Core Insights - BetterLife Pharma Inc. is focused on developing and commercializing innovative treatments for mental disorders, specifically through its compounds BETR-001 and BETR-002 [1][9] - BETR-001, a non-hallucinogenic derivative of LSD, is currently in preclinical and IND-enabling studies, with a pending patent for its composition and method of use targeting major depressive disorder, anxiety disorder, and neuropathic pain [5][9] - The company is collaborating with researchers from Carleton University to present findings on BETR-001 at the FENS conference, highlighting its potential therapeutic effects on neuroplasticity and neurotransmission [1][8] Company Overview - BetterLife Pharma is an emerging biotechnology company primarily focused on neuro-psychiatric and neurological disorders [9] - The company also has a drug candidate aimed at treating viral infections and is exploring strategic alternatives for its further development [10] Research and Development - BETR-002 is based on honokiol, an active ingredient from magnolia bark, and is in preclinical studies targeting anxiety-related disorders, including benzodiazepine dependency [3] - Recent preclinical findings indicate that BETR-001 activates key signaling pathways related to depressive disorders and may also be effective in treating neurodegeneration and addiction disorders [5][8]

Financial Performance - The company reported a net loss attributable to common stockholders of $51.5 million for the three months ended March 31, 2024, compared to a net loss of $87.6 million for the same period in 2023[264]. - The diluted earnings per share for the company was $(0.07) for the three months ended March 31, 2024, compared to $(0.29) for the same period in 2023[264]. - Total net revenues for the three months ended March 31, 2024, were $22.251 million, an increase from $18.626 million in the same period of 2023[290]. - Gain on loans, net, was $15.652 million, representing 70% of total net revenues, compared to $12.761 million (69%) in the prior year[291]. - Adjusted Net Loss for the three months ended March 31, 2024, was $(42,834) thousand, an improvement from $(72,743) thousand for the same period in 2023, reflecting a decrease of approximately 41%[405]. - Adjusted EBITDA for the three months ended March 31, 2024, was $(30,953) thousand, compared to $(57,152) thousand for the same period in 2023, indicating a reduction of about 46%[405]. - The net loss for the three months ended March 31, 2024, was $(51,492) thousand, compared to $(87,622) thousand for the same period in 2023, representing a 41% improvement[405]. Assets and Liabilities - Total assets as of March 31, 2024, were $166.2 million, a decrease from $171.9 million as of December 31, 2023[266]. - The company had total liabilities of $638,000 as of March 31, 2024, compared to $3.3 million as of December 31, 2023[266]. - The company had outstanding promissory notes totaling $17.9 million as of March 31, 2024, compared to $18.3 million as of December 31, 2023[281]. - As of March 31, 2024, the company had outstanding commitments to fund mortgage loans totaling approximately $262.7 million, up from $227.4 million as of December 31, 2023[410]. - The company has warehouse lines of credit totaling $425,000 thousand, with an amount outstanding of $126,161 thousand as of March 31, 2024, slightly down from $126,218 thousand as of December 31, 2023[407]. Revenue Streams - Refinance Loan Volume increased by approximately 16% to $81 million from $70 million year-over-year[296]. - HELOC Loan Volume surged to $51 million in Q1 2024, up from $2 million in Q1 2023[297]. - B2B Loan Volume decreased by approximately 16% to $301 million from $359 million year-over-year[298]. - Average Loan Amount decreased by approximately 7% to $332,111 from $357,792 in the same period last year[301]. - Funded Loan Volume decreased by approximately 22% to $661 million from $847 million year-over-year[326]. - Purchase Loan Volume decreased by approximately 32% to $529 million from $775 million in the same period last year[327]. - D2C Loan Volume decreased by approximately 26% to $360 million for the three months ended March 31, 2024, compared to $488 million for the same period in 2023[328]. - Total Loans funded decreased by approximately 16% to 1,991 for the three months ended March 31, 2024, down from 2,366 in the same period in 2023[330]. - Gain on Sale Margin increased by approximately 57% to 2.37% for the three months ended March 31, 2024, compared to 1.51% for the same period in 2023[332]. Expenses - Stock-based compensation expense increased to $8.760 million in Q1 2024 from $4.408 million in Q1 2023[311]. - Marketing and advertising expenses decreased by $3.2 million, or 41%, to $4.6 million for the three months ended March 31, 2024, compared to $7.8 million in the same period in 2023[358]. - General and administrative expenses decreased by $2.7 million, or 16%, to $14.0 million for the three months ended March 31, 2024, compared to $16.8 million for the same period in 2023[374]. - Technology expenses decreased by $9.0 million, or 62%, to $5.5 million for the three months ended March 31, 2024, compared to $14.4 million for the same period in 2023[397]. - Other expenses decreased by $11.2 million, or 102%, to $0.2 million for the three months ended March 31, 2024, compared to $11.1 million for the same period in 2023[375]. Tax and Compliance - The company recorded a total income tax expense of $0.1 million for the three months ended March 31, 2024, down from $1.4 million for the same period in 2023[274]. - The company is subject to financial requirements established by government-sponsored enterprises (GSEs) and has remained in compliance as of March 31, 2024[284]. - The company received an extension from Nasdaq until October 7, 2024, to comply with the $1.00 per share requirement for continued inclusion on The Nasdaq Capital Market[407]. Other Financial Metrics - The change in fair value of warrants for the three months ended March 31, 2024, was a gain of none, while for the same period in 2023, it was a gain of $0.6 million[278]. - The change in the fair value of warrants and equity-related liabilities was $(823) thousand for the three months ended March 31, 2024, with no comparable figure for the same period in 2023[405]. - The company had a restructuring, impairment, and other expenses of $721 thousand for the three months ended March 31, 2024, down from $9,137 thousand for the same period in 2023[405]. - Interest income from investments increased by $3.2 million, or 130%, to $5.67 million for the three months ended March 31, 2024, compared to $2.47 million for the same period in 2023[394]. - Mortgage interest income decreased by $0.96 million, or 24%, to $2.96 million for the three months ended March 31, 2024, compared to $3.93 million for the same period in 2023[371]. - International lending revenue increased by $0.1 million, or 12%, to $1.1 million for the three months ended March 31, 2024, compared to $1.0 million for the same period in 2023[351]. - Real estate services revenue decreased by $2.5 million, or 88%, to $0.3 million for the three months ended March 31, 2024, compared to $2.9 million for the same period in 2023[369]. - Integrated partnership fees decreased by $0.1 million, or 4%, to $2.3 million for the three months ended March 31, 2024, compared to $2.4 million for the same period in 2023[367]. - Other revenue increased by $0.3 million, or 58%, to $0.7 million for the three months ended March 31, 2024, compared to $0.5 million for the same period in 2023[370].

