Finance of America Q2 net loss $5M; adj. EBITDA turns positive at $9M; note exchange support >99%

Finance of America Companies Inc.

2024-Q2 EPS reported -$1.06 revenue$153,721,000

Net loss from continuing ops $5M ($0.20 basic loss); adjusted net loss $1M ($0.05 per share).
Adjusted EBITDA of $9M, first positive quarter since 2022; fourth consecutive quarter of improved adjusted net results.
Exchange Offer Support Agreement: over 99% of senior unsecured note holders indicated intent to participate.
Reverse stock split completed in July 2024 to regain NYSE continued listing compliance.
Management cites improving operating performance amid home equity-based financing focus.

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