Also trades as: VBNK.TO (TSX) · $vol 1M · VB.TO (TSX) · $vol 0M

$22.34

-0.98 (-4.20%)

After Hours: $22.15 (-0.19, -0.85%)

Weekly Expected Move ±3.9%

$21 $22 $23 $24 $25

NASDAQ · Financial Services · Banks - Regional · Tech Score Buy · Power 63 · $724.2M mcap · 21M float · 0.615% daily turnover · Short 66% of daily vol

Credit Risk of going bust: not rated, financial company (lending is its business) Bonds: none of note held by US funds details ▾

Not rated: lending and leverage are a financial company's business, which the model misreads.
US fund filings (SEC N-PORT) show under $25M of this company's bonds, so there is no bond page. Its debt may be bank loans or privately placed. How these are computed.

Overview Chart Smart Money Financials Income Statement Cash Flow Balance Sheet Earnings

Analysis Technicals Weather Peers ESG Institutions ETF Exposure Dark Pool Short Interest

Income Trends

Revenue

$120M +7.7% ▲

5Y CAGR: +6.9%

Gross Profit

$120M +7.7% ▲

5Y CAGR: +17.1%

Operating Income

$41M -24.3% ▼

5Y CAGR: +9.2%

Net Income

$28M -28.4% ▼

5Y CAGR: +8.0%

EPS (Diluted)

$0.90 -39.6% ▼

5Y CAGR: +1.9%

EBITDA

$45M -22.3% ▼

5Y CAGR: +9.8%

Profit Margins

Year-over-Year Growth

View Full Income Statement

Line Item	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	$95M	$133M	$238M	$112M	$120M
YoY Growth	+9.9%	+40.0%	+79.5%	-53.1%	+7.7%
Cost of Revenue	$29M	$51M	$130M	$0	$0
Gross Profit	$66M	$82M	$108M	$112M	$120M
Gross Margin	69.5%	61.8%	45.4%	100.0%	100.0%
R&D Expenses	$0	$0	$0	$0	$0
SG&A Expenses	$31M	$46M	$46M	$52M	$79M
Operating Expenses	$35M	$49M	$50M	$57M	$79M
Operating Income	$31M	$33M	$58M	$55M	$41M
Operating Margin	32.5%	24.6%	24.2%	49.1%	34.5%
Interest Expense	$29M	$50M	$129M	$183M	$180M
Income Before Tax	$31M	$33M	$58M	$55M	$41M
Tax Expense	$8M	$10M	$15M	$15M	$13M
Net Income	$22M	$23M	$42M	$40M	$28M
Net Margin	23.6%	17.1%	17.7%	35.6%	23.7%
EPS (Diluted)	$0.96	$0.79	$1.57	$1.49	$0.90
EBITDA	$33M	$34M	$59M	$57M	$45M
Shares Outstanding	22M	27M	26M	26M	32M

Line Item	FY2024 Q4	FY2025 Q1	FY2025 Q2	FY2025 Q3	FY2025 Q4	FY2026 Q1	FY2026 Q2	FY2026 Q3
Revenue	$76M	$75M	$73M	$76M	$80M	$84M	$86M	$39M
Cost of Revenue	$48M	$49M	$44M	$45M	$46M	$48M	$48M	$53M
Gross Profit	$27M	$27M	$29M	$30M	$34M	$36M	$38M	$39M
Gross Margin	36.3%	35.6%	40.0%	40.1%	42.3%	42.7%	44.2%	100.0%
R&D Expenses	$0	$0	$0	$0	$0	$0	$0	$0
SG&A Expenses	$18M	$14M	$16M	$20M	$24M	$12M	$13M	$15M
Operating Expenses	$19M	$16M	$18M	$22M	$24M	$21M	$27M	$25M
Operating Income	$8M	$11M	$12M	$9M	$10M	$15M	$10M	$14M
Operating Margin	10.7%	14.7%	16.1%	11.5%	12.4%	18.2%	12.1%	35.5%
Interest Expense	$48M	$48M	$43M	$44M	$45M	$47M	$47M	$54M
Income Before Tax	$8M	$11M	$12M	$9M	$10M	$15M	$10M	$14M
Tax Expense	$3M	$3M	$3M	$2M	$5M	$4M	$3M	$4M
Net Income	$6M	$8M	$9M	$7M	$5M	$11M	$8M	$10M
Net Margin	7.3%	10.8%	11.7%	8.7%	6.5%	13.2%	8.8%	25.8%
EPS (Diluted)	$0.20	$0.28	$0.26	$0.20	$0.16	$0.35	$0.23	$0.31
EBITDA	$9M	$12M	$12M	$9M	$11M	$16M	$11M	$15M
Shares Outstanding	26M	29M	33M	32M	33M	23M	32M	23M

VBNK NASDAQ

Income Trends

Profit Margins

Year-over-Year Growth

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