Better Home & Finance Holding Company
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Range $16 – $42
Price Chart
About the company
Better Home & Finance Holding Company operates as a U. S. -based enterprise dedicated to various facets of homeownership.
- CEO
- Daniel Seth Lewis
- IPO
- 2021
- Employees
- 1,329
- HQ
- New York City, NY, US
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Similar companies
Peers in the same neighborhood.
- Market Cap
- $175.53M
- P/E
- -1.02
- PEG
- -0.06
- P/S
- 0.83
- P/B
- 3.61
- EV/EBITDA
- -6.56
- Div Yield
- 0.00%
- Gross Margin
- 79.05%
- Op Margin
- -58.11%
- Net Margin
- -85.02%
- ROE
- -465.27%
- ROIC
- -7.91%
Latest fiscal year · YoY change
- Revenue
- $191.37M+59.4%
- Gross Profit
- $148.73M+449.8%
- Op Income
- $-122,975,000
- Net Income
- $-165,871,000+19.6%
- EPS
- $-10.82+20.7%
- OCF Growth
- +38.9%
- FCF Growth
- +40.2%
- 52W High
- $92.69
- 52W Low
- $9.81
- 50D MA
- $14.33
- 200D MA
- $27.24
- Beta
- 1.70
- RSI (14)
- 42
- Avg Volume
- 600.10K
Earnings call summaries
Pick a quarter — each call distilled into takeaways, results, and a bull vs bear read.
Better said Q2 revenue and loan volume grew strongly year over year, but management lowered the timing for adjusted EBITDA breakeven as it shifts toward HELOC, partnerships, and tighter execution.· August 6, 2026
- Q2 loan volume rose 38% year over year to $1.67 billion and total net revenues increased 28% year over year to $54.7 million.
- Adjusted EBITDA loss improved to $14 million, helped by a $6.5 million one-time trade reserve release.
- Q3 guide calls for loan volume of $1.375 billion to $1.525 billion, revenue of $49 million to $52 million, and adjusted EBITDA loss of $18 million to $15 million.
- Management no longer expects to hit September EBITDA breakeven, citing muted refinancing, uncertain partnership launch timing, and a changing revenue mix.
- The company said annual cost savings should exceed $45 million, above the original $25 million target, and cash ended Q2 at about $102 million.
- HELOC and Tinman remain central priorities, with management saying multiple HELOC partnerships should start contributing in Q4.
Q2 loan volume grew 38% year over year to $1.67 billion. Total net revenues increased 28% year over year and 15% quarter over quarter to $54.7 million. Adjusted EBITDA loss was $14 million, improving 39% year over year and 26% quarter over quarter; that figure included a one-time $6.5 million trade reserve release. Product mix in Q2 was refinance at $549 million, home equity at $294 million, and purchase at $824 million; channel mix was 55% Tinman AI platform and 45% direct-to-consumer. For Q3, Better guided to loan volume of $1.375 billion to $1.525 billion, net revenue of $49 million to $52 million, and adjusted EBITDA loss of $18 million to $15 million. Management said the midpoint implies about 20% loan volume growth year over year, 22% revenue growth year over year, and 28% adjusted EBITDA improvement year over year. Cash and cash equivalents were about $102 million, with $10 million of restricted cash, and warehouse capacity was about $850 million, up 48% from year end 2025.
Daniel Lewis framed the quarter as a transition from a founder-led, broad experimentation model to a more focused enterprise execution model. He emphasized fewer priorities, better operational discipline, and a strategy centered on distribution, HELOC, and Tinman rather than waiting for a friendlier rate environment. His tone was confident but cautious: he repeatedly said the company wants to establish credibility through execution, and he made clear the September breakeven goal will be missed.
Loveen Advani said the rate backdrop worsened through the quarter and that mortgage application activity softened industrywide, so Better is planning for an elevated rate environment over the medium term. She cited Q2 loan volume of $1.67 billion, revenue of $54.7 million, and a $14 million adjusted EBITDA loss, noting the loss benefited from a $6.5 million trade reserve release. She also highlighted balance sheet liquidity of about $102 million cash plus $10 million restricted cash, and said warehouse capacity rose to about $850 million. On costs, she said Q2 operating expenses were around $75 million adjusted for the trade, while the Q3 midpoint implies about $67 million, or roughly $8 million of quarter-over-quarter savings.
Analysts pressed on why Q3 guidance implies lower sequential revenue and volume despite better EBITDA, and management said the improvement mostly comes from cost cuts flowing through later in the quarter. They also asked about partnership delays and HELOC ramp timing; Daniel Lewis said delays are tied to enterprise rollout schedules rather than weaker demand, and that multiple HELOC partnerships are signed but not yet launched, with impact expected in Q4. When asked about channel prioritization, he said Better will deemphasize long, expensive integrations that do not fit its API-driven model, and will focus on partnerships that can plug into Tinman more cleanly. He also said pricing will be based around 20% to 25% incremental contribution margin and that there is no formal strategic alternatives process underway.
