Velocity Financial Income Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	2018 - 2016
Period Ending	Jun '24 Jun 30, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020	Dec '19 Dec 31, 2019	2018 - 2016
Interest and Dividend Income	360.07	315.97	240.34	181.97	167.32	157.53	Upgrade
Total Interest Expense	233.66	203.02	157.2	106	99.88	98.52	Upgrade
Net Interest Income	126.4	112.95	83.15	75.97	67.45	59.01	Upgrade
Gain (Loss) on Sale of Loans & Receivables	9.95	8.24	7.11	7.89	7.58	4.41	Upgrade
Other Revenue	17.36	12.45	5.23	1.61	-	-	Upgrade
Revenue Before Loan Losses	153.72	133.63	95.48	85.48	75.02	63.42	Upgrade
Provision for Loan Losses	2.2	1.92	1.15	-0.29	5.07	1.14	Upgrade
Revenue	151.52	131.72	94.33	85.77	69.96	62.28	Upgrade
Revenue Growth (YoY)	38.59%	39.64%	9.98%	22.60%	12.32%	25.06%	Upgrade
Salaries & Employee Benefits	59.59	48.34	30.46	19.19	20.73	15.51	Upgrade
Cost of Services Provided	46.66	37.6	22.21	16.01	13.78	10.98	Upgrade
Other Operating Expenses	-37.39	-25.35	-2.89	10.78	12.31	10.39	Upgrade
Total Operating Expenses	68.86	60.59	49.78	45.97	46.83	36.88	Upgrade
Operating Income	82.66	71.13	44.55	39.79	23.13	25.4	Upgrade
Pretax Income	82.66	71.13	44.55	39.79	23.13	25.4	Upgrade
Income Tax Expense	21.28	18.83	12.03	10.57	5.35	8.11	Upgrade
Earnings From Continuing Ops.	61.38	52.29	32.52	29.22	17.78	17.29	Upgrade
Minority Interest in Earnings	0.09	-0.02	-0.31	-	-	-	Upgrade
Net Income	61.47	52.27	32.21	29.22	17.78	17.29	Upgrade
Preferred Dividends & Other Adjustments	0.8	0.75	0.49	8.59	48.96	-	Upgrade
Net Income to Common	60.67	51.52	31.72	20.64	-31.18	17.29	Upgrade
Net Income Growth	48.92%	62.28%	10.22%	64.39%	2.80%	126.60%	Upgrade
Shares Outstanding (Basic)	32	32	32	23	20	114	Upgrade
Shares Outstanding (Diluted)	35	34	34	34	20	114	Upgrade
Shares Change (YoY)	3.17%	1.03%	0.44%	69.17%	-82.32%	-	Upgrade
EPS (Basic)	1.87	1.60	0.99	0.90	-1.55	0.15	Upgrade
EPS (Diluted)	1.75	1.52	0.94	0.86	-1.55	0.15	Upgrade
EPS Growth	44.34%	60.62%	9.74%	-	-	126.60%	Upgrade
Free Cash Flow	38.2	48.66	48.35	57.49	54.17	-106.22	Upgrade
Free Cash Flow Per Share	1.09	1.41	1.42	1.69	2.70	-0.94	Upgrade
Operating Margin	54.55%	54.00%	47.23%	46.40%	33.06%	40.78%	Upgrade
Profit Margin	40.04%	39.11%	33.63%	24.06%	-44.57%	27.76%	Upgrade
Free Cash Flow Margin	25.21%	36.94%	51.26%	67.03%	77.43%	-170.55%	Upgrade
Effective Tax Rate	25.74%	26.48%	27.01%	26.56%	23.14%	31.92%	Upgrade

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