Better Home & Finance: Mixed — EPS -$1.93, Revenue $45.12M
Mixed ResultQ3 2026 · After-market
Did Better Home & Finance (BETR) beat earnings today?
It was a mixed report for Q3 2026 — Better Home & Finance (BETR) beat on revenue but missed on EPS.
Earnings Per Share-3.21% surprise
-$1.93Actual
Expected: -$1.87
vs. year ago +24.6%
Total Revenue+0.06% surprise
$45.12MActual
Expected: $45.09M
vs. year ago +9.0%
Released Nov 09 · 4:06 PM ET
Earning Report
| Metric | Q3 2026 | Q3 2025 | YoY Change % |
|---|---|---|---|
| Revenue | $45.12M | $41.55M | +9.0% |
| Revenue detail — reported lines | |||
| └─Gain on loans | $41.84M | $36.42M | +14.9% |
| └─Other revenue | $868.00K | $3.08M | -71.8% |
| Consolidated revenue by source | |||
| └─Net interest income | $2.41M | $2.04M | +17.7% |
| Net Loss | ($36.55M) | ($39.13M) | +7.0% |
| GAAP Basic EPS | -$1.93 | -$2.56 | +24.6% |
| GAAP Diluted EPS | -$1.93 | -$2.56 | +24.6% |
Financial Outlook / Guidance
| Metric | Q4 2026 Outlook |
|---|---|
| Guidance | |
| Adjusted EBITDA-basis Operating Expenses | $45.0M-$47.0M |
Q4 2026 Outlook
- Adjusted EBITDA-basis Operating Expenses
- Guidance$45.0M-$47.0M
Business Highlights
- ➤Classified Birmingham Bank as held for sale and discontinued operations.
- ➤Introduced AI lead routing; weekend loan locks doubled from October 24 to 31.
- ➤Vishal Garg-led group secured consents representing 52% of outstanding voting power.
- ➤Stockholder consents removed five directors and the Interim CEO.
- ➤Launched AI-powered HELOC with a large existing partner.
- ➤Expanded wholesale platform to 39 signed brokerages, initially focused on HELOCs.
- ➤Completed actions toward the $64.2M annualized savings target.
- ➤Implemented delayering, greater AI use, and vendor-spend reductions.
- ➤Tinman® enables rate options, pre-approvals, rate locks, and closings in as little as three weeks.
- ➤Betsy® provides application updates and answers consumer questions 24/7/365.
Management Commentary
Vishal Garg, Founder and Head of Product, Platform and Innovation at Better
“I’m excited to be back and executing on our vision for Better 2.0. From 2019 to 2021, Better was one of the fastest-growing companies in mortgage because we moved faster and let our AI-native platform do the work. During my absence, under Mr. Lewis and the prior Board, we lacked that edge. Loan officer talk time fell 29%, production hours fell 25%, and key partnership launches stalled, weighing on results. Better 2.0 will follow our playbook that works: fewer layers, more AI, every number in public.”
Vishal Garg, Founder and Head of Product, Platform and Innovation at Better
“When I came back we assessed the current rate environment and under this challenging backdrop our priorities became clear: stronger execution, higher productivity, and lower costs. Since my return, we have executed $3.5 million in annualized savings from delayering our management and corporate structure, with AI agents and dashboards. We intend to scale without rebuilding those management layers. Early results are encouraging. Following the introduction of AI lead routing, weekend loan locks doubled from October 24th to the 31st. Our focus is on turning these improvements into more funded loans, lower costs, and sustainable profitability.”
Loveen Advani, Chief Financial Officer of Better
“We delivered loan volume within our guidance range despite a challenging rate environment, with platform channels contributing 57% of volume and HELOCs representing 19%. With the proxy contest behind us, we have renewed our focus on profitable growth and operating efficiency. We are reducing fixed costs and using AI to improve productivity, with a goal of scaling volume without rebuilding overhead. Reaching sustainable Adjusted EBITDA breakeven remains our top financial priority.”