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10-Q Filing

VICTORY CAPITAL HOLDINGS, INC. CIK: 1570827 Q1 2023
Filing Information
Form Type 10-Q
Accession Number 0000950170-23-018481
Period End Date 20230331
Filing Date 20230508
Fiscal Year 2023
Fiscal Period Q1
XBRL Instance vctr-20230331_htm.xml
Balance Sheet 58 line items
Line Item Tag Value Unit Period
Common stock, par value CommonStockParOrStatedValuePerShare $0.01 USD Point-in-time
Common stock, par value CommonStockParOrStatedValuePerShare $0.01 USD Point-in-time
Common stock, shares authorized CommonStockSharesAuthorized 600.00M shares Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $38.17M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $38.34M USD Point-in-time
Common stock, shares authorized CommonStockSharesAuthorized 600.00M shares Point-in-time
Common stock, shares issued CommonStockSharesIssued 81.51M shares Point-in-time
Receivables AccountsReceivableNet $84.47M USD Point-in-time
Common stock, shares issued CommonStockSharesIssued 80.53M shares Point-in-time
Receivables AccountsReceivableNet $85.37M USD Point-in-time
Common stock, shares outstanding CommonStockSharesOutstanding 66.88M shares Point-in-time
Common stock, shares outstanding CommonStockSharesOutstanding 67.33M shares Point-in-time
Prepaid expenses PrepaidExpenseCurrentAndNoncurrent $8.44M USD Point-in-time
Prepaid expenses PrepaidExpenseCurrentAndNoncurrent $11.56M USD Point-in-time
Treasury stock, shares TreasuryStockShares 13.20M shares Point-in-time
Investments, at fair value DebtSecurities $28.87M USD Point-in-time
Investments, at fair value DebtSecurities $27.27M USD Point-in-time
Treasury stock, shares TreasuryStockShares 14.62M shares Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $21.15M USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $19.65M USD Point-in-time
Goodwill Goodwill $981.80M USD Point-in-time
Goodwill Goodwill $981.80M USD Point-in-time
Other intangible assets, net IntangibleAssetsNetExcludingGoodwill $1.30B USD Point-in-time
Other intangible assets, net IntangibleAssetsNetExcludingGoodwill $1.31B USD Point-in-time
Other assets OtherAssets $64.96M USD Point-in-time
Other assets OtherAssets $57.75M USD Point-in-time
Total assets Assets $2.53B USD Point-in-time
Total assets Assets $2.54B USD Point-in-time
Accounts payable and accrued expenses AccountsPayableAndAccruedLiabilitiesExcludingEmployeeBenefits $58.82M USD Point-in-time
Accounts payable and accrued expenses AccountsPayableAndAccruedLiabilitiesExcludingEmployeeBenefits $50.86M USD Point-in-time
Accrued compensation and benefits AccruedEmployeeBenefitsCurrentAndNoncurrent $58.46M USD Point-in-time
Accrued compensation and benefits AccruedEmployeeBenefitsCurrentAndNoncurrent $42.98M USD Point-in-time
Consideration payable for acquisition of business BusinessCombinationContingentConsiderationLiability $237.80M USD Point-in-time
Consideration payable for acquisition of business BusinessCombinationContingentConsiderationLiability $230.40M USD Point-in-time
Deferred tax liability, net DeferredIncomeTaxLiabilitiesNet $111.22M USD Point-in-time
Deferred tax liability, net DeferredIncomeTaxLiabilitiesNet $108.14M USD Point-in-time
Other liabilities OtherLiabilities $42.45M USD Point-in-time
Other liabilities OtherLiabilities $42.12M USD Point-in-time
Long-term debt, net LongTermDebt $986.44M USD Point-in-time
Long-term debt, net LongTermDebt $985.51M USD Point-in-time
Total liabilities Liabilities $1.48B USD Point-in-time
Total liabilities Liabilities $1.48B USD Point-in-time
Common stock, $0.01 par value per share: 2023 - 600,000,000 shares authorized, 81,505,612 shares issued and 66,880,947 shares outstanding; 2022 - 600,000,000 shares authorized, 80,528,137 shares issued and 67,325,534 shares outstanding CommonStockValue $815.00K USD Point-in-time
