Better exceeds prior guidance on Tinman AI Platform Funded Loan Volume , reiterates guidance, and establishes Q1 2026 outlook

   --  In Q4 2025, Funded Loan Volume grew 56% year over year versus industry 
      growth of 4%, while revenue grew 77% year over year 
 
   --  Tinman AI Platform Funded Loan Volume reached $646 million in Q4 2025, 
      up 34% quarter-over-quarter, representing more than 40% of Funded Loan 
      Volume, and exceeding prior guidance of $600 million 
 
   --  Tinman AI Platform partnerships launched in Q4 2025 grew approximately 
      100% month-over-month throughout Q4 in initial rollout to less than 1% of 
      partners' combined customer base of over 150 million customers 
 
   --  Introducing Q1 2026 guidance and reaffirming the previously stated 
      outlook for Loan Volume and Adjusted EBITDA breakeven 
NEW YORK--(BUSINESS WIRE)--March 13, 2026-- 

Better Home & Finance Holding Company (NASDAQ: BETR; BETRW) ("Better," the "Company," "our" or "we"), the AI-native mortgage and home equity finance company, today reported financial results for its fourth quarter.

"The fourth quarter was about positioning the Company for a material ramp in Funded Loan Volume. The early data speaks for itself as we transition from a D2C originator to an AI-native lending platform with rapidly expanding distribution," said Vishal Garg, CEO and Founder of Better. "With the Tinman AI platform and several landmark partnerships scaling, we believe we are defining the next frontier in home finance."

In Q4 2025, Better launched its partnership with Intuit Credit Karma, one of the largest consumer finance platforms in the United States with more than 140 million members. Through the partnership, Credit Karma is expanding from its roots as a lead-generation platform into a mortgage originator by leveraging Better's Tinman AI platform.

In just five months, Credit Karma Home Loans powered by Better has already generated more than 30,000 mortgage pre-approvals. Adoption remains early; the product has reached less than 1% of Credit Karma's estimated eligible member base.

"We are seeing growing inbound interest from brokers, banks, and non-bank lenders following our recent partnership launches. Our integration with ChatGPT is also opening a new distribution channel for the Tinman AI platform, and we are actively working with prospective partners to integrate Tinman into their workflows," said Vishal Garg, CEO and Founder of Better.

Fourth Quarter 2025 Financial Highlights:

GAAP Results:

   --  Revenue of approximately $44 million, compared to approximately $25 
      million in Q4 2024 and $44 million in Q3 2025, demonstrating 77% growth 
      year over year 
 
   --  Net loss of approximately $40 million, compared to a loss of 
      approximately $59 million in Q4 2024 and a loss of $39 million in Q3 
      2025, demonstrating a 33% improvement year over year 

Key Operating Metrics and Non-GAAP Financial Measures:

   --  Funded Loan Volume of $1.5 billion, compared to $936 million in Q4 2024 
      and $1.2 billion in Q3 2025, demonstrating 56% growth year over year 
 
   --  Approximately 4,293 Funded Loans, compared to 3,326 in Q4 2024 and 
      4,086 in Q3 2025, demonstrating 29% growth year over year 
 
   --  Continued to improve D2C marginal unit economics, expanding D2C 
      marginal per unit contribution margin by 28% quarter-over-quarter 
 
   --  Adjusted EBITDA loss of $24 million, compared to a loss of $28 million 
      in Q4 2024 and a loss of $25 million in Q3 2025, demonstrating a 14% 
      improvement year over year 
 
   --  By Product: Purchase Funded Loan Volume of $720 million comprised 49% 
      of Funded Loan Volume; Refinance Funded Loan Volume of $537 million 
      comprised 37% of Funded Loan Volume; and Home Equity Funded Loan Volume 
      of $203 million comprised 14% of Funded Loan Volume 
 
   --  Year-over-year Funded Loan Volume growth was driven primarily by 
      increases in Refinance Funded Loan Volume (207% growth). Purchase Funded 
      Loan Volume grew 22% and Home Equity Funded Loan Volume grew 18% 
 
   --  By Channel: D2C Funded Loan Volume of $813 million comprised 56% of 
      Funded loan volume; Tinman$(R)$ AI Platform Funded Loan Volume of $646 
      million comprised the remaining 44% of volume 
 
   --  Maintained a strong liquidity position, ending Q4 2025 with 
      approximately $229 million of cash, restricted cash, short-term 
      investments, and assets held for sale 
 
   --  Warehouse financing capacity totaled $575 million across three 
      facilities as of December 31, 2025 

"Origination volume and revenue growth are accelerating, and contribution margin will expand narrowing operating losses. These trends give us confidence we will reach Adjusted EBITDA breakeven by the end of the third quarter of 2026," said Loveen Advani, CFO of Better.

