Velocity Financial, Inc. (VEL)

Velocity Financial Income Statement

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

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

Updated Mar 12, 2025. Source: S&P Global Market Intelligence. Financial Services template. Financial Sources.

SEC Filings: 10-K · 10-Q