Better Home & Finance Reports 28% Revenue Growth and $30.6 Million Net Loss in Q2 2026

Better Home & Finance Holding Company reported its financial results for the second quarter of 2026, revealing a total revenue of $54.7 million, a 28% increase from $42.7 million in the same period last year. The company's gain on loans, net, surged by 50% to $51.5 million, driven by increased loan volume across purchase, refinance, and home equity products. However, the company also reported a net loss of $30.6 million for the quarter, slightly improved from a loss of $36.3 million in the prior year. For the first half of 2026, total revenues reached $102.2 million, up 38% from $74.0 million in the first half of 2025, while the net loss widened to $100.9 million from $86.8 million.

In terms of operational metrics, Better Home & Finance saw a significant increase in loan volume, totaling $1.67 billion for the second quarter, compared to $1.21 billion in the same quarter of 2025. The company’s direct-to-consumer (D2C) loan volume was $755 million, while platform loan volume reached $912 million. The average loan amount decreased slightly to $291,208 from $298,952 year-over-year. The company’s market share also improved, rising to 0.3% from 0.2% in the previous year.

Strategically, Better Home & Finance is in the process of divesting its U.K. banking operations, specifically Birmingham Bank, which has been classified as held for sale. The company expects to complete this sale within the next 12 months, and the results from Birmingham Bank are reported as discontinued operations. The company recorded a write-down of $15.7 million related to this disposal group during the first half of 2026. Additionally, the company has been actively managing its capital structure, having raised approximately $66.1 million from a public offering in the second quarter.

The company’s total assets increased to $1.54 billion as of June 30, 2026, up from $1.51 billion at the end of 2025. Cash and cash equivalents also rose to $102.3 million, compared to $79.4 million at the end of the previous year. However, total liabilities increased to $1.48 billion, primarily due to higher warehouse lines of credit, which stood at $454.3 million, up from $411.9 million at the end of 2025. The company’s employee headcount has also grown, reflecting its expansion efforts.

Looking ahead, Better Home & Finance anticipates continued challenges in the mortgage market due to elevated interest rates and economic conditions. The company aims to leverage its proprietary technology platform, Tinman, to enhance operational efficiency and customer experience. Management remains focused on regaining compliance with Nasdaq's listing requirements and is optimistic about future growth opportunities as it navigates the current market landscape.