Finance of America panies (FOA) - 2025 Q2 - Quarterly Results

Executive Summary & Highlights This section provides an overview of the company's strong Q2 2025 performance, highlighting significant growth and strategic initiatives Second Quarter 2025 Highlights Finance of America reported strong Q2 2025 results, achieving its fifth consecutive quarter of growth with significant improvements in profitability and funded volume. Key financial metrics like basic EPS, adjusted EPS, and adjusted net income showed substantial year-over-year growth, reflecting enhanced operational performance and strategic initiatives - Finance of America delivered its fifth consecutive quarter of growth, funding $602 million in loans[3] Key Financial Highlights (Q2 2025) | Metric | Q2 2025 | Change vs Q2 2024 | | :-------------------------------- | :------ | :------------------ | | Basic Earnings Per Share (EPS) | $3.16 | N/A (was -$0.20) | | Adjusted Earnings Per Share (EPS) | $0.55 | N/A (was $0.00) | | Net Income from Continuing Operations | $80 million | N/A (was -$5 million) | | Adjusted Net Income | $14 million | N/A (was $0 million) | | Adjusted EBITDA | $30 million | +200% | | Funded Volume | $602 million | +35% | | Total Equity (as of June 30, 2025) | $473 million | N/A | | Adjusted Net Income (YTD) | $27 million | N/A (was -$7 million loss) | - The company entered into an agreement to repurchase Blackstone's entire equity stake, aiming to reduce interest expense and enhance financial flexibility[1][4] CEO Commentary CEO Graham A. Fleming highlighted the company's consistent execution, rising profitability, and the increasing relevance of home equity solutions for retirement. He noted encouraging signals from new brand campaigns and digital initiatives, expecting continued market leadership and long-term value delivery - CEO Graham A. Fleming emphasized consistent execution, rising profitability, and the growing relevance of home equity solutions for retirement[3] - New brand campaigns and digital initiatives are expanding reach and deepening engagement with the next generation of borrowers[4] - The company anticipates continued market leadership and long-term value delivery as demand builds among a rapidly growing demographic[4] Financial Performance Overview This section presents a comprehensive overview of the company's financial results for Q2 2025 and key balance sheet metrics Second Quarter Financial Summary of Continuing Operations The company demonstrated robust financial growth in Q2 2025, with significant increases in funded volume, total revenues, and net income from continuing operations compared to both the previous quarter and the prior year. Adjusted net income and EBITDA also saw substantial improvements, reflecting strong operational leverage Second Quarter Financial Summary of Continuing Operations (in millions) | Metric | Q2'25 | Q1'25 | Variance Q2'25 vs Q1'25 (%) | Q2'24 | Variance Q2'25 vs Q2'24 (%) | YTD 2025 | YTD 2024 | Variance YTD 2025 vs YTD 2024 (%) | | :---------------------------------- | :---- | :---- | :-------------------------- | :---- | :-------------------------- | :------- | :------- | :-------------------------------- | | Funded volume | $602 | $561 | 7 % | $447 | 35 % | $1,163 | $871 | 34 % | | Total revenues | 177 | 166 | 7 % | 79 | 124 % | 343 | 154 | 123 % | | Total expenses and other, net | 95 | 84 | 13 % | 83 | 14 % | 179 | 173 | 3 % | | Pre-tax income (loss) from continuing operations | 82 | 82 | — % | (4) | 2,150 % | 164 | (20) | 920 % | | Net income (loss) from continuing operations | 80 | 80 | — % | (5) | 1,700 % | 160 | (21) | 862 % | | Adjusted net income (loss) | 14 | 13 | 8 % | — | N/A | 27 | (7) | 486 % | | Adjusted EBITDA | 30 | 29 | 3 % | 10 | 200 % | 59 | 10 | 490 % | | Basic earnings (loss) per share | $3.16 | $3.17 | — % | $(0.20) | 1,680 % | $6.33 | $(0.78) | 912 % | | Diluted earnings (loss) per share | $2.13 | $2.56 | (17)% | $(0.29) | 834 % | $4.69 | $(0.88) | 633 % | | Adjusted earnings (loss) per share | $0.55 | $0.52 | 6 % | — | N/A | $1.07 | $(0.29) | 469 % | Balance Sheet Highlights The balance sheet as of June 30, 2025, shows a healthy increase in total equity and tangible equity, driven by improved operational performance and positive fair value adjustments. Total assets also grew modestly quarter-over-quarter Balance Sheet Highlights (in millions) | Metric | June 30, 2025 | March 31, 2025 | Variance Q2'25 vs Q1'25 (%) | | :------------------------------------------ | :------------ | :------------- | :-------------------------- | | Cash and cash equivalents | $46 | $52 | (12)% | | Securitized loans held for investment | 28,747 | 28,439 | 1 % | | Total assets | 30,147 | 29,689 | 2 % | | Total liabilities | 29,674 | 29,294 | 1 % | | Total equity | 473 | 395 | 20 % | - Total equity increased by 20% to $473 million as of June 30, 2025, from $395 million as of March 31, 2025[4][8] - Tangible equity significantly improved by 47% to $275 million as of June 30, 2025, from $187 million as of March 31, 2025[8] Segment Results This section provides a detailed analysis of the financial performance for the Retirement Solutions and Portfolio Management segments Retirement Solutions The Retirement Solutions segment, primarily generating revenue from reverse mortgage loan originations, experienced substantial growth in Q2 2025. Increased volumes and improved margins led to significant year-over-year and quarter-over-quarter increases in pre-tax income and adjusted net income Retirement Solutions Segment Performance (in millions) | Metric | Q2'25 | Q1'25 | Variance Q2'25 vs Q1'25 (%) | Q2'24 | Variance Q2'25 vs Q2'24 (%) | YTD 2025 | YTD 2024 | Variance YTD 2025 vs YTD 2024 (%) | | :-------------------- | :---- | :---- | :-------------------------- | :---- | :-------------------------- | :------- | :------- | :-------------------------------- | | Funded volume | $602 | $561 | 7 % | $447 | 35 % | $1,163 | $871 | 34 % | | Total revenue | 62 | 52 | 19 % | 47 | 32 % | 114 | 93 | 23 % | | Pre-tax income (loss) | 10 | 3 | 233 % | (2) | 600 % | 14 | (6) | 333 % | | Adjusted net income | 15 | 9 | 67 % | 7 | 114 % | 24 | 11 | 118 % | - The segment recognized pre-tax income of $10 million and adjusted net income of $15 million in Q2 2025, driven by increased volumes and improved margins[10] - Year-to-date pre-tax income improved by 333% to $14 million, compared to a $6 million loss in the first half of 2024, primarily due to a 34% increase in funded volumes[13] Portfolio Management The Portfolio Management segment, which generates revenue from net interest income and fair value changes on portfolio assets, saw significant revenue and pre-tax income growth in Q2 2025. This was primarily due to positive fair value adjustments on retained interests in securitizations and increased accreted yield Portfolio Management Segment Performance (in millions) | Metric | Q2'25 | Q1'25 | Variance Q2'25 vs Q1'25 (%) | Q2'24 | Variance Q2'25 vs Q2'24 (%) | YTD 2025 | YTD 2024 | Variance YTD 2025 vs YTD 2024 (%) | | :---------------------------------- | :---- | :---- | :-------------------------- | :---- | :-------------------------- | :------- | :------- | :-------------------------------- | | Assets under management | $29,907 | $29,418 | 2 % | $27,655 | 8 % | $29,907 | $27,655 | 8 % | | Assets excluding HMBS and nonrecourse obligations | 1,838 | 1,664 | 10 % | 1,624 | 13 % | 1,838 | 1,624 | 13 % | | Total revenue | 130 | 129 | 1 % | 41 | 217 % | 259 | 79 | 228 % | | Pre-tax income | 108 | 105 | 3 % | 22 | 391 % | 213 | 36 | 492 % | | Adjusted net income | 16 | 20 | (20)% | 12 | 33 % | 37 | 17 | 118 % | - The segment's pre-tax income reached $108 