Better Home & Finance Holding Company (NASDAQ: BETR) said its board of directors has appointed Daniel Lewis as interim chief executive officer, effective immediately, replacing founder Vishal Garg, who mutually agreed with the board to step down from the role. Garg will remain on the board.

Lewis, who joined the board recently after serving as an independent advisor to the company, previously served as CEO of Ascend Fundraising Solutions from 2018 to 2023 and founded Orange Capital LLC in 2005. The company said the majority of his compensation will be tied to shareholder returns and long-term operating performance.

Along with the leadership change, Better released preliminary financial results for the second quarter ended June 30, 2026. Funded loan volume reached $1.67 billion, up 45% year-over-year, while revenue rose 28% year-over-year to $54.7 million. The company reported a net loss of $30.6 million and an adjusted EBITDA of negative $14.0 million, which included a $6.5 million benefit from a TRID reserve release related to loans originated prior to June 2022.

The company said it expects annualized cost reductions to exceed $45 million by year-end, above a previously announced $35 million target. Better also said it continues to pursue the sale of its UK bank subsidiary, Birmingham Bank, through a process led by FT Partners.

Better said it is sharpening its strategy around a platform model in which partners own customer acquisition, focusing on its Tinman technology platform to serve enterprise customers and independent mortgage brokers.

The company moved its second quarter earnings release and investor conference call to August 6, 2026, from the previously scheduled date of August 10, 2026. The preliminary results are subject to completion of the company's financial closing procedures.