Better Home & Finance Holding Company Announces Third Quarter 2026 Results

NEW YORK--(BUSINESS WIRE)--Nov 9, 2026--

Better Home & Finance Holding Company (NASDAQ: BETR; BETRW), the AI-native mortgage and home equity finance company, today announced results for the third quarter ended September 30, 2026.

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“I’m excited to be back and executing on our vision for Better 2.0,” said Vishal Garg, Founder and Head of Product, Platform and Innovation at Better. "From 2019 to 2021, Better was one of the fastest-growing companies in mortgage because we moved faster and let our AI-native platform do the work. During my absence, under Mr. Lewis and the prior Board, we lacked that edge. Loan officer talk time fell 29%, production hours fell 25%, and key partnership launches stalled, weighing on results. Better 2.0 will follow our playbook that works: fewer layers, more AI, every number in public.”

“When I came back we assessed the current rate environment and under this challenging backdrop our priorities became clear: stronger execution, higher productivity, and lower costs,” Garg continued.

“Since my return, we have executed $3.5 million in annualized savings from delayering our management and corporate structure, with AI agents and dashboards. We intend to scale without rebuilding those management layers.

Early results are encouraging. Following the introduction of AI lead routing, weekend loan locks doubled from October 24th to the 31st. Our focus is on turning these improvements into more funded loans, lower costs, and sustainable profitability,” Garg added.

Third Quarter 2026 Financial Highlights

Following the classification of Birmingham Bank as held for sale and discontinued operations in the first quarter of 2026, prior-period results have been reclassified to conform to the current-period presentation.

GAAP Results

Key Operating Metrics and Non-GAAP Financial Measures

"We delivered loan volume within our guidance range despite a challenging rate environment, with platform channels contributing 57% of volume and HELOCs representing 19%,” said Loveen Advani, Chief Financial Officer of Better.

"With the proxy contest behind us, we have renewed our focus on profitable growth and operating efficiency. We are reducing fixed costs and using AI to improve productivity, with a goal of scaling volume without rebuilding overhead. Reaching sustainable Adjusted EBITDA breakeven remains our top financial priority.” Advani continued.

Guidance:

Q4 2026 Adjusted EBITDA-basis Operating Expenses: $45.0 million to $47.0 million

A reconciliation of Adjusted EBITDA-basis Operating Expenses to Net Loss-basis Operating Expenses on a forward-looking basis cannot be provided without unreasonable efforts, as the Company is unable to provide reconciling information with respect to benefit for income taxes, stock-based compensation, changes in fair value of warrant liabilities, and goodwill impairment, all of which are adjustments to Adjusted EBITDA.

Third Quarter 2026 Operational Highlights

Subsequent Events in Q4 2026

Additional Information

Additional details on Better's financial results for the three and nine months ended September 30, 2026 can be found in the Company's Form 10-Q, which will be filed with the SEC. An investor presentation is available in the investor relations section of the Company's website at investors.better.com.

Webcast Details

Event title: Better Home & Finance Holding Company 2026 Third Quarter Results
Event date: November 9, 2026, 4:30 PM Eastern Time
Registration link: https://app.webinar.net/r1XV4lp4Kxz

About Better

Better Home & Finance Holding Company (NASDAQ: BETR) is the first AI-native mortgage and home equity finance platform, and first fintech to fund more than $110 billion in loan volume. Since 2016, Better has leveraged its industry-leading AI platform, Tinman®, to achieve a singular mission of making homeownership cheaper, faster, and easier for all Americans. Tinman® allows customers to see their rate options in seconds, get pre-approved in minutes, lock in rates, and close their loan in as little as three weeks. In addition, Betsy®, leveraging Tinman® MCP, the first AI loan agent built exclusively for the mortgage industry, is revolutionizing the homebuying journey by delivering timely application status updates to consumers, answering questions, and moving their loan application along 24/7/365. Better’s mortgage offerings include GSE-conforming, FHA, VA, jumbo, and Non-QM mortgage loans as well as home equity loans. Better serves customers in all 50 US states.

For more information, follow @tinmanAI on X and @betterdotcom on Instagram and TikTok.

Forward-looking Statements

This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements in this press release that are not historical fact should be considered forward-looking statements, including, without limitation, statements and expectations regarding financial results for the fourth quarter of 2026, including Adjusted EBITDA-basis Operating Expenses, cost reduction initiatives, the planned sale of the Company’s UK bank subsidiary, Birmingham Bank, and the leadership transition and related management changes. In some cases, you can identify forward-looking statements by terminology such as “believe,” “may,” “will,” “estimate,” “potential,” “continue,” “anticipate,” “intend,” “expect,” “could,” “would,” “project,” “plan,” “target,” or the negatives of these terms or variations of them or similar terminology. Forward-looking statements are inherently subject to risks and uncertainties which could cause actual future events to differ materially from those expressed or implied by the forward-looking statements in this communication. These risks and uncertainties include those risks discussed in the section entitled “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025 and in the Company’s Quarterly Reports on Form 10-Q for the quarters ended March 31, 2026, June 30, 2026 and September 30, 2026, as any such factors may be updated from time to time in the Company’s other filings with the SEC, which is available, free of charge, at the SEC’s website at www.sec.gov. New risks and uncertainties arise from time to time, and it is impossible for Better to predict these events or how they may affect us. You are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Better undertakes no obligation, except as required by law, to update or revise the forward-looking statements, whether as a result of new information, changes in expectations, future events or otherwise.

