Business Wire·Nov 9, 2026, 4:06 PM ET

Better Home & Finance Holding Company Announces Third Quarter 2026 Results

BETR

Better Home & Finance Holding Company reported Q3 2026 loan volume of $1.40 billion, a 15% year-over-year increase within prior guidance.
Total net revenues grew 9% year-over-year to $45.1 million.
The company reported a net loss of $36.5 million, a 7% improvement compared to the $39.1 million loss in Q3 2025.
Adjusted EBITDA loss was $29.7 million, up 29% from Q3 2025, but excluding $12.8 million in proxy-related legal & one-time expenses, the adjusted loss would have been $16.8 million.
Platform loan volume reached $792 million, representing 57% of total loan volume, up from 50% in Q1 2026.
HELOC loan volume totaled $263 million, accounting for 19% of total volume, an increase from 12% in Q1 2026.
Vishal Garg returned to lead execution on "Better 2.0," citing prior declines in loan officer talk time & production hours under previous management.
The company has executed $3.5 million in annualized savings through delayering & AI implementation, with $30.4 million in total savings achieved toward a $64.2 million target.
A shareholder group led by Garg secured 52% voting power, resulting in the removal of five directors & the Interim CEO.
Better launched an AI-powered HELOC with a major partner & expanded its wholesale platform to 39 brokerages.
Q4 2026 adjusted EBITDA-basis operating expenses are guided between $45.0 million & $47.0 million.
The company ended Q3 2026 with $77.5 million in cash & cash equivalents & $12.9 million in restricted cash.
Birmingham Bank was classified as held for sale & discontinued operations in the first quarter of 2026.