$VRTS
Virtus Investment Partners Inc

2024 Q3 Form 10-Q Financial Statement

#000088323724000103 Filed on August 08, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $227.0M $224.4M
YoY Change 3.54% 5.08%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $129.7M $129.4M
YoY Change 3.17% -0.61%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $15.21M $17.47M
YoY Change 911.5% 1.01%
% of Gross Profit
Operating Expenses $175.8M $182.8M
YoY Change 0.8% 0.83%
Operating Profit $55.26M $44.21M
YoY Change 23.06% 13.21%
Interest Expense $13.10M -$3.732M
YoY Change 59.02% -138.51%
% of Operating Profit 23.7% -8.44%
Other Income/Expense, Net $548.0K $597.0K
YoY Change -119.55% -170.48%
Pretax Income $64.90M $37.77M
YoY Change 28.94% -8.08%
Income Tax $15.80M $11.75M
% Of Pretax Income 24.34% 31.1%
Net Earnings $40.98M $17.61M
YoY Change 7.41% -41.79%
Net Earnings / Revenue 18.05% 7.85%
Basic Earnings Per Share $5.80 $2.47
Diluted Earnings Per Share $5.71 $2.43
COMMON SHARES
Basic Shares Outstanding 7.082M shares 7.128M shares
Diluted Shares Outstanding 7.176M shares 7.242M shares

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $305.3M
YoY Change -6.0%
Cash & Equivalents $311.9M $350.7M
Short-Term Investments $122.3M
Other Short-Term Assets $206.9M
YoY Change
Inventory
Prepaid Expenses
Receivables $105.6M
Other Receivables $0.00
Total Short-Term Assets $411.0M
YoY Change -4.21%
LONG-TERM ASSETS
Property, Plant & Equipment $23.33M $25.15M
YoY Change -8.52% 8.25%
Goodwill $397.1M $397.1M
YoY Change 0.0% 0.0%
Intangibles $388.7M $401.6M
YoY Change -14.07% -14.15%
Long-Term Investments $167.7M
YoY Change 7.35%
Other Assets $138.6M
YoY Change -5.92%
Total Long-Term Assets $3.237B
YoY Change 0.63%
TOTAL ASSETS
Total Short-Term Assets $411.0M
Total Long-Term Assets $3.237B
Total Assets $3.602B $3.648B
YoY Change -4.35% 0.06%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $30.28M
YoY Change -23.11%
Accrued Expenses $132.3M
YoY Change 12.39%
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $242.9M
YoY Change -8.69%
LONG-TERM LIABILITIES
Long-Term Debt $2.238B
YoY Change 1.46%
Other Long-Term Liabilities $165.3M
YoY Change -20.03%
Total Long-Term Liabilities $2.403B
YoY Change -0.38%
TOTAL LIABILITIES
Total Short-Term Liabilities $242.9M
Total Long-Term Liabilities $2.403B
Total Liabilities $2.611B $2.646B
YoY Change -6.8% -1.21%
SHAREHOLDERS EQUITY
Retained Earnings $251.3M $226.5M
YoY Change 31.84% 30.19%
Common Stock $1.314B $1.304B
YoY Change 1.41% 1.35%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $889.0M $868.7M
YoY Change
Total Liabilities & Shareholders Equity $3.602B $3.648B
YoY Change -4.35% 0.06%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income $40.98M $17.61M
YoY Change 7.41% -41.79%
Depreciation, Depletion And Amortization $15.21M $17.47M
YoY Change 911.5% 1.01%
Cash From Operating Activities $69.96M
YoY Change -51.77%
INVESTING ACTIVITIES
Capital Expenditures $1.328M
YoY Change 20.73%
Acquisitions
YoY Change
Other Investing Activities -$12.00K
YoY Change -99.99%
Cash From Investing Activities -$1.340M
YoY Change -98.78%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 34.30M
YoY Change -135.86%
NET CHANGE
Cash From Operating Activities 69.96M
Cash From Investing Activities -1.340M
Cash From Financing Activities 34.30M
Net Change In Cash 102.9M
YoY Change -269.55%
FREE CASH FLOW
Cash From Operating Activities $69.96M
Capital Expenditures $1.328M
Free Cash Flow $68.63M
YoY Change -52.32%

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Organization and Business<div style="text-indent:36pt"><span style="color:#000000;font-family:'Calibri',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>The Company provides investment management and related services to institutions and individuals. The Company's investment strategies are offered to institutional clients through institutional separate and commingled accounts, including subadvisory services to other investment advisers and Company sponsored structured products. The Company’s retail investment management services are provided to individuals through products consisting of: mutual funds registered pursuant to the Investment Company Act of 1940, as amended (the "open-end funds") that include U.S. retail funds, exchange-traded funds ("ETFs") and variable insurance funds; Undertaking for Collective Investment in Transferable Securities and Qualifying Investor Funds (collectively, "global funds"); closed-end funds (collectively, with open-end funds, the "funds"); and retail separate accounts that include intermediary-sold and private client accounts.
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Files In Submission

Name View Source Status
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