Rocket Companies Announces Third Quarter 2025 Results

DETROIT, Oct. 30, 2025 /PRNewswire/ -- Rocket Companies, Inc. (NYSE: RKT) ("Rocket Companies" or the "Company"), the Detroit-based homeownership platform company including mortgage, real estate, title and personal finance businesses, today announced results for the third quarter ended September 30, 2025.

"Rocket delivered a standout quarter, balancing short and long term execution in a category of one. I am very proud of the Rocket team for surpassing the high end of our adjusted revenue guidance range, accelerating Redfin momentum and closing the Mr. Cooper transaction—the largest independent mortgage company deal in history," said Varun Krishna, CEO and Director of Rocket Companies. "We are building a vertically integrated homeownership platform for the AI era."

Third Quarter 2025 Financial Summary (1)

($ in millions, except per share amounts)

Q3 -25

Q3 -24

YTD 25

YTD 24

(Unaudited)

Total revenue, net

$ 1,605

$ 647

$ 4,003

$ 3,331

Total expenses

$ 1,789

$ 1,144

$ 4,386

$ 3,338

GAAP net loss

$ (124)

$ (481)

$ (302)

$ (13)

Adjusted revenue

$ 1,783

$ 1,323

$ 4,419

$ 3,714

Adjusted net income

$ 158

$ 166

$ 313

$ 371

Adjusted EBITDA

$ 349

$ 286

$ 690

$ 685

GAAP diluted loss per share

$ (0.06)

$ (0.19)

$ (0.17)

$ (0.03)

Adjusted diluted earnings per share

$ 0.07

$ 0.08

$ 0.15

$ 0.19

($ in millions)

Q3 -25

Q3 -24

YTD 25

YTD 24

Select Metrics

(Unaudited)

Mortgage closed loan origination volume

$ 32,413

$ 28,496

$ 83,053

$ 73,363

Gain on sale margin

2.80 %

2.78 %

2.83 %

2.94 %

Net rate lock volume

$ 35,829

$ 29,835

$ 90,374

$ 77,247

(1) "GAAP" stands for Generally Accepted Accounting Principles in the U.S. Please see the sections of this document titled "Non-GAAP Financial Measures" and "GAAP to non-GAAP Reconciliations" for more information on the Company's non-GAAP measures and its share count. Certain figures throughout this document may not foot due to rounding.

Third Quarter 2025 Financial Highlights

During the third quarter of 2025:

Company Highlights

Fourth Quarter 2025 Outlook (2)

In Q4 2025, we expect adjusted revenue between $2.1 billion to $2.3 billion.

This outlook incorporates a full quarter of consolidated financial results from Redfin and Mr. Cooper.

(2) Please see the section of this document titled "Non-GAAP Financial Measures" for more information.

Segments

Direct to Consumer

In the Direct to Consumer segment, clients have the ability to interact with Rocket Mortgage digitally and/or with the Company's mortgage bankers. The Company markets to potential clients in this segment through various brand campaigns and performance marketing channels. The Direct to Consumer segment derives revenue from originating, closing, selling and servicing predominantly agency-conforming loans, which are pooled and sold to the secondary market. The segment also includes title and settlement services and appraisal management, complementing the Company's end-to-end mortgage origination experience. Servicing activities are fully allocated to the Direct to Consumer segment and are viewed as an extension of the client experience. Servicing enables Rocket Mortgage to establish and maintain long term relationships with our clients, through multiple touchpoints at regular engagement intervals.

