Better Home & Finance Holding Co-A 2025年度报告

SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 For the fiscal year ended December31, 2025OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to _______ Commission file number 001-40143 Better Home & Finance Holding Company (Exact name of registrant as specified in its charter) Delaware93-3029990 (State or other jurisdiction of incorporation or organization)(I.R.S. Employer Identification No.) 1 World Trade Center285 Fulton Street, 80th Floor, Suite ANew York, NY 10007(Address of principal executive offices, including zip code)(415) 522-8837(Registrant’s telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.YesNo Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.YesNo Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the SecuritiesExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports);and (2) has been subject to such filing requirements for the past 90 days.YesNo Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submittedpursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the YesNo Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smallerreporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smallerreporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. Large accelerated filer Non-accelerated filer If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the ExchangeAct. Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectivenessof its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registeredpublic accounting firm that prepared or issued its audit report. If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of theregistrant included in the filing reflect the correction of an error to previously issued financial statements. Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-basedcompensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b). Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act).YesNo The aggregate market value of the voting and non-voting common equity held by non-affiliates of the registrant as of June 30, 2025was approximately $169million, based on the closing price of $12.39 per share of Class A common stock as reported on the NasdaqCapital Market. As of March 2, 2026, there were 10,639,547 shares of Class A common stock, 4,372,800 shares of Class B common stock and1,437,545 shares of Class C common stock of the Registrant issued and outstanding. Portions of the registrant’s definitive proxy statement relating to its 2026 annual meeting of stockholders are incorporated by referenceinto Part III of this Annual Report on Form 10-K where indicated. Such definitive proxy statement will be filed with the Securities andExchange Commission within 120 days after the end of the registrant’s fiscal year ended December 31, 2025. Auditor Firm PCAOB ID: 34Auditor Name: Deloitte & Touche LLPAuditor Location: New York, NY TABLE OF CONTENTS PageCautionary Statement Regarding Forward-Looking Statements2Risk Factors Summary2PART IItem 1. Business4Item 1A. Risk Factors12Item 1B. Unresolved Staff Comments45Item 1C. CybersecurityItem 2. Properties47Item 3. Legal Proceedings47Item 4. Mine Safety Disclosures47PART IIItem 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of EquitySecurities48Item 6. [Reserved]48Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations49Item 7A. Quantitative and Qualitative Disclosures about Market Risk70Item 8. Financial Statements and Supplementary Data72Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure124Item 9A. Controls and Procedures124Item 9B. Other Information125Ite