YoY Change
Total Liabilities & Shareholders Equity $3.702B $3.392B
YoY Change 9.14% 19.22%

Cashflow Statement

Concept 2021 Q1 2020 Q1
OPERATING ACTIVITIES
Net Income $52.21M -$4.285M
YoY Change -1318.53% -119.7%
Depreciation, Depletion And Amortization $11.21M $10.88M
YoY Change 3.09% 10.17%
Cash From Operating Activities $150.2M -$252.3M
YoY Change -159.51% 986.88%
INVESTING ACTIVITIES
Capital Expenditures $2.560M $358.0K
YoY Change 615.08% -86.06%
Acquisitions $0.00
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$2.608M $9.366M
YoY Change -127.85% -547.06%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $4.999M $10.00M
YoY Change -50.01% -33.33%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$87.67M $314.6M
YoY Change -127.86% -1105.89%
NET CHANGE
Cash From Operating Activities $150.2M -$252.3M
Cash From Investing Activities -$2.608M $9.366M
Cash From Financing Activities -$87.67M $314.6M
Net Change In Cash $59.87M $71.69M
YoY Change -16.48% -226.68%
FREE CASH FLOW
Cash From Operating Activities $150.2M -$252.3M
Capital Expenditures $2.560M $358.0K
Free Cash Flow $147.6M -$252.7M
YoY Change -158.41% 880.02%

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Organization and Business<div style="text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Virtus Investment Partners, Inc. (the "Company," "we," "us," "our" or "Virtus"), a Delaware corporation, operates in the investment management industry through its subsidiaries.</span></div><div style="text-indent:36pt"><span><br/></span></div><div style="text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company provides investment management and related services to individuals and institutions. The Company’s retail investment management services are provided to individuals through products consisting of U.S. 1940 Act mutual funds and Undertaking for Collective Investment in Transferable Securities ("UCITS" or "offshore funds" and collectively, with U.S. 1940 Act mutual funds, "open-end funds"), exchange traded funds ("ETFs"), closed-end funds (collectively, with open-end funds and ETFs, "funds") and retail separate accounts. Institutional investment management services are offered through separate accounts and pooled or commingled structures to a variety of institutional clients. The Company also provides subadvisory services to other investment advisers and serves as the collateral manager for structured products.</span></div>
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CY2020Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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CY2021Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2020Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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CY2021Q1 us-gaap Effective Income Tax Rate Continuing Operations
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-18582000 USD
CY2021Q1 us-gaap Redeemable Noncontrolling Interest Equity Redemption Value
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112482000 USD

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