On August 7, 2024, Better Home & Finance Holding Company, a Delaware-incorporated company, reported its financial results for the second quarter ending June 30, 2024. The company, which trades on the Nasdaq Stock Market under the symbols BETR for its Class A common stock and BETRW for its warrants, announced a net loss of approximately $42 million, an improvement from the $51 million loss in the previous quarter. Revenue increased by 41% to approximately $31 million, and the funded loan volume grew by 45%. The company also disclosed a reverse stock split at a ratio of one-for-50, set to take effect at 6:00 p.m. New York time on August 16, 2024, with trading on a split-adjusted basis beginning on August 19, 2024. The reverse stock split was approved by stockholders at...Show More

On August 7, 2024, Better Home & Finance Holding Company, a Delaware-incorporated company, reported its financial results for the second quarter ending June 30, 2024. The company, which trades on the Nasdaq Stock Market under the symbols BETR for its Class A common stock and BETRW for its warrants, announced a net loss of approximately $42 million, an improvement from the $51 million loss in the previous quarter. Revenue increased by 41% to approximately $31 million, and the funded loan volume grew by 45%. The company also disclosed a reverse stock split at a ratio of one-for-50, set to take effect at 6:00 p.m. New York time on August 16, 2024, with trading on a split-adjusted basis beginning on August 19, 2024. The reverse stock split was approved by stockholders at the annual meeting on June 4, 2024, and is aimed at reducing the number of authorized shares of Class A, B, and C common stock. The company's CEO, Vishal Garg, expressed satisfaction with the growth and progress towards profitability despite a challenging macro environment. CFO Kevin Ryan highlighted the operating leverage demonstrated in the quarter, with revenue growth outpacing expense growth. The company's technology investments and corporate cost reductions are expected to further narrow losses as growth continues.