DIRECT TO CONSUMER ( 3)

($ in millions)

Q3-25

Q3-24

YTD 25

YTD 24

(Unaudited)

Sold loan volume

$ 17,139

$ 14,006

$ 42,559

$ 36,087

Sold loan gain on sale margin

4.35 %

4.10 %

4.45 %

4.16 %

Total revenue, net

$ 975

$ 331

$ 2,763

$ 2,406

Adjusted revenue

$ 1,153

$ 1,007

$ 3,180

$ 2,789

Contribution margin

$ 469

$ 456

$ 1,243

$ 1,174

Partner Network

The Rocket Professional platform supports our Partner Network segment, where we leverage our superior client service and widely recognized brand to grow marketing and influencer relationships and our mortgage broker partnerships through Rocket Pro. Our marketing partnerships consist of well-known consumer-focused companies that find value in our award-winning client experience and want to offer their clients mortgage solutions with our trusted, widely recognized brand. These organizations connect their clients directly to us through marketing channels and a referral process. Our influencer partnerships are typically with companies that employ licensed mortgage professionals that find value in our client experience, technology and efficient mortgage process, where mortgages may not be their primary offering. We also enable clients to start the mortgage process through the Rocket platform in the way that works best for them, including through a local mortgage broker.

PARTNER NETWORK ( 3)

($ in millions)

Q3-25

Q3-24

YTD 25

YTD 24

(Unaudited)

Sold loan volume

$ 13,671

$ 12,405

$ 36,286

$ 31,470

Sold loan gain on sale margin

1.11 %

1.47 %

1.11 %

1.53 %

Total revenue, net

$ 168

$ 177

$ 429

$ 535

Adjusted revenue

$ 168

$ 177

$ 429

$ 535

Contribution margin

$ 96

$ 112

$ 236

$ 353

(3) We measure the performance of the Direct to Consumer and Partner Network segments primarily on a contribution margin basis. Contribution margin is intended to measure the direct profitability of each segment and is calculated as Adjusted revenue less directly attributable expenses. Directly attributable expenses include salaries, commissions and team member benefits, general and administrative expenses, marketing and advertising expenses and other expenses, such as mortgage servicing related expenses and expenses generated from Rocket Close (title and settlement services). A loan is considered "sold" when it is sold to investors on the secondary market. See "Summary Segment Results" section below and "Segments" footnote in the "Notes to Consolidated Financial Statements" in the Company's forthcoming filing on Form 10-Q for more information.

Balance Sheet and Liquidity

Total available cash was $6.2 billion as of September 30, 2025, which includes $5.8 billion of cash and cash equivalents, and $0.4 billion of corporate cash used to self-fund loan originations. This total available cash includes $4.0 billion from the unsecured notes issued in June 2025 in anticipation of refinancing Mr. Cooper's unsecured debt and paydown of existing MSR debt upon closing.

Additionally, we have access to $1.1 billion of undrawn lines of credit, and $2.0 billion of undrawn MSR lines of credit from financing facilities, for a total liquidity position of $9.3 billion as of September 30, 2025. Subsequent to the quarter on October 1, $3.1 billion of Mr. Cooper's legacy unsecured debt was refinanced with the proceeds from the June issuance and the remaining $1.9 billion of Mr. Cooper's legacy unsecured debt was assumed or refinanced through an exchange offer. Also subsequent to the quarter, we upsized our undrawn lines of credit to $2.3 billion, further enhancing our liquidity profile.

BALANCE SHEET HIGHLIGHTS

($ in millions)

September 30, 2025

December 31, 2024

(Unaudited)

Cash and cash equivalents

$ 5,836

$ 1,273

Mortgage servicing rights, at fair value

7,364

7,633

Funding facilities

10,523

6,708

Other financing facilities and debt

8,592

4,132

Total equity

8,851

9,043

Third Quarter Earnings Call

Rocket Companies will host a live conference call at 4:30 p.m. ET on October 30, 2025 to discuss its results for the quarter ended September 30, 2025. A live webcast of the event will be available online by clicking on the " Investor Info" section of our website. The webcast will also be available via rocketcompanies.com.

A replay of the webcast will be available on the Investor Relations site following the conclusion of the event.

