TopMark Funding continues its 2021 trend of remarkable growth as it rounds the corner headed into the last three months of the year, the company announced.
In Q3 2021, TopMark Funding exceeded its revenue goal by 20 percent. Revenue in Q3 2021 was up 267 percent year over year. Earnings also were stronger than anticipated with Q3 coming in at a net profit margin up 1.8 times from forecast at 27 percent and nominal profits up 2.2 times forecast.
Additionally, TopMark increased volume year over year (Total Amount Financed) by 117 percent and is pacing well above $100 million annually. This also marks the third consecutive quarter of outperforming target goals and continuing to solidify the company’s challenger brand position in the marketplace for commercial vehicle financing, the company says.
The company credits its record-breaking performance in part because of its commitment to attracting and retaining top senior sales talent by focusing on creating a company culture that values more meaningful partnerships with its customers and dealers.
“The TopMark team continues to outperform even our most aggressive revenue goals and we're excited to see the trend continue this quarter,” says Managing Partner and Co-Founder Evan Lang. “The quarter-over-quarter revenue growth demonstrates the demand within the trucking industry despite labor shortages that have been impacting the supply chain across every industry.”
The company says it has found success defining itself as the best-in-class employer for senior equipment finance sales professionals looking to grow their career. Additionally, TopMark has enjoyed growth by focusing on growing its dealer relationships and providing them with more value-added advanced features in its DealerLinc platform aimed at providing best in class service to the dealers it works with.
As the company sets its sight on 2022, TopMark Funding will continue to concentrate on its nationwide expansion, curate a passionate and effective sales team and develop innovation in its technology to better serve its clients and partners, the company says.