Common stock, $0.01 par value per share: 2023 - 600,000,000 shares authorized, 81,505,612 shares issued and 66,880,947 shares outstanding; 2022 - 600,000,000 shares authorized, 80,528,137 shares issued and 67,325,534 shares outstanding CommonStockValue $805.00K USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $705.47M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $711.48M USD Point-in-time
Treasury stock, at cost: 2023 - 14,624,665 shares; 2022 - 13,202,603 shares TreasuryStockValue $329.98M USD Point-in-time
Treasury stock, at cost: 2023 - 14,624,665 shares; 2022 - 13,202,603 shares TreasuryStockValue $285.43M USD Point-in-time
Accumulated other comprehensive income AccumulatedOtherComprehensiveIncomeLossNetOfTax $30.37M USD Point-in-time
Accumulated other comprehensive income AccumulatedOtherComprehensiveIncomeLossNetOfTax $35.44M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $609.12M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $635.87M USD Point-in-time
Total stockholders' equity StockholdersEquity $986.27M USD Point-in-time
Total stockholders' equity StockholdersEquity $929.93M USD Point-in-time
Total stockholders' equity StockholdersEquity $1.07B USD Point-in-time
Total stockholders' equity StockholdersEquity $1.05B USD Point-in-time
Total liabilities and stockholders' equity LiabilitiesAndStockholdersEquity $2.54B USD Point-in-time
Total liabilities and stockholders' equity LiabilitiesAndStockholdersEquity $2.53B USD Point-in-time
Income Statement 44 line items
Line Item Tag Value Unit Period
Total revenue RevenueFromContractWithCustomerExcludingAssessedTax $201.32M USD 1 Quarter
Total revenue RevenueFromContractWithCustomerExcludingAssessedTax $230.02M USD 1 Quarter
Personnel compensation and benefits SalariesWagesAndOfficersCompensation $57.60M USD 1 Quarter
Personnel compensation and benefits SalariesWagesAndOfficersCompensation $64.90M USD 1 Quarter
Distribution and other asset-based expenses ExpenseRelatedToDistributionOrServicingAndUnderwritingFees $43.58M USD 1 Quarter
Distribution and other asset-based expenses ExpenseRelatedToDistributionOrServicingAndUnderwritingFees $37.65M USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $12.39M USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $12.76M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $10.61M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $11.68M USD 1 Quarter
Change in value of consideration payable for acquisition of business ChangeInValueOfConsiderationPayableForAcquisitionOfBusiness $-3.50M USD 1 Quarter
Change in value of consideration payable for acquisition of business ChangeInValueOfConsiderationPayableForAcquisitionOfBusiness $7.40M USD 1 Quarter
Acquisition-related costs BusinessCombinationAcquisitionRelatedCosts $117.00K USD 1 Quarter
Acquisition-related costs BusinessCombinationAcquisitionRelatedCosts $2.00K USD 1 Quarter
Restructuring and integration costs RestructuringAndRelatedCostIncurredCost $29.00K USD 1 Quarter
Restructuring and integration costs RestructuringAndRelatedCostIncurredCost $9.00K USD 1 Quarter
Total operating expenses OperatingExpenses $126.75M USD 1 Quarter
Total operating expenses OperatingExpenses $128.48M USD 1 Quarter
Income from operations OperatingIncomeLoss $101.54M USD 1 Quarter
Income from operations OperatingIncomeLoss $74.56M USD 1 Quarter
Interest income and other income (expense) InvestmentIncomeNet $-207.00K USD 1 Quarter
Interest income and other income (expense) InvestmentIncomeNet $1.54M USD 1 Quarter
Interest expense and other financing costs FinancingInterestExpense $14.24M USD 1 Quarter
Interest expense and other financing costs FinancingInterestExpense $9.23M USD 1 Quarter
Loss on debt extinguishment GainsLossesOnExtinguishmentOfDebt - USD 1 Quarter
