Since its launch in January 2025, NEO Powered by Better has provided loans totaling approximately $95 million, supporting about 220 families. With a significant gain-on-sale margin of 365 basis points, the initiative promises robust growth amidst challenging market conditions. CEO Vishal Garg expressed optimism in AI-driven advancements, particularly highlighting the anticipated capabilities of the AI voice assistant, Betsy, by end of 2025 that will enhance operational efficiency. As Better aims for profitability, its 2024 results show improved revenue and reduced losses, although uncertainty remains for rate relief in 2025.
Since beginning production in January 2025, NEO Powered by Better' has served a total of approximately 220 families equating to approximately $95 million of funded loan volume.
We believe we are moving in the right direction from a profitability perspective, with the improvements in adjusted EBITDA in the fourth quarter compared to the third quarter of 2024.
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