Better Home & Finance Appoints Daniel Lewis Interim Chief Executive Officer
Better Home & Finance announced that founder and CEO Vishal Garg has stepped down, effective immediately, and has been replaced on an interim basis by board member Daniel Lewis. The company reported preliminary Q2 results with funded loan volume of $1.67 billion (up 45% YoY) and revenue of $54.7 million (up 28% YoY), though it recorded a net loss of $30.6 million. Better is sharpening its strategy around a platform model and expects annualized cost reductions to exceed $45 million by year-end, significantly higher than its prior $25 million target.
Key figures
- Revenue
- $54.7 million
- Guidance
- Annualized cost reductions expected to exceed $45 million by year-end
- Revenue Yoy
- 28%
- Net loss
- $30.6 million
- Adjusted ebitda
- -$14.0 million
- Customers served
- 600000
- Funded loan volume
- $1.67 billion
- Funded loan volume yoy
- 45%
- Total loan volume history
- $110 billion
AI analysis
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