Better Home & Finance posts mixed Q3 2026 preliminary results

Better Home & Finance Holding Company (Nasdaq: BETR) reported preliminary third-quarter 2026 results showing loan volume within guidance but revenue and adjusted EBITDA below targeted ranges, according to a company statement.

Loan volume for the quarter ended September 30, 2026, reached $1.395 billion, within the previously issued guidance range of $1.375 billion to $1.525 billion, and up 15.3% from $1.210 billion in the third quarter of 2025. Total net revenues came in at $45.1 million, up 8.6% year over year but below the guidance range of $49.0 million to $52.0 million.

Preliminary net loss was between $33.1 million and $34.1 million, compared with a net loss of $39.1 million in the same period a year earlier. Adjusted EBITDA loss was between $24.8 million and $25.8 million, wider than the guidance range of a $15.0 million to $18.0 million loss. The company said approximately $8.0 million of proxy-related legal and public relations expenses were included in the result, and that excluding those costs, the adjusted EBITDA loss would have been approximately $17.8 million, within the guidance range.

Chief Financial Officer Loveen Advani said in the statement that "interest rate headwinds and the proxy contest weighed on conversion and partner launches."

The company also reported a liquidity position of $81 million in cash and cash equivalents and $9 million in restricted cash. Better said it expects the planned sale of its UK bank to close in the first quarter of 2027, which it anticipates will generate approximately $65 million of additional cash.

The company expects to recognize a non-cash reversal of approximately $7 million to $8 million of stock-based compensation expense in the third quarter, primarily related to forfeitures of unvested equity awards following director departures.

All results are unaudited and preliminary, subject to completion of the company's financial closing procedures. Final results may differ materially.

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