Velocity Financial, Inc. (VEL)

NYSE: VEL · Finance Services · Westlake Village, CA · filing with the SEC since 2016

Grade5.5

◀ Past 5.8● Present 6.0▶ Future 4.2

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Income statement, as filed

In thousands of US dollars (USD), as filed; per-share figures in US dollars; share counts in thousands. The fiscal year ends in December.

Income statement, by fiscal year, newest first
Fiscal year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018
Period ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
Report filed	Mar 12, 2026	Mar 12, 2025	Mar 15, 2024	Mar 13, 2023	Mar 15, 2022	Mar 17, 2021	Apr 7, 2020	·
For lenders
Net interest income	185,781	135,804	107,751	83,148	75,973	67,447	59,010	48,803
Provision for credit losses	5,805	1,173	1,915	1,152	-292	5,068	1,139	201
Net interest income after provision	179,976	134,631	105,836	81,996	76,265	62,379	57,871	48,602
Noninterest expense	197,355	139,638	100,619	61,764^r	46,270^r	45,570	35,122	32,160
Interest expense	365,048	271,039	203,024	157,195	105,995	99,875	98,521	·
Income before income taxes	146,240	96,391	71,127	44,552	39,793	23,129	25,398	19,249
Income tax expense	41,257	27,925	18,834	12,033	10,569	5,352	8,106	11,618
Net income including non-controlling interests	104,983	68,466	52,293	32,519	29,224^r	17,777^r	25,398	·
Net income	105,054	68,419	52,273	32,211	29,224	17,777	17,292	7,631
Preferred dividends	·	·	·	·	·	48,955	·	·
Net income to common shareholders	105,054	68,419	52,273	32,211	29,224	-31,178	·	·
Earnings per share, basic	2.81	2.07	1.60	0.99	0.90	-1.55	·	·
Earnings per share, diluted	2.75	1.91	1.52	0.94	0.86	-1.55	·	·
Weighted average shares, basic	36,850	32,653	32,206	31,913	22,813	20,087	·	·
Weighted average shares, diluted	38,178	35,760	34,484	34,131	33,982	20,087	·	·

As filed with the SEC, each figure from the newest report that carries it, and linked to it. Nothing here is computed.A dot is a line not tagged for that period. ^r restated by the company in a later report; ^b a share figure put on the newest basis or filed in the wrong unit. Hover a figure for its filing and note.

What each line is, and the XBRL concept behind it

Net interest income interest earned less interest paidus-gaap:InterestIncomeExpenseNet

Provision for credit losses set aside for loans that may not be repaidus-gaap:ProvisionForLoanLossesExpensed

Net interest income after provision interest income left after the provisionus-gaap:InterestIncomeExpenseAfterProvisionForLoanLoss

Noninterest expense salaries, buildings and the other costs of running the bankus-gaap:NoninterestExpense

Interest expense what its borrowing costus-gaap:InterestExpenseDebt

Income before income taxes profit before taxus-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest

Income tax expense tax charged on the period's profitus-gaap:IncomeTaxExpenseBenefit

Net income including non-controlling interests the whole group's profit, minority holders' share includedus-gaap:ProfitLoss

Net income the profit or loss that belongs to the company's shareholdersus-gaap:NetIncomeLoss

Preferred dividends paid to preferred holders before common shareholdersus-gaap:PreferredStockDividendsIncomeStatementImpact

Net income to common shareholders what is left for common shareholdersus-gaap:NetIncomeLossAvailableToCommonStockholdersBasic

Earnings per share, basic net income per share outstandingus-gaap:EarningsPerShareBasic

Earnings per share, diluted net income per share, counting every share that could be issuedus-gaap:EarningsPerShareDiluted

Weighted average shares, basic the average count of shares outstandingus-gaap:WeightedAverageNumberOfSharesOutstandingBasic

Weighted average shares, diluted the average count with every share that could be issuedus-gaap:WeightedAverageNumberOfDilutedSharesOutstanding

SI Assistanton VEL · research, not advice