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Side-by-side financial comparison of RxSight, Inc. (RXST) 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 $32.6M, roughly 1.6× RxSight, Inc.). Velocity Financial, Inc. runs the higher net margin — 67.3% vs -28.1%, a 95.4% gap on every dollar of revenue. On growth, Velocity Financial, Inc. posted the faster year-over-year revenue change (32.8% vs -18.9%). Velocity Financial, Inc. produced more free cash flow last quarter ($17.9M vs $-2.3M). Over the past eight quarters, Velocity Financial, Inc.'s revenue compounded faster (32.3% CAGR vs 5.1%).
RxSight, Inc. is a medical technology company focused on developing and commercializing innovative intraocular lens solutions for patients undergoing cataract and refractive lens exchange procedures. Its flagship Light Adjustable Lens allows post-surgery power adjustment via a dedicated light delivery device, serving global ophthalmology care markets to improve post-operative visual outcomes for patients.
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.
RXST vs VEL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $32.6M | $51.6M |
| Net Profit | $-9.2M | $34.8M |
| Gross Margin | 77.5% | — |
| Operating Margin | -34.8% | 97.0% |
| Net Margin | -28.1% | 67.3% |
| Revenue YoY | -18.9% | 32.8% |
| Net Profit YoY | -54.1% | 67.0% |
| EPS (diluted) | $-0.22 | $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 | $32.6M | $51.6M | ||
| Q3 25 | $30.3M | $49.1M | ||
| Q2 25 | $33.6M | $47.6M | ||
| Q1 25 | $37.9M | $37.5M | ||
| Q4 24 | $40.2M | $38.9M | ||
| Q3 24 | $35.3M | $35.1M | ||
| Q2 24 | $34.9M | $32.4M | ||
| Q1 24 | $29.5M | $29.5M |
| Q4 25 | $-9.2M | $34.8M | ||
| Q3 25 | $-9.8M | $25.4M | ||
| Q2 25 | $-11.8M | $26.0M | ||
| Q1 25 | $-8.2M | $18.9M | ||
| Q4 24 | $-5.9M | $20.8M | ||
| Q3 24 | $-6.3M | $15.8M | ||
| Q2 24 | $-6.1M | $14.8M | ||
| Q1 24 | $-9.1M | $17.3M |
| Q4 25 | 77.5% | — | ||
| Q3 25 | 79.9% | — | ||
| Q2 25 | 74.9% | — | ||
| Q1 25 | 74.8% | — | ||
| Q4 24 | 71.6% | — | ||
| Q3 24 | 71.4% | — | ||
| Q2 24 | 69.5% | — | ||
| Q1 24 | 70.1% | — |
| Q4 25 | -34.8% | 97.0% | ||
| Q3 25 | -40.1% | 72.1% | ||
| Q2 25 | -41.6% | 71.3% | ||
| Q1 25 | -28.2% | 71.7% | ||
| Q4 24 | -21.5% | 82.5% | ||
| Q3 24 | -26.1% | 60.6% | ||
| Q2 24 | -23.9% | 61.3% | ||
| Q1 24 | -36.2% | 78.8% |
| Q4 25 | -28.1% | 67.3% | ||
| Q3 25 | -32.4% | 51.7% | ||
| Q2 25 | -35.0% | 54.6% | ||
| Q1 25 | -21.6% | 50.4% | ||
| Q4 24 | -14.8% | 53.5% | ||
| Q3 24 | -17.9% | 45.1% | ||
| Q2 24 | -17.4% | 45.6% | ||
| Q1 24 | -30.8% | 58.5% |
| Q4 25 | $-0.22 | $0.90 | ||
| Q3 25 | $-0.24 | $0.65 | ||