Condensed Consolidated Statements of Income (Loss)

($ In Thousands, Except Per Share Amounts)

Three Months Ended September 30,

Nine Months Ended September 30,

2025

2024

2025

2024

(Unaudited)

Revenue

Gain on sale of loans

Gain on sale of loans excluding fair value of

originated MSRs, net

$ 641,721

$ 506,688

$ 1,621,295

$ 1,396,128

Fair value of originated MSRs

385,692

337,702

993,644

906,044

Gain on sale of loans, net

1,027,413

844,390

2,614,939

2,302,172

Loan servicing (loss) income

Servicing fee income

413,138

373,796

1,215,111

1,074,219

Change in fair value of MSRs

(479,602)

(878,311)

(1,127,672)

(934,744)

Loan servicing (loss) income, net

(66,464)

(504,515)

87,439

139,475

Interest income

126,459

108,566

342,051

309,961

Interest expense on funding facilities

(90,778)

(101,820)

(245,696)

(234,556)

Interest income, net

35,681

6,746

96,355

75,405

Other income

608,654

300,327

1,204,066

814,334

Total revenue, net

1,605,284

646,948

4,002,799

3,331,386

Expenses

Salaries, commissions and team member benefits

874,774

607,526

2,107,841

1,702,042

General and administrative expenses

354,554

221,074

902,790

690,691

Marketing and advertising expenses

274,273

200,528

825,946

617,761

Depreciation and amortization

78,340

28,607

132,776

83,633

Interest and amortization expense on non-

funding debt

137,195

38,620

233,200

115,349

Other expenses

70,344

47,912

183,283

128,817

Total expenses

1,789,480

1,144,267

4,385,836

3,338,293

Loss before income taxes

(184,196)

(497,319)

(383,037)

(6,907)

Benefit from (provision for) income taxes

60,342

15,895

80,826

(5,878)

Net loss

(123,854)

(481,424)

(302,211)

(12,785)

Net loss attributable to non-controlling interest

—

459,413

166,189

8,284

Net loss attributable to Rocket Companies

$ (123,854)

$ (22,011)

$ (136,022)

$ (4,501)

Loss per share of Participating Common Stock

Basic

$ (0.06)

$ (0.16)

$ (0.17)

$ (0.03)

Diluted

$ (0.06)

$ (0.19)

$ (0.17)

$ (0.03)

Weighted average shares outstanding

Basic

2,106,227,188

141,763,221

815,634,892

139,475,981

Diluted

2,106,227,188

2,003,296,515

815,634,892

139,475,981

Condensed Consolidated Balance Sheets

($ In Thousands)

September 30,

2025

December 31,

2024

Assets

(Unaudited)

Cash and cash equivalents

$ 5,836,104

$ 1,272,853

Restricted cash

21,036

16,468

Mortgage loans held for sale, at fair value

11,657,795

9,020,176

Derivative assets, at fair value

329,559

192,433

Mortgage servicing rights ("MSRs"), at fair value

7,364,129

7,633,371

Notes receivable and due from affiliates

17,433

14,245

Property and equipment, net

201,282

213,848

Deferred tax asset, net

11,800

521,824

Lease right of use assets

260,056

281,770

Loans subject to repurchase right from Ginnie Mae

2,842,715

2,785,146

Goodwill and intangible assets, net

3,282,853

1,227,517

Other assets

1,751,366

1,330,412

Total assets

$ 33,576,128

$ 24,510,063

Liabilities and equity

Liabilities

Funding facilities

$ 10,523,088

$ 6,708,186

Other financing facilities and debt:

Senior Notes, net

8,537,628

4,038,926

Early buy out facility

54,589

92,949

Accounts payable

297,536

181,713

Lease liabilities

294,662

319,296

Derivative liabilities, at fair value

65,211

11,209

Investor reserves

98,725

99,998

Notes payable and due to affiliates

2,839

31,280

Tax receivable agreement liability

590,490

581,183

Loans subject to repurchase right from Ginnie Mae

2,842,715

2,785,146

Deferred tax liability

551,869

17,445

Other liabilities

865,313

599,352

Total liabilities

$ 24,724,665

$ 15,466,683

Equity

Preferred stock

$ —

Class A common stock

Class B common stock

—

Class C common stock

—

Class D common stock

—

Class L common stock

—

Additional paid-in capital

8,797,962

389,695

Retained earnings

55,199

312,834

Accumulated other comprehensive loss

(1,719)