million in Q2 2025, an improvement over both the prior quarter and Q2 2024, driven by positive fair value adjustments and increased accreted yield[14] - Year-to-date adjusted net income for the segment increased by 118% to $37 million, up from $17 million in the same period of 2024[14] Consolidated Financial Statements This section presents the complete condensed consolidated statements of financial condition and operations for the reported periods Condensed Consolidated Statements of Financial Condition (Balance Sheet) The condensed consolidated statements of financial condition provide a detailed breakdown of the company's assets, liabilities, and equity as of June 30, 2025, and March 31, 2025, showing overall growth in total assets and a significant increase in total equity Condensed Consolidated Statements of Financial Condition (in thousands) | ASSETS | June 30, 2025 | March 31, 2025 | | :---------------------------------------------------------------- | :------------ | :------------- | | Cash and cash equivalents | $46,476 | $52,016 | | Restricted cash | 190,176 | 199,836 | | Loans held for investment, subject to HMBS related obligations, at fair value | 18,858,220 | 18,809,023 | | Loans held for investment, subject to nonrecourse debt, at fair value | 9,888,492 | 9,630,150 | | Loans held for investment, at fair value | 634,935 | 634,104 | | Intangible assets, net | 198,209 | 207,506 | | Other assets, net | 329,677 | 154,285 | | Assets of discontinued operations | 1,264 | 1,936 | | TOTAL ASSETS | $30,147,449 | $29,688,856 | | LIABILITIES AND EQUITY | | | | HMBS related obligations, at fair value | $18,643,094 | $18,590,357 | | Nonrecourse debt, at fair value | 9,426,194 | 9,163,399 | | Other financing lines of credit | 1,076,434 | 1,008,894 | | Notes payable, net | 383,941 | 379,159 | | Payables and other liabilities | 139,350 | 140,709 | | Liabilities of discontinued operations | 5,011 | 11,452 | | TOTAL LIABILITIES | 29,674,024 | 29,293,970 | | EQUITY | | | | Class A Common Stock | 1 | 1 | | Class B Common Stock | — | — | | Additional paid-in capital | 959,306 | 961,044 | | Accumulated deficit | (633,763) | (668,686) | | Accumulated other comprehensive loss | (283) | (285) | | Noncontrolling interest | 148,164 | 102,812 | | TOTAL EQUITY | 473,425 | 394,886 | | TOTAL LIABILITIES AND EQUITY | $30,147,449 | $29,688,856 | Condensed Consolidated Statements of Operations (Income Statement) The condensed consolidated statements of operations detail the company's revenues, expenses, and net income (loss) for Q2 2025, Q1 2025, Q2 2024, and year-to-date periods. The statements highlight significant improvements in net income from continuing operations and earnings per share compared to the prior year Condensed Consolidated Statements of Operations (in thousands, except share data) | Metric | Q2'25 | Q1'25 | Q2'24 | YTD 2025 | YTD 2024 | | :------------------------------------------------ | :------ | :------ | :------ | :------- | :------- | | NET PORTFOLIO INTEREST INCOME | $59,464 | $70,435 | $65,473 | $129,899 | $135,648 | | NET OTHER INCOME (EXPENSE) | 117,912 | 95,260 | 13,566 | 213,172 | 18,073 | | TOTAL REVENUES | 177,376 | 165,695 | 79,039 | 343,071 | 153,721 | | TOTAL EXPENSES | 89,060 | 86,369 | 85,047 | 175,429 | 176,362 | | NET INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES | 81,955 | 81,693 | (3,768) | 163,648 | (19,548) | | Provision for income taxes from continuing operations | 2,132 | 1,943 | 1,153 | 4,075 | 1,153 | | NET INCOME (LOSS) FROM CONTINUING OPERATIONS | 79,823 | 79,750 | (4,921) | 159,573 | (20,701) | | NET LOSS FROM DISCONTINUED OPERATIONS | — | (4,750) | (203) | (4,750) | (4,727) | | NET INCOME (LOSS) | 79,823 | 75,000 | (5,124) | 154,823 | (25,428) | | Noncontrolling interest | 44,900 | 44,791 | (3,035) | 89,691 | (15,801) | | NET INCOME (LOSS) ATTRIBUTABLE TO CONTROLLING INTEREST | $34,923 | $30,209 | $(2,089) | $65,132 | $(9,627) | | EARNINGS (LOSS) PER SHARE | | | | | | | Basic earnings (loss) per share from continuing operations | $3.16 | $3.17 | $(0.20) | $6.33 | $(0.78) | | Basic earnings (loss) per share | $3.16 | $2.97 | $(0.21) | $6.14 | $(0.99) | | Diluted earnings (loss) per share from continuing operations | $2.13 | $2.56 | $(0.29) | $4.69 | $(0.88) | | Diluted earnings (loss) per share | $2.13 | $2.43 | $(0.30) | $4.56 | $(1.06) | Non-GAAP Financial Measures & Reconciliations This section details the company's non-GAAP financial measures, including their definitions and reconciliations to comparable GAAP metrics - Management uses non-GAAP measures like adjusted net income (loss), adjusted EBITDA, adjusted EPS, and tangible equity to evaluate performance and enhance investors' understanding of financial performance, though they are not substitutes for GAAP measures[38][39][40] Reconciliation to GAAP The company provides reconciliations of non-GAAP financial measures such as adjusted net income (loss), adjusted EBITDA, adjusted earnings (loss) per share, and tangible equity to their most directly comparable GAAP measures. These adjustments aim to offer a clearer view of core operational performance by excluding certain non-recurring or non-cash items Reconciliation of Net Income (Loss) from Continuing Operations to Adjusted Net Income (Loss) and Adjusted EBITDA (in millions) | Metric | Q2'25 | Q1'25 | Q2'24 | YTD 2025 | YTD 2024 | | :---------------------------------------------------------------- | :---- | :---- | :---- | :------- | :------- | | Net income (loss) from continuing operations | $80 | $80 | $(5) | $160 | $(21) | | Add back: Provision for income taxes | (2) | (2) | (1) | (4) | (1) | | Net income (loss) from continuing operations before taxes | 82 | 82 | (4) | 164 | (20) | | Adjustments for: | | | | | | | Changes in fair value | (76) | (76) | (8) | (151) | (18) | | Amortization or impairment of intangibles and impairment of other assets | 9 | 9 | 9 | 19 | 20 | | Equity-based compensation | 3 | 2 | 1 | 5 | 6 | | Certain non-recurring costs | 1 | — | 2 | 1 | 3 | | Adjusted net income (loss) before taxes | 19 | 18 | — | 37 | (9) | | Benefit (provision) for income taxes | (5) | (5) | — | (10) | 2 | | Adjusted net income (loss) | 14 | 13 | — | 27 | (7) | | Provision (benefit) for income taxes | 5 | 5 | — | 10 | (2) | | Depreciation | — | — | — | 1 | 1 | | Interest expense on non-funding debt | 11 | 11 | 10 | 22 | 18 | | Adjusted EBITDA | $30 | $29 | $10 | $59 | $10 | GAAP and Non-GAAP Per Share Measures (in millions except shares and $ per share) | Metric | Q2'25 | Q1'25 | Q2'24 | YTD 2025 | YTD 2024 | | :---------------------------------------------------------------- | :---- | :---- | :---- | :------- | :------- | | GAAP PER SHARE MEASURES | | | | | | | Net income (loss) from continuing operations attributable to controlling interest | $35 | $32 | $(2) | $67 | $(8) | | Weighted average outstanding share count | 11,041,337 | 10,177,266 | 9,898,182 | 10,611,689 | 9,773,370 | | Basic earnings (loss) per share from continuing operations | $3.16 | $3.17 | $(0.20) | $6.33 | $(0.78) | | If-converted method net income (loss) from continuing operations | $64 | $77 | $(7) | $141 | $(20) | | Weighted average diluted share count | 30,137,247 | 30,167,024 | 23,084,189 | 30,152,054 | 23,013,742 | | Diluted earnings (loss) per share from continuing operations | $2.13 | $2.56 | $(0.29) | $4.69 | $(0.88) | | NON-GAAP PER SHARE MEASURES | | | | | | | Adjusted net income (loss) | $14 | $13 | $— | $27 | $(7) | | Exchangeable senior secured notes interest expense | 3 | 3 | — | 5 | — | | Total | $17 | $16 | $— | $32 | $(7) | | Weighted average share count | 30,137,247 | 30,167,024 | 23,084,189 | 30,152,054 | 23,013,742 | | Adjusted