Better Home & Finance Holding Company (BETR)

Nasdaq: BETR · Loan Brokers · New York, NY · filing with the SEC since 2020

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Grade3.0

◀ Past 1.8● Present 2.8▶ Future 5.3

1 est.

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The grade of Better Home & Finance Holding Company

Nine metrics read from its own filings, by tense

Headline grade

3.0/10

◀ Past1.840% of the headline

● Present2.835% of the headline

▶ Future5.325% of the headline

All three tenses have at least two readings, so the archetype blend applies as printed.

Of the nine metrics, 8 read as filed from the record and 1 is an SI estimate, each with its reasoning, its confidence and what would change it on its card.

◀ Past

What did they actually do?

1.8/1040% of the headline grade · 2 of 3 filed, 1 estimated

Surviving crises

as filed

0.8/10

Has it survived what it has been through?

17 warning events since 2020; the latest 2026-10-14.

weight 45% of this tense · 8th percentile among 20 sector filers · read for itself

From the record

Better Home & Finance Holding Company's filings since 2020 show 17 warning events of 4 kinds: a notice about its exchange listing (8-K item 3.01, 8 times, the latest 2026-10-14); a warning not to rely on past financial statements (8-K item 4.02, 3 times, the latest 2023-03-29); an auditor change (8-K item 4.01, 2 times, the latest 2026-03-19); a late-report notice (Form NT 10-K or NT 10-Q, 4 times, the latest 2026-08-11) (its current reports).

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Track record

as filed

3.0/10

What has it actually done, year after year?

+137.4% a year over 4 filed years; profitable in 0 of 4.

weight 22% of this tense · 30th percentile among 19 sector filers · read for its customers

From the record

Better Home & Finance Holding Company's 4 filed years say what it did: revenue went from $12 million in fiscal 2022 to $165 million in fiscal 2025, up 137.4% a year; it rose in 1 of 2 years; the deepest fall was 100% from fiscal 2022 to fiscal 2023; net income was positive in 0 of 4 of those years (its annual reports).

What it rests on

revenue growth over the filed span137.4%top 3% of its family
the share of years revenue rosebottom 13% of its family
the share of filed years with a profitbottom 8% of its family
the deepest fall from a revenue peak100.0%bottom 3% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Shareholder treatment

SI estimate

2.5/10

How has it treated the people who own it?

SI estimate 2.5/10, confidence 35 of 100 (one part).

weight 33% of this tense · 25th percentile among 19 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate: Read from one part only, the share count over the years, which ranks in the bottom 25% of 19 in its family; fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income.
What the record cannot read: Fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income.
How it was reasoned: one part: the share count over the years, the one part on file, ranked among 19 in its family.
Confidence: 35 of 100
What would change it: A filing that carries the missing parts replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: Better Home & Finance Holding Company's shareholder treatment is put at 2.5 of 10 with a confidence of 35 of 100, because read from one part only, the share count over the years, which ranks in the bottom 25% of 19 in its family; fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income. A filing that carries the missing parts replaces this estimate with the filed reading.

● Present

What are they doing right now?

2.8/1035% of the headline grade · 3 of 3 filed

Financial health

as filed

2.2/10

Is it financially healthy right now?

ROE -446%: lost 446¢ per shareholder dollar. Leverage 98%: owes 98¢ per asset dollar.

weight 45% of this tense · 22nd percentile among 19 sector filers · read for itself

From the record

Return on equity: in the fiscal year ended 2025-12-31, Better Home & Finance Holding Company lost about 446 cents for every dollar of shareholders' money. Leverage: it owed about 98 cents per dollar of assets, and net share issuance: its share count grew 1.6% over the year (the filed statements).

What it rests on

what it owes per dollar of assetsbottom 8% of its family
return on equitybottom 3% of its family
the share count against the year beforetop 44% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Industry position

as filed

4.9/10

How strong is its position in its industry?

bottom 49% of 19 in its family; net margin -100.6%.

weight 33% of this tense · 49th percentile among 19 sector filers · read for its customers

From the record

Better Home & Finance Holding Company's standing among 19 graded names in its industry family: revenue of $165 million in fiscal 2025 ranks in the bottom 32% by size; a net margin of -100.6% ranks in the bottom 18%; revenue growth of 137.4% a year over the last 3 filed years ranks in the top 3% (its annual reports).