(48)

Non-controlling interest

—

8,340,879

Total equity

8,851,463

9,043,380

Total liabilities and equity

$ 33,576,128

$ 24,510,063

Summary Segment Results for the Three and Nine Months Ended September 30, 2025 and 2024

($ in millions)

(Unaudited)

Three Months Ended September 30, 2025

Direct to

Consumer

Partner

Network

Segments

Total

All Other

Total

Total U.S. GAAP Revenue, net

$ 975

$ 168

$ 1,143

$ 462

$ 1,605

Change in fair value of MSRs due to valuation

assumptions (net of hedges)

177

—

177

—

177

Adjusted revenue

$ 1,153

$ 168

$ 1,320

$ 463

$ 1,783

Less: Directly attributable expenses

684

755

279

1,034

Contribution margin (1)

$ 469

$ 96

$ 565

$ 184

$ 748

Three Months Ended September 30, 2024

Direct to

Consumer

Partner

Network

Segments

Total

All Other

Total

Total U.S. GAAP Revenue, net

$ 331

$ 177

$ 508

$ 139

$ 647

Change in fair value of MSRs due to valuation

assumptions (net of hedges)

676

—

676

—

676

Adjusted revenue

$ 1,007

$ 177

$ 1,184

$ 139

$ 1,323

Less: Directly attributable expenses

551

616

701

Contribution margin (1)

$ 456

$ 112

$ 568

$ 53

$ 622

Nine Months Ended September 30, 2025

Direct to

Consumer

Partner

Network

Segments

Total

All Other

Total

Total U.S. GAAP Revenue, net

$ 2,763

$ 429

$ 3,193

$ 810

$ 4,003

Change in fair value of MSRs due to valuation

assumptions (net of hedges)

416

—

416

—

416

Adjusted revenue

$ 3,180

$ 429

$ 3,609

$ 810

$ 4,419

Less: Directly attributable expenses

1,937

193

2,130

518

2,648

Contribution margin (1)

$ 1,243

$ 236

$ 1,479

$ 292

$ 1,771

Nine Months Ended September 30, 2024

Direct to

Consumer

Partner

Network

Segments

Total

All Other

Total

Total U.S. GAAP Revenue, net

$ 2,406

$ 535

$ 2,941

$ 390

$ 3,331

Change in fair value of MSRs due to valuation

assumptions (net of hedges)

383

—

383

—

383

Adjusted revenue

$ 2,789

$ 535

$ 3,324

$ 390

$ 3,714

Less: Directly attributable expenses

1,615

182

1,797

263

2,060

Contribution margin (1)

$ 1,174

$ 353

$ 1,527

$ 127

$ 1,654

(1)

We measure the performance of the segments primarily on a contribution margin basis. Contribution margin is intended to measure the direct profitability of each segment and is calculated as Adjusted revenue less directly attributable expenses. Adjusted revenue is a non-GAAP financial measure described below. Directly attributable expenses include salaries, commissions and team member benefits, general and administrative expenses, marketing and advertising expenses and other expenses, such as mortgage servicing related expenses and expenses generated from Rocket Close (title and settlement services).

GAAP to Non-GAAP Reconciliations

Adjusted Revenue Reconciliation

($ in millions)

Three Months Ended September 30,

Nine Months Ended September 30,

2025

2024

2025

2024

(Unaudited)

Total revenue, net

$ 1,605

$ 647

$ 4,003

$ 3,331

Change in fair value of MSRs due to valuation

assumptions (net of hedges) (1)

177

676

416

383

Adjusted revenue

$ 1,783

$ 1,323

$ 4,419

$ 3,714

(1)

Reflects changes in market interest rates and assumptions, including discount rates and prepayment speeds, gains or losses on sales of MSRs during the period and the effects of contractual prepayment protection associated with sales or purchases of MSRs.

