Velocity Financial (VEL) Operating Expenses (2019 - 2026)
Velocity Financial (VEL) posted quarterly Operating Expenses of $54.3 million for Q1 2026, up 28.8% year-over-year from $42.2 million in Q1 2025, and up 2.81% quarter-over-quarter from $52.9 million in Q4 2025.
Velocity Financial (VEL) Operating Expenses (2019 - 2026) Analysis & Trends
Velocity Financial's Operating Expenses history runs 8 years deep, the most recent figure standing at $54.3 million for Q1 2026.
- In Q1 2026, Operating Expenses rose 28.8% year-over-year to $54.3 million; the TTM figure through Mar 2026 stood at $209.5 million (up 38.91% YoY), while the FY2025 annual figure was $197.4 million, up 41.33% from the prior year.
- Operating Expenses for Q1 2026 stood at $54.3 million, up from $52.9 million in the prior quarter.
- The five-year high for Operating Expenses was $54.3 million in Q1 2026, with the low at $12.9 million in Q1 2022.
- The 5-year median for Operating Expenses is $31.0 million (2024), against an average of $32.6 million.
- The sharpest annual moves came in 2022 and 2023: Operating Expenses increased 17.23% in 2022, then jumped 106.37% in 2023.
- Velocity Financial's Operating Expenses stood at $20.8 million in 2022, then jumped by 40.65% to $29.3 million in 2023, then jumped by 33.72% to $39.1 million in 2024, then jumped by 35.09% to $52.9 million in 2025, then rose by 2.81% to $54.3 million in 2026.
- Business Quant data shows VEL's Operating Expenses at $54.3 million in Q1 2026, $52.9 million in Q4 2025, and $50.4 million in Q3 2025.
Powered by 
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Rocket Companies | 39.89 Bn | 36.79 Bn | - | 2.50 Bn |
| 2 | Federal National Mortgage Association Fannie Mae | 36.43 Bn | 36.43 Bn | - | 2.07 Bn |
| 3 | Federal Home Loan Mortgage | 18.24 Bn | 13.92 Bn | - | 2.10 Bn |
| 4 | PennyMac Financial Services | 3.95 Bn | 3.20 Bn | 480.08 Mn | 465.44 Mn |
| 5 | CNFinance Holdings | 1.54 Bn | 1.47 Bn | - | - |
| 6 | Walker & Dunlop | 1.34 Bn | 1.18 Bn | - | 304.62 Mn |
| 7 | Velocity Financial | 711.47 Mn | -6.74 Bn | - | 59.75 Mn |
| 8 | UWM Holdings | 482.66 Mn | -15.75 Mn | - | 635.05 Mn |
| 9 | Onity | 303.97 Mn | 107.67 Mn | - | 139.00 Mn |
| 10 | loanDepot | 201.58 Mn | -109.56 Mn | - | 343.94 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 59.75 Mn |
| Mar 31, 2026 | 54.34 Mn |
| Dec 31, 2025 | 52.86 Mn |
| Sep 30, 2025 | 50.40 Mn |
| Jun 30, 2025 | 51.91 Mn |
| Mar 31, 2025 | 42.19 Mn |
| Dec 31, 2024 | 39.13 Mn |
| Sep 30, 2024 | 34.61 Mn |
| Jun 30, 2024 | 34.89 Mn |
| Mar 31, 2024 | 31.01 Mn |
| Dec 31, 2023 | 29.26 Mn |
| Sep 30, 2023 | 27.33 Mn |
| Jun 30, 2023 | 22.22 Mn |
| Mar 31, 2023 | 21.80 Mn |
| Dec 31, 2022 | 20.80 Mn |
| Sep 30, 2022 | 13.25 Mn |
| Jun 30, 2022 | 14.83 Mn |
| Mar 31, 2022 | 12.88 Mn |
| Dec 31, 2021 | 12.10 Mn |
| Sep 30, 2021 | 11.30 Mn |