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Get filing alertsVirtu markets $400M term loan add-on; discloses Q2 prelim net income $285M, EPS $1.63
Filed July 14, 2026 · Period ending July 14, 2026 · ~1 min read
Key Changes
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Virtu commenced marketing $400M incremental term loan under its senior secured credit facility, increasing total term loan balance to $1.93B. Proceeds for general corporate purposes; net leverage unchanged at 0.7x.
Item 7.01 — Regulation FD Disclosure verify on EDGAR → -
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Preliminary Q2 2026 results: net income $285M ($1.63 EPS), normalized adjusted net income $292M ($1.82 EPS), adjusted net trading income $718M ($11.6M daily avg), adjusted EBITDA $437M. Final results due July 30.
Item 2.02 — Results of Operations and Financial Condition verify on EDGAR → -
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Preliminary Q2 figures unaudited and subject to material revision; company has not completed normal quarterly closing procedures. Independent accountants have not reviewed or expressed any assurance on these estimates.
Item 2.02 — Results of Operations and Financial Condition verify on EDGAR → -
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Pro forma gross debt-to-EBITDA rises from 1.3x to 1.5x post-upsize; total debt increases to $2.45B with annual interest expense rising from $133M to $158M. Term loan priced at SOFR+2.50%, matures June 2031.
Item 7.01 — Regulation FD Disclosure verify on EDGAR →
Summary
Virtu Financial disclosed preliminary second-quarter 2026 results in connection with marketing a $400 million add-on to its existing term loan facility. The preliminary figures show net income of $285 million and normalized adjusted EPS of $1.82, with adjusted net trading income of $718 million averaging $11.6 million daily.
The company emphasized these are unaudited estimates subject to material revision when final results are reported July 30, 2026. The $400 million incremental term loan would increase Virtu's total term loan balance to $1.93 billion under its senior secured credit facility. Proceeds are designated for general corporate purposes.
While gross debt-to-EBITDA increases from 1.3x to 1.5x, the company states net leverage remains at 0.7x because the cash proceeds offset the additional debt. Annual interest expense rises from $133 million to $158 million. The term loan is priced at SOFR+2.50% and matures in June 2031. For retail holders, the key watch is whether final Q2 results materially differ from these preliminary estimates, and how management deploys the $400 million in proceeds beyond the generic "general corporate purposes" disclosure. The unchanged net leverage calculation assumes the cash sits on the balance sheet; actual use will determine whether leverage rises.
Section-by-Section Diff
Event · Item 2.02 — Results of Operations and Financial Condition
Virtu Financial issued preliminary Q2 2026 results; final figures subject to adjustment.
Added in current filing · verify on EDGAR →
On July 14, 2026, Virtu Financial, Inc. (the “Company”) issued a press release setting forth its preliminary estimates of its results of operations for the quarter ended June 30, 2026. The preliminary estimated results are subject to adjustment and finalization by the Company.
The company disclosed preliminary financial results for the second quarter ended June 30, 2026. These estimates are not final and may be revised before the company reports audited results. The 8-K does not provide specific figures; those would be in the press release exhibit.
Event · Item 7.01 — Regulation FD Disclosure
Virtu Financial disclosed a presentation regarding potential upsizing of its term loans under its senior secured credit facility.
Added in current filing · verify on EDGAR →
The Company plans to make a presentation in connection with the potential upsizing of its term loans under its senior secured credit facility (the “Presentation”), a copy of which is attached as Exhibit 99.2 to this Current Report on Form 8-K
Virtu Financial disclosed it is considering increasing the size of its term loans under its existing senior secured credit facility. The company has prepared a presentation for potential lenders and investors regarding this potential debt upsizing. The presentation is attached as an exhibit and will be used in discussions with analysts, investors, and other stakeholders.
Event · Exhibit 99.1
Added in current filing · view on EDGAR →
The preliminary financial and other data set forth above has been prepared by, and is the responsibility of our management. The foregoing information and estimates have not been compiled or examined by our independent registered public accounting firm nor have our independent registered public accounting firm performed any procedures with respect to this information or expressed any opinion or any form of assurance of such information. In addition, the foregoing information and estimates are subject to revision as we prepare our consolidated financial statements and other disclosures as of and for the three months ended June 30, 2026, including all disclosures required by U.S. GAAP. Because we have not completed our normal quarterly closing and review procedures for the three months ended June 30, 2026, and subsequent events may occur that require material adjustments to these results, the final results and other disclosures for the three months ended June 30, 2026, may differ materially from these estimates.
The company emphasized that the Q2 2026 figures are preliminary estimates that have not been audited or reviewed by independent accountants. Final results may differ materially as the company has not completed its normal quarterly closing procedures. Actual results will be reported on July 30, 2026, with a Form 10-Q filing due by August 10, 2026.
Event · Exhibit 99.2
Added in current filing · view on EDGAR →
Normalized Adj. EPS1 $1.82 2Q 2026 Key Financials Summary Recent Results Adj. NTI1 $718M Adj. NTI/day1 $11.6M Adj. EBITDA1 $437M Adj. EBITDA Margin1,2 61%
Virtu disclosed preliminary Q2 2026 results showing Adjusted Net Trading Income of $718 million ($11.6M per day), Adjusted EBITDA of $437 million with a 61% margin, and Normalized Adjusted EPS of $1.82. These results reflect continued strong performance in the company's market-making and execution services businesses.
Added in current filing · view on EDGAR → · paraphrased
1Q'26 Total Adjusted Net Trading Income1 $787 Daily Average Adj. NTI 1 $12.9 Market Making Adj. NTI1 $637 Market Making Daily Average Adj. NTI 1 $10.4 Execution Services Adj. NTI1 $149 Execution Services Daily Average Adj. NTI 1 $2.5 Adjusted EBITDA1 $521 Adjusted EBITDA Margin 1,2 66% Normalized Adjusted EPS1 $2.24
Q1 2026 results showed Adjusted Net Trading Income of $787 million ($12.9M daily average), with Market Making contributing $637 million and Execution Services $149 million. Adjusted EBITDA was $521 million with a 66% margin, and Normalized Adjusted EPS was $2.24. These represent strong year-over-year growth of 63% in Adjusted EBITDA and 72% in Normalized Adjusted EPS compared to Q1 2025.
Added in current filing · view on EDGAR →
First Lien Term Loan - Floating2 Jun 2031 S + 2.50% $1,530 $94 $1,930 $119 First Lien Notes Jun 2031 7.50% $500 $38 $500 $38 Japannext3 Jan 2026 5.00% $22 $1 $22 $1 Total4 $2,052 $133 $2,452 $158 LTM Adjusted EBITDA1 $1,600 $1,600 Debt / LTM Adjusted EBITDA1 1.3x 1.5x
After the $400 million Term Loan B upsize, Virtu's total debt will increase from $2.05 billion to $2.45 billion, with annual interest expense rising from $133 million to $158 million. The gross debt-to-EBITDA ratio will increase from 1.3x to 1.5x, though net leverage remains at 0.7x due to the cash proceeds.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jul 16, 2026 · How we verify