earnings (loss) per share | $0.55 | $0.52 | $— | $1.07 | $(0.29) | Tangible Equity Calculation (in millions) | Metric | June 30, 2025 | March 31, 2025 | | :---------------------- | :------------ | :------------- | | Total equity | $473 | $395 | | Less: Intangible assets, net | 198 | 208 | | Tangible equity | $275 | $187 | Adjusted Net Income by Segment (Continuing Operations) The adjusted net income by segment provides a granular view of profitability for Retirement Solutions, Portfolio Management, and Corporate & Other, after applying non-GAAP adjustments. This breakdown reveals the individual contributions and performance trends of each business unit over various periods Three Months Ended June 30, 2025 This section presents the adjusted net income by segment for the second quarter of 2025 Adjusted Net Income by Segment (Q2 2025, in millions) | Metric | Retirement Solutions | Portfolio Management | Corporate & Other | FOA | | :---------------------------------------------------------------- | :------------------- | :------------------- | :---------------- | :-- | | Pre-tax income (loss) | $10 | $108 | $(37) | $82 | | Adjustments for: | | | | | | Changes in fair value | — | (86) | 11 | (76) | | Amortization or impairment of intangibles and impairment of other assets | 9 | — | — | 9 | | Equity-based compensation | — | — | 2 | 3 | | Certain non-recurring costs | — | — | 1 | 1 | | Adjusted net income (loss) before taxes | $20 | $22 | $(23) | $19 | | Provision (benefit) for income taxes | 5 | 6 | (6) | 5 | | Adjusted net income (loss) | $15 | $16 | $(17) | $14 | | Exchangeable senior secured notes interest expense | — | — | 3 | 3 | | Total | $15 | $16 | $(14) | $17 | | Weighted average share count | 30,137,247 | 30,137,247 | 30,137,247 | 30,137,247 | | Adjusted earnings (loss) per share | $0.49 | $0.54 | $(0.47) | $0.55 | Three Months Ended March 31, 2025 This section presents the adjusted net income by segment for the first quarter of 2025 Adjusted Net Income by Segment (Q1 2025, in millions) | Metric | Retirement Solutions | Portfolio Management | Corporate & Other | FOA | | :---------------------------------------------------------------- | :------------------- | :------------------- | :---------------- | :-- | | Pre-tax income (loss) | $3 | $105 | $(27) | $82 | | Adjustments for: | | | | | | Changes in fair value | — | (78) | 2 | (76) | | Amortization or impairment of intangibles and impairment of other assets | 9 | — | — | 9 | | Equity-based compensation | — | — | 2 | 2 | | Adjusted net income (loss) before taxes | $13 | $28 | $(23) | $18 | | Provision (benefit) for income taxes | 4 | 7 | (6) | 5 | | Adjusted net income (loss) | $9 | $20 | $(17) | $13 | | Exchangeable senior secured notes interest expense | — | — | 3 | 3 | | Total | $9 | $20 | $(14) | $16 | | Weighted average share count | 30,167,024 | 30,167,024 | 30,167,024 | 30,167,024 | | Adjusted earnings (loss) per share | $0.31 | $0.68 | $(0.47) | $0.52 | Three Months Ended June 30, 2024 This section presents the adjusted net income by segment for the second quarter of 2024 Adjusted Net Income by Segment (Q2 2024, in millions) | Metric | Retirement Solutions | Portfolio Management | Corporate & Other | FOA | | :---------------------------------------------------------------- | :------------------- | :------------------- | :---------------- | :-- | | Pre-tax income (loss) | $(2) | $22 | $(24) | $(4) | | Adjustments for: | | | | | | Changes in fair value | — | (6) | (2) | (8) | | Amortization or impairment of intangibles and impairment of other assets | 9 | — | — | 9 | | Equity-based compensation | — | — | 1 | 1 | | Certain non-recurring costs | 1 | — | 1 | 2 | | Adjusted net income (loss) before taxes | $9 | $16 | $(24) | $— | | Provision (benefit) for income taxes | 2 | 4 | (6) | — | | Adjusted net income (loss) | $7 | $12 | $(18) | $— | | Weighted average share count | 23,084,189 | 23,084,189 | 23,084,189 | 23,084,189 | | Adjusted earnings (loss) per share | $0.27 | $0.52 | $(0.77) | $— | Six Months Ended June 30, 2025 This section presents the adjusted net income by segment for the first half of 2025 Adjusted Net Income by Segment (YTD 2025, in millions) | Metric | Retirement Solutions | Portfolio Management | Corporate & Other | FOA | | :---------------------------------------------------------------- | :------------------- | :------------------- | :---------------- | :-- | | Pre-tax income (loss) | $14 | $213 | $(63) | $164 | | Adjustments for: | | | | | | Changes in fair value | — | (164) | 13 | (151) | | Amortization or impairment of intangibles and impairment of other assets | 19 | — | — | 19 | | Equity-based compensation | — | — | 4 | 5 | | Certain non-recurring costs | — | — | 1 | 1 | | Adjusted net income (loss) before taxes | $33 | $50 | $(46) | $37 | | Provision (benefit) for income taxes | 9 | 13 | (12) | 10 | | Adjusted net income (loss) | $24 | $37 | $(34) | $27 | | Exchangeable senior secured notes interest expense | — | — | 5 | 5 | | Total | $24 | $37 | $(29) | $32 | | Weighted average share count | 30,152,054 | 30,152,054 | 30,152,054 | 30,152,054 | | Adjusted earnings (loss) per share | $0.80 | $1.21 | $(0.95) | $1.07 | Six Months Ended June 30, 2024 This section presents the adjusted net income by segment for the first half of 2024 Adjusted Net Income by Segment (YTD 2024, in millions) | Metric | Retirement Solutions | Portfolio Management | Corporate & Other | FOA | | :---------------------------------------------------------------- | :------------------- | :------------------- | :---------------- | :---- | | Pre-tax income (loss) | $(6) | $36 | $(50) | $(20) | | Adjustments for: | | | | | | Changes in fair value | — | (14) | (4) | (18) | | Amortization or impairment of intangibles and impairment of other assets | 19 | — | 1 | 20 | | Equity-based compensation | 1 | — | 4 | 6 | | Certain non-recurring costs | 1 | — | 2 | 3 | | Adjusted net income (loss) before taxes | $15 | $23 | $(47) | $(9) | | Provision (benefit) for income taxes | 4 | 6 | (12) | (2) | | Adjusted net income (loss) | $11 | $17 | $(35) | $(7) | | Weighted average share count | 23,013,742 | 23,013,742 | 23,013,742 | 23,013,742 | | Adjusted earnings (loss) per share | $0.48 | $0.74 | $(1.52) | $(0.29) | Non-GAAP Measures Definitions This section defines the non-GAAP financial measures used by Finance of America, including adjusted net income (loss), adjusted EBITDA, adjusted earnings (loss) per share, and tangible equity. It also explains the rationale for their use, their limitations, and recent changes in their calculation methodology Change in Non-GAAP Measures This section outlines the recent revisions to the company's non-GAAP financial measure definitions - Beginning Q3 2024, the company revised its definitions of adjusted net income (loss), adjusted EBITDA, and adjusted EPS to include adjustments for all equity-based compensation, rather than just Replacement RSUs and Earnout Right RSUs[42] - This change aims to provide a more comprehensive view of operating performance and comparability to peers, as equity-based awards are non-cash expenses not directly correlated with operating results[43] Adjusted Net Income (Loss) Definition This section provides the detailed definition and purpose of adjusted net income (loss) - Adjusted net income (loss) is defined as net income (loss) from continuing operations, adjusted for income taxes, changes in fair value, amortization/impairment of intangibles, equity-based compensation, and certain non-recurring costs[44][46] - This metric is used by management to assess underlying key drivers and operational performance by excluding items not representative of core