Better Home (BETR) | Financial Analysis & Statements
Better Home & Finance Holding Inc. Small-cap Financial Services
TL;DR: Financial Overview - Revenue, Profits & Key Metrics
Latest Quarterly: Dec 2025Income Metrics
Revenue
66.5M
Gross Profit
-7.1M
-10.62%
Operating Income
-41.9M
-63.06%
Net Income
-39.9M
-60.03%
EPS (Diluted)
$-2.50
Balance Sheet Metrics
Total Assets
1.5B
Total Liabilities
1.5B
Shareholders Equity
37.2M
Debt to Equity
39.49
Cash Flow Metrics
Operating Cash Flow
-67.3M
Free Cash Flow
-60.2M
Revenue & Profitability Trend
Quarter Income Flow
Dec 31, 2025
Annual Income Flow
2025
Better Home Income Statement From 2021 to 2025
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Revenue | 206.9M | 120.1M | 88.5M | 395.1M | 1.3B |
| Cost of Goods Sold | 217.1M | 162.6M | 149.8M | 693.6M | 969.3M |
| Gross Profit | -10.2M | -42.5M | -61.3M | -298.5M | 342.3M |
| Gross Margin % | -4.9% | -35.4% | -69.3% | -75.6% | 26.1% |
| Operating Expenses | |||||
| Research & Development | - | - | 83.8M | 124.3M | 144.5M |
| Selling, General & Administrative | 83.7M | 86.2M | 114.9M | 168.6M | 349.6M |
| Other Operating Expenses | 41.6M | 26.1M | - | - | - |
| Total Operating Expenses | 125.2M | 112.3M | 198.7M | 292.9M | 494.1M |
| Operating Income | -149.5M | -188.0M | -262.1M | -595.4M | -152.7M |
| Operating Margin % | -72.2% | -156.6% | -296.2% | -150.7% | -11.6% |
| Non-Operating Items | |||||
| Interest Income | - | - | - | - | - |
| Interest Expense | - | - | 31.6M | 303.2M | 101.0M |
| Other Non-Operating Income | -16.3M | -17.4M | -240.7M | 22.6M | -49.8M |
| Pre-tax Income | -165.8M | -205.4M | -534.4M | -876.0M | -303.5M |
| Income Tax | 53.0K | 850.0K | 2.0M | 1.1M | -2.4M |
| Effective Tax Rate % | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Net Income | -165.9M | -206.3M | -536.4M | -877.1M | -301.1M |
| Net Margin % | -80.2% | -171.8% | -606.1% | -222.0% | -23.0% |
| Key Metrics | |||||
| EBITDA | -135.4M | -154.8M | -205.6M | -542.4M | -125.5M |
| EPS (Basic) | $-10.80 | $-13.65 | $-58.00 | $-59.46 | $-20.41 |
| EPS (Diluted) | $-10.80 | $-13.65 | $-58.00 | $-59.46 | $-20.41 |
| Basic Shares Outstanding | 15358433 | 15111701 | 9233682 | 14751708 | 14751708 |
| Diluted Shares Outstanding | 15358433 | 15111701 | 9233682 | 14751708 | 14751708 |
Income Statement Trend
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Better Home Balance Sheet From 2021 to 2025
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Assets | |||||
| Current Assets | |||||
| Cash & Equivalents | 99.8M | 211.1M | 503.6M | 318.0M | 938.3M |
| Short-term Investments | 103.6M | 53.8M | 25.6M | 0 | - |
| Accounts Receivable | - | - | - | - | - |
| Inventory | - | - | 0 | 1.1M | 1.1M |
| Other Current Assets | - | - | - | - | - |
| Total Current Assets | 1.5B | 861.9M | 792.1M | 694.2M | 3.1B |
| Non-Current Assets | |||||
| Property, Plant & Equipment | 4.7M | 1.4M | 20.0M | 43.5M | 60.7M |
| Goodwill | 44.0M | 68.2M | 102.9M | 96.8M | 112.1M |
| Intangible Assets | 22.0M | 20.9M | 38.1M | 62.0M | 72.5M |
| Long-term Investments | 4.2M | 2.5M | 1.7M | 239.7M | 9.3M |
| Other Non-Current Assets | - | - | 4.8M | - | 14.3M |
| Total Non-Current Assets | 43.8M | 51.2M | 113.5M | 389.2M | 213.8M |
| Total Assets | 1.5B | 913.1M | 905.6M | 1.1B | 3.3B |
| Liabilities | |||||
| Current Liabilities | |||||
| Accounts Payable | 74.6M | 48.1M | 66.6M | 82.4M | 133.3M |
