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Finance of America Companies Inc.
FOACIK 0001828937NYSEAcceleratedSmaller ReportingMortgage Bankers & Loan CorrespondentsDelawareFY ends Dec 31
Period
FY 2025
Revenue
$497.43M
Net Income
$45.23M
Total Assets
$30.73B
Equity
$395.63M
Shares Out
62.64M
Op. Cash Flow
$-429.75M
Business
Finance of America Companies Inc. is a financial services holding company providing home equity-based financing solutions for senior retirement through its subsidiaries. It originates and acquires reverse mortgage loans (HECM and non-agency) and traditional home equity loans via retail and third-party originator channels. The company operates through two reportable segments: Retirement Solutions (originations) and Portfolio Management (securitization, sales, servicing, and asset management). It distributes products nationwide to homeowners aged 55 and over, with strategic partnerships including Blue Owl Capital and Better Home & Finance.
Summary from 10-K filed 2026-03-13
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2020 2020-12-31 |
|---|---|---|---|---|---|---|
| Interest income | 1,920 | 1,905 | 1,629 | 6 | 43 | |
| Interest expense | −1,659 | −1,637 | −1,361 | — | — | |
| NET PORTFOLIO INTEREST INCOME | 261 | 268 | 268 | −113 | −80 | |
| Net origination gains | 226 | 180 | 122 | — | — | |
| Gains on securitization of home equity conversion mortgage (HECM) tails, net | 45 | 46 | 26 | — | — | |
| Fair value changes from model amortization | −154 | −201 | −228 | — | — | |
| Fair value changes from market inputs or model assumptions | 147 | 56 | 59 | — | — | |
| Net fair value changes on loans and related obligations | 265 | 80 | −22 | — | — | |
| Fee income | 29 | 30 | 43 | 82 | 390 | |
| Non-funding interest income (expense), net | −58 | 17 | — | — | — | |
| NET OTHER INCOME (EXPENSE) | 237 | 126 | −34 | — | — | |
| TOTAL REVENUES | 497 | 394 | 234 | 53 | 1,800 | |
| Salaries, benefits, and related expenses | 146 | 138 | 178 | 207 | 868 | |
| Loan production and portfolio related expenses | 54 | 36 | 26 | 52 | — | |
| Loan servicing expenses | 31 | 31 | 31 | 33 | — | |
| Marketing and advertising expenses | 49 | 39 | 32 | 13 | — | |
| Amortization and depreciation | 39 | 39 | 42 | 42 | — | |
| General and administrative expenses | 51 | 59 | 82 | 71 | 396 | |
| TOTAL EXPENSES | 370 | 344 | 392 | 418 | 1,294 | |
| IMPAIRMENT OF OTHER ASSETS | 0 | −891,000 | — | — | — | |
| OTHER, NET | −15 | −7 | 211,000 | 32 | −6 | |
| NET INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES | 113 | 43 | −167 | −343 | 500 | |
| Provision for income taxes from continuing operations | 4 | 2 | −593,000 | −17 | 2 | |
| NET INCOME FROM CONTINUING OPERATIONS | 110 | 40 | −166 | −326 | — | |
| NET LOSS FROM DISCONTINUED OPERATIONS | −7 | −5 | −52 | −390 | — | |
| NET INCOME | 103 | 36 | −218 | −716 | 498 | |
| Net income from continuing operations attributable to noncontrolling interest | 61 | 23 | −105 | −261 | — | |
| Net loss from discontinued operations attributable to noncontrolling interest | −4 | −3 | −33 | −263 | — | |
| NET INCOME FROM CONTINUING OPERATIONS ATTRIBUTABLE TO CONTROLLING INTEREST | 48 | 17 | −61 | −64 | — | |
| NET LOSS FROM DISCONTINUED OPERATIONS ATTRIBUTABLE TO CONTROLLING INTEREST | −3 | −2 | −19 | −126 | — | |
| NET INCOME ATTRIBUTABLE TO CONTROLLING INTEREST | 45 | 15 | −80 | −191 | 518 | |
| Preferred Stock dividends | 196,000 | 0 | — | — | — | |
| NET INCOME FROM CONTINUING OPERATIONS ATTRIBUTABLE TO HOLDERS OF CLASS A COMMON STOCK | 48 | 17 | — | — | — | |
