Company: FOACW
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001628280-25-052025
Chunk: 118

Company: Finance of America Companies Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Item 1
Chunk 118
---
30, 2025 compared to $2.1 billion for the 2024 period.

•General and administrative expenses decreased $2.5 million or 23.9% 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 decreased $1.1 million or 8.7% primarily due to a decrease in average headcount and 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. Average headcount was 60 for the nine months ended September 30, 2025 compared to 64 for the 2024 period.

Corporate and Other

Corporate and Other consists of our corporate services groups. These groups support our operating segments, and the cost of services directly supporting the operating segments are allocated to those operating segments on a cost-of-service basis. Enterprise-focused Corporate and Other expenses that are not incurred in direct support of the operating segments are kept unallocated within Corporate and Other.

61

The following table summarizes Corporate and Other results (in thousands):

Three months endedNine months endedSeptember 30,September 30,2025202420252024Non-funding interest expense, net$(14,488)$(9,219)$(44,623)$(26,639)Total revenues(14,488)(9,219)(44,623)(26,639)Total expenses15,676 13,514 44,913 49,362 Impairment of other assets— — — (600)Other, net(4,809)(1,592)(8,803)2,275 NET LOSS BEFORE INCOME TAXES$(34,973)$(24,325)$(98,339)$(74,326)

The following table provides a summary of the components of Corporate and Other total expenses (in thousands):

Three months endedNine months endedSeptember 30,September 30,2025202420252024Salaries and bonuses$15,431 $12,044 $42,405 $39,614 Other salary related expenses1,971 1,566 6,251 7,416 Shared services - payroll allocations(6,868)(5,831)(19,780)(16,250)Total salaries