For the quarter ending 2025-09-30, VEL had $20,621K increase in cash & cash equivalents over the period. $11,386K in free cash flow.
| Cash Flow | 2025-09-30 | 2025-06-30 |
|---|---|---|
| Net income | 25,412 | 44,818 |
| Depreciation and amortization | 123 | 270 |
| Amortization of right-of-use assets | 200 | 675 |
| Provision for credit losses | 381 | 3,470 |
| Origination of loans held for sale | 2,070 | 45,809 |
| Proceeds from sales of loans held for sale | -1 | 46,954 |
| Net accretion of discount on purchased loans and amortization of deferred loan origination costs | 998 | 1,991 |
| Provision for uncollectible borrower advances | 124 | 587 |
| Gain on disposition of loans | 0 | 1,145 |
| Real estate acquired through foreclosure in excess of recorded investment | 4,574 | 7,975 |
| Amortization of debt issuance discount and costs | 2,324 | 5,343 |
| Change in valuation of real estate owned | 6,307 | 4,223 |
| Change in valuation of fair value loans | 30,982 | 64,742 |
| Change in valuation of mortgage servicing rights | -343 | -1,223 |
| Change in valuation of fair value securitized debt | -9,988 | -21,266 |
| Gain on sale of real estate owned | 152 | 1,090 |
| Stock-based compensation | 2,154 | 3,999 |
| Hedging activities | 149 | 3,404 |
| Deferred tax benefit | -4,256 | 2,096 |
| Accrued interest and other receivables | 5,888 | 8,150 |
| Other assets | -4,155 | 6,159 |
| Accounts payable and accrued expenses | 7,015 | 12,757 |
| Net cash provided by operating activities | 11,452 | 11,198 |
| Origination of loans held for investment | 713,016 | 1,320,002 |
| Payments of loans held for investment and loans at fair value | 274,725 | 454,240 |
| Proceeds from sale of real estate owned | 11,862 | 22,537 |
| Capitalized improvement on real estate held for sale | 80 | 19 |
| Change in corporate and escrow advances receivable | -541 | -2,284 |
| Change in impounds and deposits | -1,958 | 3,075 |
| Purchase of property and equipment | 66 | 158 |
| Net cash used in investing activities | -429,074 | -842,611 |
| Warehouse repurchase facilities advances | 590,301 | 1,481,924 |
| Warehouse repurchase facilities repayments | 588,723 | 1,498,852 |
| Proceeds of securitized debt | 671,355 | 1,334,657 |
| Repayment of securitized debt | 243,184 | 493,337 |
| Debt issuance costs | 162 | 1,043 |
| Deferred stock issuance costs | 0 | 379 |
| Proceeds from issuance of common stock related to warrants exercised | 0 | 10,908 |
| Proceeds from issuance of common stock, net | 8,835 | 31,096 |
| Purchase of treasury stock | 179 | 7,155 |
| Distribution to non-controlling interest | 0 | 47 |
| Net cash provided by financing activities | 438,243 | 857,772 |
| Net increase in cash, cash equivalents, and restricted cash | 20,621 | 26,359 |
| Cash and cash equivalents at beginning of period | 70,830 | - |
| Cash and cash equivalents at end of period | 117,810 | - |
Velocity Financial, Inc. (VEL)
Velocity Financial, Inc. (VEL)