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Better Home & Finance (BETR) investor relations material
Better Home & Finance Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary13 Nov, 2025
Executive summary
Transitioned from direct-to-consumer to a platform and software provider for the home finance ecosystem, leveraging AI (Betsy™ and TinmanⓇ) to serve consumers and institutional partners, driving operational efficiency, scalability, and customer satisfaction.
Executed multiple strategic partnerships with major financial platforms and non-bank originators, expanding distribution and market reach, with further partnerships anticipated.
Revenue for Q3 2025 rose to $44 million, up 51–52% year-over-year, driven by higher loan origination and home equity products.
Net loss for Q3 2025 was $39 million, an improvement from $54 million in Q3 2024, reflecting higher revenues and cost controls.
CFO Kevin Ryan announced retirement effective November 2025, with a search for his successor underway.
Financial highlights
Q3 2025 funded loan volume reached $1.21 billion, up 17–41% year-over-year, with home equity volume up 52%, refinance up 41%, and purchase up 5%.
Adjusted EBITDA loss narrowed to $24.9–25 million from $38.9–39 million a year ago.
Adjusted Net Loss for Q3 2025 was $28.5 million, improved from $48.9 million in Q3 2024.
Ended Q3 2025 with $226 million in cash, restricted cash, short-term investments, and assets held for sale.
Gain on loans, net, increased 129% year-over-year to $36.2 million in Q3 2025.
Outlook and guidance
Expect TinMan AI Platform originations to exceed $600 million in Q4 2025, with total funded loan volume projected to increase year-over-year for full year 2025.
Targeting break-even Adjusted EBITDA by end of Q3 2026, driven by volume growth, improved unit economics, and cost reductions.
Management expects continued growth in loan origination, especially in home equity and retail channels, with further loss reduction through AI-driven efficiencies.
Liquidity is expected to be sufficient for at least the next 12 months, supported by warehouse lines, customer deposits, and ATM equity program.
Top 5 financial services partner: long-term volume?
How does AI reduce cost to originate loans?
Detail strategy for corporate cost reductions.
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Next Better Home & Finance earnings date
Q4 202527 Mar, 2026
Next Better Home & Finance earnings date
Q4 202527 Mar, 2026
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Frequently asked questions
Better Home & Finance Holding Company is a digitally native homeownership company serving customers across all 50 U.S. states and the United Kingdom. The company's suite of products encompasses residential mortgage, insurance, and real estate services, aiming to simplify the homeownership process for its clients. BETR offers a range of loan types, including GSE-conforming, FHA-insured, VA-guaranteed, and jumbo loans, catering to a diverse client base comprising GSEs, banks, insurance companies, asset managers, and mortgage REITs. The company is headquartered in New York, NY, and its shares are listed on the Nasdaq.
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