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Financial Analysis

Filing-based analysis. Market pricing is not included. Fundamentals from SEC filings; economic data from FRED and the BLS. About our data

Fundamentals

Better Home & Finance Holding Co BETR

· Financials · Loan Brokers

FY2025 10-K, filed 2026-03-13
SEC EDGAR

Filing evidence summary

Caution evidenceCoverage 4/5 core metrics

Latest reported annual revenue changed -12.3% from the prior reported annual observation.

Backward-looking filed evidence under visible rules - not a rating, forecast or investment advice. Missing data is never scored.

Evidence signals

  • Revenue contracted

    Latest reported annual revenue changed -12.3% from the prior reported annual observation.

    Why this surfaced

    Direction threshold: above +2% constructive; below -2% caution; otherwise monitor. This is not labeled one-year growth when filing periods have a gap. Period end 2025-12-31.

  • Free cash flow was negative

    Latest reported free cash flow was -$168M.

    Why this surfaced

    Free cash flow = operating cash flow minus capital expenditures; positive is supporting evidence, not a valuation conclusion. Period end 2025-12-31.

  • 2 filing risk checks flagged

    Flagged areas: Solvency & liquidity, Dilution.

    Why this surfaced

    The full financial analysis shows each value, threshold, and sector limitation.

Core trend metrics

Latest annual revenue growth
-12.3%
as of 2025-12-31
Latest annual operating margin
-1808.2%
as of 2023-12-31
Free cash flow
-$168M
as of 2025-12-31
ROIC snapshot
-397.4%
period varies

Hover a tile for its exact definition; the Statements tab carries per-cell filing citations.

Where to look next

Risk checks

2of 3 rule-based checks flagged
  • Solvency & liquidity
  • Dilution

Financial movement

  • Cash→ flat
  • Long-term debt→ flat
  • Inventory→ flat
  • Receivables→ flat
  • Current assets→ flat

Source & freshness

Source
SEC EDGAR XBRL
Fetched
2026-09-06
Latest period end
2025-12-31
Filings
EDGAR ↗

Reported segment mix

figures as filed · share of the filed sum · change vs the prior period in the same filing
Fiscal year ending 2025-12-3110-K filed 2026-03-13prior period 2024-12-31 from the same filingView filing
By product or service
Revenue
  • Other Platform International Lending Revenue$5.18M
    45.9%
    +29.7% yoy
  • Other Platform Insurance Services$2.54M
    22.4%
    -26.8% yoy
  • Other Platform Real Estate Services$1.9M
    16.8%
    -23.2% yoy
  • Other Platform Other Revenue$1.68M
    14.9%
    -43.0% yoy

Members sum to the consolidated $11.3M for this period.

By geography
Revenue
  • United States$139M
    share n/a
    +60.2% yoy
  • Outside the United States$26M
    share n/a
    +19.3% yoy

member sum exceeds the consolidated figure: this axis carries more than one breakdown, so shares are not computed.

Latest quarter
Quarter ending 2026-03-3110-Q filed 2026-05-11prior period 2025-03-31 from the same filingView filing
  • Other Platform Insurance Services$578K
    50.6%
    -14.1% yoy
  • Other Platform Other Revenue$347K
    30.4%
    -29.5% yoy
  • Other Platform Real Estate Services$170K
    14.9%
    -82.0% yoy
  • Other Platform International Lending Revenue$47K
    4.1%
    -96.9% yoy

Change is against the same quarter a year earlier, as reported in the same 10-Q.

Source: SEC DERA Financial Statement and Notes data sets. Dimensional XBRL facts on the business-segment, product/service and geographic axes; the engine keeps the accession of every figure. Descriptive and educational, not advice.

