In 2005, the band released Crimson, their third album for Vagrant Records and fifth studio album overall.
Guitarist/vocalist Matt Skiba had this to say:
We are proud to be working with V2 and already feel very much a home on our new label. We found in V2 exactly what we were looking for: trust, friendship and the ability to continue to grow as a band. Yet, we left Vagrant Records on very amicable terms and are very thankful for all they have done for us thus far.
His bandmate Dan Andriano adds:
We're super excited about our new situation. V2 has managed to surround themselves with an amazing roster that transcends genres, and breaks through indie rock stereotypes.