The call highlighted clear year-over-year growth in both volume and revenue, plus a meaningful improvement in adjusted EBITDA. Management sounded confident that cost reductions will continue to support margin improvement, with annual savings now expected to exceed $45 million. They also pointed to HELOC demand, signed but not yet launched partnerships, and the prospect of Q4 contribution from new channels as potential growth drivers.
Management explicitly backed away from the prior September adjusted EBITDA breakeven target, saying the company will likely miss it. Near-term results remain exposed to a muted refinance market, uncertain partner launch timing, and broader mortgage softness, which makes Q3 guidance wider than usual. Management also acknowledged that some enterprise integrations are costly and have not produced material results, and that Better is still in a transition that requires tighter focus and execution.
AI summary of the company's earnings call · Paraphrased · Not investment advice
- Free Float
- 61.1%
- Shares Outstanding
- 15.67M
- Float Shares
- 9.57M
of shares held by institutions
98 13F filers
Buy/sell ratio 1.86. Sells can include pre-scheduled 10b5-1 plan sales, not just discretionary selling.
Congressional trading
Senate and House stock disclosures for BETR, newest first.
| Member | Type | Traded | |
|---|---|---|---|
| Josh S. GottheimerHouse · NJ05 | Sell | Dec 19, 17 | Filing → |
Source: public STOCK Act disclosures. Filed weeks after the trade — a lagging signal, not a real-time one.
Top institutional holders
Largest 13F positions, with quarter-over-quarter change.
| Holder | Shares | Δ Quarter |
|---|---|---|
| Blackrock, Inc. | 685.83K | ▲ 199.74K |
| Softbank Group Corp. | 628.55K | 0 |
| Frontier Capital Management Co LLC | 625.60K | ▼ 168.34K |
| Healthcare Of Ontario Pension Plan Trust Fund | 578.96K | 0 |
| Vanguard Group Inc | 509.25K | ▲ 110.35K |
| Vanguard Capital Management LLC | 495.75K | ▲ 108.42K |
| Goldman Sachs Group Inc | 337.98K | ▲ 48.29K |
| Citadel Advisors LLC | 335.99K | ▲ 106.02K |
| Whetstone Capital Advisors, LLC | 253.99K | ▲ 253.99K |
| Geode Capital Management, LLC | 237.32K | ▲ 76.43K |
| Bnp Paribas Arbitrage, Snc | 221.64K | ▲ 53.59K |
| State Street Corp | 180.53K | ▲ 57.15K |
Held by 104 ETFs
Biggest fund positions in BETR by dollar value.
Recent insider transactions
Who's buying, who's selling, and how much.
| Date | Insider | Type | Shares |
|---|---|---|---|
| Sep 17, 26 | Tuffin Paula | sell | 3,108 |
| Sep 4, 26 | FEIERSTEIN BARRY | other | 18,750 |
| Sep 4, 26 | FEIERSTEIN BARRY | other | 18,750 |
| Sep 1, 26 | Tuffin Paula | other | 6,132 |
| Sep 1, 26 | Smith Chad M. | other | 10,000 |
| Sep 1, 26 | Smith Chad M. | other | 10,000 |
| Sep 1, 26 | Smith Chad M. | other | 11,243 |
| Aug 19, 26 | Smith Chad M. | sell | 3,307 |
| Aug 6, 26 | Smith Chad M. | other | 5,000 |
| Aug 6, 26 | Smith Chad M. | other | 5,000 |
A “Sell” may be a pre-scheduled 10b5-1 plan sale rather than a discretionary decision — read insider selling with that in mind.
Our BETR coverage
Recent articles, reports, and earnings notes.
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Generate BETR report →BETR Investors Have Opportunity to Lead Better Home & Finance Holding Company Securities Fraud Lawsuit with SBS Law
globenewswire.com · Oct 6
Better Home & Finance (NASDAQ:BETR) Given “Buy” Rating at Needham & Company LLC
defenseworld.net · Oct 6
Better Home & Finance Holding Company Announces Better 2.0 Shareholder Call
businesswire.com · Oct 6
BETR Investors Have Opportunity to Lead Better Home & Finance Holding Company Securities Fraud Lawsuit
gurufocus.com · Oct 5
BETR Investors Have Opportunity to Lead Better Home & Finance Holding Company Securities Fraud Lawsuit
prnewswire.com · Oct 5
ROSEN, LEADING INVESTOR COUNSEL, Encourages Better Home & Finance Holding Company to Secure Counsel Before Important Deadline in Securities Class Action - BETR
globenewswire.com · Oct 5
BETR INVESTOR DEADLINE: Better Home & Finance Holding Company Investors with Substantial Losses Have Opportunity to Lead Shareholder Class Action Lawsuit
newsfilecorp.com · Oct 5
Better Home & Finance Announces Progress Toward Sale of Birmingham Bank
businesswire.com · Oct 5
Headlines from third-party outlets — TickerSpark isn't affiliated with these sources.