Better Home & Finance Holding Company Earnings Call Transcripts
Fiscal Year 2026
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Q1 saw 89% year-over-year loan volume growth and 52% revenue growth, with improved operating leverage and a reduced adjusted EBITDA loss. Despite macro headwinds from rising rates, guidance points to continued revenue growth and a path to breakeven by Q3 2026.
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The company is rapidly scaling through AI-driven mortgage automation, targeting $1B monthly loan volume and EBITDA breakeven by Q3 2026. Key growth comes from fintech partnerships, Tinman AI adoption, and a shift to platform strategy, with major upside if rates fall.
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The company has transformed its business model, leveraging AI to drive significant growth in loan volume, revenue, and efficiency. Strategic partnerships and a disruptive platform position it for rapid expansion, with expectations to double loan volume and achieve profitability by Q3 2026.
Fiscal Year 2025
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Q4 and full year 2025 saw strong growth in loan volume and revenue, driven by rapid adoption of the Tinman AI platform and major partnerships. Operational efficiencies and cost reductions improved margins, with breakeven Adjusted EBITDA targeted by Q3 2026.
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Q3 2025 saw 17% loan volume and 51% revenue growth year-over-year, driven by AI-powered platforms and new partnerships. Adjusted EBITDA loss narrowed, and the company targets break-even by Q3 2026 as partnership channels scale and cost efficiencies improve.
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A tech-driven mortgage platform has pivoted from refinance to purchase and home equity products, leveraging AI for efficiency and growth. Strategic partnerships and a balance sheet-light model support rapid scaling, with positive Adjusted EBITDA targeted by Q3 2026.
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Q2 2025 saw 25% loan volume and 37% revenue growth, driven by AI-powered platforms and strong home equity performance. Cost efficiencies and margin expansion are accelerating the path to adjusted EBITDA breakeven by Q3 2026, with robust B2B and D2C channel growth.
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Q1 2025 saw 31% loan volume and 46% revenue growth year-over-year, with major efficiency gains from AI and the Tin Man platform. Debt retirement improved equity by $200M, and new B2B partnerships are scaling rapidly. Adjusted EBITDA losses are narrowing as cost reductions and productivity gains accelerate.
Fiscal Year 2024
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Funded loan volume grew 19% and revenue 50% year-over-year in 2024, with significant cost reductions and AI-driven efficiency gains. Neo Home Loans is ramping up to offset the loss of Ally, and further margin improvements are expected as AI adoption increases.
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Q3 2024 funded loan volume rose 42% year-over-year to $1.035B, with revenue at $29M and a net loss of $54M. AI assistant Betsy launched, and expansion into distributed retail began via NEO Home Loans. Q4 volume expected to match Q3 amid challenging rates.
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A fully digital mortgage platform leverages proprietary technology and AI to streamline loan origination, drive rapid growth, and maintain strong operating leverage. With a robust B2B pipeline, expanding home equity products, and a focus on digital adoption, the company is positioned for recovery as rates decline.
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Q2 2024 saw 45% loan volume and 41% revenue growth sequentially, with expenses flat and improved margins. Investments in AI, automation, and experienced loan officers drove efficiency, while a reverse stock split was announced to regain Nasdaq compliance.