Velocity Financial, Inc. (VEL)

Velocity Financial Income Statement

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

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Interest and Dividend Income	386.38	315.97	240.34	181.97	167.32	157.53
Total Interest Expense	251.96	203.02	157.2	106	99.88	98.52
Net Interest Income	134.43	112.95	83.15	75.97	67.45	59.01
Gain (Loss) on Sale of Loans & Receivables	8.64	8.24	7.11	7.89	7.58	4.41
Other Revenue	20.74	12.45	5.23	1.61	-	-
Revenue Before Loan Losses	163.81	133.63	95.48	85.48	75.02	63.42
Provision for Loan Losses	1.98	1.92	1.15	-0.29	5.07	1.14
Revenue	161.83	131.72	94.33	85.77	69.96	62.28
Revenue Growth (YoY)	35.27%	39.64%	9.98%	22.60%	12.32%	25.06%
Salaries & Employee Benefits	64.65	48.34	30.46	19.19	20.73	15.51
Cost of Services Provided	47.77	37.6	22.21	16.01	13.78	10.98
Other Operating Expenses	-37.25	-25.35	-2.89	10.78	12.31	10.39
Total Operating Expenses	75.17	60.59	49.78	45.97	46.83	36.88
Operating Income	86.66	71.13	44.55	39.79	23.13	25.4
Pretax Income	86.66	71.13	44.55	39.79	23.13	25.4
Income Tax Expense	21.83	18.83	12.03	10.57	5.35	8.11
Earnings From Continuing Ops.	64.83	52.29	32.52	29.22	17.78	17.29
Minority Interest in Earnings	0.36	-0.02	-0.31	-	-	-
Net Income	65.19	52.27	32.21	29.22	17.78	17.29
Preferred Dividends & Other Adjustments	0.8	0.75	0.49	8.59	48.96	-
Net Income to Common	64.38	51.52	31.72	20.64	-31.18	17.29
Net Income Growth	50.27%	62.28%	10.22%	64.39%	2.80%	126.60%
Shares Outstanding (Basic)	33	32	32	23	20	114
Shares Outstanding (Diluted)	35	34	34	34	20	114
Shares Change (YoY)	3.60%	1.03%	0.44%	69.17%	-82.32%	-
EPS (Basic)	1.98	1.60	0.99	0.90	-1.55	0.15
EPS (Diluted)	1.84	1.52	0.94	0.86	-1.55	0.15
EPS Growth	45.05%	60.62%	9.74%	-	-	126.60%
Free Cash Flow	30.34	48.66	48.35	57.49	54.17	-106.22
Free Cash Flow Per Share	0.86	1.41	1.42	1.69	2.70	-0.94
Operating Margin	53.55%	54.00%	47.23%	46.40%	33.06%	40.78%
Profit Margin	39.79%	39.11%	33.63%	24.06%	-44.57%	27.76%
Free Cash Flow Margin	18.75%	36.94%	51.26%	67.03%	77.43%	-170.55%
Effective Tax Rate	25.19%	26.48%	27.01%	26.56%	23.14%	31.92%

Source: S&P Capital IQ. Financial Services template. Financial Sources.