Better Reports Q1 Revenue of $47.5M, Loan Volume Up 89% YoY

Reports Q1 revenue $47.5M, consensus $47.7M. "Q1 2026 was a strong quarter for Better. We grew loan volume 89% year over year and exceeded the high end of our previously-issued guidance with revenue up 52% year over year. Tinman AI platform volume made up 50% of our loan volume, a level we expect to build from," said Vishal Garg, CEO and Founder of Better. "Going into Q2, the higher-rate macro environment is shifting our mix toward HELOCs, and we are leaning into that shift. HELOCs come in at lower loan balance than refinance, but they carry higher gain on sale margins, which is driving meaningful revenue growth in Q2. And in the month of April alone, our top of funnel increased dramatically as our existing partnership pre-approval volume 2x'ed within the month, to grow from $100 million per day to a $200 million per day as one of our larger partners increased customer exposure to our product. This is a huge reservoir of pent-up customer demand, that while it may hesitate to lock and fund immediately now due to the uncertainty in the Middle East and elevated rates, it will unlock into massive volume and revenue growth once things settle down. Combined with the capital and cost actions we took earlier this year, we are well-positioned to continue advancing toward profitability."