Finance of America Companies Inc. reported a GAAP net income from continuing operations of $40 million, or $1.78 basic earnings per share, for the full year ended December 31, 2024. The company also achieved an adjusted net income of $14 million, or $0.60 adjusted earnings per share, for the year.
Full year funded volume increased by 9% year-over-year to $1,918 million, with total revenues reaching $338 million, up 44% from the prior year. Adjusted EBITDA for the full year stood at $60 million.
For the fourth quarter of 2024, the company reported a GAAP net loss from continuing operations of $143 million, but an adjusted net income of $5 million. A significant gain on extinguishment of debt of $56.193 million was recognized in Q4 2024, contributing to the company's financial restructuring efforts.
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