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Side-by-side financial comparison of Inogen Inc (INGN) and Velocity Financial, Inc. (VEL). Click either name above to swap in a different company.
Inogen Inc is the larger business by last-quarter revenue ($68.6M vs $51.6M, roughly 1.3× Velocity Financial, Inc.). On growth, Velocity Financial, Inc. posted the faster year-over-year revenue change (32.8% vs 3.4%). Velocity Financial, Inc. produced more free cash flow last quarter ($17.9M vs $-1.9M). Over the past eight quarters, Velocity Financial, Inc.'s revenue compounded faster (32.3% CAGR vs 4.2%).
Inogen Inc is a medical technology firm specializing in the development, production and distribution of portable oxygen concentrators and associated respiratory care products. It caters primarily to patients with chronic respiratory conditions needing long-term oxygen therapy across North America, Europe and other global markets, focusing on home care and ambulatory patient segments to enhance users' quality of life.
Velocity Financial, Inc. is a U.S.-headquartered real estate finance company that offers specialized mortgage loan solutions primarily for residential investment properties. It partners with independent mortgage brokers nationwide, providing real estate investors with short-term bridge loans and long-term rental property financing options tailored to their operational needs.
INGN vs VEL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $68.6M | $51.6M |
| Net Profit | — | $34.8M |
| Gross Margin | 51.4% | — |
| Operating Margin | -13.6% | 97.0% |
| Net Margin | — | 67.3% |
| Revenue YoY | 3.4% | 32.8% |
| Net Profit YoY | — | 67.0% |
| EPS (diluted) | $-0.26 | $0.90 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $68.6M | $51.6M | ||
| Q3 25 | $79.1M | $49.1M | ||
| Q2 25 | $79.2M | $47.6M | ||
| Q1 25 | $68.5M | $37.5M | ||
| Q4 24 | $66.3M | $38.9M | ||
| Q3 24 | $74.9M | $35.1M | ||
| Q2 24 | $74.4M | $32.4M | ||
| Q1 24 | $63.1M | $29.5M |
| Q4 25 | — | $34.8M | ||
| Q3 25 | $-5.3M | $25.4M | ||
| Q2 25 | $-4.2M | $26.0M | ||
| Q1 25 | $-6.2M | $18.9M | ||
| Q4 24 | — | $20.8M | ||
| Q3 24 | $-6.0M | $15.8M | ||
| Q2 24 | $-5.6M | $14.8M | ||
| Q1 24 | $-14.6M | $17.3M |
| Q4 25 | 51.4% | — | ||
| Q3 25 | 52.2% | — | ||
| Q2 25 | 52.2% | — | ||
| Q1 25 | 53.1% | — | ||
| Q4 24 | 54.7% | — | ||
| Q3 24 | 55.2% | — | ||
| Q2 24 | 57.4% | — | ||
| Q1 24 | 54.5% | — |
| Q4 25 | -13.6% | 97.0% | ||
| Q3 25 | -9.0% | 72.1% | ||
| Q2 25 | -7.7% | 71.3% | ||
| Q1 25 | -11.2% | 71.7% | ||
| Q4 24 | -17.2% | 82.5% | ||
| Q3 24 | -10.4% | 60.6% | ||
| Q2 24 | -9.5% | 61.3% | ||
| Q1 24 | -25.8% | 78.8% |
| Q4 25 | — | 67.3% | ||
| Q3 25 | -6.7% | 51.7% | ||
| Q2 25 | -5.2% | 54.6% | ||
| Q1 25 | -9.0% | 50.4% | ||
| Q4 24 | — | 53.5% | ||
| Q3 24 | -8.0% | 45.1% | ||
| Q2 24 | -7.5% | 45.6% | ||
| Q1 24 | -23.1% | 58.5% |
