Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2024

Schedule of Consolidated Statements of Operations and Comprehensive Loss

The impacts of the reclassifications on the consolidated statements of operations and comprehensive loss are as follows:


(Amounts in thousands)		Year Ended December 31, 2023
	Caption name change	As previously reported		Reclassifications		As reclassified
Revenues:
Mortgage platform revenue, net	Gain on loans, net	$	61,328	$	(2,532)	$	58,796
Cash offer program revenue		304		(304)		—
Other platform revenue	Other revenue	11,293		4,816		16,109
Net interest income
Interest income		15,575		13,456		29,031
Warehouse interest expense	Interest expense	(11,680)		(19,916)		(31,596)
Net interest income		3,895		(6,460)		(2,565)
Total net revenues		76,820		(4,480)		72,340

Expenses:
Compensation and benefits		—		181,735		181,735
Mortgage platform expenses	Loan origination expense	84,083		(74,607)		9,476
Cash offer program expenses		397		(397)		—
Other platform expenses	Other expenses/(Income)	13,048		240,508		253,556
General and administrative expenses		147,214		(87,064)		60,150
Marketing and advertising expenses		22,080		(2,557)		19,523
Technology and product development expenses		83,815		(44,384)		39,431
Restructuring and impairment expenses		17,459		(17,459)		—
Depreciation and amortization		—		42,891		42,891
Total expenses		368,096		238,666		606,762



Interest and other income (expense), net
Other income (expense)		13,614		(13,614)		—
Interest and amortization on non-funding debt		(19,916)		19,916		—
Change in fair value of warrant liabilities		(507)		507		—
Change in fair value of convertible preferred stock warrants		266		(266)		—
Change in fair value of bifurcated derivative		(236,603)		236,603		—
Total interest and other expense, net		(243,146)		243,146		—

Loss before income tax (benefit) expense		(534,422)		—		(534,422)
Income tax (benefit) expense		1,998		—		1,998
Net loss		$	(536,420)	$	—	$	(536,420)