Finance Of America Companies (FOA) investor relations material

Executive summary

• Achieved GAAP net income of $35 million ($1.93/share) and adjusted net income of $26 million ($1.10/share) in Q1 2026, reflecting strong operational performance and earnings growth.

• Funded volume rose 6% year-over-year to $596 million, with volumes accelerating in March and April.

• Maintained #1 position in reverse mortgage market with ~30% share, leveraging proprietary products and a scalable platform.

• Expanded product offerings with new second lien reverse mortgage and traditional home equity loans, and launched the proprietary Helix platform.

• Completed repurchase of Blackstone's equity interest in February 2026, strengthening capital structure.

Financial highlights

• Net income from continuing operations was $35.2 million for Q1 2026, with adjusted net income of $26 million and adjusted EPS of $1.10, up 112% year-over-year.

• Total revenues were $120.1 million, down from $165.7 million year-over-year but up 62% sequentially from Q4 2025.

• Cash and cash equivalents stood at $108 million at quarter-end, up 108% year-over-year.

• Adjusted EBITDA reached $44 million, up 57% sequentially and 52% year-over-year.

• Tangible equity per share increased to $14.82, up from $12.20 at year-end 2025 and $7.83 a year ago.

Outlook and guidance

• 2026 full-year origination volume guidance maintained at $2.8–$3.1 billion.

• Adjusted EPS guidance raised to $4.50–$5.00, reflecting strong Q1 performance and business momentum.

• Management expects continued growth in reverse mortgage and home equity loan originations, supported by new products, digital initiatives, and strategic partnerships.

• Will revisit capital allocation priorities after de-leveraging.