BETR · Better Home & Finance Holding Co
Price & Indicators
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Metrics snapshot
Useful current figures from the complete screener profile.
AI Brief
Q2 FY26 earnings call · Aug 10, 2026TL;DR. Better reported Q2 loan volume of $1.67B (+38% YoY) and net revenues of $54.7M (+28% YoY), but guided Q3 to lower loan volume of $1.375–$1.525B and a wider Adjusted EBITDA loss of $(18.0)–$(15.0)M amid an elevated-rate environment; founder Vishal Garg stepped down as CEO with board member Daniel Lewis named interim CEO, and the company raised its annualized cost-reduction target to exceed $45M by year-end.
- + Loan volume grew 38% YoY to $1.67B in Q2, exceeding the mid-point of prior guidance
- + Total net revenues grew 28% YoY to $54.7M in Q2
- + HELOC share of loan volume rose to 18% from 12% the prior quarter, a shift toward higher revenue-per-loan product
- + Q2 Adjusted EBITDA loss improved 39% YoY to $(14.0)M
- + Company raised annualized cost-reduction target to exceed $45M by year-end 2026, above the prior $25M target
- + Warehouse capacity expanded ~48% from year-end 2025 to ~$850M
- − Company guided Q3 Adjusted EBITDA loss to $(18.0)–$(15.0)M, a wider loss than the Q2 $(14.0)M print
- − Q3 loan volume guided to $1.375–$1.525B, implying sequential decline from Q2's $1.67B
- − Management expects elevated rate environment to persist over the medium term, pressuring mortgage application activity
- − Q2 GAAP net loss of $(30.6)M continued, with total expenses up YoY to $86.1M
- − Company deprioritized long, expensive enterprise integrations that have not yielded material results, with no partner launches yet in Q3
- − Founder Vishal Garg stepped down as CEO; Daniel Lewis named interim CEO with a permanent CEO search underway
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
Equibles Rating
blended score · not investment adviceBlended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.
Guidance & track record
Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.
Technicals
trend & momentum for long-term holders SellIllustrative technical + ownership context — a signal mix, not investment advice.
Key metrics
the company's own KPIs, from written earnings releases and filings| Metric | Latest | Period | YoY |
|---|---|---|---|
| Average Loan Amount | $291,208 | Three Months Ended June 30, 2026 filing | — |
| Better Real Estate Transaction Volume | $54M | Three Months Ended June 30, 2026 filing | — |
| Gain on Sale Margin | 3.09% | Three Months Ended June 30, 2026 filing | — |
| Insurance Coverage Written | $1.17B | Three Months Ended June 30, 2026 filing | — |
| Total Market Share | 0.3% | Three Months Ended June 30, 2026 filing | — |
| Adjusted EBITDA non-GAAP | $14M | Q2 2026 | — |
GAAP → non-GAAP reconciliationGAAP Net loss -30.59M
+63K Income tax (benefit)/expense
+2.97M Depreciation and amortization expense
+14.59M Stock-based compensation expense
+14K Interest and amortization on non-funding debt
+909K Restructuring, impairment, and other expenses
-1.07M Change in fair value of warrants and equity related liabilities
-872K Loss from discontinued operations
= Adjusted EBITDA -13.99M
|
|||
| D2C Loan Volume | 755M | Q2 2026 | — |
| HELOC Loan Volume | 294M | Q2 2026 | — |
| Loan Volume | 1.67B | Q2 2026 | — |
| Platform Loan Volume | 912M | Q2 2026 | — |
| Purchase Loan Volume | 824M | Q2 2026 | — |
| Refinance Loan Volume | 549M | Q2 2026 | — |
| Total Loans | 5,724 | Q2 2026 | — |
Figures exactly as the company stated them in writing · click a metric with a to chart its history · period links open the stating document · "filing" marks figures stated in the 10-K/10-Q · YoY needs an exactly comparable prior-year period
Versus peers
Mortgage Finance — same industry group| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
BETR
this stock
Better Home & Finance Holding Co
|
$194.36M | -63.8% | +52.0% | — | 17.6% |
|
RKT
Rocket Companies, Inc.
|
$34.46B | -39.6% | +31.2% | — | 4.3% |
|
FNMA
Federal National Mortgage Association Fannie Mae
|
$5.41B | -59.3% | -0.4% | 467.0 | 1.3% |
|
PFSI
PennyMac Financial Services, Inc.
|
$3.40B | -53.0% | +3.1% | 9.0 | 5.8% |
|
FMCC
Federal Home Loan Mortgage Corp
|
$2.70B | -60.8% | -2.7% | — | 1.6% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
At a glance
key data from every sectionPerformance
| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| BETR | +12.8% | -10.7% | -66.4% | +7.2% | -63.8% |
| SPY | -0.2% | -0.5% | +12.2% | +0.9% | +12.9% |
| vs SPY | +13.0% | -10.2% | -78.6% | +6.3% | -76.7% |
Capital returns
Dividends per share over the trailing 365 days by ex-date · buyback figures as last reported in SEC filings ("spent" derived as authorized − remaining; when several programs run concurrently, authorized is their combined total per the newest filing) · components shown separately — trailing-year buyback spend isn't tracked, so no combined shareholder yield is derived.