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Dec 31, 2023
Rocket Companies Q4 2023 Earnings Report
Rocket Companies reported Q4 2023 results with a net revenue of $694 million and an adjusted revenue of $885 million. The company experienced a GAAP net loss of $233 million, or $(0.09) per share, and an adjusted net loss of $6 million, or $0.00 per share.
Key Takeaways
Rocket Companies reported Q4 2023 net revenue of $694 million and adjusted revenue of $885 million, exceeding the high end of guidance. The company had a GAAP net loss of $233 million, or $(0.09) per share, and an adjusted net loss of $6 million, or $0.00 per share. Despite a challenging year for mortgage originations, Rocket Companies achieved positive adjusted EBITDA for the third consecutive quarter and increased its market share.
Generated Q4'23 net revenue of $694 million and adjusted revenue of $885 million, exceeding guidance.
Reported Q4'23 GAAP net loss of $233 million, or $(0.09) per GAAP diluted loss per share and adjusted net loss of $6 million or $0.00 per adjusted diluted loss per share.
Gain on sale margin was 2.68%, a 51 bps increase over the same period the prior year.
Total liquidity was approximately $9.0 billion, as of December 31, 2023, which includes $1.1 billion of cash on the balance sheet, and $2.5 billion of corporate cash used to self-fund loan originations, $3.4 billion of undrawn lines of credit, and $2.0 billion of undrawn MSR lines of credit.
Rocket Companies
Rocket Companies
Rocket Companies Revenue by Segment
Revenue by Segment
Direct to Consumer Revenue
CapyFin.comPartner Network Revenue
CapyFin.comAll Other Revenue
CapyFin.com Forward Guidance
In Q1 2024, we expect adjusted revenue of between $925 million to $1,075 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income