7Baggers
Quarterly
Annual
    Unit: USD2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-03-31 
      
    		                    
      cash flows from operating activities
    		                    
      net income
    		12,088,000 314,479,000 -247,028,000 40,613,000 31,945,000 76,286,000 180,531,000 -460,956,000 300,993,000 228,794,000 -138,613,000 -62,484,000 325,610,000 215,445,000 453,287,000 239,826,000 329,857,000 138,712,000 860,005,000  
      adjustments to reconcile net income to net cash from operating activities:
    		                    
      reserve for representations and warranties
    		5,582,000 9,800,000 10,376,000 3,252,000 16,329,000 13,393,000 10,463,000 9,865,000 12,181,000 20,103,000 7,527,000 19,538,000 24,138,000 5,977,000 7,762,000 11,039,000 12,601,000 11,843,000 9,818,000  
      capitalization of mortgage servicing rights
    		-829,978,000 -901,271,000 -735,571,000 -950,993,000 -761,928,000 -682,671,000 -535,951,000 -465,730,000 -637,280,000 -640,972,000 -525,396,000 -472,947,000 -682,510,000 -412,678,000 -645,437,000 -553,622,000 -663,246,000 -581,226,000 -599,389,000  
      change in fair value of mortgage servicing rights
    		307,825,000 111,421,000 388,585,000 -309,149,000 446,100,000 142,485,000 15,563,000 634,418,000 -92,909,000 -24,648,000 337,287,000 150,808,000 -236,780,000 -26,169,000 -171,963,000 138,988,000 170,462,000 219,104,000 59,259,000  
      depreciation & amortization
    		14,139,000 13,531,000 12,631,000 12,162,000 12,620,000 11,672,000 12,323,000 12,438,000 12,791,000 12,178,000 12,653,000 12,949,000         
      stock-based compensation expense
    		14,732,000 11,729,000 8,310,000 8,999,000 5,768,000 3,937,000 5,876,000 3,961,000 3,822,000 3,567,000 2,482,000 2,055,000 1,986,000 1,676,000 1,828,000 2,014,000 2,126,000    
      increase in fair value of investment securities
    		-1,628,000 -403,000 -1,721,000 3,980,000      612,000 -2,600,000          
      increase in fair value of warrants liability
    		   -8,494,000 5,830,000 -1,739,000 -686,000 4,808,000 -2,021,000 1,175,000 2,098,000          
      decrease (increase) in:
    		                    
      mortgage loans at fair value
    		-2,744,151,000 361,901,000 1,114,326,000 625,146,000 -1,905,500,000 -898,048,000 -1,888,251,000 110,155,000 709,885,000 -1,469,665,000 2,334,701,000 -2,357,166,000 -8,835,000 -124,215,000 12,265,157,000 -5,736,682,000 667,470,000 -6,900,841,000 2,413,244,000  
      derivative assets
    		-32,090,000 -15,398,000 56,006,000 -32,987,000 -12,015,000 -20,912,000 -1,031,000 59,772,000 -31,384,000 -271,000 21,733,000 302,479,000 -260,268,000 116,853,000 -174,576,000 76,451,000 -68,369,000 37,730,000 -52,096,000  
      other assets
    		208,305,000 -210,883,000 -10,164,000 122,713,000 -142,530,000 41,161,000 35,719,000 -193,858,000 -17,260,000 69,651,000 -27,818,000 181,572,000 -205,185,000 253,329,000 -173,090,000 -168,620,000 1,651,000 2,904,000 -394,000  
      increase in:
    		                    
      derivative liabilities
    		-35,473,000 48,764,000 -8,043,000 -57,634,000 67,428,000 -747,000 -13,863,000 1,899,000 17,148,000 -41,008,000 12,994,000 -165,582,000 121,372,000 -21,472,000 78,689,000 -24,693,000 -21,117,000 27,072,000 -10,758,000  
      other liabilities
    		543,000 -8,237,000 6,876,000 -866,000 63,044,000 -2,606,000 -23,702,000 -38,583,000 64,993,000 -3,828,000 -44,126,000 -155,813,000 353,441,000 -418,993,000 91,395,000      
      net cash from operating activities
    		-3,079,336,000 -265,876,000 593,898,000 -543,258,000 -2,178,318,000 -1,317,179,000 -2,202,740,000 -329,269,000 345,903,000 -1,844,312,000 1,992,922,000 -2,544,640,000 -547,879,000 -391,062,000 11,751,763,000 -6,203,104,000 592,098,000 -6,982,974,000 2,637,017,000  
      cash flows from investing activities
    		                    
