Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Operations (Unaudited)

v3.23.1
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
REVENUES    
Gain (loss) on sale and other income from loans held for sale, net $ (12,426) $ 6,221
Net fair value gains on loans and related obligations 176,394 6,960
Fee income 6,352 55,173
Net interest expense:    
Interest income 2,091 1,184
Interest expense (31,556) (23,480)
Net interest expense (29,465) (22,296)
TOTAL REVENUES 140,855 46,058
EXPENSES    
Salaries, benefits, and related expenses 40,814 59,099
Occupancy, equipment rentals, and other office related expenses 1,909 2,189
General and administrative expenses 41,054 46,115
TOTAL EXPENSES 83,777 107,403
OTHER, NET 936 2,984
NET INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES 58,014 (58,361)
Provision (benefit) for income taxes from continuing operations 2,532 (7,722)
NET INCOME (LOSS) FROM CONTINUING OPERATIONS 55,482 (50,639)
Net loss from discontinued operations (40,890) (13,356)
NET INCOME (LOSS) [1] 14,592 (63,995)
Net income (loss) attributable to noncontrolling interest from continuing operations 36,755 (41,203)
Net loss attributable to noncontrolling interest from discontinued operations (25,217) (14,299)
NET INCOME (LOSS) FROM CONTINUING OPERATIONS ATTRIBUTABLE TO CONTROLLING INTEREST 18,727 (9,436)
NET INCOME (LOSS) FROM DISCONTINUED OPERATIONS ATTRIBUTABLE TO CONTROLLING INTEREST (15,673) 943
NET INCOME (LOSS) FROM CONTINUING OPERATIONS ATTRIBUTABLE TO CONTROLLING INTEREST $ 3,054 $ (8,493)
EARNINGS PER SHARE (Note 25)    
Basic weighted average shares outstanding (in shares) 64,016,845 60,773,891
Basic net income (loss) per share from continuing operations (in usd per share) $ 0.29 $ (0.16)
Basic net income (loss) per share (in usd per share) $ 0.05 $ (0.14)
Diluted weighted average shares outstanding (in shares) 190,301,012 189,448,936
Diluted net income (loss) per share from continuing operations (in usd per share) $ 0.22 $ (0.23)
Diluted net loss per share from continuing operations (in USD per share) $ 0.07 $ (0.30)
[1] (1) Amounts presented contain results from both continuing and discontinued operations. Refer to Note 4 - Discontinued Operations for additional information regarding cash flow associated with the results of discontinued operations.