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Side-by-side financial comparison of ON24 INC. (ONTF) and Velocity Financial, Inc. (VEL). Click either name above to swap in a different company.
Velocity Financial, Inc. is the larger business by last-quarter revenue ($51.6M vs $34.6M, roughly 1.5× ON24 INC.). Velocity Financial, Inc. runs the higher net margin — 67.3% vs -18.8%, a 86.1% gap on every dollar of revenue. On growth, Velocity Financial, Inc. posted the faster year-over-year revenue change (32.8% vs -5.6%). Velocity Financial, Inc. produced more free cash flow last quarter ($17.9M vs $-2.2M). Over the past eight quarters, Velocity Financial, Inc.'s revenue compounded faster (32.3% CAGR vs -4.2%).
ON24 Inc., a San Francisco-based company, is a cloud-based platform that develops and sells web-based webinar, virtual conferencing, content hub, and landing page applications as a service for marketing and sales teams in B2B organizations. In 2023 it expanded its offerings to include generative AI services.
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.
ONTF vs VEL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $34.6M | $51.6M |
| Net Profit | $-6.5M | $34.8M |
| Gross Margin | 74.9% | — |
| Operating Margin | -23.5% | 97.0% |
| Net Margin | -18.8% | 67.3% |
| Revenue YoY | -5.6% | 32.8% |
| Net Profit YoY | 26.8% | 67.0% |
| EPS (diluted) | $-0.15 | $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 | $34.6M | $51.6M | ||
| Q3 25 | $34.6M | $49.1M | ||
| Q2 25 | $35.3M | $47.6M | ||
| Q1 25 | $34.7M | $37.5M | ||
| Q4 24 | $36.7M | $38.9M | ||
| Q3 24 | $36.3M | $35.1M | ||
| Q2 24 | $37.3M | $32.4M | ||
| Q1 24 | $37.7M | $29.5M |
| Q4 25 | $-6.5M | $34.8M | ||
| Q3 25 | $-6.4M | $25.4M | ||
| Q2 25 | $-7.3M | $26.0M | ||
| Q1 25 | $-8.7M | $18.9M | ||
| Q4 24 | $-8.9M | $20.8M | ||
| Q3 24 | $-11.4M | $15.8M | ||
| Q2 24 | $-11.2M | $14.8M | ||
| Q1 24 | $-10.7M | $17.3M |
| Q4 25 | 74.9% | — | ||
| Q3 25 | 74.7% | — | ||
| Q2 25 | 75.1% | — | ||
| Q1 25 | 73.8% | — | ||
| Q4 24 | 74.5% | — | ||
| Q3 24 | 74.3% | — | ||
| Q2 24 | 74.5% | — | ||
| Q1 24 | 74.1% | — |
| Q4 25 | -23.5% | 97.0% | ||
| Q3 25 | -23.1% | 72.1% | ||
| Q2 25 | -26.0% | 71.3% | ||
| Q1 25 | -30.1% | 71.7% | ||
| Q4 24 | -32.1% | 82.5% | ||
| Q3 24 | -36.7% | 60.6% | ||
| Q2 24 | -35.0% | 61.3% | ||
| Q1 24 | -33.1% | 78.8% |
| Q4 25 | -18.8% | 67.3% | ||
| Q3 25 | -18.4% | 51.7% | ||
| Q2 25 | -20.6% | 54.6% | ||
| Q1 25 | -25.1% | 50.4% | ||
| Q4 24 | -24.2% | 53.5% | ||
| Q3 24 | -31.4% | 45.1% | ||
| Q2 24 | -29.9% | 45.6% | ||
| Q1 24 | -28.4% | 58.5% |
| Q4 25 | $-0.15 | $0.90 | ||
