Better Home & Finance Holding Company Stock Earnings Reports

Q1 2026 highlights: Better Home & Finance reported strong top-line momentum with $1.64 billion of funded loan volume (up ~89% YoY) and revenue from continuing operations of $47.5 million (up ~52% YoY). Adjusted EBITDA loss narrowed to ~$19 million, a 48% YoY improvement. The Tinman AI platform now generated ~50% of funded volume in Q1 (up from 44% in Q4), and partnerships (Credit Karma, Finance of America, NEO and top non-bank originators) are ramping, providing low-CAC distribution. Product innovation included a Better Home Equity card (HELOC-linked Mastercard with 1% cash back, launched with Stripe) and a Fannie-eligible token-backed mortgage in partnership with Coinbase. Management expanded warehouse capacity to $850 million (+48% YTD), raised $69 million of equity in April (post-quarter), and announced at least $25 million of annualized cost reductions beginning in Q2. Guidance and outlook: Q2 funded loan volume expected ~ $1.65B (midpoint ~37% YoY growth) with revenue expected to grow ~15% sequentially due to a mix shift toward higher-margin HELOCs; adjusted EBITDA loss guided to roughly $12.5M–$14M for Q2 with management reaffirming adjusted EBITDA breakeven by end of Q3 2026, contingent on rate environment. Key risks: recent rate volatility tied to the Middle East conflict has pushed consumer rates higher (~5.75% to >6.5%), reducing conversion rates (especially refinances) and deferring the company’s previously-expected timing to reach $1B monthly funded volume. Management emphasizes optionality from HELOCs, AI-driven efficiency, and partnership-driven distribution as mitigants.