Recent Updates — BETR
Better Home & Finance Holding Company announced preliminary third quarter 2026 results, reporting loan volume of $1.395 billion within its guidance range of $1.375 billion to $1.525 billion. Total net revenues came in at $45.1 million, below the expected range of $49.0 million to $52.0 million due to interest rate headwinds and a proxy contest distraction that lowered conversion rates. The company reported a preliminary net loss of $33.1 million to $34.1 million and an adjusted EBITDA loss of $24.8 million to $25.8 million, which included approximately $8 million in proxy-related legal and PR expenses; excluding these costs, the adjusted EBITDA loss would have been within guidance. The company expects to recognize a non-cash reversal of stock-based compensation expense related to forfeited equity awards from departed directors.
Better Home & Finance Holding Company received a written notice from Nasdaq on October 13, 2026, confirming it is not in compliance with Listing Rules 5605(b)(1) and 5605(c)(2). The non-compliance stems from the resignations and removals of board directors disclosed earlier in October, which left the company without a majority of independent directors or a fully independent audit committee. Nasdaq has granted the company until November 27, 2026, to submit a plan to regain compliance, with a potential extension of up to 180 days if accepted. Failure to comply could result in delisting. Better Home & Finance Holding Company operates in the mortgage lending and real estate services industry.
Better Home & Finance Holding Company reported preliminary third-quarter total loan volume of $1.39 billion, a 15% increase from the prior year's $1.21 billion. Tinman AI platform volume surged 64% to $790 million, accounting for approximately 57% of total volume. The company also published its first Better 2.0 weekly management scorecard, detailing $13.2 million in annualized expense reductions implemented in the first week and targeting an additional $51 million over the next four weeks. These initiatives aim to advance toward Adjusted EBITDA breakeven. Better Home & Finance Holding Company is an AI-native mortgage and home equity finance platform.
Better Home & Finance Holding Company notified Nasdaq on October 5, 2026, that it is not in compliance with listing standards requiring a majority of independent directors and specific composition for the audit and compensation committees. This stems from recent resignations and removals of board members disclosed in prior filings. On October 8, 2026, Nasdaq issued a formal notice stating non-compliance and granting the company 45 calendar days to submit a plan to regain compliance. The notice has no immediate effect on the listing of BETR's Class A common stock or warrants, but failure to regain compliance could result in delisting. Better Home & Finance Holding Company operates in the mortgage lending industry.
The Garg Group delivered stockholder consents removing Daniel Lewis, Arnaud Massenet, Bhaskar Menon, Prabhu Narasimhan, and Harit Talwar from the Board of Directors. Hugh Frater resigned following the removals. Vishal Garg appointed Bing Gordon, Steven Sarracino, Paula Tuffin, and Nicholas Calamari to fill vacancies. The board also removed Daniel Lewis as Interim Chief Executive Officer and is seeking a successor. Better Home & Finance Holding Company operates in the mortgage lending industry.
Better Home & Finance Holding Company entered into an amendment to its Rights Agreement with Computershare Trust Company, N.A., accelerating the expiration of shareholder purchase rights from the 2027 annual meeting to October 6, 2026. Consequently, all outstanding rights expired and were no longer exercisable on that date, terminating the agreement. The company also filed a Certificate of Elimination with the Delaware Secretary of State on October 7, 2026, eliminating the Series A Junior Participating Preferred Stock associated with the rights and returning those shares to authorized but unissued status. Better Home & Finance Holding Company operates in the mortgage lending industry.