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Side-by-side financial comparison of TrueCar, Inc. (TRUE) 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 $43.2M, roughly 1.2× TrueCar, Inc.). Velocity Financial, Inc. runs the higher net margin — 67.3% vs 11.6%, a 55.8% gap on every dollar of revenue. On growth, Velocity Financial, Inc. posted the faster year-over-year revenue change (32.8% vs -7.2%). Velocity Financial, Inc. produced more free cash flow last quarter ($17.9M vs $11.2M). Over the past eight quarters, Velocity Financial, Inc.'s revenue compounded faster (32.3% CAGR vs 2.3%).
TrueCar, Inc. is an American car retailing website company headquartered in Santa Monica, California. It also maintains a sales office in Austin, Texas.
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.
TRUE vs VEL — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $43.2M | $51.6M |
| Net Profit | $5.0M | $34.8M |
| Gross Margin | — | — |
| Operating Margin | -17.0% | 97.0% |
| Net Margin | 11.6% | 67.3% |
| Revenue YoY | -7.2% | 32.8% |
| Net Profit YoY | 185.7% | 67.0% |
| EPS (diluted) | — | $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 | — | $51.6M | ||
| Q3 25 | $43.2M | $49.1M | ||
| Q2 25 | $47.0M | $47.6M | ||
| Q1 25 | $44.8M | $37.5M | ||
| Q4 24 | $46.2M | $38.9M | ||
| Q3 24 | $46.5M | $35.1M | ||
| Q2 24 | $41.8M | $32.4M | ||
| Q1 24 | $41.1M | $29.5M |
| Q4 25 | — | $34.8M | ||
| Q3 25 | $5.0M | $25.4M | ||
| Q2 25 | $-7.6M | $26.0M | ||
| Q1 25 | $-10.1M | $18.9M | ||
| Q4 24 | $-5.8M | $20.8M | ||
| Q3 24 | $-5.8M | $15.8M | ||
| Q2 24 | $-13.5M | $14.8M | ||
| Q1 24 | $-5.8M | $17.3M |
| Q4 25 | — | 97.0% | ||
| Q3 25 | -17.0% | 72.1% | ||
| Q2 25 | -18.3% | 71.3% | ||
| Q1 25 | -25.0% | 71.7% | ||
| Q4 24 | -15.4% | 82.5% | ||
| Q3 24 | -15.9% | 60.6% | ||
| Q2 24 | -36.3% | 61.3% | ||
| Q1 24 | -18.2% | 78.8% |
| Q4 25 | — | 67.3% | ||
| Q3 25 | 11.6% | 51.7% | ||
| Q2 25 | -16.2% | 54.6% | ||
| Q1 25 | -22.6% | 50.4% | ||
| Q4 24 | -12.7% | 53.5% | ||
| Q3 24 | -12.5% | 45.1% | ||
| Q2 24 | -32.3% | 45.6% | ||
| Q1 24 | -14.2% | 58.5% |
| Q4 25 | — | $0.90 | ||
| Q3 25 | — | $0.65 | ||
| Q2 25 | — | $0.69 | ||
| Q1 25 | — | $0.51 | ||
| Q4 24 | — | $0.56 | ||
| Q3 24 | — | $0.44 | ||
| Q2 24 | — | $0.42 | ||
| Q1 24 | — | $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 | $103.2M | $92.1M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $114.2M | $672.5M |
| Total Assets | $148.7M | $7.4B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $92.1M | ||
| Q3 25 | $103.2M | $99.0M | ||
| Q2 25 | $92.5M | $79.6M | ||
| Q1 25 | $98.0M | $51.7M | ||
| Q4 24 | $111.8M | $49.9M | ||
| Q3 24 | $114.5M | $44.1M | ||
| Q2 24 | $128.0M | $47.4M | ||
| Q1 24 | $133.7M | $34.8M |
| Q4 25 | — | $672.5M | ||
| Q3 25 | $114.2M | $634.3M | ||
| Q2 25 | $106.4M | $597.9M | ||
| Q1 25 | $111.1M | $563.2M | ||
| Q4 24 | $118.1M | $516.9M | ||
| Q3 24 | $128.0M | $484.6M | ||
| Q2 24 | $143.9M | $471.3M | ||
| Q1 24 | $156.0M | $452.9M |
| Q4 25 | — | $7.4B | ||
| Q3 25 | $148.7M | $7.0B | ||
| Q2 25 | $139.8M | $6.5B | ||
| Q1 25 | $145.0M | $6.0B | ||
| Q4 24 | $159.7M | $5.5B | ||
| Q3 24 | $167.5M | $5.2B | ||
| Q2 24 | $183.0M | $4.9B | ||
| Q1 24 | $193.5M | $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 | $12.7M | $18.2M |
| Free Cash FlowOCF − Capex | $11.2M | $17.9M |
| FCF MarginFCF / Revenue | 25.9% | 34.6% |
| Capex IntensityCapex / Revenue | 3.5% | 0.5% |
| Cash ConversionOCF / Net Profit | 2.55× | 0.52× |
| TTM Free Cash FlowTrailing 4 quarters | $-19.0K | $40.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $18.2M | ||
| Q3 25 | $12.7M | $11.5M | ||
| Q2 25 | $-2.8M | $7.7M | ||
| Q1 25 | $-7.9M | $3.5M | ||
| Q4 24 | $5.9M | $37.8M | ||
| Q3 24 | $1.8M | $-17.6M | ||
| Q2 24 | $-2.0M | $11.5M | ||
| Q1 24 | $2.0M | $10.6M |
| Q4 25 | — | $17.9M | ||
| Q3 25 | $11.2M | $11.4M | ||
| Q2 25 | $-4.8M | $7.6M | ||
| Q1 25 | $-10.6M | $3.5M | ||
| Q4 24 | $4.1M | $37.5M | ||
| Q3 24 | $-170.0K | $-17.6M | ||
| Q2 24 | $-3.6M | $11.4M | ||
| Q1 24 | $-511.0K | $10.5M |
| Q4 25 | — | 34.6% | ||
| Q3 25 | 25.9% | 23.2% | ||
| Q2 25 | -10.2% | 15.9% | ||
| Q1 25 | -23.6% | 9.2% | ||
| Q4 24 | 9.0% | 96.4% | ||
| Q3 24 | -0.4% | -50.3% | ||
| Q2 24 | -8.7% | 35.1% | ||
| Q1 24 | -1.2% | 35.8% |
| Q4 25 | — | 0.5% | ||
| Q3 25 | 3.5% | 0.1% | ||
| Q2 25 | 4.2% | 0.2% | ||
| Q1 25 | 6.0% | 0.2% | ||
| Q4 24 | 3.7% | 0.7% | ||
| Q3 24 | 4.2% | 0.2% | ||
| Q2 24 | 3.9% | 0.3% | ||
| Q1 24 | 6.2% | 0.1% |
| Q4 25 | — | 0.52× | ||
| Q3 25 | 2.55× | 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
TRUE
Segment breakdown not available.
VEL
| Related Party | $19.3M | 37% |
| Nonrelated Party | $16.9M | 33% |
| Other | $15.4M | 30% |
