Better Home & Finance Holding Co (NASDAQ:BETR) reported third-quarter financial results before the market open on Thursday. Here’s a rundown of the report.
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What To Know: Better Home reported third-quarter revenue of $43.87 million, missing analyst estimates of $48.83 million, according to Benzinga Pro. The AI-native home finance company reported a third-quarter loss of $2.56 per share, missing estimates for a loss of $2.31 per share.
“This was a pivotal quarter for Better as we set the stage for our next chapter of growth. Our three new strategic partnerships validate the strength of our platform and technology and are expected to meaningfully expand growth and reinforce our path to profitability, with Adjusted EBITDA breakeven anticipated by the end of Q3 2026,” said Vishal Garg, founder and CEO of Better Home.
Funded loan volume in the third quarter grew 17% year-over-year. The company said it anticipates higher funded loan volume in the fourth quarter compared to the same quarter in 2024, expecting to achieve a $500 million monthly run rate in total funded loan volume.
“By the end of the next six months, we expect to achieve a monthly run rate of $1 billion in total funded loan volume,” Garg said.
Better Home has been in the spotlight since hedge fund manager Eric Jackson announced a long position, calling the company a potential "350-bagger" over the coming years. Jackson became popular among retail investors after sparking a rally in shares of Opendoor Technologies Inc (NASDAQ:OPEN) earlier this year, calling the stock a potential "100-bagger."
The company is currently discussing the quarter on an earnings call that started at 8:30 a.m. ET.
BETR Price Action: Better Home shares were down 9.99% at $53.25 at the time of publication on Thursday, according to Benzinga Pro.
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