Better Home reports Q4 revenue $9M, net loss $59M; FY23 loss $534M; guides Q1 volume $600-650M

Better Home & Finance Holding Co

Q4 2023 GAAP revenue $9M, net loss $59M; FY23 revenue $77M, net loss $534M.
Funded loan volume Q4 $527M (1,633 loans); FY23 $3B (8,569 loans); 91% purchase loans.
Adjusted EBITDA loss Q4 $26M, FY23 $163M; improvements of 53% q/q and 69% y/y.
Pivoted to commission-based loan officers; launched One Day HELOC with 470% volume growth from Q1 to Q4 2023.
Ended 2023 with $554M cash; expects Q1 2024 funded volume of $600-650M with cost discipline.

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Better Home & Finance Holding Co reported the full year ended December 31, 2023 results: revenue Revenue of $77 million, net income Net loss of $534 million. Guidance initiated.

Period: the full year ended December 31, 2023
Revenue: Revenue of $77 million
Net income: Net loss of $534 million
Guidance: initiated
Result: preliminary results

Exact text from the filing

Full Year 2023 Financial Highlights: GAAP Results: • Revenue of $77 million • Net loss of $534 million

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Better Home & Finance Holding Co reported the fourth quarter ended December 31, 2023 results: revenue Revenue of $9 million, net income Net loss of $59 million. Guidance initiated.

Period: the fourth quarter ended December 31, 2023
Revenue: Revenue of $9 million
Net income: Net loss of $59 million
Guidance: initiated
Result: preliminary results

Exact text from the filing

Fourth Quarter 2023 Financial Highlights: GAAP Results: • Revenue of $9 million • Net loss of $59 million

View on SEC.gov

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Source: SEC EDGAR

accession 0001628280-24-013454

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