Better 2.0 Publishes Weekly Report Card, Week 2: Sales Efficiency and Cost Cutting

The savings target remains approximately $64.2 million once all initiatives are fully implemented.

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Actions to date expected to deliver $22.56 million in annualized savings toward the approximately $64.2 million target

NEW YORK--(BUSINESS WIRE)-- Better Home & Finance Holding Company (NASDAQ: BETR) today released Week 2 of its Better 2.0 Weekly Report Card, a public record of the company’s turnaround published every Tuesday.

Since October 13, Better has taken additional actions expected to generate $9.36 million in annualized savings. Combined with the ~$13.2 million in annualized reductions initiated in the first week, Better expects these actions to deliver $22.56 million in annualized savings as it works toward a target of approximately $64.2 million once all initiatives are fully implemented.

“Every week, Better gets leaner and faster. In two weeks we’ve set in motion actions we expect to deliver $22.56 million in annualized expense reductions, and we expect to capture the rest of our target as we keep executing. The market hasn’t caught up to what we’re building. We intend to keep proving it, one week at a time,” said Vishal Garg at Better.

Priority	Progress since October 13	Next milestone
Marketing and sales efficiency	Monitor savings expected from $13.2M in annualized reductions	Continue to track and optimize
AI sales workflows	$250k of actions complete within two weeks; additional $750k monthly in works	Actions expected to deliver $3M annualized; progressing toward $12M annualized goal
Corporate cost reductions	$2.25M in reductions within three weeks, $27M annualized	Actions expected to deliver $3M annualized initiated; progressing toward $27M annualized goal
Professional services	$1M in reductions within four weeks	Actions expected to deliver $3.36M annualized initiated; progressing toward $12M annualized goal
Tinman and HELOC expansion	Finalize revised launch milestones (four of five large fintech partners viable). 33 Mortgage brokers signed onto wholesale platform. Prior broker portal strategy pivoted to API driven pricing and eligibility launching in November driving demand from broker community.	Executing on launch one partner, legal agreement in negotiation. Making progress with three other partners. 10+ brokers driving volume and remainder being worked with to make Better Wholesale first choice
Share repurchase program	837,718 shares, representing 4.4% of the total shares outstanding, and 6.2% of the Class A shares, were repurchased by Better in the last week as of Monday, October 19.	Continue share repurchases in conjunction with cost savings being realized

Better will continue to publish its management scorecard weekly until it achieves Adjusted EBITDA breakeven, reporting completed actions, outstanding commitments and changes to timelines. Next week’s scorecard will focus on operations efficiency and cost cutting.

About Better

Better Home & Finance Holding Company (NASDAQ: BETR) is the first AI-native mortgage and home equity finance platform, and first fintech to fund more than $110 billion in loan volume. Since 2016, Better has leveraged its industry-leading AI platform, Tinman®, to achieve a singular mission of making homeownership cheaper, faster, and easier for all Americans. Tinman® allows customers to see their rate options in seconds, get pre-approved in minutes, lock in rates, and close their loan in as little as three weeks. In addition, Betsy®, leveraging Tinman® MCP, the first AI loan agent built exclusively for the mortgage industry, is revolutionizing the homebuying journey by delivering timely application status updates to consumers, answering questions, and moving their loan application along 24/7/365. Better’s mortgage offerings include GSE-conforming, FHA, VA loans, jumbo, and Non-QM mortgage loans as well as home equity loans. Better serves customers in all 50 US states.

For more information, follow @tinmanAI on X and @betterdotcom on Instagram and TikTok.

Forward-looking Statements

This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements in this press release that are not historical fact should be considered forward-looking statements, including, without limitation, statements and expectations regarding financial results for the third quarter of 2026, including Adjusted EBITDA, Loan Volume and Total Net Revenues, cost reduction initiatives, the planned sale of the Company’s UK bank subsidiary, Birmingham Bank, and the leadership transition and related management changes. In some cases, you can identify forward-looking statements by terminology such as “believe,” “may,” “will,” “estimate,” “potential,” “continue,” “anticipate,” “intend,” “expect,” “could,” “would,” “project,” “plan,” “target,” or the negatives of these terms or variations of them or similar terminology. Forward-looking statements are inherently subject to risks and uncertainties which could cause actual future events to differ materially from those expressed or implied by the forward-looking statements in this communication. These risks and uncertainties include those risks discussed in the section entitled “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025, as any such factors may be updated from time to time in the Company’s other filings with the SEC, which is available, free of charge, at the SEC’s website at www.sec.gov. New risks and uncertainties arise from time to time, and it is impossible for Better to predict these events or how they may affect us. You are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Better undertakes no obligation, except as required by law, to update or revise the forward-looking statements, whether as a result of new information, changes in expectations, future events or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20261020833354/en/

Media contact
Better Home and Finance
comms@better.com

Source: Better Home & Finance Holding Company

Key Terms

heloc financial

A HELOC (home equity line of credit) is a revolving loan that lets a homeowner borrow against the value built up in their house, similar to a credit card but secured by the property. It matters to investors because HELOCs affect banks’ lending volumes, interest income and credit risk, and high consumer use or defaults can signal stress in the housing market and consumer spending, influencing related stocks and bond valuations.

api technical

An API, or Application Programming Interface, is a set of rules that allows different software programs to communicate and work together smoothly, much like a waiter translating your order into the kitchen and then bringing your meal back. For investors, APIs are important because they enable real-time access to financial data, trading systems, and other digital services, making it easier to make informed decisions quickly and efficiently.

adjusted ebitda financial

Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.