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Condensed Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Revenues        
Revenues $ 216,385 $ 227,029 $ 644,842 $ 673,455
Operating Expenses        
Employment expenses 98,807 105,555 305,930 326,385
Distribution and other asset-based expenses 22,034 24,175 66,905 72,218
Change in fair value of contingent consideration 0 (4,000) (3,014) (7,300)
Restructuring expense 693 0 693 1,487
Depreciation expense 1,922 2,330 6,273 6,628
Amortization expense 12,945 12,883 38,833 43,416
Total operating expenses 169,325 171,771 515,977 541,686
Operating Income (Loss) 47,060 55,258 128,865 131,769
Other Income (Expense)        
Other income (expense), net 536 548 2,671 1,695
Total other income (expense), net (12,120) (28) (19,858) (8,419)
Interest Income (Expense)        
Total interest income (expense), net 9,509 9,671 30,990 26,019
Income (Loss) Before Income Taxes 44,449 64,901 139,997 149,369
Income tax expense (benefit) 13,108 15,797 37,861 36,376
Net Income (Loss) 31,341 49,104 102,136 112,993
Noncontrolling interests 585 (8,124) 810 (24,541)
Net Income (Loss) Attributable to Virtus Investment Partners, Inc. $ 31,926 $ 40,980 $ 102,946 $ 88,452
Earnings (Loss) per Share—Basic (in dollars per share) $ 4.73 $ 5.80 $ 15.02 $ 12.45
Earnings (Loss) per Share—Diluted (in dollars per share) $ 4.65 $ 5.71 $ 14.81 $ 12.23
Weighted Average Shares Outstanding—Basic (in shares) 6,757 7,071 6,854 7,105
Weighted Average Shares Outstanding—Diluted (in shares) 6,867 7,176 6,953 7,234
Consolidated Entity excluding Consolidated Investment Products        
Operating Expenses        
Other operating expenses $ 32,428 $ 30,363 $ 98,051 $ 94,788
Other Income (Expense)        
Realized and unrealized gain (loss) on investments, net 2,257 4,552 5,237 6,415
Interest Income (Expense)        
Interest expense (5,299) (5,807) (14,442) (17,099)
Interest and dividend income 2,200 2,913 7,270 9,025
Consolidated Investment Products        
Operating Expenses        
Other operating expenses 496 465 2,306 4,064
Other Income (Expense)        
Realized and unrealized gain (loss) on investments, net (14,913) (5,128) (27,766) (16,529)
Interest Income (Expense)        
Interest expense (33,310) (38,063) (101,346) (120,035)
Interest and dividend income 45,918 50,628 139,508 154,128
Investment management fees        
Revenues        
Revenues 183,762 193,843 549,329 573,855
Distribution and service fees        
Revenues        
Revenues 12,517 13,567 37,238 41,007
Administration and shareholder service fees        
Revenues        
Revenues 18,869 18,560 54,924 55,546
Other income and fees        
Revenues        
Revenues $ 1,237 $ 1,059 $ 3,351 $ 3,047