Company Overview and Strategy - Better Home & Finance Holding Company is positioning itself as a next-generation AI mortgage platform, aiming to simplify, speed up, and improve the mortgage experience[1, 12, 14] - The company's strategy involves expanding Tinman AI's reach beyond direct-to-consumer (D2C) into a platform and software model, addressing the mortgage industry's technology and human capital challenges[14] - The company aims to fully automate the manual aspects of the homeownership process and rapidly improve efficiency through advancements in Tinman AI[54, 55] Market Opportunity and Customer Experience - The homeownership market is enormous, with a cumulative market size of over $19 trillion[17] - The company's platform delivers a best-in-class experience, with a Net Promoter Score of 664 and a 4.1 out of 5 Trustpilot Score[19, 20] - Better Mortgage offers a broad suite of home financing solutions, including home purchase, refinance, and HELOC products[22, 29, 30, 31] Financial Performance and Partnerships - In Q3 2025, the company's total funded loan volume was $1.035 billion, with purchase volume at $774 million, HELOC volume at $183 million, and refinance volume at $44 million[48] - The company is targeting Adjusted EBITDA breakeven by the end of Q3 2026[58] - The company is actively developing new partnerships, including with a top five U S Personal Financial Services Platform and a top five U S Non-bank Mortgage Originator[50] AI and Technology - The company's proprietary AI mortgage platform, Tinman, powers its operations and drives better, faster, and cheaper customer experiences[36, 40] - Betsy, the company's AI voice-based loan assistant, has led to a ~3x increase in Loan Officer Productivity and a ~2x increase in lead-to-lock conversion to 6%, up from 3%[42] - The company expects $600 million of Tinman AI Platform volume in Q4[58]

Company Overview - Better Home & Finance Holding Company is developing a next-generation AI mortgage platform aimed at simplifying and accelerating the mortgage process[11] - Mortgages originated with Better technology cost 43% less than the industry average[17] - The company's platform delivers a best-in-class experience with a 64 Net Promoter Score and a 4.1 out of 5 Trustpilot Score[21] Market Opportunity - The cumulative homeownership market size is estimated at $19+ trillion[19] - Home mortgages represent approximately 69% of total household debt[19] - Buyers pay fees to up to 10 intermediaries, accounting for ~10% of home price[21] Technology and Platform - The platform is powered by Tinman® AI, which enables faster rate quotes (3 seconds), pre-approvals (3 minutes), and loan closes (3 weeks)[21, 13] - The company's AI agent, Betsy, has led to a 3x increase in loan officer productivity[57] - The company retains loans on its balance sheet for approximately 26 days on average[30, 32] Financial Performance - In Q2 2025, the total mortgage revenue was $7886 thousand per fund[58] - In Q2 2025, the contribution margin per fund was $1064[58] - Adjusted EBITDA for Q2 2025 was $(26605) thousand, compared to $(23259) thousand in Q2 2024[79]