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Earnings Per Share (Tables)

9 Months Ended

Sep. 30, 2025

Earnings Per Share [Abstract]

Schedule of Basic and Diluted Earnings Per Share Calculations

The following table presents the basic and diluted earnings per share calculations for the three and nine months ended September 30, 2025 and 2024:

		Three Months Ended September 30,								Nine Months Ended September 30,
		2025				2024				2025				2024
		(In thousands, except per share data)
Basic EPS:
Net income attributable to Velocity Financial, Inc.		$	25,373			$	15,803			$	70,257			$	47,832
Less: undistributed earnings attributable to unvested restricted stock awards			352				191				871				580
Net earnings attributable to common stockholders		$	25,021			$	15,612			$	69,386			$	47,252
Weighted average common shares outstanding			38,073				32,711				36,335				32,613
Basic earnings per common share		$	0.66			$	0.48			$	1.91			$	1.45
Diluted EPS:
Net income attributable to Velocity Financial, Inc.		$	25,373			$	15,803			$	70,257			$	47,832
Weighted average common shares outstanding			38,073				32,711				36,335				32,613
Add dilutive effects for warrants			—				2,435				811				2,391
Add dilutive effects for stock options			221				238				219				199
Add dilutive effects of unvested restricted stock awards			138				185				120				163
Add dilutive effects of unvested performance-based stock units			368				323				331				278
Add dilutive effects of employee stock purchase plan			—				3				1				1
Weighted average diluted common shares outstanding			38,800				35,895				37,817				35,645
Diluted earnings per common share		$	0.65			$	0.44			$	1.86			$	1.34

Schedule of Antidilutive Securities Excluded from Computation of Diluted Earnings Per Share

The following table sets forth the number of shares excluded from the computation of diluted earnings per share, as their inclusion would have been anti-dilutive:

		Three Months Ended September 30,								Nine Months Ended September 30,
		2025(1)				2024				2025(1)				2024(1)
Stock options			317,581				83,359				314,421				27,853
Unvested restricted stock awards			—				5,485				65,765				70,368
Employee stock purchase plan			—				—				—				35,846
Share equivalents excluded from EPS			317,581				88,844				380,186				134,067

(1)Weighted average.

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- References

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- Definition

Tabular disclosure of securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) in the future that were not included in the computation of diluted EPS because to do so would increase EPS amounts or decrease loss per share amounts for the period presented, by antidilutive securities.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482662/260-10-50-1

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- Definition

Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482662/260-10-50-1

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