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Rocket Companies Q2'25 Earnings Highlights

$RKT


๐Ÿ”น Adj Revenue: $1.34B (Est. $1.27B) ๐ŸŸข; UP +9.1% YoY

๐Ÿ”น Adj EPS: $0.04 (Est. $0.026) ๐ŸŸข; DOWN -33% YoY

๐Ÿ”น Adj EBITDA: $172M (Est. $129.3M) ๐ŸŸข

๐Ÿ”น Net Rate Lock Volume: $28.43B (Est. $27.41B) ๐ŸŸข; +13% YoY

๐Ÿ”น Closed Loan Origination Volume: $29.1B (Est. $28.2B) ๐ŸŸข; UP +18% YoY

๐Ÿ”น Gain on Sale Margin: 2.80%; -19bps YoY


Q3 Guidance:

๐Ÿ”น Sees Adjusted Revenue: $1.60B to $1.75B


Segment Performance โ€“ Q2

๐Ÿ”น Direct to Consumer Adjusted Revenue: $1.01B; UP +11.1% YoY

๐Ÿ”น Partner Network Adjusted Revenue: $148M; DOWN -21.3% YoY

๐Ÿ”น Direct to Consumer Sold Loan Gain on Sale Margin: 4.40% (vs. 4.14% YoY)

๐Ÿ”น Partner Network Sold Loan Gain on Sale Margin: 0.90% (vs. 1.59% YoY)


Other Metrics

๐Ÿ”น Total Liquidity: $9.1B (includes $5.1B in cash)

๐Ÿ”น Servicing Portfolio: $609B UPB across 2.8M loans

๐Ÿ”น Mortgage Servicing Rights (MSR): $7.57B


CEO Commentary

๐Ÿ”ธ โ€œRocket delivered a standout second quarter, exceeding the high end of guidanceโ€ฆ Our purchase funnel is expanding, conversion rates are rising, and Redfin clients are beginning to close with Rocket.โ€ โ€“ CEO Varun Krishna


Strategic & Operational Updates

๐Ÿ”ธ Closed all-stock acquisition of Redfin; expanding integrated offerings

๐Ÿ”ธ Introduced AI-powered refinance tools: complete end-to-end refi in under 30 minutes

๐Ÿ”ธ Launched AI agent for earnest money deposits โ€“ processes 80% automatically

๐Ÿ”ธ Released Rocket Preferred Pricing: 1% rate discount or up to $6K credit for Redfin-linked buyers

๐Ÿ”ธ Expanded bridge loan offering for homeowners to buy before selling

๐Ÿ”ธ Named #1 in mortgage servicing by J.D. Power for 11th time

๐Ÿ”ธ Hosted largest company hackathon โ€“ showcased AI, vector search, and cloud tech

๐Ÿ”ธ Wind-down of Rocket Mortgage Canada & Visa Signature credit card program

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