What it rests on

revenue against the family$165Mbottom 32% of its family
net margin-100.6%bottom 18% of its family
three-year revenue growth137.4%top 3% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Leadership

as filed

0.8/10

What are the people in charge doing?

bottom 8% of 14 in its family for leadership; chief executive since 2026.

weight 22% of this tense · 8th percentile among 14 sector filers · read for its shareholders

From the record

Better Home & Finance Holding Company's leadership, from its insiders' filings and its current reports: the chief executive on the record is Lewis, Daniel Seth (Interim CEO, as filed), filing under that title since 2026-08-06, 3 months (bottom 4% of its family); most of the 16 officers and directors filing now have filed since the record of its people begins (2023-08-23), a floor of 2.9 years the record cannot see past, so that part is not read; 18 officer or director changes were reported on Form 8-K since 2023-11-13, against the 16 people in charge now (bottom 13%; fewer changes for each person reads higher) (the Form 4 record, its Form 8-K reports). Years count from a person's first filing in the SEC's data sets, which begin in 2006, so each is a floor.

What it rests on

officer and director changes on Form 8-K, against the people in charge18 in three years among 16 peoplebottom 13% of its family
the chief executive's years on the record4 monthsbottom 4% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

▶ Future

What are they set up to do next?

5.3/1025% of the headline grade · 3 of 3 filed

Room to expand

as filed

6.1/10

How much room does it have to grow?

top 39% of 19 in its family for room to expand.

weight 33% of this tense · 61st percentile among 19 sector filers · read for itself

From the record

Better Home & Finance Holding Company's room to grow, from the newest filed statements (fiscal 2025): cash of $117 million against no long-term debt tagged leaves 7.7% of its assets as net cash, top 18% of its family; cash from operations less capital spending is -101.8% of revenue (bottom 13%); research spending of 16.9% of revenue (top 12%) (its annual report).

What it rests on

cash less debt against assets7.7%top 18% of its family
cash from operations less capital spending against revenue-101.8%bottom 13% of its family
research spending against revenue16.9%top 12% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Growth drivers

as filed

3.6/10

What could actually drive growth from here?

bottom 36% of 19 in its family for growth drivers.

weight 33% of this tense · 36th percentile among 19 sector filers · read for its customers

From the record

Better Home & Finance Holding Company's growth drivers, from the filed years to fiscal 2025: revenue grew 137.4% a year over the last three filed years against 137.4% over all 4, speeding up (bottom 45% of its family); the newest year grew 52% (top 13%); research spending grew -39.2% a year (bottom 8%); capital spending grew -53.3% a year (bottom 4%) (its annual reports). Better Home & Finance Holding Company reported 2 lines of business in fiscal 2025: Home Finance at $157 million, Banking at $198 thousand. 1 of 2 grew in the latest filed year, and the largest line is 100% of revenue (its annual report).

What it rests on

three-year growth against the whole span+0.0 points a yearbottom 45% of its family
the newest year's revenue growth52.0%top 13% of its family
three-year growth of research spending-39.2%bottom 8% of its family
three-year growth of capital spending-53.3%bottom 4% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Expectations vs reality

as filed

6.2/10

Did its newest year beat what its own record pointed to?

top 38% of 17 in its family for expectations against reality.

weight 33% of this tense · 62nd percentile among 17 sector filers · read for its shareholders

From the record

Better Home & Finance Holding Company's newest year against its own record: revenue of $165 million in fiscal 2025 came in 48.8% below the $322 million its prior three years' pace pointed to (bottom 15% of its family); net income of $166 million against a prior three-year average of $540 million (top 26%); a net margin of a loss larger than its revenue against losses larger than its revenue before (top 3%) (its annual reports).

What it rests on

revenue against the prior three years' pace-48.8%bottom 15% of its family
net income against the prior three years' average+69%top 26% of its family
net margin against its prior averageup more than 100 pointstop 3% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

The grade is the company against its own industry, from its filings. It is not a view on the share price. How the grade is made

SI Assistanton BETR · research, not advice