| Q4 25 | $-0.26 | $0.90 | ||
| Q3 25 | $-0.20 | $0.65 | ||
| Q2 25 | $-0.15 | $0.69 | ||
| Q1 25 | $-0.25 | $0.51 | ||
| Q4 24 | $-0.41 | $0.56 | ||
| Q3 24 | $-0.25 | $0.44 | ||
| Q2 24 | $-0.24 | $0.42 | ||
| Q1 24 | $-0.62 | $0.49 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $103.7M | $92.1M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $192.2M | $672.5M |
| Total Assets | $298.6M | $7.4B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $103.7M | $92.1M | ||
| Q3 25 | $106.5M | $99.0M | ||
| Q2 25 | $103.7M | $79.6M | ||
| Q1 25 | $118.9M | $51.7M | ||
| Q4 24 | $113.8M | $49.9M | ||
| Q3 24 | $105.7M | $44.1M | ||
| Q2 24 | $97.9M | $47.4M | ||
| Q1 24 | $107.4M | $34.8M |
| Q4 25 | $192.2M | $672.5M | ||
| Q3 25 | $197.2M | $634.3M | ||
| Q2 25 | $199.5M | $597.9M | ||
| Q1 25 | $198.0M | $563.2M | ||
| Q4 24 | $173.9M | $516.9M | ||
| Q3 24 | $185.4M | $484.6M | ||
| Q2 24 | $187.6M | $471.3M | ||
| Q1 24 | $191.9M | $452.9M |
| Q4 25 | $298.6M | $7.4B | ||
| Q3 25 | $307.0M | $7.0B | ||
| Q2 25 | $312.0M | $6.5B | ||
| Q1 25 | $308.4M | $6.0B | ||
| Q4 24 | $296.2M | $5.5B | ||
| Q3 24 | $306.2M | $5.2B | ||
| Q2 24 | $308.9M | $4.9B | ||
| Q1 24 | $315.6M | $4.6B |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-943.0K | $18.2M |
| Free Cash FlowOCF − Capex | $-1.9M | $17.9M |
| FCF MarginFCF / Revenue | -2.8% | 34.6% |
| Capex IntensityCapex / Revenue | 1.4% | 0.5% |
| Cash ConversionOCF / Net Profit | — | 0.52× |
| TTM Free Cash FlowTrailing 4 quarters | $-13.7M | $40.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-943.0K | $18.2M | ||
| Q3 25 | $2.2M | $11.5M | ||
| Q2 25 | $4.3M | $7.7M | ||
| Q1 25 | $-16.8M | $3.5M | ||
| Q4 24 | $-3.0M | $37.8M | ||
| Q3 24 | $7.0M | $-17.6M | ||
| Q2 24 | $6.7M | $11.5M | ||
| Q1 24 | $-4.7M | $10.6M |
| Q4 25 | $-1.9M | $17.9M | ||
| Q3 25 | $1.6M | $11.4M | ||
| Q2 25 | $3.7M | $7.6M | ||
| Q1 25 | $-17.1M | $3.5M | ||
| Q4 24 | $-3.3M | $37.5M | ||
| Q3 24 | $5.3M | $-17.6M | ||
| Q2 24 | $6.6M | $11.4M | ||
| Q1 24 | $-6.1M | $10.5M |
| Q4 25 | -2.8% | 34.6% | ||
| Q3 25 | 2.0% | 23.2% | ||
| Q2 25 | 4.6% | 15.9% | ||
| Q1 25 | -24.9% | 9.2% | ||
| Q4 24 | -5.0% | 96.4% | ||
| Q3 24 | 7.1% | -50.3% | ||
| Q2 24 | 8.9% | 35.1% | ||
| Q1 24 | -9.6% | 35.8% |
| Q4 25 | 1.4% | 0.5% | ||
| Q3 25 | 0.7% | 0.1% | ||
| Q2 25 | 0.9% | 0.2% | ||
| Q1 25 | 0.4% | 0.2% | ||
| Q4 24 | 0.5% | 0.7% | ||
| Q3 24 | 2.2% | 0.2% | ||
| Q2 24 | 0.1% | 0.3% | ||
| Q1 24 | 2.1% | 0.1% |
| Q4 25 | — | 0.52× | ||
| Q3 25 | — | 0.45× | ||
| Q2 25 | — | 0.29× | ||
| Q1 25 | — | 0.19× | ||
| Q4 24 | — | 1.81× | ||
| Q3 24 | — | -1.11× | ||
| Q2 24 | — | 0.78× | ||
| Q1 24 | — | 0.61× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
INGN
| Other | $36.1M | 53% |
| Non Us | $32.5M | 47% |
VEL
| Related Party | $19.3M | 37% |
| Nonrelated Party | $16.9M | 33% |
| Other | $15.4M | 30% |
