Better Home & Finance Holding Company reported higher revenue but continued losses for the quarter ended June 30, 2026. From continuing operations, total net revenues rose to $54.7 million from $42.7 million a year earlier, driven mainly by higher gain on sale of loans.
The company recorded a quarterly net loss of $30.6 million compared with $36.3 million in the prior-year quarter. For the first six months of 2026, net loss was $100.9 million. Discontinued operations related to Birmingham Bank produced a six‑month net loss of $20.1 million, including a $15.7 million write‑down of the disposal group, partly offset by a $2.4 million write‑up.
Cash and cash equivalents increased to $102.3 million and total cash, cash equivalents and restricted cash to $111.9 million. Warehouse borrowings rose to $454.3 million on $511.1 million of mortgage loans held for sale at fair value. Customer deposits at Birmingham Bank were $746.0 million, and stockholders’ equity increased to $57.9 million, helped by equity issuances and warrant exercises, despite an accumulated deficit of $2.18 billion.
Better Home & Finance Holding Company submitted a notification of late filing for its Quarterly Report on Form 10-Q for the three months ended June 30, 2026. The company states it needs additional time to complete quarter-end closing procedures and indicates the report could not be filed on time without unreasonable effort or expense.
The company expects to file the Form 10-Q with the SEC as soon as practicable and plans to do so on or before the five-calendar-day extension period permitted under Rule 12b-25 for a Form 10-Q.
Better Home & Finance Holding Co officer and director Daniel Seth Lewis, serving as Interim CEO, reports direct ownership of 520,490 shares of Class A Common Stock. The entry dated 2026-07-27 is recorded as a holding, with no buy or sell transactions reported.
Better Home & Finance Holding Company reported second quarter 2026 Loan Volume of $1.67 billion, up 38% year over year, and Total Net Revenues of $54.7 million, up 28%. Platform Loan Volume reached $912 million, or 55% of Loan Volume, with 5,724 total loans completed. By product, purchase loans were $824 million (49% of volume), refinancings $549 million (33%), and HELOCs $294 million (18%).
The company recorded a Q2 2026 net loss of $30.6 million versus a loss of $36.3 million a year earlier, and an Adjusted EBITDA loss of $14.0 million versus $22.9 million, including a $6.5 million benefit from a TRID reserve release. Cash and cash equivalents were $102.3 million with restricted cash of $9.6 million. Results reflect the reclassification of the U.K.-based bank to discontinued operations.
Operationally, Home Equity Loan Volume grew 45% quarter over quarter and platform loan volume increased 11%. Daniel Lewis, a board member, was appointed Interim CEO effective August 3, 2026, while founder Vishal Garg remains on the board. The company increased targeted annualized cost reductions to exceed $45 million by year-end 2026 and guided Q3 2026 Loan Volume of $1.375–$1.525 billion, Total Net Revenues of $49.0–$52.0 million, and Adjusted EBITDA of $(18.0)–$(15.0) million.
Better Home & Finance Holding Company appointed Board member Daniel Lewis as Interim Chief Executive Officer, effective August 3, 2026, as founder Vishal Garg stepped down from the CEO role but remains on the Board to support the transition. The Board expects the overwhelming majority of Lewis’s compensation to be tied to shareholder returns and long-term operating performance.
The company is sharpening its strategy around a platform model where partners handle customer acquisition while Better focuses on manufacturing mortgages efficiently on its Tinman® AI platform. Management expects annualized cost reductions to exceed $45 million by year-end, above the previously announced $25 million target, and continues to pursue a sale of its UK bank subsidiary, Birmingham Bank. The second-quarter 2026 earnings release and investor call have been moved to after market close on August 6, 2026.
Preliminary second-quarter 2026 results include Funded Loan Volume of $1.67 billion, up 38% year over year, revenue of $54.7 million, up 28% year over year, a net loss of $30.6 million, and Adjusted EBITDA of $(13,988) thousand, which includes a $6.5 million benefit from a TRID reserve release. These figures are estimates and remain subject to completion of normal closing procedures.
Better Home & Finance Holding Company amended its broker agreement with Intuit Credit Karma on July 28, 2026. Under the expanded partnership, Better will offer Home Equity Line of Credit (HELOC) products to Intuit Credit Karma’s U.S. consumer base of 140 million users under the “Credit Karma Home Loans powered by Better” brand.
These HELOCs will be offered alongside the Rate Term Refinance and Cash out Refinance products already available through the relationship. Better states that, once launched, HELOC offerings are expected to contribute meaningfully to its loan volume and revenue growth over the following several quarters, while noting that these expectations are forward-looking and subject to risks described in its SEC filings.
Better Home & Finance Holding Company reported that on July 27, 2026, director David Barse resigned from its board, effective immediately. The company states that his decision was not due to any disagreements regarding operations, policies, or practices.
On the same date, the board elected Daniel Lewis as a director, effective immediately, to serve until the 2027 annual meeting of stockholders and until a successor is duly elected and qualified or earlier departure. Committee assignments for Lewis have not yet been determined.
Lewis will participate in the standard compensation program for non-employee directors described in the April 30, 2026 proxy statement and is expected to enter into the company’s standard indemnification agreement. The company reports no family relationships or related-party transactions involving Lewis requiring disclosure.
BlackRock, Inc. reports beneficial ownership of Class A stock of Better Home & Finance Holding Co. BlackRock and certain of its business units beneficially own 679,789 shares of Class A stock, representing 5.2% of the class as of the reported date.
BlackRock has sole voting power over 670,887 shares and sole dispositive power over 679,789 shares, with no shared voting or dispositive power. Various underlying clients have rights to dividends or sale proceeds, but no such person has more than five percent of the total outstanding common shares.
MENON BHASKAR reported acquisition or exercise transactions in this Form 4 filing.
Better Home & Finance Holding Co director Bhaskar Menon received a grant of 10,113 restricted stock units (RSUs) for Class A shares on 2026-07-20. Each RSU represents a contingent right to one share of Class A common stock and will vest on the business day immediately preceding the company’s next annual meeting of stockholders. Following this grant, he holds 10,113 RSUs directly.
Barse David Michael reported acquisition or exercise transactions in this Form 4 filing.
Better Home & Finance Holding Co director David Michael Barse received a grant of 6,851 Restricted Stock Units (Class A) on 2026-07-20 at a transaction price of 0.0000 per unit. Each unit represents a contingent right to one share of Class A common stock and will vest on the business day immediately preceding the next annual meeting of stockholders, leaving him with 6,851 RSUs held directly after the grant.