Victory Capital Holdings reported strong financial results for the first quarter ended March 31, 2025, with year-over-year increases in key metrics. Adjusted earnings per diluted share with tax benefit reached $1.36, a 7.0% increase from $1.25 in Q1 2024. Adjusted EBITDA was $116.4 million, up 3.6% year-over-year, with an adjusted EBITDA margin of 53.0%.
Total revenue for the quarter increased by 1.7% year-over-year to $219.6 million, driven by higher average total client assets. GAAP net income rose 11.3% to $62.0 million, or $0.96 per diluted share, compared to $55.7 million, or $0.84 per diluted share, in the same period last year.
As of March 31, 2025, total client assets stood at $171.4 billion, with assets under management (AUM) at $167.5 billion. The company experienced long-term AUM net outflows of $1.2 billion during the quarter, though gross sales increased more than 41% from Q4 2024.
The Board of Directors declared an increase in the quarterly cash dividend to a record high of $0.49 per share, payable in June 2025. This reflects the company's continued commitment to returning excess capital to shareholders.
The multi-faceted transaction with Amundi successfully closed on April 1, 2025, immediately after the quarter end. This acquisition is expected to significantly increase the company's size, scale, and diversification across asset classes, investment vehicles, and geographies, while also enhancing its balance sheet and financial flexibility.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.