Peer percentiles

latest fiscal year ending 2025-12-31 · among 4,122 US-listed filers · 907 in Financials
MetricValuevs all filersvs sector
Revenue
latest fiscal-year revenue as filed
$11M
12thof 3,301
bottom third
14thof 541
bottom third
Revenue growth
latest fiscal-year revenue vs the prior fiscal year
-12.3%
11thof 3,135
bottom third
9thof 518
bottom third
Net margin
net income ÷ revenue
-1468.0%
5thof 3,263
bottom third
4thof 534
bottom third
Free-cash-flow margin
(operating cash flow − |capex|) ÷ revenue
-1484.8%
4thof 2,679
bottom third
2ndof 307
bottom third
Return on equity
net income ÷ stockholders' equity (positive equity only)
-446.1%
2ndof 3,577
bottom third
1stof 774
bottom third
Stock comp ÷ revenue
stock-based compensation ÷ revenue · lower is ranked higher
180.8%
5thof 2,895
bottom third
4thof 422
bottom third
Cash-flow accrual ratio
(net income − operating cash flow) ÷ average total assets · lower is ranked higher
0.1%
18thof 3,577
bottom third
29thof 804
bottom third
Balance-sheet accrual ratio
change in net operating assets ÷ average net operating assets · lower is ranked higher
-124.5%
95thof 3,059
top third
97thof 734
top third

Each filer's latest fiscal year as stored by the nightly crawl; fiscal year ends differ across the universe. A metric ranks only filers for which it is computable from filed facts. Ties split; a rank reads "better than N% of filers" in the metric's own direction. Descriptive and educational, not a rating.

Earnings quality

latest fiscal year ending 2025-12-31 · accruals and cash conversion as filed
Cash conversion
-
operating cash flow ÷ net income, latest fiscal year
Cash-flow accrual ratio
0.1%
(net income − operating cash flow) ÷ average total assets
Balance-sheet accrual ratio
-124.5%
change in net operating assets ÷ average net operating assets
Cash-backed years
1 of 3
fiscal years where operating cash flow met or exceeded net income
Mean cash conversion
-
across the stored fiscal years with positive net income

Per fiscal year from filed facts: cash conversion = operating cash flow / net income (net income > 0); cash-flow accrual ratio = (net income - operating cash flow) / average total assets; balance-sheet accrual ratio = change in net operating assets / average net operating assets, NOA = (assets - cash) - (liabilities - debt). Descriptive; a missing input yields a missing ratio. High accrual ratios and cash conversion well below one are the measures the accruals literature associates with less persistent earnings; they are screens to read the cash-flow statement with, not conclusions. The per-year series is part of Pro risk analysis.

