← Finance of America Companies Inc.
| Annual Trend | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| TOTAL REVENUES | $1.8m | $3.5m | $3.9m | $891.5m | $1.8b | $6.7m | $573.2m | $234.2m | $338.2m | $497.4m | |
| Cost of Revenue | $75k | $73k | $86k | $55k | $73k | $5.0m | $429.9m | $175.7m | $253.6m | $373.1m | |
| Interest income | — | — | — | $37.3m | $42.6m | — | $47.6m | $12.2m | $1.9b | $1.9b | |
| NET PORTFOLIO INTEREST INCOME | ($101.4m) | ($80.4m) | ($104.1m) | ($106.5m) | $267.9m | $260.8m | |||||
| Net origination gains | — | — | — | — | — | — | — | $121.6m | $179.8m | $226.1m | |
| Gains on securitization of home equity conversion mortgage (“HECM”) tails, net | — | — | — | — | — | — | — | $25.6m | $45.5m | $45.4m | |
| Fair value changes from model amortization | — | — | — | — | — | — | — | ($228.4m) | ($201.1m) | ($153.7m) | |
| Fair value changes from market inputs or model assumptions | — | — | — | — | — | — | — | $58.7m | $55.9m | $147.0m | |
| Net fair value changes on loans and related obligations | — | — | — | — | — | — | — | ($22.5m) | $80.2m | $264.7m | |
| Fee income | — | — | — | $199.1m | $389.9m | — | $81.8m | $43.5m | $29.2m | $29.5m | |
| Amortization and depreciation | — | — | — | — | — | — | $42.0m | $42.4m | $38.9m | $38.6m | |
| IMPAIRMENT OF OTHER ASSETS | ($891k) | $0 | |||||||||
| OTHER, NET | ($8k) | ($52k) | $4.3m | ($6.1m) | $35.8m | $211k | ($6.9m) | ($14.8m) | |||
| NET INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES | $77.6m | $500.3m | ($732.1m) | ($166.8m) | $42.8m | $113.1m | |||||
| Provision for income taxes from continuing operations | — | — | — | $949k | $2.3m | $8k | ($16.5m) | ($593k) | $2.4m | $3.5m | |
| NET INCOME FROM CONTINUING OPERATIONS | ($325.9m) | ($166.2m) | $40.4m | $109.6m | |||||||
| NET LOSS FROM DISCONTINUED OPERATIONS | ($389.7m) | ($51.9m) | ($4.7m) | ($6.5m) | |||||||
| Net loss from discontinued operations attributable to noncontrolling interest | — | — | — | — | — | — | ($263.4m) | ($33.1m) | ($2.7m) | ($3.6m) | |
| NET INCOME FROM CONTINUING OPERATIONS ATTRIBUTABLE TO CONTROLLING INTEREST | ($64.4m) | ($61.3m) | $17.5m | $48.2m | |||||||
| NET LOSS FROM DISCONTINUED OPERATIONS ATTRIBUTABLE TO CONTROLLING INTEREST | ($126.3m) | ($18.8m) | ($2.0m) | ($3.0m) | |||||||
| Preferred Stock dividends | — | — | — | — | — | — | — | — | $0 | $196k | |
| NET INCOME FROM CONTINUING OPERATIONS ATTRIBUTABLE TO HOLDERS OF CLASS A COMMON STOCK | $17.5m | $48.0m | |||||||||
| Professional Fees | $1.2m | $997k | $827k | $142k | $375k | $397k | — | — | — | — | |
| Labor and Employee Benefits | — | — | — | — | $3.2m | $5.5m | — | — | — | — | |
| Net operating loss | ($2.1m) | ($924k) | ($1.4m) | ($478k) | ($912k) | ($702k) | — | — | — | — | |
| PPP Loan Forgiveness | — | — | — | — | $0 | $661k | — | — | — | — | |
| Goodwill Impairment | $663k | $0 | — | — | $0 | ($7.4m) | — | — | — | — | |
| Management fees - related party | $213k | $200k | $203k | — | — | — | — | — | — | — | |
| Investment management fees | $921k | $1.3m | — | — | — | — | — | — | — | — | |
| NET INCOME | $76.6m | $497.9m | ($715.5m) | ($218.2m) | $35.7m | $103.0m | |||||
| NET INCOME ATTRIBUTABLE TO CONTROLLING INTEREST | ($2.1m) | ($976k) | ($1.5m) | $54.4m | $518.4m | ($7.4m) | ($190.7m) | ($80.1m) | $15.5m | $45.2m | |
| Net income from continuing operations attributable to noncontrolling interest | — | — | — | — | — | — | ($261.4m) | ($105.0m) | $22.9m | $61.4m | |
| Basic earnings per share from continuing operations (in USD per share) | — | — | — | — | — | — | ($1.03) | ($0.75) | $1.78 | $5.04 | |
| Basic earnings per share (in USD per share) | — | — | — | — | ($0.01) | ($0.09) | ($3.06) | ($0.98) | $1.57 | $4.72 | |
| Diluted earnings per share from continuing operations (in USD per share) | — | — | — | — | — | — | ($1.58) | ($0.75) | $1.36 | $3.94 | |
| Diluted earnings per share (in USD per share) | — | — | — | — | — | — | ($3.12) | ($0.98) | $1.18 | $3.74 | |
| LOSS PER SHARE - Basic and Diluted | ($0.07) | ($0.03) | ($0.04) | ($0.02) | ($0.01) | — | — | — | — | — | |
| Basic weighted average shares outstanding (in shares) | — | — | — | — | — | — | 62.3m | 82.0m | 9.9m | 9.5m | |
| Diluted weighted average shares outstanding (in shares) | — | — | — | — | — | — | 188.2m | 82.0m | 23.4m | 26.9m | |
| OTHER INCOME (EXPENSE) | |||||||||||
| Interest expense | ($8k) | ($52k) | ($107k) | ($138.7m) | ($123.0m) | ($9k) | ($151.7m) | ($118.7m) | ($1.6b) | ($1.7b) | |
| Non-funding interest income (expense), net | — | — | — | — | — | — | — | — | $16.7m | ($57.6m) | |
| NET OTHER INCOME (EXPENSE) | ($33.6m) | $70.2m | $236.7m | ||||||||
| Salaries, benefits, and related expenses | $1.7m | $2.0m | $3.3m | $529.2m | $868.3m | — | $663.3m | $178.3m | $138.4m | $145.8m | |
| Loan production and portfolio related expenses | — | — | — | — | — | — | $52.1m | $26.5m | $36.2m | $54.3m | |
| Loan servicing expenses | — | — | — | — | — | — | $33.1m | $30.7m | $31.3m | $31.2m | |
| Marketing and advertising expenses | — | — | — | — | — | — | $13.0m | $31.9m | $39.4m | $48.6m | |
| General and administrative expenses | $409k | $748k | $748k | $256.2m | $395.9m | $1.1m | $456.9m | $82.2m | $59.5m | $51.1m | |
| Cost of services | — | — | — | — | $73k | $107k | — | — | — | — | |
| Depreciation Expense | $154k | $100k | $113k | $189k | $167k | $111k | — | — | — | — | |
| Marketing Expense | $402k | $375k | $267k | $132k | $125k | $78k | — | — | — | — | |
| NET OTHER INCOME/EXPENSE | ($52k) | ($107k) | ($146k) | $120k | ($6.7m) | ||||||
| TOTAL EXPENSES | $4.9m | $4.5m | $5.3m | $818.3m | $1.3b | $7.4m | $1.1b | $392.0m | $343.7m | $369.5m |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.