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BETTER 10Q - UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2023
Feb. 28, 2023
Dec. 31, 2022
Jun. 30, 2022
Dec. 31, 2021
Jan. 01, 2021
Dec. 31, 2020
Assets              
Cash and cash equivalents $ 109,922   $ 317,959 $ 523,932 $ 938,319    
Restricted cash 25,011   28,106 36,437 40,555    
Short-term investments 32,884   0        
Mortgage loans held for sale, at fair value 290,580   248,826   1,854,435    
Other receivables, net 15,238   16,285   54,162    
Property and equipment, net 18,909   30,504   40,959 $ 27,454 $ 20,718
Right-of-use assets 24,934   41,979   56,970 65,889 0
Internal use software and other intangible assets, net 52,882   61,996   72,489    
Goodwill 33,300   18,525 18,922 19,811   10,995
Derivative assets, at fair value 2,264   3,048   9,296    
Prepaid expenses and other assets 67,260   66,572   90,998    
Bifurcated derivative 237,667   236,603   0    
Loan commitment asset 16,119   16,119   121,723    
Total Assets 926,970   1,086,522   3,299,717 146,103 67,563
Liabilities              
Warehouse lines of credit 146,482   144,049   1,667,917    
Pre-Closing Bridge Notes 750,000   750,000   477,333    
Corporate line of credit, net 118,584   144,403   149,022    
Customer deposits 11,093   0        
Accounts payable and accrued expenses 108,175   88,983   133,256 134,729 123,849
Escrow payable 5,130   8,001   11,555    
Derivative liabilities, at fair value 785   1,828   2,382    
Convertible preferred stock warrants 2,830   3,096   31,997    
Lease liabilities 35,879 $ 13,000 60,049   73,657 69,566 0
Total other liabilities 43,980   59,933   76,158 44,690 47,588
Total Liabilities 1,222,938   1,260,342   2,623,277 248,985 171,437
Commitments and contingencies (see Note 11)        
Convertible preferred stock 436,280   436,280 436,280 436,280   409,688
Stockholders’ Equity (Deficit)              
Common stock 10   10   10    
Notes receivable from stockholders (56,254)   (53,900)   (38,633)    
Additional paid-in capital 642,551   626,628   571,501    
Retained earnings (1,316,823)   (1,181,415)   (292,613) 8,515 7,522
Accumulated other comprehensive loss (1,732)   (1,423)   (105)    
Total Stockholders’ Equity (Deficit) (732,248)   (610,100) $ (139,216) 240,160 $ 8,515 $ 49,326
Total Liabilities, Convertible Preferred Stock, and Stockholders’ Equity (Deficit) $ 926,970   $ 1,086,522   $ 3,299,717