For the quarter ending 2026-03-31, VEL had -$137,187K decrease in cash & cash equivalents over the period. $12,044K in free cash flow.
| Cash Flow | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 |
|---|---|---|---|---|
| Net income | 22,299 | 34,753 | 25,412 | 44,818 |
| Depreciation and amortization | 133 | 123 | 123 | 270 |
| Amortization of right-of-use assets | 187 | 629 | 200 | 675 |
| Provision for credit losses | 1,661 | 1,954 | 381 | 3,470 |
| Origination of loans held for sale | 2,226 | 1,818 | 2,070 | 45,809 |
| Proceeds from sales of loans held for sale | 2,270 | 3,967 | -1 | 46,954 |
| Net accretion of discount on purchased loans and deferred loan origination costs | 809 | 806 | 998 | 1,991 |
| (reversal of) provision for uncollectible corporate and escrow advances receivable | -84 | -869 | 124 | 587 |
| Gain on disposition of loans-Nonrelated Party | - | 1,257 | - | - |
| Gain on disposition of loans-Related Party | - | 19,344 | - | - |
| Gain on disposition of loans | -1,081 | - | 0 | 1,145 |
| Real estate acquired through foreclosure in excess of recorded investment | 2,832 | 3,104 | 4,574 | 7,975 |
| Amortization of debt issuance discount and costs | 4,037 | 2,461 | 2,324 | 5,343 |
| Change in valuation of real estate owned | 3,217 | 6,990 | 6,307 | 4,223 |
| Change in valuation of fair value loans | 1,039 | 21,129 | 30,982 | 64,742 |
| Change in valuation of mortgage servicing rights | -337 | 568 | -343 | -1,223 |
| Change in valuation of fair value securitized debt | 26,254 | 800 | -9,988 | -21,266 |
| Hedging activities | -134 | -655 | 149 | 3,404 |
| Loss (gain) on sale of real estate owned | -129 | 203 | 152 | 1,090 |
| Stock-based compensation | 2,695 | 2,131 | 2,154 | 3,999 |
| Deferred tax expense | 4,079 | -5,974 | -4,256 | 2,096 |
| Accrued interest and other receivables | 3,086 | 3,177 | 5,888 | 8,150 |
| Other assets | -3,632 | 1,646 | -4,155 | 6,159 |
| Accounts payable and accrued expenses | 2,052 | -214 | 7,015 | 12,757 |
| Net cash provided by operating activities | 12,086 | -4,489 | 11,452 | 11,198 |
| Purchase of loans held for investment | 70 | - | - | - |
| Origination of loans held for investment | 637,146 | 632,796 | 713,016 | 1,320,002 |
| Proceeds from sales of loans originally classified as held for investment | - | 128,935 | - | - |
| Capitalized improvement on real estate held for sale | - | - | 80 | 19 |
| Payments of loans held for investment | 266,873 | 234,845 | 274,725 | 454,240 |
| Proceeds from sale of real estate owned | 18,470 | 21,182 | 11,862 | 22,537 |
| Capitalized improvement on real estate owned | 298 | 1,285 | - | - |
| Change in corporate and escrow advances receivable | -1,467 | 1,260 | -541 | -2,284 |
| Change in impounds and deposits | 2,308 | -2,280 | -1,958 | 3,075 |
| Purchase of property and equipment | 42 | 57 | 66 | 158 |
| Net cash used in investing activities | -351,372 | -250,097 | -429,074 | -842,611 |
| Warehouse repurchase facilities advances | 374,404 | 561,582 | 590,301 | 1,481,924 |
| Warehouse repurchase facilities repayments | 585,489 | 585,839 | 588,723 | 1,498,852 |
| Proceeds from unsecured financing | 500,000 | - | - | - |
| Proceeds from issuance of common stock related to warrants exercised | - | 0 | 0 | 10,908 |
| Repayment of secured financing | 215,000 | - | - | - |
| Proceeds from issuance of common stocks, net | - | 1,038 | 8,835 | 31,096 |
| Proceeds of securitized debt | 513,725 | 644,891 | 671,355 | 1,334,657 |
| Deferred stock issuance costs | - | 13 | 0 | 379 |
| Repayment of securitized debt | 365,907 | 235,227 | 243,184 | 493,337 |
| Debt issuance costs | 15,064 | 418 | 162 | 1,043 |
| Purchase of treasury stock | 4,537 | 1 | 179 | 7,155 |
| Distribution to non-controlling interest | 33 | 0 | 0 | 47 |
| Net cash provided by financing activities | 202,099 | 386,013 | 438,243 | 857,772 |
| Net (decrease) increase in cash, cash equivalents, and restricted cash | -137,187 | 131,427 | 20,621 | 26,359 |
| Cash, cash equivalents, and restricted cash at beginning of period | 249,237 | 117,810 | 70,830 | - |
| Cash, cash equivalents, and restricted cash at end of period | 112,050 | 249,237 | 117,810 | - |
Velocity Financial, Inc. (VEL)
Velocity Financial, Inc. (VEL)