Quarterly report [Sections 13 or 15(d)]

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Revenue        
Loan origination fees and gain on sale of loans, net $ 236,001 $ 205,848 $ 421,214 $ 339,908
Gain on reverse mortgage loans held for investment and HMBS-related borrowings, net 2,591 2,134 5,506 5,364
Loan servicing and other fees 72,745 67,709 145,496 133,497
Valuation adjustment of mortgage servicing rights (41,313) 2,134 (111,249) 22,912
Interest income 38,714 36,219 67,808 60,947
Interest expense (28,963) (28,647) (51,042) (45,188)
Other (expense) income, net (330) 288 198 27
Net revenue 279,445 285,685 477,931 517,467
Expenses        
Salaries, incentive compensation and benefits 202,838 188,938 376,050 329,005
General and administrative 31,426 28,398 60,579 57,609
Occupancy, equipment and communication 19,913 20,348 41,633 40,163
Depreciation and amortization 3,611 3,970 7,258 7,724
Provision for (reversal of) foreclosure losses 1,115 (496) 3,493 (104)
Total expenses 258,903 241,158 489,013 434,397
Income (loss) before income taxes 20,542 44,527 (11,082) 83,070
Income tax expense (benefit) 1,879 6,936 (5,786) 17,079
Net income (loss) 18,663 37,591 (5,296) 65,991
Net income (loss) attributable to non-controlling interests 2 8 (60) (90)
Net income (loss) attributable to Guild $ 18,661 $ 37,583 $ (5,236) $ 66,081
Earnings (loss) per share attributable to Class A and Class B common stock:        
Basic (in dollars per share) $ 0.30 $ 0.61 $ (0.08) $ 1.08
Diluted (in dollars per share) $ 0.30 $ 0.60 $ (0.08) $ 1.06
Weighted average shares outstanding of Class A and Class B common stock:        
Basic (in shares) 62,168 61,337 62,039 61,223
Diluted (in shares) 62,622 62,393 62,039 62,275