Q - ONITY GROUP
For the period ended Jun 30, 2025. Filed Aug 5, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2025 · Filed Aug 5, 2025
ONIT$30.44-5.2%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Cash Flows for the and
UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS
| For the Six Months Ended June 30, | ||
|---|---|---|
| 2025 | 2024 | |
| Cash flows from operating activities | ||
| Net income | $43.6 | $40.6 |
| Adjustments to reconcile net income to net cash provided by (used in) operating activities: | ||
| MSR valuation adjustments, net | 101.0 | 81.5 |
| Provision for bad debts (advances and receivables) | 9.0 | 14.2 |
| Provision for indemnification obligations | 1.5 | 2.0 |
| Depreciation | 2.3 | 2.8 |
| Amortization of debt issuance costs and discount | 11.6 | 17.9 |
| Amortization of intangibles | 0.5 | 1.7 |
| Gain on extinguishment of debt | — | (1.4) |
| Equity-based compensation expense | 4.2 | 4.8 |
| Gain on reverse loans held for investment and HMBS-related borrowings, net | (27.2) | (16.0) |
| Gain on loans held for sale, net | (22.2) | (27.4) |
| Origination and purchase of loans held for sale | (10,162.0) | (7,409.4) |
| Proceeds from sale and collections of loans held for sale | 9,287.0 | 6,888.1 |
| Changes in assets and liabilities: | ||
| Decrease in advances | 101.2 | 112.8 |
| Decrease (increase) in receivables and other assets | (6.1) | 23.2 |
| Increase in derivatives | (27.8) | (78.8) |
| Decrease in other liabilities | (44.8) | (17.1) |
| Other, net | (18.5) | (14.6) |
| Net cash used in operating activities | (746.9) | (375.0) |
| Cash flows from investing activities | ||
| Origination of loans held for investment | (545.5) | (520.3) |
| Principal payments received on loans held for investment | 1,563.4 | 599.1 |
| Purchase of MSRs | (151.0) | (62.1) |
| Proceeds from sale of MSRs | 4.8 | 96.0 |
| Distribution from (investment in) equity method investee, net | — | 6.5 |
| Acquisition of advances in connection with MSR transactions | (3.4) | — |
| Proceeds from sale of advances in connection with MSR transactions | 0.7 | 9.3 |
| Purchase of real estate | (4.7) | (12.1) |
| Proceeds from sale of real estate | 22.5 | 12.3 |
| Additions to premises and equipment | (0.3) | (0.2) |
| Net cash provided by investing activities | 886.5 | 128.4 |
| Cash flows from financing activities | ||
| Repayment of advance match funded liabilities, net | (74.6) | (94.7) |
| Proceeds from mortgage loan financing facilities, net | 656.4 | 471.9 |
| Proceeds from MSR financing facilities | 1,826.8 | 605.4 |
| Repayment of MSR financing facilities | (1,565.3) | (592.7) |
| Repurchase of Senior notes | — | (45.5) |
| Payment of debt issuance costs | (0.3) | (3.4) |
| Proceeds from other financing liabilities - Sale of MSRs accounted for as secured financing | 15.7 | 17.7 |
| Repayment of other financing liabilities | (34.8) | (37.4) |
| Proceeds from sale of Home Equity Conversion Mortgages (HECM, or reverse mortgages) accounted for as a financing (HMBS-related borrowings) | 577.6 | 507.7 |
| Repayment of HMBS-related borrowings | (1,544.6) | (588.1) |
| Payment of preferred stock dividend | (2.1) | — |
| Payment on exercise of common stock warrants | (3.5) | — |
| Net cash provided by (used in) financing activities | (148.6) | 240.8 |
| Net decrease in cash, cash equivalents and restricted cash | (9.0) | (5.7) |
| Cash, cash equivalents and restricted cash at beginning of year | 265.6 | 255.1 |
| Cash, cash equivalents and restricted cash at end of period | $256.6 | $249.4 |
| Supplemental cash flow information | ||
| Interest paid | $126.4 | $119.8 |
| Income tax payments (refunds), net | ||
| Federal | $0.3 | $9.5 |
| State | 0.4 | 0.4 |
| Foreign | 1.8 | 1.1 |
| $2.5 | $11.0 | |
| Supplemental non-cash investing and financing activities: | ||
| Recognition of gross right-of-use asset and lease liability | ||
| Right-of-use asset | $0.7 | $1.9 |
| Lease liability | 0.7 | 1.9 |
| Derecognition of MSRs and Other financing liabilities, at fair value: | ||
| MSR, at fair value | $(12.2) | $(85.7) |
| Other financing liability, at fair value - MSR pledged liability | (12.2) | (85.7) |
The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the unaudited consolidated balance sheets and the unaudited consolidated statements of cash flows:
| June 30, 2025 | June 30, 2024 | |
|---|---|---|
| Cash and cash equivalents | $194.3 | $203.1 |
| Restricted cash and equivalents: | ||
| Debt service accounts | 27.2 | 27.0 |
| Other restricted cash | 35.2 | 19.3 |
| Total cash, cash equivalents and restricted cash reported in the statements of cash flows | $256.6 | $249.4 |
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