| Basic weighted average shares outstanding (in shares) | 10 | 10 | 8 | 62 | — | |
| Basic earnings per share from continuing operations (in USD per share) | 5.04 | 1.78 | −7.48 | −1.03 | — | |
| Basic earnings per share (in USD per share) | 4.72 | 1.57 | −9.77 | −3.06 | — | |
| Diluted weighted average shares outstanding (in shares) | 27 | 23 | 8 | 188 | — | |
| Diluted earnings per share from continuing operations (in USD per share) | 3.94 | 1.36 | −7.48 | −1.58 | — | |
| Diluted earnings per share (in USD per share) | 3.74 | 1.18 | −9.77 | −3.12 | — |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 90 | 47 | 46 | 61 | 141 | |
| Restricted cash | 235 | 255 | 178 | 180 | 322 | |
| Loans held for investment, subject to Home Equity Conversion Mortgage-Backed Securities (HMBS) related obligations, at fair value | 19,135 | 18,670 | 17,549 | — | — | |
| Loans held for investment, subject to nonrecourse debt, at fair value | 10,026 | 9,288 | 8,272 | — | — | |
| Loans held for investment, at fair value | 870 | 520 | 575 | — | — | |
| Intangible assets, net | 180 | 216 | 254 | 297 | 603 | |
| Other assets, net (includes $76,146 and $43,861 at fair value) | 197 | 157 | 226 | 371 | 358 | |
| Assets of discontinued operations | 0 | 2 | 7 | 313 | — | |
| TOTAL ASSETS | 30,733 | 29,156 | 27,108 | 20,873 | 21,789 | |
| HMBS related obligations, at fair value | 18,912 | 18,444 | 17,354 | 10,997 | — | |
| Nonrecourse debt, at fair value | 9,736 | 8,954 | 7,904 | 7,343 | 6,111 | |
| Other financing lines of credit | 1,188 | 918 | 928 | 1,328 | 3,347 | |
| Notes payable (includes $53,800 and $0 at fair value, and includes amounts due to related parties of $87,126 and $162,283) | 330 | 375 | 411 | 399 | 353 | |
| Payables and other liabilities (includes $12,547 and $16,684 at fair value) | 131 | 138 | 220 | 174 | 472 | |
| Repurchase Agreement obligation | 41 | 0 | — | — | — | |
| Liabilities of discontinued operations | 0 | 12 | 18 | 227 | — | |
| TOTAL LIABILITIES | 30,338 | 28,841 | 26,835 | 20,468 | 20,706 | |
| Commitments and Contingencies (Note 15) | — | — | — | — | — | |
| Preferred Stock, $0.0001 par value; 600,000,000 shares authorized; 50,000 and 0 shares issued and outstanding | 0 | 0 | — | — | — | |
| Additional paid-in capital | 978 | 954 | 947 | 888 | 832 | |
| Accumulated deficit | −654 | −699 | −714 | −634 | −444 | |
| Accumulated other comprehensive loss | −285,000 | −276,000 | −249,000 | −273,000 | −110,000 | |
| Noncontrolling interest | 72 | 60 | 40 | 151 | 695 | |
| TOTAL EQUITY | 396 | 316 | 272 | 405 | 1,083 | |
| TOTAL LIABILITIES AND EQUITY | 30,733 | 29,156 | 27,108 | 20,873 | 21,789 |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2020 2020-12-31 |
|---|---|---|---|---|---|---|
| Change in fair value of loans and related obligations | −584 | −409 | — | — | — | |
| Amortization and depreciation | 39 | 39 | 48 | 65 | 19 | |
| Amortization of debt discount and issuance costs on notes payable | 19 | 3 | — | — | — | |
| Deferred income taxes | −4 | −2 | — | — | — | |
| Change in fair value of deferred purchase price liabilities | −3 | 8 | — | — | — | |
| Change in fair value of convertible notes | 14 | 0 | — | — | — | |
| Equity-based compensation | 10 | 9 | 25 | 48 | 0 | |
| Originations/purchases of loans held for sale | −75 | −10 | −211 | −14,313 | −29,408 | |
| Proceeds from sale of loans held for sale | 54 | 11 | 531 | 16,174 | 29,628 | |
| Gain on the exchange of senior notes | 0 | −56 | — | — | — | |
| Other assets, net | 6 | 33 | 34 | 421 | 18 | |
| Payables and accrued expenses | −11 | −96 | −32 | −162 | 4 | |
| Other operating activities, net | 3 | 9 | −2 | — | — | |
