Total revenues at FOA dropped from $276 million in Q4 2023 to $75 million in Q1 2024. Despite net losses, company leaders are optimistic about strategic decisions made.
CEO Graham Fleming highlighted improved operating performance, with an adjusted net loss of $7 million in Q1 2024, a 65% improvement from Q4 2023, driven by higher revenues and lower costs.
FOA saw only a 3% decrease in reverse volumes compared to the prior quarter, with a $5 million increase in revenue in the originations platform due to improved margins.
#finance-of-america-companies #financial-performance #strategic-positioning #profitability #revenues-and-losses
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