Company: FOACW
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001828937-25-000061
Chunk: 24

Company: Finance of America Companies Inc.
Filing Date: 2025-08-11
Form: 10-Q
Item: Item 2
Chunk 24
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 the underlying key drivers and operational performance of the continuing operations of the business. In addition, analysts, investors, and creditors may use this measure when analyzing our operating performance and comparability to peers. Adjusted earnings (loss) per share is 

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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

We define tangible equity as total equity less intangible assets, net. Management uses this metric to evaluate the Company’s capital strength exclusive of intangible assets. We believe this measure is useful to analysts, investors, and creditors as it provides additional insight into the underlying equity position of the business. Tangible equity 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 (loss) and adjusted EBITDA, as well as adjusted earnings (loss) per share and tangible equity (in thousands, except for share data):

For the three months ended June 30, 2025For the three months ended June 30, 2024For the six months ended June 30, 2025For the six months ended June 30, 2024Reconciliation of net income (loss) from continuing operations to adjusted net income (loss) and adjusted EBITDANet income (loss) from continuing operations$79,823 $(4,921)$159,573 $(20,701)Add back: Provision for income taxes(2,132)(1,153)(4,075)(1,153)Net income (loss) from continuing operations before income taxes81,955 (3,768)163,648 (19,548)Adjustments for:Changes in fair value(1)(75,514)(8,633)(151,324)(17,550)Amortization or impairment of intangibles and impairment of other assets9,297 9,296 18,594 19,194 Equity-based compensation