Point-in-time ledger

first-reported vs latest filing · periods since 2020-01-01 · 60 changed periods, 27 largest shown
Line itemPeriodFirst reportedLatest filingChangeFilings
Cash
CashAndCashEquivalentsAtCarryingValue
balance at 2022-12-31$285K
10-K 2023-04-17
$318M
10-K 2024-04-08
+111344.5%first · latest · 5 filings carry it
Operating cash flow
NetCashProvidedByUsedInOperatingActivities
fiscal year 2022-12-31-$1.15M
10-K 2023-04-17
$938M
10-K 2024-04-08
+81514.4%first · latest
Stockholders' equity
StockholdersEquity
balance at 2023-06-30$923K
10-Q 2023-08-04
-$726M
10-Q 2024-11-14
-78822.5%first · latest · 5 filings carry it
Net income
NetIncomeLoss
quarter 2023-03-31-$128K
10-Q 2023-05-12
-$87.6M
10-Q 2024-05-15
-68378.8%first · latest · 4 filings carry it
Stockholders' equity
StockholdersEquity
balance at 2023-03-31$1.77M
10-Q 2023-05-12
-$687M
10-Q 2024-05-15
-38829.7%first · latest · 4 filings carry it
Net income
NetIncomeLoss
quarter 2022-09-30-$966K
10-Q 2022-11-14
-$227M
10-Q 2023-11-14
-23367.7%first · latest · 3 filings carry it
Cash
CashAndCashEquivalentsAtCarryingValue
balance at 2023-03-31$992K
10-Q 2023-05-12
$225M
10-Q 2024-05-15
+22627.9%first · latest
Net income
NetIncomeLoss
fiscal year 2022-12-31$8.74M
10-K 2023-04-17
-$877M
10-K 2024-04-08
-10140.3%first · latest
Operating income
OperatingIncomeLoss
fiscal year 2022-12-31-$8.58M
10-K 2023-04-17
-$859M
10-K 2024-04-08
-9913.6%first · latest
Cash
CashAndCashEquivalentsAtCarryingValue
balance at 2023-06-30$1.23M
10-Q 2023-08-04
$110M
10-Q 2024-08-14
+8845.1%first · latest
Cash
CashAndCashEquivalentsAtCarryingValue
balance at 2022-09-30$4.66M
10-Q 2022-11-14
$398M
10-Q 2023-11-14
+8449.2%first · latest · 3 filings carry it
Total liabilities
Liabilities
balance at 2022-12-31$15.5M
10-K 2023-04-17
$1.25B
10-K 2024-04-08
+7974.2%first · latest · 5 filings carry it
Total liabilities
Liabilities
balance at 2023-03-31$18.2M
10-Q 2023-05-12
$1.33B
10-K 2024-04-08
+7189.9%first · latest
Total liabilities
Liabilities
balance at 2023-06-30$20.7M
10-Q 2023-08-04
$1.22B
10-K 2024-04-08
+5757.7%first · latest
Operating cash flow
NetCashProvidedByUsedInOperatingActivities
quarter 2023-03-31$3.11M
10-Q 2023-05-12
-$163M
10-Q 2024-05-15
-5339.7%first · latest · 3 filings carry it
Net income
NetIncomeLoss
quarter 2023-06-30-$831K
10-Q 2023-08-04
-$44M
10-Q 2024-08-14
-5195.2%first · latest
Operating income
OperatingIncomeLoss
quarter 2022-09-30-$3.41M
10-Q 2022-11-14
-$177M
10-Q 2023-11-14
-5099.9%first · latest · 3 filings carry it
Total assets
Assets
balance at 2023-03-31$22.2M
10-Q 2023-05-12
$1.08B
10-K 2024-04-08
+4758.5%first · latest
Operating income
OperatingIncomeLoss
quarter 2023-03-31-$1.83M
10-Q 2023-05-12
-$84.7M
10-K 2024-04-08
-4524.5%first · latest
Total assets
Assets
balance at 2023-06-30$23.9M
10-Q 2023-08-04
$925M
10-K 2024-04-08
+3776.2%first · latest
Stockholders' equity
StockholdersEquity
balance at 2021-12-31$7.21M
10-K 2022-03-25
$243M
10-K 2024-04-08
+3266.1%first · latest · 13 filings carry it
Stockholders' equity
StockholdersEquity
balance at 2022-12-31$20.6M
10-K 2023-04-17
-$604M
10-Q 2024-11-14
-3036.0%first · latest · 6 filings carry it
Stockholders' equity
StockholdersEquity
balance at 2022-09-30$15.9M
10-Q 2022-11-14
-$355M
10-Q 2023-11-14
-2335.6%first · latest · 3 filings carry it
Basic shares
WeightedAverageNumberOfSharesOutstandingBasic
fiscal year 2022-12-3124,300,287 shares
10-K 2023-04-17
291,302,441 shares
10-K 2024-04-08
+1098.8%first · latest
Stockholders' equity
StockholdersEquity
balance at 2022-06-30$18.3M
10-Q 2022-08-15
-$139M
10-Q 2023-11-14
-859.7%first · latest · 6 filings carry it
Total assets
Assets
balance at 2022-12-31$283M
10-K 2023-04-17
$1.08B
10-K 2024-04-08
+283.2%first · latest · 5 filings carry it
Share repurchases
PaymentsForRepurchaseOfCommonStock
quarter 2023-03-31$263M
10-Q 2023-05-12
$104K
10-Q 2024-05-15
-100.0%first · latest

3 share-count periods re-presented for a stock split (1-for-50) are listed apart from restatements and not counted above.

First filing reporting each period vs the latest filing carrying it (10-K and 10-Q only, periods since 2020, the extractor's winning tag per concept); a change under 0.5% is treated as rounding. A change can be a restatement, a reclassification or a re-tagging in a later comparative column; the two filings are linked so the reader can see which. Descriptive, not a verdict.

Notes by disclosure type

Not available for BETR yet: no footnote text blocks on file for this filer in the ingested DERA files.

Fundamentals from SEC EDGAR. Scores, the DCF, and every model shown are educational analysis, not investment advice or price predictions.

Educational content only. Not financial advice. TrendNalysis provides educational and informational financial analysis built from public SEC filings and economic data (FRED, BLS). It is not financial, investment, tax, or legal advice and is not a recommendation to buy or sell any security. Market pricing is not currently included. Past performance does not guarantee future results. Always do your own research and consult a licensed financial professional before investing.