Better Home & Finance Announces $30 Million Share Repurchase Program

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Price: $10.50 +5.85%

Overall Analyst Rating:
SELL (= Flat)

Revenue Growth %: +17.8%

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Initial $10 million share repurchase program authorization advances leadership’s $30 million buyback plan

NEW YORK--(BUSINESS WIRE)-- Better Home & Finance Holding Company (NASDAQ: BETR) (“Better” or the “Company”) today announced that its Board of Directors authorized the repurchase of up to $30 million of the Company’s Class A common stock. Better intends to begin repurchases with an initial $10 million phase.

The program advances Better 2.0’s commitment to disciplined capital allocation as Better advances its next phase of growth. The Company intends to align the pace of the repurchases with executed operational cost savings and asset disposals such as the proposed sale of the Company’s UK bank subsidiary. Upon Garg’s return, the Company has ramped up its cost optimization initiatives and already executed on changes in its marketing budget and large third party vendors in legal and data services, with additional cuts of approximately $1 million per month realized, and on an expected contribution margin neutral basis.

“I spent over 2 months outside the Company, getting fully AI-pilled in a hands-on way that is difficult to do as the CEO of a large organization. During my campaign, my small team and I ran AI-first marketing, social media, and legal workstreams. I am immediately applying what we learned directly inside Better,” said Vishal Garg, Chief Platform, Product, and Innovation Officer at Better. “This buyback plan is going to be funded through cost savings and capital releases. I am back because I firmly believe there is a $100 billion AI-native fintech disrupting the largest tangible asset class in the world hiding inside Better. Our job is to not just build it like we did over the last 10 years, but to monetize and unlock it to earn our shareholders’ confidence through tangible commercial results.”

Repurchases may be made through open market purchases of the Company’s Class A common stock. The timing and amount of purchases will depend on a variety of factors, including the trading price, volume of trading, implementation of the Company’s cost savings plan, the Company’s liquidity profile and any other rules and regulations. The program expires on October 8, 2027.

“We believe our shares are dramatically undervalued at less than 1x revenue; our valuation falls short of our fintech and AI-native platform peers and it does not reflect Better’s potential. The repurchase authorization puts another point on the scoreboard for Better 2.0. By reducing the number of shares outstanding this repurchase helps all shareholders are we build our way back up to fair value,” Garg added.

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. Better has leveraged its industry-leading AI platform, Tinman®, to achieve its 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™, the first AI loan agent built exclusively for the mortgage industry, revolutionizes the homebuying journey by answering questions, delivering approvals, comparing products, processing rate locks, and moving their loan application along to closing 24/7/365. Better’s mortgage offerings include GSE-conforming mortgage loans, FHA and VA loans, and jumbo mortgage and home equity loans. Better serves customers in all 50 US states and the United Kingdom.

For more information, follow @betrmortgage 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 facts should be considered forward-looking statements, including, without limitation, statements and expectations regarding the implementation, timing, amount and potential benefits of Better’s share repurchase program and cost savings plan. 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 and the Company’s Quarterly Reports on Form 10-Q for the quarters ended March 31, 2026 and June 30, 2026, as any such factors may be updated from time to time in the Company’s other filings with the SEC. 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.