Better Home & Finance Holding Company reported Q2 2024 financial results with total net revenues increasing 4% to $32.3 million, compared to $31.1 million in Q2 2023. The company's funded loan volume grew 5% to $962 million, while net loss improved slightly to $41.4 million from $44.0 million year-over-year. Gain on loans decreased to $24.2 million from $26.4 million in Q2 2023.The company demonstrated operational improvements with technology expenses decreasing 41% to $6.6 million and loan origination expenses declining 77% to $0.8 million compared to Q2 2023. Total loans increased 19% to 2,995, though average loan amount decreased 11% to $321,178, primarily due to growth in HELOC and closed-end second lien loans. Marketing expenses increased to $8.5 million as the company focused on growth initiatives.The company faces challenges maintaining Nasdaq listing requirements due to share price falling below $1.00. In response, the board approved a 1-for-50 reverse stock split effective August 16, 2024. As of June 30, 2024, Better Home & Finance held $378.8 million in cash and investments, against $528.6 million in convertible notes, while maintaining compliance with warehouse line covenants.

Better Home & Finance Holding Company reported Q2 2024 financial results with total net revenues increasing 4% to $32.3 million, compared to $31.1 million in Q2 2023. The company's funded loan volume grew 5% to $962 million, while net loss improved slightly to $41.4 million from $44.0 million year-over-year. Gain on loans decreased to $24.2 million from $26.4 million in Q2 2023.The company demonstrated operational improvements with technology expenses decreasing 41% to $6.6 million and loan origination expenses declining 77% to $0.8 million compared to Q2 2023. Total loans increased 19% to 2,995, though average loan amount decreased 11% to $321,178, primarily due to growth in HELOC and closed-end second lien loans. Marketing expenses increased to $8.5 million as the company focused on growth initiatives.The company faces challenges maintaining Nasdaq listing requirements due to share price falling below $1.00. In response, the board approved a 1-for-50 reverse stock split effective August 16, 2024. As of June 30, 2024, Better Home & Finance held $378.8 million in cash and investments, against $528.6 million in convertible notes, while maintaining compliance with warehouse line covenants.