v3.26.1
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Assets    
Cash and cash equivalents $ 64,265 $ 79,357
Restricted cash 9,412 8,926
Mortgage loans held for sale, at fair value 563,036 466,681
Other receivables, net 16,144 10,716
Property and equipment, net 1,944 1,815
Right-of-use assets 4,460 4,678
Internal use software and other intangible assets, net 17,968 17,349
Goodwill 10,995 10,995
Derivative assets 6,017 4,210
Prepaid expenses and other assets 33,300 27,143
Total Assets 1,568,795 1,505,434
Liabilities    
Warehouse lines of credit 507,581 411,862
Senior notes 198,802 198,802
Accounts payable and accrued expenses (includes payables to related parties of $0 and $200) 60,447 58,993
Escrow payable and other customer accounts 664 172
Derivative liabilities 329 804
Warrant and equity related liabilities, at fair value 3,240 1,476
Lease liabilities 4,383 4,629
Other liabilities 6,075 6,533
Total Liabilities 1,560,242 1,468,251
Commitments and contingencies (see Note 12)
Stockholders’ Equity    
Common stock $0.0001 par value; 66,000,000 shares authorized and 16,691,934 and 15,996,907 shares issued and outstanding 2 2
Additional paid-in capital 2,153,072 2,109,762
Accumulated deficit (2,146,549) (2,076,238)
Accumulated other comprehensive gain 2,028 3,657
Total Stockholders’ Equity 8,553 37,183
Total Liabilities and Stockholders’ Equity 1,568,795 1,505,434
Held-for-Sale    
Assets    
Assets held for sale and discontinued operations 6,258 8,687
Liabilities    
Liabilities held for sale and discontinued operations 6,079 4,802
Discontinued Operations    
Assets    
Assets held for sale and discontinued operations 834,996 864,877
Liabilities    
Liabilities held for sale and discontinued operations $ 772,642 $ 780,178