Company: FOACW
Filing Date: 2025-03-14
Form Type: 10-K
Source: 0001828937-25-000009
Chunk: 26

Company: Finance of America Companies Inc.
Filing Date: 2025-03-14
Form: 10-K
Item: Item 7
Chunk 26
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For the year ended December 31, 2023Reconciliation of net income (loss) from continuing operations to adjusted net income (loss) and adjusted EBITDANet income (loss) from continuing operations$40,418 $(166,249)Add back: (Provision) benefit for income taxes(2,398)593 Net income (loss) from continuing operations before income taxes42,816 (166,842)Adjustments for:Changes in fair value(1)(75,018)(23,869)Amortization or impairment of intangibles and impairment of other assets38,080 44,704 Equity-based compensation9,024 18,573 Certain non-recurring costs4,366 14,214 Adjusted net income (loss) before income taxes19,268 (113,220)Benefit (provision) for income taxes(5,181)29,785 Adjusted net income (loss)14,087 (83,435)Provision (benefit) for income taxes5,181 (29,785)Depreciation1,758 5,063 Interest expense on non-funding debt38,669 30,947 Adjusted EBITDA$59,695 $(77,210)GAAP PER SHARE MEASURESNet income (loss) from continuing operations attributable to controlling interest$17,496 $(61,287)Basic weighted average shares outstanding9,850,903 8,197,753 Basic earnings (loss) per share from continuing operations$1.78 $(7.48)If-converted method net income (loss) from continuing operations$31,756 $(61,287)Diluted weighted average shares outstanding23,406,233 8,197,753 Diluted earnings (loss) per share from continuing operations$1.36 $(7.48)NON-GAAP PER SHARE MEASURESAdjusted net income (loss)$14,087 $(83,435)Weighted average shares outstanding23,406,233 21,905,125 Adjusted earnings (loss) per share$0.60 $(3.81)

(1) Changes in fair value - The adjustment for changes in fair value includes changes in fair value of loans and securities held for investment and related obligations due to market inputs or model assumptions, deferred purchase price obligations, contingent earnout, warrant liability, minority investments, and the exchange of our senior notes