Velocity Financial 2Q26 net income falls 3.2% to $25.2 million; net revenue rises 10.7% to $95 million
VEL•Quarterly results
- Velocity Financial posted 2Q26 net income of $25.2 million, down 3.2% from 2Q25; diluted EPS fell to $0.64, off $0.05.
- Pretax income rose 3.9% to $35.2 million, while core net income (non-GAAP) edged up 1.4% to $27.9 million.
- Net revenue climbed 10.7% to $95 million, as other operating income increased 18.1% to $47.1 million on fair value gains and origination fees.
- Portfolio net interest margin narrowed 16 basis points to 3.66%; total loans outstanding grew 19.2% to $7 billion.
Management commentary
CEO Chris Farrar said results were driven by higher portfolio net interest income and noninterest income, with financing demand remaining strong.
