A Business at a Glance
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The Business Combination On August 22, 2023, we consummated the transactions contemplated by the Agreement and Plan of Merger (as amended, the “Merger Agreement”), by and among Aurora Acquisition Corp. (“Aurora”), Better Holdco, Inc. (“Pre-Business Combination Better”), and Aurora Merger Sub I, Inc., formerly a wholly owned subsidiary of Aurora (“Merger Sub”). In connection with the closing of the transactions contemplated by the Merger Agreement, the Company’s Class A Common Stock and Warrants began trading on the Nasdaq Global Market and Nasdaq Capital Market, respectively, under the ticker symbols “BETR” and BETRW.” On March 13, 2024, the listing of the Company’s Class A Common Stock and warrants transferred from the Nasdaq Global Market to the Nasdaq Capital Market.
| Metric | TTM | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|
| Revenue | 14M | - | - | - |
| Net Income | -185M | -206M | -536M | -877M |
| EPS | $-12.18 | $-13.65 | $-58.09 | $-150.50 |
| Free Cash Flow | -217M | -383M | -160M | 927M |
| ROIC | -423.8% | -54.1% | -297.8% | -62.6% |
| Gross Margin | - | - | - | - |
| Debt/Equity | 0.00 | -16.70 | 6.39 | -2.79 |
| Dividends/Share | $0.00 | - | - | - |
| Operating Income | -28M | -17M | -462M | -859M |
| Operating Margin | -199.5% | - | - | - |
| ROE | -441.8% | -640.4% | -437.5% | - |
| Shares Outstanding | 10M | 15M | 9M | 6M |
| Metric | 2022 | |||
|---|---|---|---|---|
| Income Statement | ||||
| Revenue | N/A | N/A | N/A | 14M |
| Gross Margin | N/A | N/A | N/A | N/A |
| R&D | N/A | N/A | N/A | N/A |
| SG&A | N/A | N/A | N/A | N/A |
| EBIT | -859M | -462M | -17M | -28M |
| Op. Margin | N/A | N/A | N/A | -199.5% |
| Net Income | -877M | -536M | -206M | -185M |
| Net Margin | N/A | N/A | N/A | -1301.6% |
| Non-Recurring | 246M | 0 | 0 | 0 |
| Returns on Capital | ||||
| ROIC | -62.6% | N/M | -54.1% | N/M |
| ROE | N/A | -437.5% | -640.4% | -441.8% |
| ROA | -81.0% | -59.2% | -22.7% | -3500.5% |
| Cash Flow | ||||
| Op. Cash Flow | 938M | -160M | -380M | -215M |
| Free Cash Flow | 927M | -160M | -383M | -217M |
| Owner Earnings | 894M | -220M | -414M | -249M |
| CapEx | 12M | 456K | 3.4M | 1.3M |
| Maint. CapEx | 14M | 5.8M | 7.1M | 7.1M |
| Growth CapEx | 0 | 0 | 0 | 0 |
| D&A | 14M | 5.8M | 7.1M | 7.1M |
| CapEx/OCF | 1.3% | N/A | N/A | 0.0% |
| Capital Allocation | ||||
| Dividends Paid | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A |
| Share Buybacks | 7.9M | 0 | 0 | 0 |
| Buyback Yield | 0.3% | N/A | N/A | 0.0% |
| Stock-Based Comp | 31M | 54M | 27M | 27M |
| Debt Repayment | 0 | 3.6M | 0 | 0 |
| Balance Sheet | ||||
| Net Debt | N/A | N/A | N/A | -206M |
| Cash & Equiv. | N/A | N/A | N/A | 206M |
| Long-Term Debt | N/A | N/A | N/A | N/A |
| Debt/Equity | -2.79 | 6.39 | -16.70 | 0.00 |
| Interest Coverage | -50.3 | -6.4 | -0.2 | -0.2 |
| Equity | -604M | 123M | -58M | 42M |
| Total Assets | 1.1B | 906M | 913M | 5.3M |
| Total Liabilities | 1.7B | 783M | 971M | 7.3M |
| Intangibles | 79M | 71M | 45M | 45M |
| Retained Earnings | -1.2B | -1.7B | -1.9B | -1.9B |
| Working Capital | N/A | N/A | N/A | N/A |
| Current Assets | N/A | N/A | N/A | N/A |
| Current Liabilities | 82M | 67M | 48M | 48M |
| Per Share Data | ||||
| EPS | -150.50 | -58.09 | -13.65 | -12.18 |
| Owner EPS | 153.41 | -23.79 | -27.38 | -25.28 |
| Book Value | -103.67 | 13.28 | -3.85 | 4.25 |
| Cash Flow/Share | 161.00 | -17.30 | -25.14 | -18.07 |
| Dividends/Share | N/A | N/A | N/A | 0.00 |
| Shares Out. | 5.8M | 9.2M | 15.1M | 9.9M |
| Valuation | ||||
| P/E Ratio | N/A | N/A | N/A | -2.9 |
| P/FCF | 3.2 | N/A | N/A | N/A |
| EV/EBIT | N/A | N/A | N/A | N/A |
| Price/Book | N/A | 3.2 | N/A | 8.2 |
| Price/Sales | N/A | N/A | N/A | 24.3 |
| FCF Yield | 31.7% | -40.3% | -253.4% | -62.7% |
| Market Cap | 2.9B | 397M | 151M | 346M |
| Avg. Price | 493.75 | 442.49 | 20.88 | 35.08 |
| Year-End Price | 501.50 | 43.00 | 10.01 | 35.08 |
Better Home & Finance Holding Co passes 1 of 9 quality checks, indicating weak fundamentals.
At current prices, the estimated annualized return to fair value is -24.8%.
Better Home & Finance Holding Co (BETR) has a 5-year average return on invested capital (ROIC) of -58.4%. This is below average and may indicate limited pricing power.
Better Home & Finance Holding Co (BETR) has a market capitalization of $346M. It is classified as a small-cap stock.
Better Home & Finance Holding Co (BETR) does not currently pay a regular dividend.
Better Home & Finance Holding Co (BETR) operates in the Loan Brokers industry, within the Financials sector.
Better Home & Finance Holding Co (BETR) generated $-383 million in free cash flow in its most recent fiscal year. Negative free cash flow may indicate heavy investment or operational challenges.
Better Home & Finance Holding Co (BETR) reported earnings per share (EPS) of $-13.65 in its most recent fiscal year.
Better Home & Finance Holding Co (BETR) has a return on equity (ROE) of -640.4%. A negative ROE may indicate losses or negative equity.
The Ledger Terminal provides 3 years of financial data for Better Home & Finance Holding Co (BETR), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Better Home & Finance Holding Co (BETR) has a book value per share of $-3.85, based on its most recent annual SEC filing.
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