Better Home & Finance Reports Improved 2024 Results

Aurora Acquisition Corp. Class A ( (BETR) ) has released its Q4 earnings. Here is a breakdown of the information Aurora Acquisition Corp. Class A presented to its investors.

Better Home & Finance Holding Company, a New York-based digitally native homeownership company, leverages AI technology to streamline the mortgage process, offering a range of mortgage products across the United States and the United Kingdom.

In its 2024 financial report, Better Home & Finance reported a significant increase in revenue to $108 million, up from $72 million in 2023, and a reduced net loss of $206 million compared to the previous year’s $536 million loss. The company highlighted growth in its AI and ‘NEO Powered by Better’ initiatives despite challenging macroeconomic conditions.

Key financial metrics showed improvement, with an adjusted EBITDA loss of $121 million, down from $163 million in 2023. The company funded approximately $3.6 billion in loans, marking an increase from $3.0 billion in the previous year. Notably, the direct-to-consumer loan volume rose by 55% year-over-year, comprising 71% of the total funded loan volume.

The company is optimistic about its path to profitability, emphasizing ongoing investments in efficiency and cost management. Despite uncertainties in the rate environment, Better Home & Finance is focused on expanding its distribution channels and leveraging AI to enhance operational leverage.

Looking forward, Better Home & Finance aims to continue its strategic initiatives, including the expansion of its AI capabilities and the diversification of its offerings, while managing costs and improving profitability through strategic dispositions of non-core assets.