Better Home & Finance Holding Company (NASDAQ:BETR) Q1 2024 Earnings Conference Call May 14, 2024 8:30 AM ET Company Participants Hana Khosla - VP, Corporate Finance & IR Vishal Garg - Founder & CEO Kevin Ryan - CFO Conference Call Participants Ryan Tomasello - KBW Reginald Smith - J.P. Morgan Jamie Friedman - Susquehanna Operator Thank you for standing by. My name is Pam, and I will be your conference operator today. At this time, I would like to welcome everyone to the Better Home & Finance Holding Compan ...

• Strong quarter with Funded Loan Volume up 25% and Revenue up 26% in Q1'24 as compared to Q4'23 • Maintaining conviction in large addressable market and favorable consumer trends towards digitization and price transparency • Continued leaning into growth opportunities and expect Q2'24 Funded Loan Volume above $800 million • Continued strategic investments in Better's leading proprietary technology platform, Tinman™, to improve mortgage fulfillment efficiency • Focused on managing towards profitability whil ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ________________________________________ FORM 10-K ________________________________________ x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 001-40143 ________________________________________ Better Home & Finance Holding Company ___________ ...

Better Home & Finance Holding Company (NASDAQ:BETR) Q4 2023 Results Conference Call March 28, 2024 8:30 AM ET Company Participants Hana Khosla - VP, Corporate Finance & IR Vishal Garg - Founder, CEO Kevin Ryan - President, CFO Conference Call Participants Ryan Tomasello - KBW Michael Kaye - Wells Fargo Jeff Cantwell - Seaport Research Pete Heckmann - D.A. Davidson Reggie Smith - JPMorgan Operator Good morning. My name is Christa, and I will be your conference operator today. At this time, I would like to we ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Class A common stock, par value $0.0001 per share BETR The Nasdaq Stock Market LLC CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Better Home & Finance Holding Company (Exact name of registrant as specified in its charter) 3 World Trade Center 175 Greenwich Street, 57th Floor New York, NY 10007 (Address of principal executive offices) (Zip Code) (415) 523-8837 Registrant's telephone number, includi ...

NEW YORK--(BUSINESS WIRE)--Better Home & Finance Holding Company (NASDAQ: BETR), a leading digital homeownership company, today announced the launch of One Day HELOC (Home Equity Line of Credit) which will provide approval* decisions to consumers within 24 hours of locking their rate. Speed matters when it comes to customers accessing funds from their home equity — especially as they look to renovate their properties, consolidate debt, or fund a major expense. One-Day HELOC will offer the speed and conve ...

Andrii YalanskyiCherry Hill Mortgage Investment Corporation (CHMI) is an mREIT that earns income through the investment of mortgages. Like its peers, the company utilizes leverage (borrowing) to invest in and earn income from its assets. Since I last wrote about Cherry Hill two years ago, the restrictive rate regime put into place by the Federal Reserve has created a challenging environment for the company, but I believe that income investors can earn a great return with an investment in Cherry Hill’s B ...

NEW YORK--(BUSINESS WIRE)--Better Home & Finance Holding Company (NASDAQ: BETR) intends to announce its fourth quarter and full year 2023 financial results prior to the market opening on Thursday, March 28, 2024. A conference call and webcast to discuss those results will be held on the same day at 8:30 a.m. ET. Details to register for the live webcast and to listen to the call by phone will be available on the Company’s investor relations website located at investors.better.com and are included below. Ple ...