Loss on debt extinguishment GainsLossesOnExtinguishmentOfDebt $-1.55M USD 1 Quarter
Total other income (expense), net NonoperatingIncomeExpense $-10.99M USD 1 Quarter
Total other income (expense), net NonoperatingIncomeExpense $-12.70M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $90.54M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $61.87M USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $19.27M USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $12.60M USD 1 Quarter
Net income NetIncomeLoss $49.27M USD 1 Quarter
Net income NetIncomeLoss $71.27M USD 1 Quarter
Basic EarningsPerShareBasic $1.04 USD 1 Quarter
Basic EarningsPerShareBasic $0.73 USD 1 Quarter
Diluted EarningsPerShareDiluted $0.71 USD 1 Quarter
Diluted EarningsPerShareDiluted $0.97 USD 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 67.29M shares 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 68.75M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 69.73M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 73.65M shares 1 Quarter
Dividends declared per share of common stock CommonStockDividendsPerShareDeclared $0.25 USD 1 Quarter
Dividends declared per share of common stock CommonStockDividendsPerShareDeclared $0.32 USD 1 Quarter
Cash Flow Statement 75 line items
Line Item Tag Value Unit Period
Net income ProfitLoss $49.27M USD 1 Quarter
Net income ProfitLoss $71.27M USD 1 Quarter
Provision for deferred income taxes DeferredIncomeTaxesAndTaxCredits $4.70M USD 1 Quarter
Provision for deferred income taxes DeferredIncomeTaxesAndTaxCredits $7.89M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $10.61M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $11.68M USD 1 Quarter
Deferred financing costs and derivative and accretion expense DeferredFinancingCostsAndDerivativeAndAccretionExpense $1.17M USD 1 Quarter
Deferred financing costs and derivative and accretion expense DeferredFinancingCostsAndDerivativeAndAccretionExpense $1.05M USD 1 Quarter
Stock-based and deferred compensation EmployeeBenefitsAndShareBasedCompensationNoncash $4.79M USD 1 Quarter
Stock-based and deferred compensation EmployeeBenefitsAndShareBasedCompensationNoncash $5.90M USD 1 Quarter
Change in fair value of contingent consideration obligations BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1 $-3.50M USD 1 Quarter
Change in fair value of contingent consideration obligations BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1 $7.40M USD 1 Quarter
Unrealized (appreciation) depreciation on investments IncreaseDecreaseInTradingSecurities $629.00K USD 1 Quarter
Unrealized (appreciation) depreciation on investments IncreaseDecreaseInTradingSecurities $-452.00K USD 1 Quarter
Noncash lease expense NoncashLeaseExpense $-91.00K USD 1 Quarter
Noncash lease expense NoncashLeaseExpense $94.00K USD 1 Quarter
Loss on equity method investment IncomeLossFromEquityMethodInvestments $-57.00K USD 1 Quarter
Loss on equity method investment IncomeLossFromEquityMethodInvestments - USD 1 Quarter
Loss on debt extinguishment GainsLossesOnExtinguishmentOfDebt - USD 1 Quarter
Loss on debt extinguishment GainsLossesOnExtinguishmentOfDebt $-1.55M USD 1 Quarter
Receivables IncreaseDecreaseInAccountsReceivableAndOtherOperatingAssets $1.47M USD 1 Quarter
Receivables IncreaseDecreaseInAccountsReceivableAndOtherOperatingAssets $-4.21M USD 1 Quarter
Prepaid expenses IncreaseDecreaseInPrepaidExpense $1.26M USD 1 Quarter
Prepaid expenses IncreaseDecreaseInPrepaidExpense $3.12M USD 1 Quarter
Other assets IncreaseDecreaseInOtherNoncurrentAssets $783.00K USD 1 Quarter
Other assets IncreaseDecreaseInOtherNoncurrentAssets $80.00K USD 1 Quarter
Accounts payable and accrued expenses IncreaseDecreaseInAccountsPayableAndAccruedExpensesExcludingEmployeeBenefits $8.48M USD 1 Quarter
