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Side-by-side financial comparison of Emerald Holding, Inc. (EEX) and VIRTUS INVESTMENT PARTNERS, INC. (VRTS). Click either name above to swap in a different company.
VIRTUS INVESTMENT PARTNERS, INC. is the larger business by last-quarter revenue ($199.5M vs $132.7M, roughly 1.5× Emerald Holding, Inc.). VIRTUS INVESTMENT PARTNERS, INC. runs the higher net margin — 3.6% vs -22.8%, a 26.3% gap on every dollar of revenue. On growth, Emerald Holding, Inc. posted the faster year-over-year revenue change (24.3% vs -4.1%). Over the past eight quarters, Emerald Holding, Inc.'s revenue compounded faster (-0.3% CAGR vs -5.7%).
TVS Emerald Haven Realty Limited is an Indian real estate development company headquartered in Chennai, Tamil Nadu. A subsidiary of TVS Holdings, it specializes in sustainable residential communities and urban development projects.
VIRTUS INVESTMENT PARTNERS, INC.VRTSEarnings & Financial Report
Virtus Investment Partners, Inc. is an American company which operates as a multi-manager asset management business, comprising a number of individual affiliated managers, each having its own investment process and brand, and the services of unaffiliated sub advisers.
EEX vs VRTS — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $132.7M | $199.5M |
| Net Profit | $-30.2M | $7.1M |
| Gross Margin | — | — |
| Operating Margin | -11.8% | 7.7% |
| Net Margin | -22.8% | 3.6% |
| Revenue YoY | 24.3% | -4.1% |
| Net Profit YoY | -692.2% | -78.1% |
| EPS (diluted) | $-0.15 | $1.05 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | — | $199.5M | ||
| Q4 25 | $132.7M | $208.0M | ||
| Q3 25 | $77.5M | $216.4M | ||
| Q2 25 | $105.5M | $210.5M | ||
| Q1 25 | $147.7M | $217.9M | ||
| Q4 24 | $106.8M | $233.5M | ||
| Q3 24 | $72.6M | $227.0M | ||
| Q2 24 | $86.0M | $224.4M |
| Q1 26 | — | $7.1M | ||
| Q4 25 | $-30.2M | $33.9M | ||
| Q3 25 | $-14.4M | $31.3M | ||
| Q2 25 | $-1.4M | $42.7M | ||
| Q1 25 | $15.3M | $28.1M | ||
| Q4 24 | $5.1M | $39.5M | ||
| Q3 24 | $-11.1M | $49.1M | ||
| Q2 24 | $-2.8M | $26.0M |
| Q1 26 | — | 7.7% | ||
| Q4 25 | -11.8% | 19.1% | ||
| Q3 25 | -10.1% | 21.7% | ||
| Q2 25 | 9.7% | 21.5% | ||
| Q1 25 | 24.2% | 16.8% | ||
| Q4 24 | 19.5% | 21.7% | ||
| Q3 24 | -6.5% | 24.3% | ||
| Q2 24 | 7.4% | 19.7% |
| Q1 26 | — | 3.6% | ||
| Q4 25 | -22.8% | 16.3% | ||
| Q3 25 | -18.6% | 14.5% | ||
| Q2 25 | -1.3% | 20.3% | ||
| Q1 25 | 10.4% | 12.9% | ||
| Q4 24 | 4.8% | 16.9% | ||
| Q3 24 | -15.3% | 21.6% | ||
| Q2 24 | -3.3% | 11.6% |
| Q1 26 | — | $1.05 | ||
| Q4 25 | $-0.15 | $5.15 | ||
| Q3 25 | $-0.07 | $4.65 | ||
| Q2 25 | $-0.01 | $6.12 | ||
| Q1 25 | $0.08 | $4.05 | ||
| Q4 24 | $0.01 | $4.65 | ||
| Q3 24 | $-0.05 | $5.71 | ||
| Q2 24 | $-0.03 | $2.43 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $100.9M | $136.6M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $338.8M | $93.6B |