"Tinman AI Platform volumes are expanding, which can make near-term forecasting challenging, but the continued ramp of our Intuit Credit Karma partnership is strengthening our trajectory. As we scale the platform, we remain focused on expense discipline, contribution margin, and operational execution, and I expect that to be reflected in our results over the coming quarters," Advani added.

Guidance

   --  Q1 2026 Loan Volume: $1.40B to $1.55B 
 
   --  Reaffirm $1.0 billion in Monthly Loan Volume by the end of May 2026 
      assuming continued Tinman AI Platform partnership growth 
 
   --  Reaffirm Adjusted EBITDA breakeven by the end of the Q3 2026 

Fourth Quarter 2025 Highlights:

   --  Strengthened executive leadership with the appointment of Loveen Advani 
      as Chief Financial Officer and Barry Feierstein as Chief Operating 
      Officer 
 
   --  Successfully launched the Credit Karma Home Loans partnership, 
      leveraging Better's Tinman AI platform to deliver automated end-to-end 
      refinancing. Pre-approvals scaled rapidly during the period, increasing 
      from 850 in October to 2,600 in November, 5,000 in December, and 
      continuing to 11,000 in January and 13,000 in February 2026 
 
   --  Expanded NEO distribution, adding nine branches during the fourth 
      quarter 2025, with annualized Q4 Funded Loan Volume of $462 million. 
      Within six months of fully rolling out, NEO increased loans funded per 
      officer by 91%, per processor by 17%, and per underwriter by nearly 50%, 
      powered by Tinman AI 
 
   --  Finance of America partnership went live and began scaling, integrating 
      a HELOC workflow into its existing reverse mortgage platform to expand 
      product offerings 

Subsequent Events in Q1 2026:

   --  Launched new integration with ChatGPT, enabling lenders, banks, and 
      fintech partners to access Better's Tinman AI mortgage underwriting 
      platform directly through natural language prompts, allowing users to 
      evaluate scenarios, check eligibility, and initiate loan workflows 
      instantly without traditional software interfaces 
 
   --  Top-five non-bank mortgage originator went live, beginning with HELOCs 
      in its direct-to-consumer division, with a full enterprise rollout 
      expected in Q2 2026 
 
   --  Top-three personal lending fintech pilot initiated and scaling rapidly, 
      with deeper integration underway 

Additional Information

For more information, please see the detailed financial data and other information available in the Company's Annual Report on Form 10-K, to be filed with the Securities and Exchange Commission (the "SEC"), and the investor presentation on the investor relations section of the Company's website at https://investors.better.com.

Webcast

As previously announced, Better will host a live webcast of its earnings video conference call beginning at 8:30am ET on March 13, 2026. To access the webcast and the related presentation, or to register to listen to the call by phone, go to the investor relations section of the Company's website at investors.better.com or click the "Attendee Registration Link" below. Please join the webcast at least 10 minutes prior to start time. A replay will be available on Better's investor relations website shortly after the call ends.

* Webcast Details *

Event Title: Better Home & Finance Holding Company 2025 Fourth Quarter and Full Year Results

Event Date: March 13, 2026, 08:30 AM (GMT-05:00) Eastern Time (US and Canada)

Attendee Registration Link:

https://events.q4inc.com/attendee/146947624

About Better

Better Home & Finance Holding Company $(BETR)$ is the first AI-native mortgage and home equity finance platform, and first fintech to fund more than $110 billion in loan volume. Better has leveraged its industry-leading AI platform, Tinman(R), to achieve its singular mission of making homeownership cheaper, faster, and easier for all Americans. Tinman(R) allows customers to see their rate options in seconds, get pre-approved in minutes, lock in rates, and close their loan in as little as three weeks. In addition, Betsy$(TM)$, 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 @tinmanAI on X and @betterdotcom on Instagram and TikTok.

Forward-looking Statements

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March 13, 2026 07:00 ET (11:00 GMT)