Accounts payable and accrued expenses IncreaseDecreaseInAccountsPayableAndAccruedExpensesExcludingEmployeeBenefits $-8.82M USD 1 Quarter
Accrued compensation and benefits IncreaseDecreaseInEmployeeRelatedLiabilities $-18.17M USD 1 Quarter
Accrued compensation and benefits IncreaseDecreaseInEmployeeRelatedLiabilities $-13.49M USD 1 Quarter
Other liabilities IncreaseDecreaseInOtherNoncurrentLiabilities $-146.00K USD 1 Quarter
Other liabilities IncreaseDecreaseInOtherNoncurrentLiabilities $-68.00K USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $74.81M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $64.16M USD 1 Quarter
Purchases of property and equipment PaymentsToAcquirePropertyPlantAndEquipment $572.00K USD 1 Quarter
Purchases of property and equipment PaymentsToAcquirePropertyPlantAndEquipment $1.18M USD 1 Quarter
Purchases of investments PaymentsToAcquireInvestments $2.37M USD 1 Quarter
Purchases of investments PaymentsToAcquireInvestments $2.94M USD 1 Quarter
Sales of investments ProceedsFromSaleOfAvailableForSaleSecuritiesDebt $1.25M USD 1 Quarter
Sales of investments ProceedsFromSaleOfAvailableForSaleSecuritiesDebt $1.97M USD 1 Quarter
Purchase of equity method investment ProceedsFromPaymentsInEquityMethodInvestment $-1.50M USD 1 Quarter
Acquisition of business and assets, net of cash acquired PaymentsToAcquireBusinessesNetOfCashAcquired - USD 1 Quarter
Acquisition of business and assets, net of cash acquired PaymentsToAcquireBusinessesNetOfCashAcquired $327.00K USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-4.12M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-1.55M USD 1 Quarter
Issuance of common stock ProceedsFromIssuanceOfCommonStock $1.77M USD 1 Quarter
Issuance of common stock ProceedsFromIssuanceOfCommonStock $1.30M USD 1 Quarter
Repurchase of common stock PaymentsForRepurchaseOfCommonStock $10.19M USD 1 Quarter
Repurchase of common stock PaymentsForRepurchaseOfCommonStock $34.44M USD 1 Quarter
Payments of taxes related to net share settlement of equity awards PaymentsRelatedToTaxWithholdingForShareBasedCompensation $5.37M USD 1 Quarter
Payments of taxes related to net share settlement of equity awards PaymentsRelatedToTaxWithholdingForShareBasedCompensation $7.69M USD 1 Quarter
Repayment of long-term senior debt RepaymentsOfSeniorDebt $70.00M USD 1 Quarter
Repayment of long-term senior debt RepaymentsOfSeniorDebt - USD 1 Quarter
Payment of dividends PaymentsOfDividends $17.38M USD 1 Quarter
Payment of dividends PaymentsOfDividends $22.11M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-101.64M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-62.47M USD 1 Quarter
Effect of changes of foreign exchange rate on cash and cash equivalents EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $23.00K USD 1 Quarter
Effect of changes of foreign exchange rate on cash and cash equivalents EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $-32.00K USD 1 Quarter
Net increase in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $164.00K USD 1 Quarter
Net increase in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-30.98M USD 1 Quarter
Cash and cash equivalents, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $38.17M USD Point-in-time
Cash and cash equivalents, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $38.55M USD Point-in-time
Cash and cash equivalents, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $38.34M USD Point-in-time
Cash and cash equivalents, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $69.53M USD Point-in-time
Cash and cash equivalents, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $38.17M USD Point-in-time
Cash and cash equivalents, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $38.55M USD Point-in-time
Cash and cash equivalents, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $38.34M USD Point-in-time