| Total Assets | $1.2B | — |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $136.6M | ||
| Q4 25 | $100.9M | — | ||
| Q3 25 | $95.4M | — | ||
| Q2 25 | $156.4M | — | ||
| Q1 25 | $276.8M | — | ||
| Q4 24 | $194.8M | — | ||
| Q3 24 | $188.9M | — | ||
| Q2 24 | $193.2M | — |
| Q1 26 | — | — | ||
| Q4 25 | — | $390.0M | ||
| Q3 25 | — | $390.6M | ||
| Q2 25 | — | $231.3M | ||
| Q1 25 | — | $231.7M | ||
| Q4 24 | — | $232.1M | ||
| Q3 24 | — | $237.5M | ||
| Q2 24 | — | $247.6M |
| Q1 26 | — | $93.6B | ||
| Q4 25 | $338.8M | $934.0M | ||
| Q3 25 | $369.5M | $918.7M | ||
| Q2 25 | $389.4M | $896.4M | ||
| Q1 25 | $392.1M | $893.7M | ||
| Q4 24 | $385.9M | $897.5M | ||
| Q3 24 | $391.1M | $889.0M | ||
| Q2 24 | $407.6M | $868.7M |
| Q1 26 | — | — | ||
| Q4 25 | $1.2B | $4.3B | ||
| Q3 25 | $1.2B | $3.9B | ||
| Q2 25 | $1.2B | $3.7B | ||
| Q1 25 | $1.2B | $3.7B | ||
| Q4 24 | $1.0B | $4.0B | ||
| Q3 24 | $1.1B | $3.6B | ||
| Q2 24 | $1.1B | $3.6B |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.42× | ||
| Q3 25 | — | 0.43× | ||
| Q2 25 | — | 0.26× | ||
| Q1 25 | — | 0.26× | ||
| Q4 24 | — | 0.26× | ||
| Q3 24 | — | 0.27× | ||
| Q2 24 | — | 0.29× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $12.3M | — |
| Free Cash FlowOCF − Capex | $11.7M | — |
| FCF MarginFCF / Revenue | 8.8% | — |
| Capex IntensityCapex / Revenue | 0.5% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $41.4M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $12.3M | $-67.2M | ||
| Q3 25 | $1.8M | $108.3M | ||
| Q2 25 | $15.9M | $75.8M | ||
| Q1 25 | $12.6M | $-3.8M | ||
| Q4 24 | $20.6M | $1.8M | ||
| Q3 24 | $9.1M | $69.1M | ||
| Q2 24 | $9.8M | $70.0M |
| Q1 26 | — | — | ||
| Q4 25 | $11.7M | $-74.1M | ||
| Q3 25 | $1.5M | $106.9M | ||
| Q2 25 | $15.8M | $74.2M | ||
| Q1 25 | $12.4M | $-6.8M | ||
| Q4 24 | $19.9M | $-3.8M | ||
| Q3 24 | $9.0M | $68.7M | ||
| Q2 24 | $9.6M | $68.6M |
| Q1 26 | — | — | ||
| Q4 25 | 8.8% | -35.6% | ||
| Q3 25 | 1.9% | 49.4% | ||
| Q2 25 | 15.0% | 35.2% | ||
| Q1 25 | 8.4% | -3.1% | ||
| Q4 24 | 18.6% | -1.6% | ||
| Q3 24 | 12.4% | 30.3% | ||
| Q2 24 | 11.2% | 30.6% |
| Q1 26 | — | — | ||
| Q4 25 | 0.5% | 3.3% | ||
| Q3 25 | 0.4% | 0.7% | ||
| Q2 25 | 0.1% | 0.7% | ||
| Q1 25 | 0.1% | 1.4% | ||
| Q4 24 | 0.7% | 2.4% | ||
| Q3 24 | 0.1% | 0.2% | ||
| Q2 24 | 0.2% | 0.6% |
| Q1 26 | — | — | ||
| Q4 25 | — | -1.99× | ||
| Q3 25 | — | 3.45× | ||
| Q2 25 | — | 1.77× | ||
| Q1 25 | 0.82× | -0.13× | ||
| Q4 24 | 4.04× | 0.04× | ||
| Q3 24 | — | 1.41× | ||
| Q2 24 | — | 2.69× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
EEX
| Connections Segment | $121.9M | 92% |
| Commerce Segment | $5.5M | 4% |
| Content | $5.3M | 4% |
VRTS
| Investment management fees | $169.1M | 85% |
| Administration and shareholder service fees | $17.3M | 9% |
| Distribution and service fees | $11.6M | 6% |