| Short-term Debt | 411.9M | 244.1M | 126.2M | 144.0M | 1.7B |
| Current Portion of Long-term Debt | - | - | - | - | - |
| Other Current Liabilities | 4.8M | 6.1M | - | - | - |
| Total Current Liabilities | 1.3B | 435.6M | 208.3M | 264.7M | 1.9B |
| Non-Current Liabilities | |||||
| Long-term Debt | 203.4M | 523.8M | 545.8M | 951.9M | 700.0M |
| Deferred Tax Liabilities | - | - | - | - | - |
| Other Non-Current Liabilities | 2.3M | 2.9M | 6.1M | 3.0M | 8.6M |
| Total Non-Current Liabilities | 213.9M | 535.7M | 574.7M | 986.6M | 760.5M |
| Total Liabilities | 1.5B | 971.2M | 783.0M | 1.3B | 2.6B |
| Equity | |||||
| Common Stock | 2.0K | 2.0K | 74.0K | 10.0K | 10.0K |
| Retained Earnings | -2.1B | -1.9B | -1.7B | -1.2B | -292.6M |
| Treasury Stock | - | - | - | - | - |
| Other Equity | - | - | - | - | - |
| Total Shareholders Equity | 37.2M | -58.2M | 122.6M | -167.9M | 676.4M |
| Key Metrics | |||||
| Total Debt | 615.3M | 767.9M | 672.1M | 1.1B | 2.4B |
| Working Capital | 207.2M | 426.3M | 583.8M | 429.5M | 1.2B |
Balance Sheet Composition
Better Home Cash Flow Statement From 2021 to 2025
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Operating Activities | |||||
| Net Income | -165.9M | -206.3M | -536.4M | -877.1M | -301.1M |
| Depreciation & Amortization | 14.1M | 33.2M | 42.9M | 49.4M | 27.2M |
| Stock-Based Compensation | 20.4M | 26.8M | 54.2M | 30.5M | 55.2M |
| Working Capital Changes | 16.4M | -27.7M | -63.0M | -55.6M | -30.7M |
| Operating Cash Flow | -181.0M | -400.6M | -414.7M | 957.7M | 306.2M |
| Investing Activities | |||||
| Capital Expenditures | -1.2M | -450.0K | 308.0K | -7.2M | -15.7M |
| Acquisitions | - | 0 | -12.7M | -3.8M | -5.1M |
| Investment Purchases | -493.1M | -211.9M | -48.2M | 0 | - |
| Investment Sales | 446.7M | 183.3M | 31.3M | 0 | - |
| Investing Cash Flow | -651.5M | -137.1M | -29.3M | -11.0M | -20.8M |
| Financing Activities | |||||
| Share Repurchases | - | - | 0 | -7.9M | -5.6M |
| Dividends Paid | - | - | - | - | - |
| Debt Issuance | 167.8M | 117.9M | 3.2B | 10.1B | 51.3B |
| Debt Repayment | -111.6M | -1.1M | -2.9B | -11.7B | -51.0B |
| Financing Cash Flow | 714.3M | 239.0M | 362.0M | -3.1B | -257.1M |
| Free Cash Flow | -177.8M | -390.1M | -169.5M | 903.0M | 292.6M |
| Net Change in Cash | -118.2M | -298.7M | -82.0M | -2.1B | 28.3M |
Cash Flow Trend
Better Home Key Financial Ratios
Valuation Ratios
P/E Ratio (TTM)
55.51
Forward P/E
16.54
Price to Book
19.29
Price to Sales
4.47
PEG Ratio
16.54
Profitability Ratios
Profit Margin
-100.61%
Operating Margin
-87.27%
Return on Equity
-446.10%
Return on Assets
-13.72%
Financial Health
Current Ratio
1.09
Debt to Equity
1,672.79
Beta
1.93
Per Share Data
EPS (TTM)
$-10.80
Book Value per Share
$2.32
Revenue per Share
$10.74
Peer Financial Comparison
| Company | Market Cap | P/E Ratio | P/B Ratio | ROE | Profit Margin | Debt/Equity |
|---|---|---|---|---|---|---|
| BETR | 676.3M | 55.51 | 19.29 | -446.10% | -100.61% | 1,672.79 |
| Rocket Companies | 44.0B | 679.75 | 1.88 | -1.47% | -0.96% | 147.69 |
| Mr. Cooper | 13.5B | 23.63 | 2.65 | 11.76% | 25.38% | 238.73 |
| Walker & Dunlop | 1.8B | 30.28 | 0.96 | 3.25% | 4.92% | 141.58 |
| Guild Holdings | 1.2B | 9.91 | 1.01 | 10.52% | 9.92% | 269.43 |
| Loandepot | 839.3M | -5.23 | 1.62 | -24.09% | -5.10% | 1,586.12 |
Financial data is updated regularly. All figures are in the company's reporting currency.