| Q3 25 | $-0.15 | $0.65 | ||
| Q2 25 | $-0.17 | $0.69 | ||
| Q1 25 | $-0.21 | $0.51 | ||
| Q4 24 | $-0.21 | $0.56 | ||
| Q3 24 | $-0.27 | $0.44 | ||
| Q2 24 | $-0.27 | $0.42 | ||
| Q1 24 | $-0.26 | $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 | $37.0M | $92.1M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $139.4M | $672.5M |
| Total Assets | $228.4M | $7.4B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $37.0M | $92.1M | ||
| Q3 25 | $47.2M | $99.0M | ||
| Q2 25 | $37.7M | $79.6M | ||
| Q1 25 | $26.8M | $51.7M | ||
| Q4 24 | $14.9M | $49.9M | ||
| Q3 24 | $11.0M | $44.1M | ||
| Q2 24 | $15.5M | $47.4M | ||
| Q1 24 | $18.3M | $34.8M |
| Q4 25 | $139.4M | $672.5M | ||
| Q3 25 | $144.3M | $634.3M | ||
| Q2 25 | $150.0M | $597.9M | ||
| Q1 25 | $153.7M | $563.2M | ||
| Q4 24 | $159.4M | $516.9M | ||
| Q3 24 | $164.9M | $484.6M | ||
| Q2 24 | $170.8M | $471.3M | ||
| Q1 24 | $174.4M | $452.9M |
| Q4 25 | $228.4M | $7.4B | ||
| Q3 25 | $224.8M | $7.0B | ||
| Q2 25 | $235.1M | $6.5B | ||
| Q1 25 | $245.8M | $6.0B | ||
| Q4 24 | $251.0M | $5.5B | ||
| Q3 24 | $250.9M | $5.2B | ||
| Q2 24 | $259.0M | $4.9B | ||
| Q1 24 | $269.2M | $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 | $-1.1M | $18.2M |
| Free Cash FlowOCF − Capex | $-2.2M | $17.9M |
| FCF MarginFCF / Revenue | -6.4% | 34.6% |
| Capex IntensityCapex / Revenue | 3.3% | 0.5% |
| Cash ConversionOCF / Net Profit | — | 0.52× |
| TTM Free Cash FlowTrailing 4 quarters | $4.0M | $40.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-1.1M | $18.2M | ||
| Q3 25 | $2.5M | $11.5M | ||
| Q2 25 | $2.6M | $7.7M | ||
| Q1 25 | $3.4M | $3.5M | ||
| Q4 24 | $985.0K | $37.8M | ||
| Q3 24 | $295.0K | $-17.6M | ||
| Q2 24 | $1.4M | $11.5M | ||
| Q1 24 | $2.1M | $10.6M |
| Q4 25 | $-2.2M | $17.9M | ||
| Q3 25 | $2.2M | $11.4M | ||
| Q2 25 | $2.1M | $7.6M | ||
| Q1 25 | $1.9M | $3.5M | ||
| Q4 24 | $424.0K | $37.5M | ||
| Q3 24 | $143.0K | $-17.6M | ||
| Q2 24 | $898.0K | $11.4M | ||
| Q1 24 | $1.1M | $10.5M |
| Q4 25 | -6.4% | 34.6% | ||
| Q3 25 | 6.2% | 23.2% | ||
| Q2 25 | 5.9% | 15.9% | ||
| Q1 25 | 5.6% | 9.2% | ||
| Q4 24 | 1.2% | 96.4% | ||
| Q3 24 | 0.4% | -50.3% | ||
| Q2 24 | 2.4% | 35.1% | ||
| Q1 24 | 2.9% | 35.8% |
| Q4 25 | 3.3% | 0.5% | ||
| Q3 25 | 1.1% | 0.1% | ||
| Q2 25 | 1.4% | 0.2% | ||
| Q1 25 | 4.2% | 0.2% | ||
| Q4 24 | 1.5% | 0.7% | ||
| Q3 24 | 0.4% | 0.2% | ||
| Q2 24 | 1.3% | 0.3% | ||
| Q1 24 | 2.8% | 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
ONTF
Segment breakdown not available.
VEL
| Related Party | $19.3M | 37% |
| Nonrelated Party | $16.9M | 33% |
| Other | $15.4M | 30% |
