Velocity Financial, Inc. (VEL)

Velocity Financial Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Jun 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Interest and Dividend Income	478.83	413.33	315.97	240.34	181.97	167.32
Total Interest Expense	313.85	271.04	203.02	157.2	106	99.88
Net Interest Income	164.98	142.29	112.95	83.15	75.97	67.45
Gain (Loss) on Sale of Loans & Receivables	14.2	9.94	8.24	7.11	7.89	7.58
Other Revenue	19.84	26.59	3.45	5.23	1.61	-
Revenue Before Loan Losses	199.02	178.82	124.63	95.48	85.48	75.02
Provision for Loan Losses	3.42	1.17	1.92	1.15	-0.29	5.07
Revenue	195.59	177.65	122.72	94.33	85.77	69.96
Revenue Growth (YoY)	44.29%	44.76%	30.09%	9.98%	22.60%	12.32%
Salaries & Employee Benefits	81.96	69.59	48.34	30.46	19.19	20.73
Cost of Services Provided	67.13	54.41	37.6	22.21	16.01	13.78
Other Operating Expenses	-67.59	-42.74	-34.35	-2.89	10.78	12.31
Total Operating Expenses	81.5	81.26	51.59	49.78	45.97	46.83
Operating Income	114.1	96.39	71.13	44.55	39.79	23.13
Pretax Income	114.1	96.39	71.13	44.55	39.79	23.13
Income Tax Expense	32.86	27.93	18.83	12.03	10.57	5.35
Earnings From Continuing Ops.	81.24	68.47	52.29	32.52	29.22	17.78
Minority Interest in Earnings	0.03	-0.05	-0.02	-0.31	-	-
Net Income	81.27	68.42	52.27	32.21	29.22	17.78
Preferred Dividends & Other Adjustments	0.97	0.84	0.75	0.49	8.59	48.96
Net Income to Common	80.31	67.58	51.52	31.72	20.64	-31.18
Net Income Growth	32.22%	30.89%	62.28%	10.22%	64.39%	2.80%
Shares Outstanding (Basic)	34	33	32	32	23	20
Shares Outstanding (Diluted)	37	36	34	34	34	20
Shares Change (YoY)	4.15%	3.70%	1.03%	0.44%	69.17%	-82.32%
EPS (Basic)	2.36	2.07	1.60	0.99	0.90	-1.55
EPS (Diluted)	2.22	1.91	1.52	0.94	0.86	-1.55
EPS Growth	26.96%	26.22%	60.62%	9.74%	-	-
Free Cash Flow	26.58	37.47	48.66	48.35	57.49	54.17
Free Cash Flow Per Share	0.72	1.05	1.41	1.42	1.69	2.70
Operating Margin	58.33%	54.26%	57.96%	47.23%	46.40%	33.06%
Profit Margin	41.06%	38.04%	41.98%	33.63%	24.06%	-44.57%
Free Cash Flow Margin	13.59%	21.09%	39.65%	51.25%	67.03%	77.43%
Effective Tax Rate	28.80%	28.97%	26.48%	27.01%	26.56%	23.14%

Updated May 1, 2025. Source: S&P Global Market Intelligence. Financial Services template. Financial Sources.

SEC Filings: 10-K · 10-Q