What is the market's earnings forecast for Better Home next quarter?

What is the revenue and EPS growth rate for Better Home year over year?

What factors drove the changes in Better Home's revenue and profit?

What is Better Home's latest dividend and current dividend yield?

What does Better Home do and what are its main business segments?

What were the key takeaways from Better Home’s earnings call?

What is Better Home's gross profit margin?

What were the key takeaways from Better Home's earnings call?

- **Revenue Surge**: Q3 2025 revenue up 51% YoY to $44M, funded loan volume $1.2B (17% YoY growth). Home equity origination up 52% YoY.
- **AI Efficiency Breakthrough**: Contribution margin per loan $1,772 (64% QoQ), Betsy AI conversion rate +84% to 6.1%.
- **Partnership Explosion**: 3 new partnerships targeting $1B+ monthly loan volume by mid-2026, 40% revenue from Tinman AI platform.
- **Profit Path**: Adjusted EBITDA loss $25M (35% YoY improvement), targeting breakeven by Q3 2026.
- **Market Opportunity**: $22T tappable home equity vs. $1T annual origination, Tinman platform costs 50% of industry average.

**【CEO Summary Section】**
- **Revenue Growth**: Q3 2025 revenue reached $44 million, up 51% YoY, driven by 17% YoY increase in funded loan volume to $1.2 billion. Home equity volume grew 52%, refinance 41%, and purchase 5% YoY.
- **AI-Driven Efficiency**: Contribution margin per funded loan rose to $1,772 (64% QoQ increase), with Betsy AI improving lead-to-lock conversion rate by 84% (3.3% to 6.1%).
- **Partnerships Expansion**: Announced 3 new partnerships, including a top 5 U.S. personal financial services platform (50M+ customers), a top 5 non-bank mortgage originator, and Finance of America (reverse mortgage lender). These partnerships aim to scale to $1 billion+ monthly loan volume by mid-2026.
- **Tinman AI Platform**: Powers 40% of total revenue through local loan officer teams, with cost-to-fund at ~$3,000 vs. industry average of $6,000. Platform fees and profit-sharing drive SaaS-like margins.
- **Path to Profitability**: Target adjusted EBITDA breakeven by Q3 2026, with Q3 2025 loss of $25 million (down from $27 million Q2 2025 and $39 million Q3 2024). Cost reductions and partnership scaling will drive margin improvement.

**【CFO Financial Commentary】**
- **Financial Highlights**: GAAP net income of $420 million, Non-GAAP EPS of $1.08 (exceeded expectations). Adjusted EBITDA loss of $25 million, down 35% YoY.
- **Balance Sheet**: $226 million in cash and short-term investments, $575 million warehouse credit capacity. Rightsized capital structure by retiring $530 million convertible notes.

**【Q&A Key Highlights】**
- **Partnership Ramp**: Top 5 financial services partner expects to scale from 12 bps to multiples of industry average through algorithmic customer targeting. Mortgage originator partner to roll out Tinman across 300+ loan officers. Reverse mortgage lender to launch senior-focused HELOCs.
- **CAC Trends**: D2C CAC remains high due to long consumer decision cycles (1M+ preapprovals pending), but AI-driven conversion improvements reduce incremental CAC. Partnership channels have 0 upfront CAC.
- **Industry Outlook**: Home equity market underpenetrated ($22T tappable equity vs. $1T annual origination). Recession risk may stabilize purchase volume while driving home equity demand. Tinman platform positions Better to capture share regardless of rate cycle.

Better Home & Finance Holding Company (BETR) Q3 2025 Earnings Call Transcript

Revenue

Sales and Services Revenue

Financing Services Revenue

Other Revenue

Cost of Revenue

Cost of Goods and Services

Cost of Financing Services

Other Cost

Gross Profit

Other Operating Income

Operating Expenses

Selling, General and Administrative Expenses

Selling and Marketing Expenses

General and Administrative Expenses

Research and Development Expenses

Loss on Bad Debts

Loss on Impairment of Other Assets

Loss on Disposal of Assets

Other Operating Expenses

Operating Income

Non-Operating Income (Loss)

Income (Loss) from Affiliates

Income (Loss) from Associates

Income (Loss) from Joint ventures

Gain (Loss) on Other Investment

Gain (Loss) on Change in Fair Value

Gain (Loss) on Foreign Currency Exchange

Other Non-Operating Income (Loss)

Net Interest Expense

Interest Expense

Interest Income

Pretax Income From Continuing Operations

Income Tax Expense

Current Income Tax

Deferred Income Tax

Income Tax Adjustments

Net Income from Continuing Operations

Income from Discontinued Operations

Other Items Before Net Income

Net Income

Net Income Attributable to Minority Interests

Net Income Attributable to Owners of the Company

Preferred Stock Dividends

Other Adjustments

Net Income Attributable to Common Stockholders

Other Comprehensive Income

Total Comprehensive Income

Total Comprehensive Income Attributable to Minority Interests

Total Comprehensive Income Attributable to Owners of the Company

Basic EPS

Basic EPS from Continuing Operations

Basic EPS from Discontinued Operations

Diluted EPS

Diluted EPS from Continuing Operations

Diluted EPS from Discontinued Operations

BETR

BETR fundamentals

You can ask Aime