Better Home & Finance Holding Company reported a net loss of $54.2 million for Q3 2024, significantly improving from a $353.9 million loss in Q3 2023. Total net revenues surged to $29 million from $4.9 million year-over-year, driven by an 86% increase in gain on loans to $21.5 million. Funded loan volume grew 42% to $1.035 billion, with gain on sale margin expanding to 2.08%.The company's operating expenses decreased substantially to $83.1 million from $358.1 million in Q3 2023, primarily due to reduced compensation costs and the absence of one-time charges. Compensation and benefits expenses declined 55% to $37.8 million, while marketing expenses increased to $12.1 million as part of growth initiatives. The company maintained $207.7 million in cash and cash equivalents as of September 30, 2024.Looking ahead, Better Home & Finance continues to focus on improving its platform and preparing for future growth through technology investments. The company successfully regained Nasdaq compliance following a 1-for-50 reverse stock split in August 2024. Management remains committed to expanding customer base and market share while driving down costs through automation.

Better Home & Finance Holding Company reported a net loss of $54.2 million for Q3 2024, significantly improving from a $353.9 million loss in Q3 2023. Total net revenues surged to $29 million from $4.9 million year-over-year, driven by an 86% increase in gain on loans to $21.5 million. Funded loan volume grew 42% to $1.035 billion, with gain on sale margin expanding to 2.08%.The company's operating expenses decreased substantially to $83.1 million from $358.1 million in Q3 2023, primarily due to reduced compensation costs and the absence of one-time charges. Compensation and benefits expenses declined 55% to $37.8 million, while marketing expenses increased to $12.1 million as part of growth initiatives. The company maintained $207.7 million in cash and cash equivalents as of September 30, 2024.Looking ahead, Better Home & Finance continues to focus on improving its platform and preparing for future growth through technology investments. The company successfully regained Nasdaq compliance following a 1-for-50 reverse stock split in August 2024. Management remains committed to expanding customer base and market share while driving down costs through automation.