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BETR

Better Home & Finance Holding Company

BETR

Better Home & Finance Holding Company • NASDAQ
$48.42 ▲ 2.72% (+1.28)
Market Cap $736.09 M
52w High $94.06
52w Low $7.71
Dividend Yield 0%
P/E -3.98
Volume 207.17K
Outstanding Shares 15.20M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $44.241M ▼ $0 ▼ $-39.125M ▼ -88.436% ▼ $-2.56 ▼ $-22.579M ▼
Q2-2025 $51.331M ▲ $36.631M ▲ $-36.27M ▲ -70.659% ▲ $-2.39 ▲ $-22.562M ▲
Q1-2025 $34.794M ▼ $29.347M ▼ $-50.557M ▲ -145.304% ▼ $-3.33 ▲ $-46.247M ▼
Q4-2024 $47.237M ▲ $36.907M ▼ $-59.223M ▼ -125.374% ▲ $-3.9 ▼ $-18.719M ▲
Q3-2024 $26.747M $40.768M $-54.21M -202.677% $-3.58 $-48.96M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $218.346M ▼ $1.393B ▲ $1.342B ▲ $51.072M ▼
Q2-2025 $221.524M ▼ $1.232B ▲ $1.155B ▲ $76.557M ▲
Q1-2025 $227.976M ▼ $1.005B ▲ $1.107B ▲ $-102.145M ▼
Q4-2024 $264.875M ▲ $913.057M ▲ $971.227M ▲ $-58.17M ▼
Q3-2024 $262.087M $845.163M $844.775M $388K

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-39.125M ▼ $-64.617M ▼ $-142.13M ▲ $193.576M ▼ $-11.335M ▲ $-64.861M ▼
Q2-2025 $-36.27M ▲ $-61.001M ▼ $-233.364M ▼ $257.525M ▲ $-37.983M ▲ $-61.426M ▼
Q1-2025 $-50.557M ▲ $-57.187M ▼ $-158.843M ▼ $118.821M ▼ $-99.755M ▼ $-59.728M ▼
Q4-2024 $-59.223M ▼ $-54.452M ▼ $-77.691M ▼ $144.939M ▲ $-1.562M ▲ $-54.877M ▼
Q3-2024 $-54.21M $-10.563M $-48.851M $-51.719M $-110.321M $-13.804M

Five-Year Company Overview

Income Statement

Income Statement Revenue has fallen sharply since 2021, and the business has not yet found a stable growth path. The core operations are running at a loss, with negative gross profit and persistent operating and net losses. Profitability actually deteriorated in the last two years, suggesting that current scale and pricing are not yet sufficient to cover costs, even with a digital, automated model. The earnings per share line is very volatile, reflecting both business swings and capital structure changes rather than steady progress toward profit.

Balance Sheet

Balance Sheet The balance sheet looks strained. The company has a modest asset base, a meaningful level of debt, and equity that has dipped into negative territory in most recent periods. Cash has come down from earlier levels, while debt remains high relative to the size of the business. This combination points to leverage risk and limited financial cushion. The reverse split is another sign that the capital structure and market valuation have been under pressure. Overall, financial flexibility appears constrained and highly dependent on access to external funding or a turnaround in performance.

Cash Flow

Cash Flow Cash flow has been inconsistent. Earlier years showed some positive cash generation from operations, but the most recent periods point to cash burn rather than cash build. Free cash flow is negative, which means the company is consuming cash to keep operating, even though its capital spending needs are relatively light. This profile is typical of a business still trying to scale its model, but it also raises questions about how long current cash resources can support operations without additional capital or a clear move toward break-even.

Competitive Edge

Competitive Edge The company’s edge is built around being a digital-first, AI-heavy mortgage platform that can process loans faster and at lower cost than traditional lenders. Its technology, speed, and integrated ecosystem (mortgage, title, insurance, and more) differentiate it from many incumbents that rely on slower, manual processes. However, it operates in a highly competitive market against big banks, established non-bank lenders, and other fintechs, all of which can respond with their own technology investments. The business is also heavily exposed to the housing and interest rate cycle, which can quickly swing demand for mortgages. So while the technology gives a real competitive angle, the overall competitive environment remains tough and cyclical.

Innovation and R&D

Innovation and R&D Innovation is a clear strength. The Tinman AI platform, the Betsy AI assistant, and the ability to deliver very fast approvals show a strong focus on automation and customer experience. Beyond consumer lending, turning Tinman into a platform for other financial institutions could create a higher-margin, recurring revenue stream if adoption grows. Newer products, like rapid-commitment mortgages and AI-driven home equity lending for non-traditional earners, illustrate an effort to widen the addressable market. The key uncertainty is not whether the technology is novel, but whether it can be monetized at scale and maintained in a heavily regulated, risk-sensitive industry over time.

Summary

Better Home & Finance is a tech-forward mortgage player with impressive AI tools and an ambitious platform strategy, but its financial profile is still that of a company in transition and under stress. Revenues have shrunk from earlier peaks, losses remain sizable, and the balance sheet shows high leverage and a thin equity cushion. Cash is being consumed rather than generated, which heightens dependence on capital markets or a successful turnaround. On the positive side, the company’s technology stack, rapid decisioning, and move into B2B software and home equity products create genuine strategic options. The central question going forward is whether management can translate these innovations into sustainable, profitable growth quickly enough to strengthen the balance sheet and stabilize cash flow in a cyclical and highly competitive mortgage market.

NEWS

November 13, 2025 · 7:00 AM UTC

Better Home & Finance Holding Company Announces Third Quarter 2025 Results

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November 5, 2025 · 9:00 AM UTC

Better Home & Finance Holding Company to Participate in November 2025 Investor Conferences

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November 4, 2025 · 9:00 AM UTC

Better.com's Keith Soura Named a 2025 HousingWire Tech Trendsetter

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October 28, 2025 · 4:05 PM UTC

Better Home & Finance Holding Company to Announce Third Quarter 2025 Results

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October 28, 2025 · 9:00 AM UTC

Better Named Among Top Innovators in Banking at The Inaugural 2025 Money Awards

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