Q2 2025 Victory Capital Holdings Inc Earnings Call Transcript
Key Points
- Total client assets increased by 76% quarter-over-quarter, reaching a record high of over $300 billion.
- Adjusted EBITDA was $179 million with a margin of 50.8%, slightly higher than anticipated.
- Successful acquisition and integration of Amundi US business, enhancing size, scale, and diversification.
- Launch of new ETFs, including the VictoryShares Pioneer Asset-based income ETF, expanding product range.
- Board authorized an increase in the share repurchase plan to $500 million, the largest in company history.
- Net outflows were $660 million, despite improvements in long-term flows.
- GAAP results included $53 million of acquisition-related restructuring and integration costs.
- Realized fee rate decreased to 49.4 basis points, with expectations to further decrease to 46-47 basis points.
- Closure of NewBridge, Sofas, and THB investment franchises, managing less than $1 billion of AUM.
- Ongoing integration costs and noncash compensation expenses related to the Amundi transaction.
Good morning and welcome to the Victory Capital second-quarter 2025 earnings conference call.
(Operator Instructions) Following the company's prepared remarks, there will be a question-and-answer session. I will now turn the call over to Mr. Matthew Dennis, Chief of Staff and Director of Investor Relations.
Please go ahead, Mr. Dennis.
Thank you.
Before I turn the call over to David Brown, I would like to remind you that during today's conference call, we may make a number of forward-looking statements. Mary Capital's actual results may differ materially from these statements. Please refer to our SEC filings for a list of some of the risk factors that may cause actual results to differ materially from those expressed on today's call. Victory Capital assumes no duty and does not undertake any obligation to update any forward-looking statements.
Our press release which was issued after the market closed yesterday, disclose both
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