Better Home & Finance Holding Co BETR
On August 22, 2023, we consummated the transactions contemplated by the Agreement and Plan of Merger (as amended, the "Merger Agreement"), by and among Aurora Acquisition Corp. ("Aurora"), Better Holdco, Inc. ("Pre-Business Combination Better"), and Aurora Merger Sub I, Inc., formerly a wholly owned subsidiary of Aurora ("Business Combination"). In connection with the closing of the transactions contemplated by the Merger Agreement, the Company's Class A common stock and Warrants began trading on the Nasdaq Global Market and Nasdaq Capital Market, respectively, under the ticker symbols "BETR" and BETRW." On March 13, 2024, the listing of the Company's Class A common stock and warrants transferred from the Nasdaq Global Market to the Nasdaq Capital Market.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Revenue | $164.9M | $108.5M | $16.1M | $12.3M | — | — |
| R&D | $27.9M | $26.1M | $39.4M | $124.3M | — | — |
| SG&A | $45.3M | $52.2M | $60.1M | $185.9M | — | — |
| Total operating expenses | $330.7M | $313.9M | $606.8M | $1.24B | — | — |
| Operating income | — | — | -$291.3M | -$858.9M | -$8.1M | — |
| Interest expense | $17.4M | $17.5M | $2.6M | $17.1M | — | — |
| Pre-tax income | -$165.8M | -$205.4M | -$534.4M | -$876.0M | — | — |
| Income tax | $53.0K | $850.0K | $2.0M | $1.1M | — | — |
| Net income | -$165.9M | -$206.3M | -$536.4M | -$877.1M | -$6.5M | — |
| EPS, basic | -10.80 | -13.65 | -58.09 | -3.01 | — | — |
| EPS, diluted | -10.80 | -13.65 | -58.09 | -3.01 | — | — |
| Shares, diluted (wtd. avg.) | $15.4M | $15.1M | $9.2M | $291.3M | $19.8M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Cash and equivalents | $99.8M | $211.1M | $528.1M | $346.1M | $978.9M | $0 |
| Short-term investments | $103.6M | $53.8M | $25.6M | $0 | — | — |
| Receivables | — | — | — | — | $503.0K | — |
| Inventory | — | — | $0 | $1.1M | — | — |
| Total current assets | — | — | — | $419.2K | $1.1M | $5.0K |
| Goodwill | $11.0M | $23.6M | $32.4M | $17.4M | $18.7M | — |
| Other intangibles | $22.0M | $20.9M | $38.1M | $62.0M | — | — |
| Total assets | $1.51B | $913.1M | $905.6M | $1.08B | $279.1M | $562.7K |
| Accounts payable | — | — | — | $4.7M | $5.7M | $531.9K |
| Total current liabilities | — | — | — | $15.0M | $7.1M | $557.7K |
| Total liabilities | $1.47B | $971.2M | $783.0M | $1.25B | $28.9M | $557.7K |
| Retained earnings | -$2.08B | -$1.91B | -$1.70B | -$1.17B | -$6.5M | -$20.0K |
| Total equity | $37.2M | -$58.2M | $122.6M | -$604.2M | $242.6M | $0 |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Operating cash flow | -$166.6M | -$380.0M | -$159.7M | $938.3M | -$3.2M | — |
| Depreciation and amortisation | $1.0M | $7.1M | $5.8M | $13.7M | — | — |
| Stock-based compensation | $20.4M | $26.8M | $54.2M | $30.5M | — | — |
| Capital expenditure | $1.2M | $3.4M | $456.0K | $11.7M | — | — |
| Investing cash flow | -$661.5M | -$143.8M | -$38.6M | -$34.6M | -$278.0M | — |
| Financing cash flow | $714.3M | $239.1M | $381.4M | -$1.54B | $281.3M | — |
| Buybacks | — | — | $0 | $7.9M | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001628280-26-017747.
Others in SIC 6163
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| FIGR | Figure Technology Solutions, Inc. | $7.97B | 81.7x | 48.7% |
| TREE | LendingTree, Inc. | $398.0M | 2.6x | 24.1% |
| FINV | FinVolution Group | — | — | 8.4% |