Summary by Moomoo AI
Better Home & Finance Holding Company (Better Home & Finance) reported financial results for the first quarter ended March 31, 2024. The company experienced a decrease in total net revenues to $22.25 million, down from $18.63 million in the same period last year. The decrease was primarily due to a reduction in gain on sale of loans, net, and other revenue, partially offset by an increase in net interest income. The company's net loss for the quarter was $51.49 million, an improvement from a net loss of $87.62 million in the prior year's first quarter. Despite the net loss, the company's gain on sale margin improved to 2.37% from 1.51% year-over-year. Better Home & Finance also faced challenges with Nasdaq compliance, as its Class A common...Show More