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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Revenue        
Loan production income $ 447,882 $ 357,109 $ 752,633 $ 656,063
Loan servicing income 178,813 143,910 369,330 328,612
Interest income 132,005 121,394 250,107 223,257
Total revenue 758,700 622,413 1,372,070 1,207,932
Other gains (losses)        
Change in fair value of mortgage servicing rights (111,421) (142,485) (500,006) (158,048)
Gain on other interest rate derivatives 208,904 27,166 208,904 27,166
Other gains (losses), net 97,483 (115,319) (291,102) (130,882)
Expenses        
Salaries, commissions and benefits 211,461 160,311 404,261 314,552
Direct loan production costs 46,330 45,485 89,457 76,921
Marketing, travel, and entertainment 26,379 24,438 48,569 43,549
Depreciation and amortization 12,200 11,404 23,540 22,744
General and administrative 59,999 55,051 128,147 95,860
Servicing costs 35,083 25,787 65,517 56,111
Interest expense 133,467 108,651 253,877 207,319
Other expense (income) 1,846 (1,105) (1,002) (1,342)
Total expenses 526,765 430,022 1,012,366 815,714
Earnings before income taxes 329,418 77,072 68,602 261,336
Provision for income taxes 14,939 786 1,151 4,519
Net income 314,479 76,286 67,451 256,817
Net income attributable to non-controlling interest 291,570 73,236 58,221 245,037
Net income attributable to UWM Holdings Corporation $ 22,909 $ 3,050 $ 9,230 $ 11,780
Earnings per share of Class A common stock (see Note 17):        
Basic (in usd per share) $ 0.11 $ 0.03 $ 0.05 $ 0.12
Diluted (in usd per share) $ 0.11 $ 0.03 $ 0.03 $ 0.12
Weighted average shares outstanding:        
Basic (in shares) 202,133,122 95,387,609 183,221,635 94,876,800
Diluted (in shares) 202,133,122 95,387,609 1,598,706,211 94,876,800