Sector: Financials | Industry: Consumer Lending |
See Regulatory Filings on SEC |
Company Contact | |
Address: | 3 World Trade Center 175 Greenwich Street, 57Th Floor NEW YORK NY 10007 |
Tel: | N/A |
Website: | https://better.com |
IR: | See website |
Key People | ||
Harit Talwar Independent Chairman of the Board | Kevin Ryan President, Chief Financial Officer | Vishal Garg Chief Executive Officer, Director |
Nicholas Calamari Chief Administrative Officer and Senior Counsel | Paula Tuffin Chief Compliance Officer, General Counsel |
Business Overview |
Better Home & Finance Holding Company is a homeownership company. The Company serves customers in the United States and United Kingdom through its suite of products, including residential mortgage, insurance and real estate services. Its technology platform, Tinman, allows customers to see their rate options, get pre-approved, lock in rates and get connected to a real estate agent, and close their loan. It offers Home Finance (home loan) products and Better Plus (non-mortgage) products. Its suite of products and services is powered by the Company's technology platform, Tinman. The Company offers a range of mortgage loan products, including GSE-conforming mortgage loans, FHA and VA loans, and jumbo mortgage loans. The Company offers 'One-Day Mortgage' program that allows customers to receive an underwriting determination on their mortgage loan application, in the form of a commitment letter, after locking in their interest rate. |
Financial Overview |
For the fiscal year ended 31 December 2023, Better Home & Finance Holding Co revenues decreased 78% to $88.5M. Net loss decreased 40% to $536.4M. Revenues reflect LOAN BROKERS segment decrease of 80% to $76.8M. Lower net loss reflects LOAN BROKERS segment loss decrease of 67% to $291.3M. Basic Earnings per Share excluding Extraordinary Items increased from -$1.18 to -$0.71. |
Reporting Currency: | U.S. Dollars |
Enterprise value: | $464.71M as of Dec 31, 2023 |
Annual revenue (TTM): | $88.50M as of Dec 31, 2023 |
EBITDA (TTM): | -$230.84M as of Dec 31, 2023 |
Net annual income (TTM): | -$536.42M as of Dec 31, 2023 |
Free cash flow (TTM): | -$169.50M as of Dec 31, 2023 |
Net Debt Last Fiscal Year: | $149.11M as of Dec 31, 2023 |
Shares outstanding: | 755,924,333 as of Mar 13, 2024 |
TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization |