Velocity Financial (VEL) Financial Statements & Analysis

Velocity Financial (VEL) Income Statement

Velocity Financial reported revenue of $311.52M in fiscal 2025 (fiscal year ended Dec 31, 2025), down 35.5% from $482.78M a year earlier. Net income was $105.05M, up 53.5% year over year, a net margin of 33.7%. Gross margin was 218.6% and operating margin 164.1%. In the most recent quarter, Q2 fiscal 2026 (ended Jun 30, 2026), revenue was $78.88M, up 1.1% from the same quarter a year earlier.

Velocity Financial Income Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Velocity Financial, Inc. income statement - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Mar 2020	Dec 2018	Dec 2017
Revenue & Gross Profit
Revenue	311.53	482.78	155.51	106.32	75.32	165.84	152.78	121.52	94.93
Cost of Revenue	33.41	272.21	0.00	158.35	105.70	104.94	99.66	76.12	61.71
Gross Profit	681.04	210.56	131.72	90.03	75.61	60.90	53.12	45.40	33.22
Operating Expenses
Research & Development	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Selling, General & Administrative	94.95	74.55	52.99	15.09	24.04	25.23	22.80	21.45	16.73
Operating Expenses	169.75	114.17	54.87	45.48	35.81	37.77	27.73	26.15	19.23
Operating Income	511.29	96.39	76.85	44.55	39.79	23.13	25.40	19.25	13.99
Other Income/Expense
Interest Income	556.69	406.84	315.97	240.34	181.97	167.32	157.53	124.72	97.83
Interest Expense	365.05	247.22	203.02	157.20	106.00	99.88	98.52	75.92	61.29
Other Income/Expense	-365.05	0.00	-5.72	0.00	0.00	0.00	0.00	0.00	0.00
Income
Income Before Tax	146.24	96.39	71.13	44.55	39.79	23.13	25.40	19.25	13.99
Income Tax Expense	41.26	27.93	18.83	12.03	10.57	5.35	8.11	11.62	0.00
Net Income	105.05	68.42	52.27	31.72	29.22	17.78	17.29	7.63	13.99
Net Income - Continuous Operations	104.98	68.42	52.29	32.52	29.22	17.78	17.29	7.63	13.99
Net Income - Discontinued Operations	-	-	-	-	-	-	-	-	-
EBITDA	511.29	98.39	0.00	2.12	42.20	25.58	27.87	20.68	15.18
EBIT	-	-	-	-	-	-	-	-	-
Depreciation & Amortization	2.02	2.00	2.30	2.12	2.41	2.45	2.47	1.43	1.19
Earnings Per Share
Basic EPS	3.00	2.00	2.00	1.00	1.00	-2.00	1.00	1.00	1.00
Diluted EPS	3.00	2.00	2.00	1.00	1.00	-2.00	1.00	1.00	1.00
Basic Shares Outstanding	36.85	32.65	32.21	31.91	22.81	20.09	113.59	11.75	11.75
Diluted Shares Outstanding	38.18	35.76	34.48	34.13	33.98	20.09	113.59	11.75	11.75

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Velocity Financial Financial Statements

What was Velocity Financial's revenue in fiscal 2025?

Velocity Financial reported revenue of $311.52M in fiscal 2025 (fiscal year ended Dec 31, 2025). That was down 35.5% from $482.78M a year earlier.

Is Velocity Financial profitable?

Yes. Velocity Financial earned net income of $105.05M in fiscal 2025, a net margin of 33.7%. In fiscal 2024 it earned $68.42M.

What is Velocity Financial's operating margin?

Velocity Financial's operating income was $511.29M on revenue of $311.52M in fiscal 2025, an operating margin of 164.1%, compared with 20.0% a year earlier.

What is net profit margin?

Net profit margin is net income divided by revenue. It shows how much of each dollar of sales a company keeps as profit after all costs, interest and taxes. Full definition