Company: FOACW
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001628280-25-052025
Chunk: 21

Company: Finance of America Companies Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Item 2
Chunk 21
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2025 versus the three months ended September 30, 2024

Total revenues worsened by $5.3 million as a result of the following:

•Non-funding interest expense, net, increased $5.3 million during the three months ended September 30, 2025 compared to the 2024 period primarily due to the discount amortization expense related to the exchange of our senior notes that occurred on October 31, 2024, which was partially offset by decreased cost of funds on our working capital promissory notes. 

Total expenses increased $2.2 million or 16.0% as a result of the following:

•Salaries, benefits, and related expenses, net of shared services allocations, increased $2.8 million or 35.4% for the three months ended September 30, 2025 when compared to the 2024 period primarily due to increases in incentive compensation.

•General and administrative expenses, net of shared services allocations, decreased $0.6 million or 10.4% primarily due to continued cost-cutting initiatives that align expenses with our unified modern retirement solutions platform during the three months ended September 30, 2025 when compared to the 2024 period.

Other, net, changed $3.2 million primarily due to valuation changes in the convertible notes and deferred purchase price liabilities. 

62

For the nine months ended September 30, 2025 versus the nine months ended September 30, 2024

Total revenues worsened by $18.0 million as a result of the following:

•Non-funding interest expense, net, increased $18.0 million during the nine months ended September 30, 2025 compared to the 2024 period primarily due to the discount amortization expense related to the exchange of our senior notes that occurred on October 31, 2024, which was partially offset by decreased cost of funds on our working capital promissory notes.

Total expenses decreased $4.4 million or 9.0% as a result of the following:

•General and administrative expenses, net of shared services allocations, decreased $2.6 million or 14.9% primarily due to continued cost-cutting initiatives that align expenses with our unified modern retirement solutions platform during the nine months ended September 30, 2025 when compared to the 2024 period.

•Salaries, benefits, and related expenses, net of shared services allocations, decreased $1.9 million or 6.2