Virtu Financial reported net income of $280.6 million for the quarter ended December 31, 2025, up from $176.1 million a year earlier. Adjusted Net Trading Income rose 34.0% to $613.4 million, driven by a 22.2% increase in trading income, net, to $664.9 million. Total revenues climbed 16.3% to $969.9 million, with Market Making contributing $803.4 million and Execution Services $158.2 million. The firm’s adjusted EBITDA surged 55.9% to $442.0 million, reflecting a 72.1% margin, up from 34.0% in Q4 2024, underscoring continued efficiency in electronic market–making operations.

For the full year, Virtu posted net income of $912.3 million, a 70.7% increase over 2024, and normalized adjusted net income of $913.5 million. Total revenues jumped 26.2% to $3.63 billion, with trading income, net, up 33.7% to $2.44 billion. Adjusted Net Trading Income reached $2.15 billion, a 34.3% uplift, while adjusted EBITDA expanded 52.3% to $1.40 billion, resulting in a 65.2% margin. Basic and diluted earnings per share improved to $5.14 and $5.13 respectively, compared to $2.98 and $2.97 last year, reflecting strong profit leverage on rising volumes.

The board declared a quarterly cash dividend of $0.24 per share payable March 16, 2026, reinforcing Virtu’s commitment to returning capital. During 2025, the company repurchased $135.3 million of its own shares, roughly 3.5 million shares, under its repurchase program. As of December 31, 2025, Virtu held $1.13 billion in cash, cash equivalents and restricted cash against $2.07 billion of long-term debt, maintaining a solid liquidity position to support market-making activities and strategic growth investments.