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8-K: Better Home & Finance Holding Company Announces Second Quarter 2024 Results and 1-for-50 Reverse Stock Split

8-K: Better Home & Finance Holding Company Announces Second Quarter 2024 Results and 1-for-50 Reverse Stock Split

8-K：Better Home & Finance Holding Company公佈2024年第二季度業績和每股1比50的反向
美股SEC公告 ·  2024/08/08 20:54

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Better Home & Finance reported strong Q2 2024 results with revenue increasing 41% to $31 million QoQ, while funded loan volume grew 45% to $962 million. The company posted a net loss of $42 million, improved from $51 million in Q1. Purchase loans comprised 83% of volume, while HELOC loans grew 76% QoQ to represent 9% of volume.The company announced plans to implement a 1-for-50 reverse stock split effective August 16, 2024. The split will reduce authorized Class A shares from 1.8 billion to 36 million, Class B from 700 million to 14 million, and Class C from 800 million to 16 million shares. Trading on split-adjusted basis will begin August 19 under existing symbols.Management highlighted positive early results from AI investments and commission-based compensation plans. The company ended Q2 with $507 million in cash, restricted cash, short-term investments and self-funded loans, while maintaining focus on achieving profitability through improved technology efficiency and cost reductions.
Better Home & Finance reported strong Q2 2024 results with revenue increasing 41% to $31 million QoQ, while funded loan volume grew 45% to $962 million. The company posted a net loss of $42 million, improved from $51 million in Q1. Purchase loans comprised 83% of volume, while HELOC loans grew 76% QoQ to represent 9% of volume.The company announced plans to implement a 1-for-50 reverse stock split effective August 16, 2024. The split will reduce authorized Class A shares from 1.8 billion to 36 million, Class B from 700 million to 14 million, and Class C from 800 million to 16 million shares. Trading on split-adjusted basis will begin August 19 under existing symbols.Management highlighted positive early results from AI investments and commission-based compensation plans. The company ended Q2 with $507 million in cash, restricted cash, short-term investments and self-funded loans, while maintaining focus on achieving profitability through improved technology efficiency and cost reductions.
更好的家庭與金融公司報告了2024年第二季度的強勁業績，營業收入環比增長41%，達到3100萬美元，同時資助貸款成交量環比增長45%，達到96200萬美元。該公司公佈的淨虧損爲4200萬美元，相較於第一季度的5100萬美元有所改善。購房貸款佔成交量的83%，而家庭淨值信用貸款（HELOC）環比增長76%，佔成交量的9%。該公司宣佈計劃在2024年8月16日實施1比50的反向股票拆分。拆分後，A類股份的授權將從18億減少至3600萬，B類從70000萬減少至1400萬，C類從80000萬減少至1600萬股。經調整後的交易將在8月19日按照現有符號開始。管理層強調了人工智能投資和佣金激勵計劃的早期積極結果。該公司在第二季度結束時擁有50700萬美元的現金、受限現金、短期投資和自籌貸款，同時保持關注通過提升科技效率和降低成本來實現盈利。
更好的家庭與金融公司報告了2024年第二季度的強勁業績，營業收入環比增長41%，達到3100萬美元，同時資助貸款成交量環比增長45%，達到96200萬美元。該公司公佈的淨虧損爲4200萬美元，相較於第一季度的5100萬美元有所改善。購房貸款佔成交量的83%，而家庭淨值信用貸款（HELOC）環比增長76%，佔成交量的9%。該公司宣佈計劃在2024年8月16日實施1比50的反向股票拆分。拆分後，A類股份的授權將從18億減少至3600萬，B類從70000萬減少至1400萬，C類從80000萬減少至1600萬股。經調整後的交易將在8月19日按照現有符號開始。管理層強調了人工智能投資和佣金激勵計劃的早期積極結果。該公司在第二季度結束時擁有50700萬美元的現金、受限現金、短期投資和自籌貸款，同時保持關注通過提升科技效率和降低成本來實現盈利。
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