      purchases of premises and equipment
    		-10,355,000 -24,191,000 -17,764,000 -8,293,000 -12,265,000 -11,924,000 -6,973,000 -6,817,000 -6,329,000 -5,336,000 -7,952,000 -5,874,000 -5,379,000 -9,260,000 -6,102,000 -13,113,000 -19,998,000 -22,458,000 -9,815,000  
      net proceeds from sale of mortgage servicing rights
    		650,834,000 650,377,000 941,403,000 104,639,000 243,117,000 1,070,338,000 1,293,861,000 174,433,000 587,569,000 430,940,000 650,707,000 139,852,000 347,234,000 210,664,000 613,532,000      
      proceeds from principal payments on investment securities
    		1,978,000 1,756,000 1,752,000 1,970,000 2,037,000 2,120,000 1,760,000 1,632,000 2,154,000 2,039,000 1,614,000 2,418,000 2,486,000 3,015,000 3,068,000 901,000     
      margin calls on borrowings against investment securities
    		500,000 0 3,000,000 -3,500,000 4,500,000 -4,149,000 -1,146,000 8,388,000 -1,776,000   9,374,000 -2,356,000        
      investment in private company equity securities
    		                    
      net cash from investing activities
    		542,957,000 627,942,000 928,391,000 94,816,000 237,389,000 1,056,385,000 1,287,502,000 177,636,000 581,618,000 426,339,000 644,369,000 145,770,000 341,985,000 192,093,000 610,498,000 10,182,000 219,134,000 -22,332,000 -7,233,000  
      cash flows from financing activities
    		                    
      net borrowings under warehouse lines of credit
    		             420,524,000 -11,878,109,000   6,425,471,000 -2,117,657,000  
      repayments of finance lease liabilities
    		-509,000 -573,000 -650,000 -742,000 -950,000 -1,750,000 -2,142,000 -2,613,000 -3,065,000 -456,000 -6,692,000 -4,300,000 -4,453,000 -4,345,000 -4,225,000 -4,084,000 -3,725,000 -3,038,000 -2,857,000  
      borrowings under secured lines of credit
    		550,000,000 700,000,000 225,000,000 1,175,000,000 300,000,000 100,000,000 100,000,000 250,000,000 0            
      repayments under secured lines of credit
    		-975,000,000 -525,000,000 -475,000,000 -975,000,000 0 -300,000,000 -650,000,000 0 0            
      borrowings against investment securities
    		87,142,000 86,896,000 88,775,000 90,645,000 93,662,000 91,406,000 94,064,000 68,739,000 25,075,000   72,697,000         
      repayments of borrowings against investment securities
    		-86,896,000 -88,776,000 -90,646,000 -93,662,000 -91,406,000 -94,064,000 -93,814,000 -72,253,000 -28,648,000   -86,227,000         
      proceeds from issuance of senior notes
    		               500,000,000 0    
      discount and direct issuance cost of senior notes
    		                    
      dividends paid to class a common stockholders
    		-20,598,000 -18,775,000 -15,794,000 -11,315,000 -9,559,000 -9,495,000 -9,365,000 -9,365,000 -9,311,000 -9,310,000 -9,258,000 -9,258,000         
      member distributions paid to sfs corp.
    		-157,862,000 -192,242,000 -151,347,000 -148,503,000 -172,799,000 -198,464,000 -194,261,000 -150,207,000 -150,207,000 -150,207,000 -150,207,000 -149,677,000         
      other financing activities
    		-4,000 -23,000 -338,000 -10,000 0 0 -899,000 -6,000 0 0 -1,307,000          
      net cash from financing activities
    		2,917,098,000 -357,106,000 -1,544,604,000 319,454,000 1,897,103,000 335,308,000 1,023,409,000 -80,515,000 -832,481,000 1,312,486,000 -2,602,126,000 2,304,234,000 46,772,000 256,451,000 -12,192,175,000 5,973,100,000 -908,499,000 6,460,820,000 -2,260,958,000  
      increase in cash and cash equivalents
    		380,719,000 4,960,000 -22,315,000 -128,988,000 -43,826,000 74,514,000 108,171,000 -232,148,000 95,040,000 -105,487,000 35,165,000 -94,636,000 -159,122,000 57,482,000 170,086,000 -219,822,000 -97,267,000 -544,486,000 368,826,000  
      cash and cash equivalents, beginning of the period
    		0 0 507,339,000 0 0 0 497,468,000 0 0 0 704,898,000 0 0 0 731,088,000 0 0 0 1,223,837,000  
      cash and cash equivalents, end of the period
    		380,719,000 4,960,000 485,024,000 -128,988,000 -43,826,000 74,514,000 605,639,000 -232,148,000 95,040,000    -159,122,000 57,482,000 901,174,000 -219,822,000 -97,267,000 -544,486,000 1,592,663,000  
      supplemental information
    		                    
      cash paid for interest
    		122,496,000 148,750,000 84,784,000 176,593,000 100,386,000 131,170,000 68,839,000 107,845,000 119,092,000 50,831,000 63,322,000 119,683,000 40,541,000 43,585,000 37,923,000 110,991,000 71,789,000 68,438,000 36,077,000  
      cash paid for taxes
    		461,000 103,000 58,000             38,000 39,000    
      decrease in fair value of warrants liability
    		 -1,309,000 -685,000         54,000 -755,000 -2,850,000 -4,132,000 -5,161,000 -12,110,000    
      net (repayments) borrowings under warehouse lines of credit
    		                    