earnings[44][45] Adjusted EBITDA Definition This section provides the detailed definition and purpose of adjusted EBITDA - Adjusted EBITDA is defined as net income (loss) from continuing operations, adjusted for income taxes, changes in fair value, amortization/impairment of intangibles, equity-based compensation, certain non-recurring costs, depreciation, and interest expense on non-funding debt[47][52] - It provides visibility into underlying operating performance by excluding impacts not representative of core earnings[48] Adjusted Earnings (Loss) Per Share Definition This section provides the detailed definition and purpose of adjusted earnings (loss) per share - Adjusted earnings (loss) per share is calculated as adjusted net income (loss) plus interest expense on exchangeable senior secured notes (net of tax effect, if dilutive), divided by weighted average shares outstanding (including Class A Units and if-converted notes)[49] - This metric helps management, analysts, investors, and creditors assess operational performance and comparability to peers[50] Tangible Equity Definition This section provides the detailed definition and purpose of tangible equity - Tangible equity is defined as total equity less intangible assets, net[51] - Management uses this metric to evaluate the company's capital strength exclusive of intangible assets, providing additional insight into the underlying equity position[51][54] Company Information & Disclosures This section provides essential company information, including contact details, webcast information, and forward-looking statements Webcast and Conference Call Finance of America hosted a webcast and conference call on August 5, 2025, to discuss its Q2 2025 results. Replay information was also provided for those unable to attend the live event - A webcast and conference call were held on August 5, 2025, at 5:00 pm Eastern Time to discuss Q2 2025 results[30] - A replay of the call is available on the company's investor relations website and via dial-in until August 12, 2025[31] About Finance of America Finance of America Companies Inc. (NYSE: FOA) is a leading provider of home equity-based financing solutions tailored for modern retirement, headquartered in Plano, Texas. The company also offers capital markets and portfolio management capabilities to optimize loan distribution to investors - Finance of America (NYSE: FOA) is a leading provider of home equity-based financing solutions for a modern retirement[32] - The company also provides capital markets and portfolio management capabilities to optimize the distribution of originated loans to investors[32] - Finance of America is headquartered in Plano, Texas[32] Forward-Looking Statements This section contains forward-looking statements subject to various risks and uncertainties that could cause actual results to differ materially from expectations. Readers are cautioned not to place undue reliance on these statements, which are current only as of the release date, and are directed to SEC filings for a comprehensive list of risk factors - The release includes forward-looking statements regarding future events, business performance, financial results, liquidity, and capital resources[34] - These statements are subject to inherent uncertainties and risks that could cause actual outcomes to differ materially, including factors detailed in the company's SEC filings[34][36] - Readers are cautioned not to place undue reliance on forward-looking statements, which are current only as of the release date, and the company does not undertake to update them[34][36] Contacts Contact information for Finance of America's media and investor relations departments is provided - Media inquiries can be directed to pr@financeofamerica.com[55] - Investor Relations inquiries can be directed to ir@financeofamerica.com[55]