TopMark Funding recently closed a goal-breaking quarter, helping to build on the momentum of a tremendous year and deliver results that make 2021 the highest-performing year in the company's seven-year history.
In the fourth quarter of 2021, TopMark Funding reports it exceeded its revenue goal by 38 percent. Revenue in the quarter was up three times year over year and the company finished ahead of its 2021 annual goal by 19 percent. The strong fourth quarter, despite industry talent shortages and limited truck inventory, is attributed to both increased commercial vehicle transportation needs as the country settles in to its new normal and TopMark continues to develop and build an impactful team, systems and approach to serving the transportation marketplace, the company says.
“The success that TopMark experienced in 2021 couldn’t be realized without the dedication and commitment of the senior operational and sales talent,” says Managing Director and Co-Founder Evan Lang. “We know that our clients are receiving better funding solutions from the TopMark team, and we are excited to expand our service and impact on both the client the dealership segments in 2022.”
TopMark also announced its earnings continue to be stronger than anticipated with the fourth quarter coming in at a net profit margin up 125 percent from forecast. Additionally, TopMark closed the year with an increased volume (Total Amount Financed) of 2.3 times year over year performance. The company says it exited 2021 with performance on an annualized run rate set to exceed $144 million in volume.
In 2021, the company found success defining itself as the best-in-class employer for senior equipment finance sales professionals and centering its business on growing dealer relationships. TopMark says these are key areas that customers can expect to see more of from the company in the coming months. As the organization turns its attention to 2022, TopMark Funding says it is laser-focused on growth through geographic expansion, a continued emphasis on talent and evolving innovation in its technology to better serve its clients and partners. The company is aggressive in its outlook for continued expansion over the next 12 months.