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	Mar 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Interest and Dividend Income	441.25	413.33	315.97	240.34	181.97	167.32
Total Interest Expense	291.21	271.04	203.02	157.2	106	99.88
Net Interest Income	150.04	142.29	112.95	83.15	75.97	67.45
Gain (Loss) on Sale of Loans & Receivables	11.08	9.94	8.24	7.11	7.89	7.58
Other Revenue	18.92	26.59	3.45	5.23	1.61	-
Revenue Before Loan Losses	180.03	178.82	124.63	95.48	85.48	75.02
Provision for Loan Losses	2.04	1.17	1.92	1.15	-0.29	5.07
Revenue	177.99	177.65	122.72	94.33	85.77	69.96
Revenue Growth (YoY)	39.36%	44.76%	30.09%	9.98%	22.60%	12.32%
Salaries & Employee Benefits	75.92	69.59	48.34	30.46	19.19	20.73
Cost of Services Provided	58.4	54.41	37.6	22.21	16.01	13.78
Other Operating Expenses	-56.37	-42.74	-34.35	-2.89	10.78	12.31
Total Operating Expenses	77.94	81.26	51.59	49.78	45.97	46.83
Operating Income	100.05	96.39	71.13	44.55	39.79	23.13
Pretax Income	100.05	96.39	71.13	44.55	39.79	23.13
Income Tax Expense	30.27	27.93	18.83	12.03	10.57	5.35
Earnings From Continuing Ops.	69.78	68.47	52.29	32.52	29.22	17.78
Minority Interest in Earnings	0.27	-0.05	-0.02	-0.31	-	-
Net Income	70.06	68.42	52.27	32.21	29.22	17.78
Preferred Dividends & Other Adjustments	0.85	0.84	0.75	0.49	8.59	48.96
Net Income to Common	69.2	67.58	51.52	31.72	20.64	-31.18
Net Income Growth	18.99%	30.89%	62.28%	10.22%	64.39%	2.80%
Shares Outstanding (Basic)	33	33	32	32	23	20
Shares Outstanding (Diluted)	36	36	34	34	34	20
Shares Change (YoY)	3.65%	3.70%	1.03%	0.44%	69.17%	-82.32%
EPS (Basic)	2.10	2.07	1.60	0.99	0.90	-1.55
EPS (Diluted)	1.94	1.91	1.52	0.94	0.86	-1.55
EPS Growth	14.80%	26.22%	60.62%	9.74%	-	-
Free Cash Flow	30.38	37.47	48.66	48.35	57.49	54.17
Free Cash Flow Per Share	0.84	1.05	1.41	1.42	1.69	2.70
Operating Margin	56.21%	54.26%	57.96%	47.23%	46.40%	33.06%
Profit Margin	38.88%	38.04%	41.98%	33.63%	24.06%	-44.57%
Free Cash Flow Margin	17.07%	21.09%	39.65%	51.25%	67.03%	77.43%
Effective Tax Rate	30.25%	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