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Velocity Financial (VEL) investor relations material
Velocity Financial Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Net income for Q2 2025 rose 75.9% year-over-year to $26.0M–$26.2M, with core net income at $27.5M and diluted EPS up to $0.69.
Loan production hit a record $725.4M, up 71.8% year-over-year, driving portfolio growth to $5.9B.
Portfolio expanded by nearly $1.4B year-over-year, with strong growth in commercial and investor rental loans.
Management remains confident in sustaining profitable market share growth amid robust market conditions.
Nonperforming loans as a percentage of portfolio was 10.3%, stable year-over-year.
Financial highlights
Net interest margin (NIM) for Q2 2025 was 3.82%, up 47 bps sequentially and 28 bps year-over-year.
Net interest income (portfolio related) was $53.7M, up from $38.6M in Q2 2024.
Diluted book value per share rose to $15.62, a 17.5% increase year-over-year.
Operating expenses increased to $51.9M, mainly due to higher compensation and securitization costs.
Core pre-tax ROE for Q2 2025 was 24.3%, with pre-tax return on average equity at 23.0%.
Outlook and guidance
Management targets a sustainable NIM of 3.5%+ and expects continued organic loan growth, though at a stepwise pace.
Next long-term loan securitization targeted for September 2025; market conditions remain supportive.
Ongoing technology investments aim to improve operational efficiency over the next 12–18 months.
Management remains optimistic about market momentum and expects continued growth in originations and market share.
Forward-looking statements highlight risks from economic, regulatory, and market conditions.
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