Company: BLNE
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024044
Chunk: 55

Company: Beeline Holdings, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 55
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 142 
  
    Interest expense 
     (64) 
     (129)
  
    Data and tech services 
     6  
     10 
  
    Total net revenues 
     1,717  
     3,067 
  
    Salaries and benefits 
     1,348  
     2,515 
  
    Marketing and advertising 
     778  
     1,305 
  
    Professional fees 
     70  
     105 
  
    General and administrative expenses 
     (66) 
     429 
  
    Depreciation and amortization 
     812  
     1,607 
  
    Other operating expenses 
     332  
     975 
  
    Total operating expenses 
     3,274  
     6,936 
  
    Loss from operations 
     (1,557) 
     (3,869)
  
    Interest expense 
     (10) 
     (20)
  
    Other expense 
     (1) 
     (4)
  
    Net loss 
    $(1,568) 
    $(3,893)

For
the three and six months ended June 30, 2025, Beeline Financial originated $15.1 million and $54.9 million in residential mortgage loans
and reported net revenues of $1.7 million and $3.1 million and a net loss of $1.6 million and $3.9 million, respectively.

Gain
on sale of loans, net. Gain on sale of loans, net consists of all components related to the origination and sale of mortgage
loans, including (1) net gain on sale of loans, which represents the premium we receive in excess of the loan principal amount and certain
fees charged by investors upon sale of loans into the secondary market, (2) loan origination fees, credits, points and certain costs,
(3) provision for or benefit from investor reserves, and (4) the change in fair value of interest rate lock commitment (“IRLCs”
or “rate lock”) and mortgage loans held for sale.

When
the mortgage loan is sold into the secondary market (i.e. funded), any difference between the proceeds received and the current fair
value of the loan is recognized in current period earnings in gain on sale of loans. Gain on sale of loans, net was $1.0 million and
$1.