Better Home & Finance Holding Company (NASDAQ: BETR) has reported its financial results for the third quarter of 2025, showcasing significant growth and strategic developments. Here are the key highlights from the latest report:
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Revenue for Q3 2025 stood at approximately $44 million, representing a notable increase from $29 million in Q3 2024 and remaining consistent with the previous quarter, Q2 2025.
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The company reported a net loss of approximately $39 million, a considerable improvement from the loss of $54 million in Q3 2024, albeit an increase from the previous quarter's loss of $36 million.
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Adjusted EBITDA loss for the quarter was approximately $25 million, demonstrating a substantial improvement from the loss of $39 million in Q3 2024 and a slight increase from the previous quarter's loss of $27 million.
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Total funded loan volume reached approximately $1.2 billion, compared to $1.0 billion in Q3 2024, and remained steady with the previous quarter's figure of $1.2 billion. Excluding funded loan volume from a discontinued partnership in Q3 2024, funded loan volume grew by an impressive 56% year over year compared to the same quarter in 2024.
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The company facilitated approximately 4,086 total loans during the quarter, marking an increase from 3,443 in Q3 2024 and 4,032 in Q2 2025.
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Purchase funded loan volume accounted for $774 million, constituting 64% of the total funded loan volume, while HELOC funded loan volume totaled $253 million, representing 21% of the total. Refinance funded loan volume amounted to $183 million, making up 15% of the total funded loan volume.
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Year-over-year funded loan volume growth was driven by increases in home equity products, which experienced a 52% growth, and refinance loans, which saw a 41% growth. Purchase loan volume also grew by 5%.
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D2C loan volume comprised 60% of funded loan volume, with the Tinman® AI platform making up the remaining 40% of the volume.
Furthermore, Better Home & Finance Holding Company announced its successful execution of two significant strategic partnerships during the third quarter, with an additional partnership subsequent to the quarter's end. The company anticipates achieving a $500 million monthly run rate in total funded loan volume in Q4 2025, driven by strong early performance from new strategic partnerships.
Additionally, the company is in discussions with potential strategic partners, including top U.S. home improvement lenders, loan servicers, personal lenders, and a mid-size bank, which collectively represent potential access to an additional ten million U.S. homeowners for marketing mortgage and home equity products.
The quarter also saw the implementation of AI-driven heloc underwriting for small business and self-employed borrowers, demonstrating Better's commitment to making home finance accessible to more American families. The company also reported increased productivity resulting from AI investments and the continued expansion of its AI platform, Tinman®, which served a total of approximately 1,148 families equating to approximately $483 million of funded loan volume.
Following these announcements, the company's shares moved -6.76%, and are now trading at a price of $59.16. For the full picture, make sure to review Better Home & Finance's 8-K report.