Selected Financial Data, Non-GAAP Measures and Definitions

The following tables present selected financial data, reconciliations of non-GAAP financial measures to the most directly comparable GAAP measures, and definitions of key metrics.

Key Metrics

Use of Non-GAAP Financial Measures

We include certain financial measures not presented in accordance with generally accepted accounting principles (“GAAP”) including Adjusted EBITDA.

We calculate Adjusted EBITDA as net income (loss) adjusted for the impact of stock-based compensation expense, change in the fair value of warrants, equity-related liabilities, transaction expenses, loss from discontinued operations, and other non-recurring or non-core operational expenses, as well as interest and amortization on non-funding debt (which includes interest on the Convertible Note (as defined in our Form 10-K), depreciation and amortization expense, and income tax (benefit)/expense).

This non-GAAP financial measure should not be considered in isolation and is not intended to be a substitute for any GAAP financial measure. This non-GAAP measure provides supplemental information that we believe helps investors better understand our business, our business model and how we analyze our performance. We also believe this non-GAAP financial measure improves investors’ and analysts’ ability to compare our results with those of our competitors and other similarly situated companies, which commonly disclose similar performance measures.

However, our calculation of Adjusted EBITDA may not be comparable to similarly titled performance measures presented by other companies. Further, although we use this non-GAAP measure to assess the financial performance of our business, this measure excludes certain substantial costs related to our business, and investors are cautioned not to use such measures as a substitute for financial results prepared according to GAAP. Non-GAAP financial measures have limitations in their usefulness to investors because they have no standardized meaning prescribed by GAAP and are not prepared under any comprehensive set of accounting rules or principles. As a result, non-GAAP financial measures should be viewed as supplementing, and not as an alternative or substitute for, our financial results prepared and presented in accordance with GAAP.

Condensed Consolidated Balance Sheets

Condensed Consolidated Statements of Operations

Condensed Consolidated Statements of Cash Flows

Reconciliation of Non-GAAP Metrics: Adjusted EBITDA

 

Better Home & Finance Holding Company Announces Third Quarter 2026 Results

WASHINGTON (AP) — The Supreme Court cleared the way Monday for the Trump administration to resume border wall construction in the Big Bend region of Texas, a blow to bipartisan opponents who had argued the project is a waste of money that threatens the unique landscape.

The border wall is a signature project of President Donald Trump, who has long vowed to build a wall from the Pacific Ocean to the Gulf of Mexico.

Republicans in Congress last summer funded the project with $46 billion, and Customs and Border Protection has been rapidly erecting 12 miles of border barriers a week across the entire border.

The government has pushed forward by issuing sweeping waivers to bypass regulations. Those rules are aimed at protecting the environment, but have historically slowed down major construction projects.

In Texas’s Big Bend region, bipartisan opposition has rallied to fight back against the project, which would include 30-foot-tall steel walls in some areas as well as vehicle barriers and new roads.

They’ve argued that the barriers are a waste of money that threaten the local economy and lifestyle in an area of historically low illegal immigration. They say the job could be better done using only surveillance technology like drones.

A judge in Texas sided with opponents, finding that Congress likely had not clearly authorized such broad waivers for an area with the southern border’s lowest rate of migrant apprehensions. She ordered an immediate stop to all construction-related activity in the area, which includes Big Bend National Park as well as land up and down river in state and private hands.

The Trump administration filed an emergency appeal, saying there are illegal border crossings and drug seizures in Big Bend. More traffic could also be funneled there if there’s a gap in the wall, federal attorneys argued.

The Supreme Court agreed that the law sharply limits judges’ powers to intervene when the federal government decides speedy border barrier construction is necessary. The majority paused the lower court decision as the case plays out. Justice Ketanji Brown Jackson dissented.

The Center for Biological Diversity sued over the construction, along with Friends of the Ruidosa Church and a river guide in the Big Bend area. Laiken Jordahl, national public lands advocate at the Center for Biological Diversity, said it was the first time the government had waived a broad set of environmental laws inside a national park.

“This horrific decision clears the way for contractors to bulldoze pristine desert and dynamite canyon walls before the courts have even decided whether this destruction is legal. They’re signing off on the permanent destruction of the wildest place in Texas, and the theft of a great American river from all of us," Jordahl said.

Other opponents include Republican Sen. John Cornyn of Texas, who wrote an op-ed arguing against the project published Monday in the San Antonio Express-News.

FILE - A portion of border wall is under construction in the Big Bend region, Sept. 23, 2026, near Sierra Blanca, Texas. (AP Photo/John Locher, File)