On May 13, 2024, Better Home & Finance Holding Company, also known as Better, filed a current report on Form 8-K with the SEC, announcing its financial results for the first quarter ended March 31, 2024. The Delaware-incorporated company, listed on the Nasdaq with the trading symbols BETR for its Class A common stock and BETRW for its warrants, reported a strong quarter with a 25% increase in funded loan volume and a 26% increase in revenue compared to the previous quarter. Despite these gains, the company posted a net loss of $51 million, consistent with the loss reported in the previous quarter. The company ended the quarter with $509 million in cash, restricted cash, and short-term investments. Better emphasized its strategic investments in its proprietary technology...Show More

On May 13, 2024, Better Home & Finance Holding Company, also known as Better, filed a current report on Form 8-K with the SEC, announcing its financial results for the first quarter ended March 31, 2024. The Delaware-incorporated company, listed on the Nasdaq with the trading symbols BETR for its Class A common stock and BETRW for its warrants, reported a strong quarter with a 25% increase in funded loan volume and a 26% increase in revenue compared to the previous quarter. Despite these gains, the company posted a net loss of $51 million, consistent with the loss reported in the previous quarter. The company ended the quarter with $509 million in cash, restricted cash, and short-term investments. Better emphasized its strategic investments in its proprietary technology platform, Tinman™, to improve mortgage fulfillment efficiency and its focus on managing towards profitability through improved technology efficiency and corporate cost reductions. The company's CEO, Vishal Garg, expressed optimism about the growth opportunities in the home equity market and the demand from new homebuyers. The report also highlighted the launch of Better Home Equity Loan and the hiring of mortgage industry veteran Chad Smith as President and COO of Better Mortgage Corporation. The financial data presented in the report is preliminary and subject to revision upon filing the company's Quarterly Report on Form 10-Q with the SEC.