Better Home & Finance revenue jumps 77% as refinance volume triples

Better Home & Finance Holding Company (NASDAQ:BETR) delivered a sharp increase in operational momentum for the fourth quarter of 2025, signaling that its AI-native mortgage platform is beginning to capture significant market share as the interest rate environment shifts.

The New York-based fintech reported revenue of approximately $44 million for the quarter ended December 31, 2025, a 77% increase compared to the $25 million reported in the same period a year ago.

The top-line growth was driven by a 56% year-over-year jump in funded loan volume, which reached $1.5 billion.

Notably, refinance activity emerged as the primary growth engine, with refinance funded loan volume skyrocketing 207% year-over-year to $537 million.

On the bottom line, Better continues to move toward its goal of profitability.

The company reported a GAAP net loss of approximately $40 million, representing a 33% improvement from the $59 million loss in the fourth quarter of 2024.

Adjusted EBITDA loss narrowed to $24 million, a 14% year-over-year improvement.

This progress was supported by a 28% quarter-over-quarter expansion in marginal per-unit contribution margins within its direct-to-consumer (D2C) channel.

The company’s proprietary Tinman® AI platform remained central to its scaling efforts, accounting for 44% of total funded loan volume, or $646 million.

Management highlighted that the platform’s efficiency allowed the company to process 4,293 funded loans during the quarter—a 29% increase in throughput compared to the prior year—while maintaining a lean corporate structure.

Better maintained a healthy liquidity position to end the year, with approximately $229 million in cash, restricted cash, and short-term investments.

Additionally, the company held $575 million in warehouse financing capacity across three facilities as of December 31, 2025.