| Net cash used in operating activities | −430 | −424 | −72 | 1,408 | −686 | |
| Purchases and originations of loans held for investment | −3,322 | −2,871 | −3,054 | −6,165 | −3,637 | |
| Proceeds/payments received on loans held for investment | 3,122 | 2,256 | 1,928 | 2,178 | 1,822 | |
| Purchases and originations of loans held for investment, subject to nonrecourse debt | −25 | −41 | −76 | −117 | −45 | |
| Proceeds/payments on loans held for investment, subject to nonrecourse debt | 1,085 | 988 | 1,350 | 1,847 | 914 | |
| Proceeds on sale of mortgage servicing rights (MSR) | 0 | 6 | 86 | 474 | 0 | |
| Proceeds from sale of businesses | 0 | 3 | 71 | 0 | — | |
| Other investing activities, net | −5 | −298,000 | −5 | −16 | −8 | |
| Net cash provided by investing activities | 855 | 341 | 158 | −1,819 | −875 | |
| Proceeds from issuance of HMBS related obligations | 2,006 | 2,003 | 2,141 | 2,864 | 2,052 | |
| Payments on HMBS related obligations | −2,655 | −2,253 | −1,924 | −2,325 | — | |
| Proceeds from issuance of nonrecourse debt | 4,991 | 3,177 | 1,729 | 3,418 | 3,074 | |
| Payments on nonrecourse debt | −4,943 | −2,772 | −1,598 | −1,879 | −1,638 | |
| Proceeds from other financing lines of credit | 5,440 | 5,833 | 4,592 | 21,474 | 35,230 | |
| Payments on other financing lines of credit | −5,171 | −5,843 | −5,119 | −23,366 | −34,969 | |
| Proceeds from notes payable | 40 | 26 | 12 | 47 | 350 | |
| Payments on notes payable | −117 | 0 | — | −41 | −47 | |
| Repurchase of Class A Common Stock and Class A LLC Units | −40 | 0 | — | — | — | |
| Proceeds from issuance of Preferred Stock, net of issuance costs | 49 | 0 | — | — | — | |
| Dividends paid on Preferred Stock | −196,000 | 0 | — | — | — | |
| Other financing activities, net | −4 | −10 | −3 | −7 | −11 | |
| Net cash provided by (used in) financing activities | −402 | 160 | −139 | 225 | 1,718 | |
| Effect of exchange rate changes on cash and cash equivalents | −9,000 | −27,000 | 24,000 | −163,000 | 34,000 | |
| Net increase in cash and cash equivalents and restricted cash | 23 | 77 | −53 | −186 | 157 | |
| Cash paid for interest | 625 | 433 | 308 | 269 | 169 | |
| Loans transferred to loans held for sale, at fair value, from loans held for investment, subject to nonrecourse debt, at fair value | 134 | 0 | — | — | — | |
| Loans transferred to loans held for sale, at fair value, from loans held for investment, at fair value | 52 | 5 | 5 | 12 | 12 |
Filings
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Frequently asked questions
What is Finance of America Companies Inc.'s CIK number?
Finance of America Companies Inc.'s SEC CIK number is 0001828937 (1828937). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find Finance of America Companies Inc.'s SEC filings?
All of Finance of America Companies Inc.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.
When did Finance of America Companies Inc. last report earnings?
Finance of America Companies Inc. (FOA) most recently filed an earnings 8-K with the SEC on May 5, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001628280-26-030502). This is Finance of America Companies Inc.'s most recent earnings filing of record — not a forecast of its next earnings date.
What is Finance of America Companies Inc.'s most recent earnings 8-K?
Finance of America Companies Inc.'s latest earnings 8-K (Item 2.02) was filed May 5, 2026 under accession 0001628280-26-030502. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
View Finance of America Companies Inc.'s latest earnings 8-K →
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