Better Home & Finance Misses September Break‑Even Target After CEO Change

Better Home & Finance reported a 38% year‑over‑year increase in second‑quarter loan volume to $1.67 billion and a 28% rise in net revenue to $54.7 million. Adjusted EBITDA loss narrowed, but the company now expects to miss its September adjusted‑EBITDA break‑even goal. Interim chief executive Daniel Lewis, who took over after founder Vishal Garg stepped down, said the firm must first prove consistent execution, cost reductions and profitable conversion of its enterprise pipeline before setting a new target. The earnings call highlighted a shift toward platform‑originated loans, which now account for 55% of volume, and a growing share of home‑equity lines of credit (HELOCs) in the loan mix. The outlook for the third quarter was lowered, with guidance indicating loan‑volume growth of about 20% and continued focus on contribution margin rather than pure volume growth.