Cash and cash equivalents, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $69.53M USD Point-in-time
Cash paid for interest InterestPaidNet $15.31M USD 1 Quarter
Cash paid for interest InterestPaidNet $7.07M USD 1 Quarter
Cash paid for income taxes IncomeTaxesPaidNet $995.00K USD 1 Quarter
Cash paid for income taxes IncomeTaxesPaidNet $1.01M USD 1 Quarter
Operating lease right-of-use assets obtained in exchange for new operating lease liabilities RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability - USD 1 Quarter
Operating lease right-of-use assets obtained in exchange for new operating lease liabilities RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability $2.99M USD 1 Quarter
Stockholders Equity 24 line items
Line Item Tag Value Unit Period
Balance at beginning of period StockholdersEquity $986.27M USD Point-in-time
Balance at beginning of period StockholdersEquity $929.93M USD Point-in-time
Balance at beginning of period StockholdersEquity $1.07B USD Point-in-time
Balance at beginning of period StockholdersEquity $1.05B USD Point-in-time
Issuance of common stock StockIssuedDuringPeriodValueNewIssues $60.00K USD 1 Quarter
Issuance of common stock StockIssuedDuringPeriodValueNewIssues $69.00K USD 1 Quarter
Repurchase of shares TreasuryStockRetiredCostMethodAmount $9.44M USD 1 Quarter
Repurchase of shares TreasuryStockRetiredCostMethodAmount $32.90M USD 1 Quarter
Shares withheld related to net settlement of equity awards SharesWithheldRelatedToNetSettlementOfEquityAwards $11.66M USD 1 Quarter
Shares withheld related to net settlement of equity awards SharesWithheldRelatedToNetSettlementOfEquityAwards $9.32M USD 1 Quarter
Exercise of options StockIssuedDuringPeriodValueStockOptionsExercised $1.71M USD 1 Quarter
Exercise of options StockIssuedDuringPeriodValueStockOptionsExercised $1.23M USD 1 Quarter
Share-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $4.25M USD 1 Quarter
Share-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $3.94M USD 1 Quarter
Dividends paid Dividends $17.62M USD 1 Quarter
Dividends paid Dividends $22.52M USD 1 Quarter
Net income NetIncomeLoss $49.27M USD 1 Quarter
Net income NetIncomeLoss $71.27M USD 1 Quarter
Other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $16.20M USD 1 Quarter
Other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $-5.07M USD 1 Quarter
Balance at end of period StockholdersEquity $986.27M USD Point-in-time
Balance at end of period StockholdersEquity $929.93M USD Point-in-time
Balance at end of period StockholdersEquity $1.07B USD Point-in-time
Balance at end of period StockholdersEquity $1.05B USD Point-in-time
Comprehensive Income 10 line items
Line Item Tag Value Unit Period
Net income NetIncomeLoss $49.27M USD 1 Quarter
Net income NetIncomeLoss $71.27M USD 1 Quarter
Net unrealized income (loss) on cash flow hedges OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax $-5.09M USD 1 Quarter
Net unrealized income (loss) on cash flow hedges OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax $16.28M USD 1 Quarter
Net unrealized income (loss) on foreign currency translation OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-77.00K USD 1 Quarter
Net unrealized income (loss) on foreign currency translation OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $20.00K USD 1 Quarter
Total other comprehensive income (loss), net of tax OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $16.20M USD 1 Quarter
Total other comprehensive income (loss), net of tax OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $-5.07M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTax $87.47M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTax $44.20M USD 1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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