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

Company: Finance of America Companies Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Item 2
Chunk 25
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 is not a presentation made in accordance with U.S. GAAP, and our definition and use of this measure may vary from other companies in our industry.

Tangible equity provides visibility to the underlying capital position by excluding the impact of certain items that management does not believe are representative of our core equity base. Tangible equity may also include other adjustments, as applicable, based upon facts and circumstances, consistent with our intent of providing a supplemental means of evaluating our financial strength. 

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Reconciliation to GAAP

The following table provides a reconciliation of net income (loss) from continuing operations to adjusted net income and adjusted EBITDA, as well as adjusted earnings per share and tangible equity (in thousands, except for share data):

Three months endedNine months endedSeptember 30,September 30,2025202420252024Reconciliation of net income (loss) from continuing operations to adjusted net income and adjusted EBITDANet income (loss) from continuing operations$(28,685)$203,748 $130,888 $183,047 Add back: Provision for income taxes(130)(4,425)(4,205)(5,578)Net income (loss) from continuing operations before income taxes(28,555)208,173 135,093 188,625 Adjustments for:Changes in fair value(1)60,162 (198,337)(91,162)(215,887)Amortization or impairment of intangibles and impairment of other assets9,297 9,297 27,891 28,491 Equity-based compensation2,600 1,516 7,404 7,092 Certain non-recurring costs1,095 418 2,019 4,115 Adjusted net income before income taxes44,599 21,067 81,245 12,436 Provision for income taxes(11,859)(5,568)(21,539)(3,571)Adjusted net income32,740 15,499 59,706 8,865 Provision for income taxes11,859 5,568 21,539 3,571 Depreciation346 480 1,064 1,317 Interest expense on non-funding debt10,067 10,008 32,007 28,087 Adjusted EBITDA$55,012 $31,555 $114,316 $41,840 GAAP PER SHARE