Revenue Recognition (Tables)

9 Months Ended

Sep. 30, 2024

Revenue from Contract with Customer [Abstract]

Schedule of Disaggregation of Revenue by Type and Product

In accordance with revenue recognition standard requirements, the following table disaggregates our revenue by type and product:

	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands)	2024		2023		2024		2023
Investment management fees
Mutual funds (Victory Funds)	$	119,936	$	112,816	$	351,659	$	330,921
ETFs (VictoryShares)		6,355		5,200		17,049		15,901
Separate accounts and other vehicles		49,483		44,736		145,856		129,971
Performance-based fees
Mutual funds (Victory Funds III)		1,924		1,087		5,896		3,489
Separate accounts and other vehicles		111		114		297		(83	)
Total investment management fees		177,809		163,953		520,757		480,199
Fund administration and distribution fees
Administration fees
Mutual funds (Victory Funds)	$	27,666	$	25,644	$	80,775	$	74,947
ETFs (VictoryShares)		897		725		2,413		2,159
Distribution fees
Mutual funds (Victory Funds)		5,641		5,648		16,773		16,978
Transfer agent fees
Mutual funds (Victory Funds III)		13,615		13,718		40,388		40,951
Total fund administration and distribution fees		47,819		45,735		140,349		135,035
Total revenue	$	225,628	$	209,688	$	661,106	$	615,234

Schedule of Balances of Receivables from Contracts with Customers

The following table presents balances of receivables:

(in thousands)	September 30, 2024		December 31, 2023
Customer receivables
Mutual funds (Victory Funds)	$	57,391	$	55,858
ETFs (VictoryShares)		2,603		2,079
Separate accounts and other vehicles		34,344		28,189
Receivables from contracts with customers		94,338		86,126
Non-customer receivables		2,584		1,444
Total receivables	$	96,922	$	87,570