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
Where the revenue comes from as reported in the latest 10-K
Revenue by geography
- United States
- International
| Region | FY2025 | FY2024 |
|---|---|---|
| United States | $138.8M | $86.7M |
| International | $26.0M | $21.8M |
As the company reported it, from the “Segment Reporting - Schedule of Revenue and Assets From Geographical Location (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Regions are the filer's own and are not mapped onto a standard list — one company's “Americas” and another's “United States” are different areas, and making them look comparable would mean making at least one of them wrong. Slices under 1% are folded into “Other”.
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.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|
| Revenue | — | — | $12.3M | $16.1M | $108.5M | $164.9M |
| Gross profit | — | — | — | — | — | — |
| Net income | — | -$6.5M | -$877.1M | -$536.4M | -$206.3M | -$165.9M |
Recent filings and events
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Shareholder rights changed The terms attaching to the shares themselves have changed. Item 3.03
- Charter or fiscal year changed A change to the company's governing documents, or to when its year ends. Item 5.03
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Results announced Item 2.02
- Officer or director change Item 5.02
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Other event Item 8.01
- Officer or director change Item 5.02
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
Others in SIC 6163
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| FIGR | Figure Technology Solutions, Inc. | $5.14B | 52.7x | 48.7% |
| TREE | LendingTree, Inc. | $376.4M | 2.5x | 24.1% |
| FINV | FinVolution Group | — | — | 8.4% |