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Side-by-side financial comparison of TSS, Inc. (TSSI) and Velocity Financial, Inc. (VEL). Click either name above to swap in a different company.
TSS, Inc. is the larger business by last-quarter revenue ($60.9M vs $51.6M, roughly 1.2× Velocity Financial, Inc.). Velocity Financial, Inc. runs the higher net margin — 67.3% vs 20.0%, a 47.4% gap on every dollar of revenue. On growth, Velocity Financial, Inc. posted the faster year-over-year revenue change (32.8% vs 21.8%). Velocity Financial, Inc. produced more free cash flow last quarter ($17.9M vs $15.8M). Over the past eight quarters, TSS, Inc.'s revenue compounded faster (95.8% CAGR vs 32.3%).
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.
TSSI vs VEL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $60.9M | $51.6M |
| Net Profit | $12.2M | $34.8M |
| Gross Margin | 17.6% | — |
| Operating Margin | 1.5% | 97.0% |
| Net Margin | 20.0% | 67.3% |
| Revenue YoY | 21.8% | 32.8% |
| Net Profit YoY | 535.7% | 67.0% |
| EPS (diluted) | $0.44 | $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 | $60.9M | $51.6M | ||
| Q3 25 | $41.9M | $49.1M | ||
| Q2 25 | $44.0M | $47.6M | ||
| Q1 25 | $99.0M | $37.5M | ||
| Q4 24 | $50.0M | $38.9M | ||
| Q3 24 | $70.1M | $35.1M | ||
| Q2 24 | $12.2M | $32.4M | ||
| Q1 24 | $15.9M | $29.5M |
| Q4 25 | $12.2M | $34.8M | ||
| Q3 25 | $-1.5M | $25.4M | ||
| Q2 25 | $1.5M | $26.0M | ||
| Q1 25 | $3.0M | $18.9M | ||
| Q4 24 | $1.9M | $20.8M | ||
| Q3 24 | $2.6M | $15.8M | ||
| Q2 24 | $1.4M | $14.8M | ||
| Q1 24 | $15.0K | $17.3M |
| Q4 25 | 17.6% | — | ||
| Q3 25 | 11.1% | — | ||
| Q2 25 | 17.8% | — | ||
| Q1 25 | 9.3% | — | ||
| Q4 24 | 14.4% | — | ||
| Q3 24 | 11.3% | — | ||
| Q2 24 | 37.3% | — | ||
| Q1 24 | 17.1% | — |
| Q4 25 | 1.5% | 97.0% | ||
| Q3 25 | -2.2% | 72.1% | ||
| Q2 25 | 5.1% | 71.3% | ||
| Q1 25 | 4.2% | 71.7% | ||
| Q4 24 | 0.0% | 82.5% | ||
| Q3 24 | 5.4% | 60.6% | ||
| Q2 24 | 14.0% | 61.3% | ||
| Q1 24 | 1.6% | 78.8% |
| Q4 25 | 20.0% | 67.3% | ||
| Q3 25 | -3.6% | 51.7% | ||
| Q2 25 | 3.4% | 54.6% | ||
| Q1 25 | 3.0% | 50.4% | ||
| Q4 24 | 3.8% | 53.5% | ||
| Q3 24 | 3.8% | 45.1% | ||
| Q2 24 | 11.5% | 45.6% | ||
| Q1 24 | 0.1% | 58.5% |
| Q4 25 | $0.44 | $0.90 | ||
| Q3 25 | $-0.06 | $0.65 | ||
| Q2 25 | $0.06 | $0.69 | ||
| Q1 25 | $0.12 | $0.51 | ||
| Q4 24 | $0.08 | $0.56 | ||
| Q3 24 | $0.10 | $0.44 | ||
| Q2 24 | $0.06 | $0.42 | ||
| Q1 24 | $0.00 | $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 | $85.5M | $92.1M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $76.6M | $672.5M |
