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BETTER 10Q - UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($)
$ in Thousands
6 Months Ended 12 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Dec. 31, 2022
Dec. 31, 2021
Net interest income (expense)        
Interest income $ 8,860 $ 17,941 $ 26,714 $ 89,627
Warehouse interest expense (6,786) (11,937) (17,059) (69,929)
Net interest income (expense) 2,074 6,004 9,655 19,698
Total net revenues 51,120 347,795 382,976 1,241,670
Expenses:        
General and administrative expenses 54,203 114,794 194,565 231,220
Marketing and advertising expenses 11,994 49,853 69,021 248,895
Technology and product development expenses 45,907 70,940 124,912 144,490
Restructuring and impairment expenses (see Note 4) 11,119 166,709 247,693 17,048
Total expenses 183,890 903,661 1,253,806 1,481,346
Income (loss) from operations (132,770) (555,866) (870,830) (239,676)
Interest and other income (expense), net        
Other income (expense) 4,210 115 3,741 0
Change in fair value of warrants 266 20,411 28,901 (32,790)
Change in fair value of bifurcated derivative 1,064 277,777 236,603 0
Total interest and other expense, net (758) 158,116 (16,872) (63,835)
Loss before income tax expense (133,528) (397,750) (887,702) (303,511)
Income tax expense 1,880 1,502 1,100 (2,383)
Net income (loss) (135,408) (399,252) (888,802) (301,128)
Other comprehensive loss:        
Other comprehensive loss— foreign currency translation adjustment, net of tax (309) (609) (1,318) 35
Comprehensive loss $ (135,717) $ (399,861) $ (890,120) $ (301,093)
Per share data:        
Basic net income (loss) per share $ (1.39) $ (4.23) $ (9.33) $ (3.46)
Diluted net income (loss) per share $ (1.39) $ (4.23) $ (9.33) $ (3.46)
Weighted average common shares outstanding - Basic (in shares) 97,444,291 94,402,682 95,303,684 86,984,646
Diluted weighted average shares outstanding 97,444,291 94,402,682 95,303,684 86,984,646
Non-Funding Debt        
Interest and other income (expense), net        
Interest expense on debt $ (6,298) $ (6,773) $ (13,450) $ (11,834)
Pre-Closing Bridge Notes        
Interest and other income (expense), net        
Interest expense on debt 0 (133,414) (272,667) (19,211)
Mortgage platform revenue, net        
Revenues:        
Revenues 40,720 95,499 105,658 1,088,223
Expenses:        
Expenses 51,643 237,370 327,815 700,113
Cash offer program revenue        
Revenues:        
Revenues 304 216,357 228,721 39,361
Expenses:        
Expenses 398 217,696 230,144 39,505
Other platform revenue        
Revenues:        
Revenues 8,022 29,935 38,942 94,388
Expenses:        
Expenses $ 8,626 $ 46,299 $ 59,656 $ 100,075