Summary by Moomoo AI
BETTER HOME & FINANCE HOLDING (BETR.US) has reported a challenging financial year, with a significant decrease in revenue and an increase in net loss. The company's revenue for the year ended December 31, 2023, was $76.8 million, a substantial decline from $378.0 million in the previous year. This decrease was primarily due to a reduction in mortgage platform revenue and a significant drop in cash offer program revenue. The net loss widened to $536.4 million, compared to a net loss of $877.1 million in the prior year. Despite the losses, the company saw an improvement in its Gain on Sale Margin, which increased to 2.03% from 0.89%. BETTER HOME & FINANCE HOLDING's business development faced headwinds, with a decrease in funded loan volume and a strategic decision...Show More