| Total Assets | $184.9M | $7.4B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $85.5M | $92.1M | ||
| Q3 25 | $70.7M | $99.0M | ||
| Q2 25 | — | $79.6M | ||
| Q1 25 | — | $51.7M | ||
| Q4 24 | $23.2M | $49.9M | ||
| Q3 24 | $46.4M | $44.1M | ||
| Q2 24 | $8.3M | $47.4M | ||
| Q1 24 | $14.4M | $34.8M |
| Q4 25 | $76.6M | $672.5M | ||
| Q3 25 | $63.4M | $634.3M | ||
| Q2 25 | $9.5M | $597.9M | ||
| Q1 25 | $9.4M | $563.2M | ||
| Q4 24 | $7.1M | $516.9M | ||
| Q3 24 | $7.7M | $484.6M | ||
| Q2 24 | $5.2M | $471.3M | ||
| Q1 24 | $3.7M | $452.9M |
| Q4 25 | $184.9M | $7.4B | ||
| Q3 25 | $165.4M | $7.0B | ||
| Q2 25 | $139.5M | $6.5B | ||
| Q1 25 | $113.5M | $6.0B | ||
| Q4 24 | $96.6M | $5.5B | ||
| Q3 24 | $67.3M | $5.2B | ||
| Q2 24 | $28.9M | $4.9B | ||
| Q1 24 | $26.8M | $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 | $16.3M | $18.2M |
| Free Cash FlowOCF − Capex | $15.8M | $17.9M |
| FCF MarginFCF / Revenue | 25.9% | 34.6% |
| Capex IntensityCapex / Revenue | 0.9% | 0.5% |
| Cash ConversionOCF / Net Profit | 1.34× | 0.52× |
| TTM Free Cash FlowTrailing 4 quarters | $2.1M | $40.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $16.3M | $18.2M | ||
| Q3 25 | $-18.4M | $11.5M | ||
| Q2 25 | $16.3M | $7.7M | ||
| Q1 25 | $20.6M | $3.5M | ||
| Q4 24 | $-21.6M | $37.8M | ||
| Q3 24 | $38.6M | $-17.6M | ||
| Q2 24 | $-4.3M | $11.5M | ||
| Q1 24 | $2.6M | $10.6M |
| Q4 25 | $15.8M | $17.9M | ||
| Q3 25 | $-24.9M | $11.4M | ||
| Q2 25 | $5.4M | $7.6M | ||
| Q1 25 | $5.8M | $3.5M | ||
| Q4 24 | $-28.4M | $37.5M | ||
| Q3 24 | $38.6M | $-17.6M | ||
| Q2 24 | $-6.0M | $11.4M | ||
| Q1 24 | $2.6M | $10.5M |
| Q4 25 | 25.9% | 34.6% | ||
| Q3 25 | -59.3% | 23.2% | ||
| Q2 25 | 12.3% | 15.9% | ||
| Q1 25 | 5.8% | 9.2% | ||
| Q4 24 | -56.7% | 96.4% | ||
| Q3 24 | 55.1% | -50.3% | ||
| Q2 24 | -49.4% | 35.1% | ||
| Q1 24 | 16.4% | 35.8% |
| Q4 25 | 0.9% | 0.5% | ||
| Q3 25 | 15.3% | 0.1% | ||
| Q2 25 | 24.8% | 0.2% | ||
| Q1 25 | 15.0% | 0.2% | ||
| Q4 24 | 13.4% | 0.7% | ||
| Q3 24 | 0.1% | 0.2% | ||
| Q2 24 | 13.8% | 0.3% | ||
| Q1 24 | 0.2% | 0.1% |
| Q4 25 | 1.34× | 0.52× | ||
| Q3 25 | — | 0.45× | ||
| Q2 25 | 11.02× | 0.29× | ||
| Q1 25 | 6.93× | 0.19× | ||
| Q4 24 | -11.32× | 1.81× | ||
| Q3 24 | 14.60× | -1.11× | ||
| Q2 24 | -3.09× | 0.78× | ||
| Q1 24 | 176.40× | 0.61× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
TSSI
| Procurement Revenues Segment | $43.2M | 71% |
| System Integration Services Segment | $14.2M | 23% |
| Facilities Segment | $3.5M | 6% |
VEL
| Related Party | $19.3M | 37% |
| Nonrelated Party | $16.9M | 33% |
| Other | $15.4M | 30% |