      net borrowings (repayments) under warehouse lines of credit
    		  -1,124,604,000 -510,001,000 1,778,155,000                
      repayments under equipment notes payable
    		       0 -433,000 -53,000 -505,000 -274,000 -270,000 -267,000 -226,000 -195,000 -343,000 -23,465,000 -1,557,000  
      cash paid (received) for taxes
    		   18,000 2,100,000 503,000 363,000              
      decrease (increase) in fair value of investment securities
    		     610,000 269,000              
      net repayments under warehouse lines of credit
    		      1,779,826,000 -164,810,000 -665,892,000 1,472,956,000 -2,184,157,000          
      retention of investment securities
    		               -112,630,000     
      borrowings under equipment notes payable
    		               0 0 625,000 453,000  
      discount and direct issuance costs on senior notes
    		               -5,123,000 0    
      proceeds from business combination transaction
    		               0 0 0 895,134,000  
      costs incurred related to business combination transaction
    		               0 0 0 -11,260,000  
      class a common stock repurchased
    		               -60,632,000 -15,279,000    
      decrease in fair value of investment securities
    		           -103,000 7,485,000 9,911,000 10,934,000      
      cash received for taxes
    		        0 0 -124,000          
      borrowings under lines of credit
    		          500,000,000          
      repayments under lines of credit
    		          -750,000,000          
      amortization and pay-offs of mortgage servicing rights
    		                    
      impairment of mortgage servicing rights
    		                    
      member contributions from sfs corp.
    		                    
      borrowings under operating lines of credit
    		               0 0 0 79,700,000  
      repayments under operating lines of credit
    		               0 0    
      depreciation and amortization of premises & equipment, finance lease assets and debt issuance costs
    		             12,124,000 11,909,000      
      dividends paid
    		             -9,254,000 -9,171,000 -10,087,000 -10,237,000    
      member distributions to sfs corp.
    		             -150,207,000 -300,444,000 5,000 -150,212,000    
      (gain) loss on sale of mortgage servicing rights
    		                    
      depreciation and amortization of premises and equipment
    		               6,131,000 4,976,000 5,079,000 4,447,000  
      senior notes issuance cost amortization
    		               863,000 783,000 753,000 549,000  
      amortization of finance lease right-of-use assets
    		               4,270,000 3,937,000 3,252,000 2,985,000  
      proceeds from sale of mortgage servicing rights
    		               22,394,000 238,926,000 126,000 2,582,000  
      proceeds from borrowings against investment securities
    		               86,226,000     
      loss on sale of mortgage servicing rights
    		                    
      impairment on mortgage servicing rights
    		                    
      change in fair value of investment securities
    		                    
      accounts receivable
    		                2,986,000 231,787,000 -303,876,000  
      accounts payable and accrued expenses
    		                196,663,000 -179,930,000 275,290,000  
      (gain)/loss on sale of mortgage servicing rights
    		                 -10,000 -4,763,000  
      (decrease)/increase in fair value of warrants liability
    		                  -17,304,000  
      cash flow from investing activities
    		                    
      member distributions
    		                  -1,102,914,000  
      cash flows from operating activities:
    		                    
      net income/
    		                    
      changes in state franchise tax accrual
    		                    
      changes in prepaid assets
    		                    
      changes in income taxes payable and deferred
    		                    
      changes in deferred offering costs
    		                    
      changes in accrued expenses
    		                    
      cash flows from investing activities:
    		                    
      cash deposited in trust account
    		                    
      interest reinvested in trust account
    		                    
      cash flows from financing activities:
    		                    
      proceeds from sale of units in initial public offering
    		                    
      proceeds from sale of private placement warrants to sponsor
    		                    
      proceeds from notes payable – related party
    		                    
      repayment of notes and advances payable – related party
    		                    
      proceeds from sale of class f common stock to sponsor
    		                    
      payment of underwriter's discounts and commissions
    		                    
      payment of offering costs
    		                    
      increase in cash
    		                    
      cash at beginning of period
    		                    
      cash at end of period
    		                    
      supplemental disclosure of non-cash financing activities:
    		                    
      deferred underwriting compensation
    		                    
      cash paid for income and state franchise taxes
    		                    
      deferred offering costs included in accrued expenses
    		                    
      1.
    		                    
      basic and diluted net income/(loss) per share:
    		                    
      numerator:
    		                    
      allocation of net income/
    		                   616,145 
      denominator:
    		                    
      weighted-average shares outstanding
    		                   2,989,025,011,278,888 
      basic and diluted net income/(loss) per share
    		                   0.02 
      changes in accrued expenses, formation and offering costs
    		                    
      changes in income tax payable
    		                    
      interest and dividends reinvested in the trust account
    		                    
      repayment of notes payable – related party
    		                    
      payment of underwriters’ discounts and commissions
    		                    
      payment of accrued offering costs
    		                    
      deferred offering costs charged to paid-in capital
    		                    
      basic and diluted net income per share:
    		                    
      allocation of net income
    		                    
      basic and diluted net income per share
    		                    
    The information provided in this report is taken from www.sec.gov and many other data providers. While we have conducted our best efforts to ensure that the parsed data is accurate, we cannot guarantee its accuracy. Please use caution and understand that any consequences of its use are your own responsibility.