| Q2 25 | $-0.29 | $0.69 | ||
| Q1 25 | $-0.20 | $0.51 | ||
| Q4 24 | $-0.14 | $0.56 | ||
| Q3 24 | $-0.16 | $0.44 | ||
| Q2 24 | $-0.16 | $0.42 | ||
| Q1 24 | $-0.25 | $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 | $228.1M | $92.1M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $275.7M | $672.5M |
| Total Assets | $311.8M | $7.4B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $228.1M | $92.1M | ||
| Q3 25 | $227.5M | $99.0M | ||
| Q2 25 | $227.5M | $79.6M | ||
| Q1 25 | $229.3M | $51.7M | ||
| Q4 24 | $237.2M | $49.9M | ||
| Q3 24 | $237.1M | $44.1M | ||
| Q2 24 | $233.3M | $47.4M | ||
| Q1 24 | $125.4M | $34.8M |
| Q4 25 | $275.7M | $672.5M | ||
| Q3 25 | $276.0M | $634.3M | ||
| Q2 25 | $278.0M | $597.9M | ||
| Q1 25 | $279.3M | $563.2M | ||
| Q4 24 | $281.2M | $516.9M | ||
| Q3 24 | $277.3M | $484.6M | ||
| Q2 24 | $275.2M | $471.3M | ||
| Q1 24 | $163.9M | $452.9M |
| Q4 25 | $311.8M | $7.4B | ||
| Q3 25 | $308.5M | $7.0B | ||
| Q2 25 | $309.0M | $6.5B | ||
| Q1 25 | $313.0M | $6.0B | ||
| Q4 24 | $318.6M | $5.5B | ||
| Q3 24 | $310.5M | $5.2B | ||
| Q2 24 | $305.5M | $4.9B | ||
| Q1 24 | $183.2M | $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 | $-2.3M | $17.9M |
| FCF MarginFCF / Revenue | -6.9% | 34.6% |
| Capex IntensityCapex / Revenue | 3.5% | 0.5% |
| Cash ConversionOCF / Net Profit | — | 0.52× |
| TTM Free Cash FlowTrailing 4 quarters | $-19.3M | $40.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-1.1M | $18.2M | ||
| Q3 25 | $-1.2M | $11.5M | ||
| Q2 25 | $-4.4M | $7.7M | ||
| Q1 25 | $-8.8M | $3.5M | ||
| Q4 24 | $-4.3M | $37.8M | ||
| Q3 24 | $650.0K | $-17.6M | ||
| Q2 24 | $-4.0M | $11.5M | ||
| Q1 24 | $-9.3M | $10.6M |
| Q4 25 | $-2.3M | $17.9M | ||
| Q3 25 | $-1.8M | $11.4M | ||
| Q2 25 | $-5.9M | $7.6M | ||
| Q1 25 | $-9.4M | $3.5M | ||
| Q4 24 | $-5.1M | $37.5M | ||
| Q3 24 | $-453.0K | $-17.6M | ||
| Q2 24 | $-5.5M | $11.4M | ||
| Q1 24 | $-11.3M | $10.5M |
| Q4 25 | -6.9% | 34.6% | ||
| Q3 25 | -5.8% | 23.2% | ||
| Q2 25 | -17.6% | 15.9% | ||
| Q1 25 | -24.8% | 9.2% | ||
| Q4 24 | -12.7% | 96.4% | ||
| Q3 24 | -1.3% | -50.3% | ||
| Q2 24 | -15.9% | 35.1% | ||
| Q1 24 | -38.2% | 35.8% |
| Q4 25 | 3.5% | 0.5% | ||
| Q3 25 | 1.9% | 0.1% | ||
| Q2 25 | 4.6% | 0.2% | ||
| Q1 25 | 1.5% | 0.2% | ||
| Q4 24 | 2.1% | 0.7% | ||
| Q3 24 | 3.1% | 0.2% | ||
| Q2 24 | 4.4% | 0.3% | ||
| Q1 24 | 6.7% | 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
RXST
| Rxlal | $28.2M | 86% |
| LDD | $3.0M | 9% |
| Service Warranty Service Contracts And Accessories | $1.5M | 4% |
VEL
| Related Party | $19.3M | 37% |
| Nonrelated Party | $16.9M | 33% |
| Other | $15.4M | 30% |
