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BETTER 10Q - UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOW - USD ($)
$ in Thousands
6 Months Ended 12 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Dec. 31, 2022
Dec. 31, 2021
Cash Flows from Operating Activities:        
Net income (loss) $ (135,408) $ (399,252) $ (888,802) $ (301,128)
Adjustments to reconcile net loss to net cash (used in)/provided by operating activities:        
Depreciation of property and equipment 3,538 7,586 13,674 7,647
Impairments 5,257 72,694 145,178 0
Amortization of internal use software and other intangible assets 18,763 17,091 35,368 19,573
Non-cash interest and amortization of debt issuance costs and discounts 476 133,428 273,048 19,592
Other non-cash adjustments (733) 889    
Change in fair value of convertible preferred stock warrants (266) (20,411) (28,901) 32,790
Change in fair value of bifurcated derivative (1,064) (277,777) (236,603) 0
Stock-based compensation 12,354 20,048 38,557 55,215
(Recovery of) Provision for loan repurchase reserve (688) 12,709 33,518 13,780
Change in fair value of derivatives (260) 6,506 5,695 7,744
Change in fair value of mortgage loans held for sale 32,185 63,545 54,266 67,678
Change in operating lease of right-of-use assets 4,013 5,492 8,791 24,752
Change in operating assets and liabilities:        
Originations of mortgage loans held for sale (1,705,817) (8,796,615) (10,508,885) (51,280,393)
Proceeds from sale of mortgage loans held for sale 1,627,652 10,081,927 12,035,915 51,791,633
Operating lease obligations (8,675) (7,307) (13,608) (11,742)
Other receivables, net 1,255 24,488 37,878 (11,149)
Prepaid expenses and other assets 3,898 (16,588) (2,941) (60,442)
Accounts payable and accrued expenses 18,667 (24,152) (40,557) (7,958)
Escrow payable (2,871) (1,759) (3,554) (14,594)
Other liabilities (14,978) 959 (19,814) 11,895
Net cash (used in)/provided by operating activities (142,702) 903,501 938,223 361,215
Cash Flows from Investing Activities:        
Purchase of property and equipment (81) (8,445) (11,735) (15,722)
Proceeds from sale of property and equipment 520 0 4,473 0
Capitalization of internal use software (6,207) (16,880) (23,548) (52,926)
Acquisitions of businesses, net of cash acquired (12,713) 0 (3,847) (5,074)
Deferred acquisition consideration 0 (3,847)    
Maturities of short-term investments 7,658 0    
Purchase of short-term investments (31,812) 0    
Net cash used in investing activities (42,635) (29,172) (34,657) (68,703)
Cash Flows from Financing Activities:        
Borrowings on warehouse lines of credit 1,621,645 8,496,534 10,131,559 50,500,028
Repayments of warehouse lines of credit (1,619,213) (9,778,851) (11,655,427) (51,040,074)
Repayments on finance lease liabilities (205) (538) (1,122) (955)
Net increase (decrease) in customer deposits (1,281) 0    
Repayments on corporate line of credit (22,847) (5,000) (5,000) 0
Payment of debt issuance costs (3,361) 0 0 (425)
Proceeds from (repayments of) stock options exercised not vested 0 (2,887) 0 2,825
Repurchase or cancellation of common stock (224) (1,483) (7,169) (5,648)
Net cash provided by (used in) financing activities (25,486) (1,292,225) (1,537,100) 304,542
Effects of currency translation on cash, cash equivalents, and restricted cash (309) (609) 725 35
Net Change in Cash (211,132) (418,505) (632,809) 597,089
Cash - Beginning of period 346,065 978,874 978,874 381,785
Cash - End of period 134,933 560,369 346,065 978,874
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents [Abstract]        
Cash and cash equivalents 109,922 523,932 317,959 938,319
Restricted cash 25,011 36,437 28,106 40,555
Total cash, cash equivalents and restricted cash, end of period 134,933 560,369 346,065 978,874
Supplemental Disclosure of Cash Flow Information:        
Interest paid 5,746 18,520 13,069 78,809
Income taxes (refunded)/ paid (6,123) 1,333 1,828 35,774
Non-Cash Investing and Financing Activities:        
Capitalized stock-based compensation costs 1,371 2,190 4,051 8,972
Vesting of stock options early exercised in prior periods 1,855 10,058 16,383 1,154
Vesting of common stock issued via notes receivable from stockholders 2,354 9,770 15,267 38,268
Acquisition earnout $ 3,430 $ 0 $ 0 $ 3,875