FOACW: the cash flow

Cash Flow Overview

Change in Cash

$22,678K

Unit: Thousand (K) dollars

Positive Cash Flow Breakdown

Negative Cash Flow Breakdown

Cash Flow

2025-12-31

Net income

103,039

Change in fair value of loans and related obligations

584,180

Amortization and depreciation

38,595

Amortization of debt discount and issuance costs on notes payable

19,026

Impairment of other assets

Deferred income taxes

-3,519

Change in fair value of deferred purchase price liabilities

-2,931

Change in fair value of convertible notes

-13,800

Equity-based compensation

10,161

Originations/purchases of loans held for sale

75,362

Proceeds from sale of loans held for sale

53,719

Gain on the exchange of senior notes

Other assets, net

-5,773

Payables and accrued expenses

-11,020

Other operating activities, net

3,153

Net cash used in operating activities

-429,746

Purchases and originations of loans held for investment

3,322,290

Proceeds/payments received on loans held for investment

3,121,623

Purchases and originations of loans held for investment, subject to nonrecourse debt

24,735

Proceeds/payments on loans held for investment, subject to nonrecourse debt

1,085,448

Proceeds on sale of mortgage servicing rights (msr)

Proceeds from sale of businesses

Other investing activities, net

5,159

Net cash provided by investing activities

854,887

Proceeds from issuance of hmbs related obligations

2,006,384

Payments on hmbs related obligations

2,654,729

Proceeds from issuance of nonrecourse debt

4,991,431

Payments on nonrecourse debt

4,942,510

Proceeds from other financing lines of credit

5,440,354

Payments on other financing lines of credit

5,170,902

Proceeds from notes payable

40,000

Payments on notes payable

117,408

Repurchase of class a common stock and class a llc units

40,149

Proceeds from issuance of preferred stock, net of issuance costs

49,314

Dividends paid on preferred stock

196

Other financing activities, net

-4,043

Net cash provided by (used in) financing activities

-402,454

Effect of exchange rate changes on cash and cash equivalents

-9

Net increase in cash and cash equivalents and restricted cash

22,678

Cash and cash equivalents and restricted cash, beginning of period

301,968

Cash and cash equivalents and restricted cash, end of period

324,646

Time Plot

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