v3.26.1
BUSINESS SEGMENTS
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
BUSINESS SEGMENTS

6. BUSINESS SEGMENTS

 

The Company’s CODM, the Chief Executive Officer, evaluates how the Company views and measures its performance. ASC 280, Segment Reporting establishes the standards for reporting information about segments in financial statements. After consideration of these criteria, the CODM has determined that there are four reportable segments, consisting of Beeline Loans, Beeline Title Holdings, BeelineEquity and Corporate.

 

Beeline Loans is an AI-driven fintech mortgage lender that also develops proprietary software in the form of major enhancements and new developments to its lending platform. Corporate allocates a portion of compensation and benefits, and general and administrative expenses to Beeline Loans, which is included in the segments’ financial data below.

 

Beeline Title Holdings provides title and loan closing services for the Company’s mortgage origination business and other lenders; and title closing services for the Company’s fractional equity transactions.

 

BeelineEquity provides customer service, transaction processing and platform support to TYTL who offers a fractional equity product to homeowners.

 

Corporate primarily consists of general corporate expenses, including public company costs, executive compensation, legal and regulatory compliance, and other administrative functions that support the overall business. This segment also includes holding company expenses, such as financing costs, accounting, legal, insurance, investor relations, and strategic corporate initiatives that are not directly attributable to any operating segment.

 

The Company measures segment performance to allocate resources primarily based on revenues of Beeline Loans and Beeline Title Holdings and the general and administrative costs related to corporate. Total asset information by segment is not provided to, or reviewed by, the CODM as it is not used to make strategic decisions, allocate resources or assess performance. The accounting policies of the segments are the same as those described for the Company in Note 3 - Summary of Significant Accounting Policies.

 

Segment information was as follows for the three and six months ended June 30, 2026 and 2025 (dollars in thousands):

 

   2026   2025   2026   2025 
   Three Months Ended June 30,   Six Months Ended June 30, 
   2026   2025   2026   2025 
Beeline Loans                    
Gain on sale of loans, net  $1,752   $1,112   $3,597   $1,927 
Loan origination fees   381    186    776    336 
Interest income (expense)                    
Interest income   160    71    337    142 
Interest expense   (160)   (64)   (349)   (129)
Interest income (expense), net   -    7    (12)   13 
Other revenues   64    6    15    10 
Total net revenues   2,197    1,311    4,376    2,286 
Compensation, commissions and benefits   1,535    851    3,392    2,000 
General and administrative expenses   251    (94)   886    401 
Depreciation and amortization   778    812    1,568    1,607 
Marketing and advertising   1,025    745    1,990    1,189 
Other operating expenses   628    337    1,360    899 
Total operating expenses   4,217    2,651    9,196    6,096 
Loss from operations   (2,020)   (1,340)   (4,820)   (3,810)
Interest expense   -    (10)   -    (20)
Net loss from continuing operations  $(2,020)  $(1,350)  $(4,820)  $(3,830)

 

   2026   2025   2026   2025 
   Three Months Ended June 30,   Six Months Ended June 30, 
   2026   2025   2026   2025 
Beeline Title Holdings                    
Title fees (includes related party fees of $4 and $17 for the three and six months ended June 30, 2026, respectively)  $407   $365   $787   $637 
Total net revenues   407    365    787    637 
Compensation and benefits   330    360    684    610 
General and administrative expenses   34    69    64    81 
Marketing and advertising   28    33    61    111 
Other operating expenses   167    17    335    139 
Total operating expenses   559    479    1,144    941 
Net loss from continuing operations  $(152)  $(114)  $(357)  $(304)

 

 

   2026   2025   2026   2025 
   Three Months Ended June 30,   Six Months Ended June 30, 
   2026   2025   2026   2025 
BeelineEquity                                   
Fractional equity revenues, related party 

$

64  

$

-   $58   $- 
Total net revenues   64    -    58    - 
Compensation, commissions and benefits   48    -    137    - 
General and administrative expenses   39    -    48    - 
Marketing and advertising   44    -    64    - 
Other operating expenses   -    -    1    - 
Total operating expenses   131    -    250    - 
Net loss from continuing operations  $(110)  $-   $(192)  $- 

 

   2026   2025   2026   2025 
   Three Months Ended June 30,   Six Months Ended June 30, 
   2026   2025   2026   2025 
Corporate                    
Other revenues, related party  $407   $1,112   $100   $- 
Total net revenues   407    1,112    100    - 
Compensation and benefits   1,125    928    1,841    1,617 
General and administrative expenses   861    1,385    2,117    2,753 
Depreciation and amortization   28    24    53    49 
Marketing and advertising   31    9    55    12 
Other operating expenses   163    96    322    106 
Total operating expenses   2,208    2,442    4,388    4,537 
Loss from operations   (1,801)   (1,330)   (4,288)   (4,537)
Interest income   7    -    13    1 
Interest expense   -    (378)   -    (2,257)
Gain on extinguishment of debt   -    75    -    75 
Change in equity method investment   (31)   205    (148)   129 
Gain on remeasurement of previously held equity interest   480    -    480    - 
Other income (expense), net   -    -    -    14 
Net loss from continuing operations  $(1,752)  $(2,540)  $(3,943)  $(6,575)
                     
Consolidated net loss from continuing operations  $(4,034)  $(4,004)  $(9,312)  $(10,709)