Revenue: As of FY2025, the actual value is USD 497.43 M.EPS: As of FY2025, the actual value is USD 3.74.EBIT: As of FY2025, the actual value is USD -132.86 M.<h3>Consolidated Results</h3><ul><li>#### Total RevenuesTotal revenues for Finance of America Companies Inc. increased to $497,432 thousand in 2025 from $394,364 thousand in 2024.</li><li>#### Total ExpensesTotal expenses rose to $369,531 thousand in 2025 from $343,726 thousand in 2024.</li><li>#### Net Income from Continuing Operations Before Income TaxesNet income from continuing operations before income taxes increased to $113,097 thousand in 2025 from $42,816 thousand in 2024, primarily driven by a $91.0 million increase in fair value changes and a $46.2 million increase in net origination gains.</li><li>#### Operating Cash FlowCash flows from operating activities were - $429,746 thousand in 2025, a slight decrease from - $423,815 thousand in 2024.</li><li>#### Investing Cash FlowCash flows from investing activities significantly increased to $854,887 thousand in 2025 from $340,912 thousand in 2024.</li><li>#### Financing Cash FlowCash flows from financing activities were - $402,454 thousand in 2025, a decrease from $160,097 thousand in 2024.</li></ul><h3>Retirement Solutions Segment</h3><ul><li>#### Total RevenuesTotal revenues for the Retirement Solutions segment were $252,982 thousand in 2025, up 22.6% from $206,314 thousand in 2024.</li><li>#### Net Origination GainsNet origination gains increased by 25.7% to $226,068 thousand in 2025 from $179,837 thousand in 2024, reflecting higher reverse mortgage loan origination volumes.</li><li>#### Fee IncomeFee income was $26,914 thousand in 2025, compared to $26,477 thousand in 2024.</li><li>#### Total ExpensesTotal expenses for the segment increased by 6.1% to $206,771 thousand in 2025 from $194,944 thousand in 2024, mainly due to increased marketing and advertising expenses and salaries.</li><li>#### Net Income Before Income TaxesNet income before income taxes for the segment substantially increased to $46,211 thousand in 2025 from $10,905 thousand in 2024.</li><li>#### Loan Origination VolumeReverse mortgage loan origination volume (initial borrowing amounts) was $2,384,559 thousand in 2025, up from $1,917,298 thousand in 2024. Total loan origination volume, including tails, reached $3,328,299 thousand in 2025, compared to $2,939,677 thousand in 2024.</li><li>#### Weighted Average Margin on Loan ProductionThe weighted average margin on reverse mortgage loan production increased to 9.48% in 2025 from 9.38% in 2024.</li></ul><h3>Portfolio Management Segment</h3><ul><li>#### Total RevenuesTotal revenues for the Portfolio Management segment increased to $302,504 thousand in 2025 from $171,847 thousand in 2024.</li><li>#### Net Portfolio Interest IncomeNet portfolio interest income decreased to $260,760 thousand in 2025 from $267,928 thousand in 2024, primarily due to a higher cost of funds.</li><li>#### Net Fair Value Changes on Loans and Related ObligationsThis metric showed significant improvement, moving from - $99,642 thousand in 2024 to $38,672 thousand in 2025, mainly due to higher net fair value gains.</li><li>#### Total ExpensesTotal expenses for this segment increased by 19.1% to $104,150 thousand in 2025 from $87,449 thousand in 2024, driven by higher loan portfolio related expenses.</li><li>#### Net Income Before Income TaxesNet income before income taxes for the segment more than doubled to $198,354 thousand in 2025 from $84,398 thousand in 2024.</li><li>#### Key Assets and Liabilities (as of December 31, 2025) Cash and cash equivalents were $33,028 thousand, and restricted cash was $234,885 thousand. Loans held for investment, subject to HMBS related obligations, at fair value totaled $19,135,403 thousand, while those subject to nonrecourse debt were $10,026,177 thousand. HMBS related obligations, at fair value, amounted to $18,912,226 thousand, and nonrecourse debt, at fair value, was $9,736,493 thousand. Other financing lines of credit stood at $1,187,699 thousand.</li><li>#### Reverse Mortgage Loans (as of December 31, 2025) Active UPB was $27,833,679 thousand, with an ending UPB of $29,008,074 thousand across 88,493 loans. The weighted average coupon was 6.71%, and the percentage of UPB in foreclosure was 1.9%.</li><li>#### Capital Markets TransactionsThe segment completed 6 securitizations in 2025, issuing $5,369,224 thousand in notes, compared to 8 securitizations and $3,617,495 thousand in notes issued in 2024.</li></ul><h3>Corporate and Other</h3><ul><li>#### Total RevenuesTotal revenues for Corporate and Other were - $57,562 thousand in 2025, a decrease from $16,695 thousand in 2024, primarily due to a gain recognized on senior notes exchange in 2024.</li><li>#### Total ExpensesTotal expenses decreased to $59,102 thousand in 2025 from $61,825 thousand in 2024.</li><li>#### Net Loss Before Income TaxesThe net loss before income taxes for Corporate and Other increased to - $131,468 thousand in 2025 from - $52,487 thousand in 2024.</li></ul><h3>Outlook / Guidance</h3>Finance of America Companies Inc. anticipates pursuing partnerships to broaden the reach of its non-agency second lien reverse mortgage loan product, expecting to raise origination volumes. The company also expects to sell traditional home equity loans as whole loans to investors on a servicing released basis. The HMBS 2.0 program, if implemented, is expected to enable the company to securitize additional HECM loans.

Finance Of America Cos | 10-K: FY2025 Revenue: USD 497.43 M