$VRTS
Virtus Investment Partners Inc

2021 Q2 Form 10-Q Financial Statement

#000088323721000221 Filed on August 06, 2021

View on sec.gov

Income Statement

Concept 2021 Q2 2020 Q2
Revenue $244.0M $132.9M
YoY Change 83.61% -5.41%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $123.7M
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $981.0K $1.196M
YoY Change -17.98% -5.9%
% of Gross Profit
Operating Expenses $157.6M $106.3M
YoY Change 48.3% -3.71%
Operating Profit $86.41M $26.62M
YoY Change 224.58% -11.64%
Interest Expense $6.020M -$2.400M
YoY Change -350.83% -59.29%
% of Operating Profit 6.97% -9.02%
Other Income/Expense, Net $6.067M -$435.0K
YoY Change -1494.71% -103.49%
Pretax Income $98.50M $23.79M
YoY Change 314.08% -35.16%
Income Tax $22.40M $7.578M
% Of Pretax Income 22.74% 31.86%
Net Earnings $76.10M $11.28M
YoY Change 574.68% -58.11%
Net Earnings / Revenue 31.19% 8.49%
Basic Earnings Per Share $8.18 $1.46
Diluted Earnings Per Share $7.86 $1.43
COMMON SHARES
Basic Shares Outstanding 7.698M shares 7.720M shares
Diluted Shares Outstanding 8.007M shares 7.895M shares

Balance Sheet

Concept 2021 Q2 2020 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $357.2M
YoY Change
Cash & Equivalents $405.9M $252.1M
Short-Term Investments $81.78M
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $120.1M
Other Receivables $0.00
Total Short-Term Assets $477.3M
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $12.90M $16.07M
YoY Change -19.74% -20.03%
Goodwill $315.4M $290.4M
YoY Change 8.61% 0.0%
Intangibles $380.8M $295.3M
YoY Change 28.95% -9.24%
Long-Term Investments $130.4M
YoY Change
Other Assets $104.1M
YoY Change
Total Long-Term Assets $3.215B
YoY Change
TOTAL ASSETS
Total Short-Term Assets $477.3M
Total Long-Term Assets $3.215B
Total Assets $3.693B $3.340B
YoY Change 10.56% 8.91%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $45.76M
YoY Change
Accrued Expenses $96.51M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $288.5M
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt $2.322B
YoY Change
Other Long-Term Liabilities $160.7M
YoY Change
Total Long-Term Liabilities $2.483B
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $288.5M
Total Long-Term Liabilities $2.483B
Total Liabilities $2.771B $2.583B
YoY Change 7.3% 10.26%
SHAREHOLDERS EQUITY
Retained Earnings -$35.70M -$208.2M
YoY Change -82.85% -20.58%
Common Stock $1.281B $1.303B
YoY Change -1.72% 8.22%
Preferred Stock
YoY Change
Treasury Stock (at cost) $464.2M $436.7M
YoY Change 6.3% 8.71%
Treasury Stock Shares 4.254M shares 4.113M shares
Shareholders Equity $780.9M $658.2M
YoY Change
Total Liabilities & Shareholders Equity $3.693B $3.340B
YoY Change 10.56% 8.91%

Cashflow Statement

Concept 2021 Q2 2020 Q2
OPERATING ACTIVITIES
Net Income $76.10M $11.28M
YoY Change 574.68% -58.11%
Depreciation, Depletion And Amortization $981.0K $1.196M
YoY Change -17.98% -5.9%
Cash From Operating Activities $239.2M
YoY Change
INVESTING ACTIVITIES
Capital Expenditures -$4.336M
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$1.191M
YoY Change
Cash From Investing Activities -$5.527M
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -167.6M
YoY Change
NET CHANGE
Cash From Operating Activities 239.2M
Cash From Investing Activities -5.527M
Cash From Financing Activities -167.6M
Net Change In Cash 66.01M
YoY Change
FREE CASH FLOW
Cash From Operating Activities $239.2M
Capital Expenditures -$4.336M
Free Cash Flow $243.5M
YoY Change

Facts In Submission

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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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7895000 shares
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1000 shares
us-gaap Effective Income Tax Rate Continuing Operations
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RedeemableNoncontrollingInterestEquityRedemptionValue
115513000 USD
us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
NetIncomeLossAttributableToRedeemableNoncontrollingInterest
5005000 USD
us-gaap Temporary Equity Net Income
TemporaryEquityNetIncome
28411000 USD
vrts Noncontrolling Interest Subscriptions Redemptions
NoncontrollingInterestSubscriptionsRedemptions
-12399000 USD
CY2021Q2 us-gaap Redeemable Noncontrolling Interest Equity Redemption Value
RedeemableNoncontrollingInterestEquityRedemptionValue
131525000 USD
CY2021Q2 us-gaap Derivative Assets
DerivativeAssets
0 USD
CY2021Q2 us-gaap Derivative Liabilities
DerivativeLiabilities
0 USD

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