Adjusted Net Income Reconciliation

($ in millions)

Three Months Ended September 30,

Nine Months Ended September 30,

2025

2024

2025

2024

(Unaudited)

Net loss attributable to Rocket Companies

$ (124)

$ (22)

$ (136)

$ (5)

Net loss impact from pro forma conversion of

Class D common shares to Class A common shares

(1)

—

(459)

(166)

(7)

Adjustment to the (provision for) benefit from

income tax (2)

(15)

105

Tax-effected net loss (2)

(139)

(376)

(288)

(5)

Share-based compensation expense (3)

160

110

Change in fair value of MSRs due to

valuation assumptions (net of hedges) (4)

177

676

416

383

Acquisition-related expenses (5)

—

158

—

Amortization of acquired intangible

assets (6)

—

Change in Tax receivable agreement liability (7)

—

Tax impact of adjustments (8)

(97)

(175)

(196)

(120)

Other tax adjustments (9)

Adjusted net income

$ 158

$ 166

$ 313

$ 371

(1)

Reflects net income (loss) to Class A common shares from pro forma exchange and conversion of corresponding shares of our Class D common shares held by non-controlling interest holders during the periods ended September 30, 2025 and 2024. Class D common shares were exchanged and retired on June 30, 2025, the date the Up-C Collapse was effectuated.

(2)

Rocket Companies is subject to U.S. Federal income taxes, in addition to state, local and Canadian taxes with respect to its allocable share of any net taxable income or loss of Holdings. The adjustment to the (provision for) benefit from income tax reflects the difference between (a) the income tax computed using the effective tax rates below applied to the Loss before income taxes assuming Rocket Companies, Inc. owns 100% of the non-voting common interest units of Rocket LLC Holdings for all nine months presented and (b) the (benefit from) provision for income taxes. The effective income tax rate was 24.80% and 24.40% for the three months ended September 30, 2025 and 2024, respectively. The effective income tax rate was 24.74% and 24.40% for the nine months ended September 30, 2025 and 2024, respectively.

(3)

The three and nine months ended September 2025 exclude the impact of acquisition-related expenses.

(4)

(5)

Primarily consists of transaction costs associated with the acquisitions and Up-C Collapse, such as professional service fees (including integration costs), debt financing fees related to the Bridge Facility, and severance expense (including accelerated share-based compensation).

(6)

Reflects amortization of intangible assets related to the Redfin acquisition.

(7)

Reflects changes in estimates of tax rates and other variables of the Tax receivable agreement liability.

(8)

Tax impact of adjustments gives effect to the income tax related to share-based compensation expense, change in fair value of MSRs due to valuation assumptions (net of hedges), acquisition-related expenses and the change in Tax receivable agreement liability, at the effective tax rates for each period.

(9)

Represents tax benefits due to the amortization of intangible assets and other tax attributes resulting from the historical purchases of Holdings Units, net of payment obligations under Tax Receivable Agreement.

Adjusted Diluted Weighted Average Shares Outstanding Reconciliation

($ in millions, except per share amounts)

Three Months Ended September 30,

Nine Months Ended September 30,

2025

2024

2025

2024

(Unaudited)

Diluted weighted average Participating Common Stock

outstanding

2,106,227,188

2,003,296,515

815,634,892

139,475,981

Assumed pro forma conversion of Class D shares (1)

—

1,219,041,417

1,848,879,483

Adjusted diluted weighted average shares outstanding

2,106,227,188

2,003,296,515

2,034,676,309

1,988,355,464

Adjusted net income

$ 158

$ 166

$ 313

$ 371

Adjusted diluted earnings per share

$ 0.07

$ 0.08

$ 0.15

$ 0.19

(1)

Reflects the pro forma exchange and conversion of anti-dilutive Class D common shares to Class A common shares. For the nine months ended September 30, 2025 and 2024, Class D common shares were anti-dilutive and are excluded in the Diluted weighted average Participating Common Stock outstanding in the table above. Class D common shares were exchanged and retired on June 30, 2025, the date the Up-C Collapse was effectuated.

Adjusted EBITDA Reconciliation

($ in millions)

Three Months Ended September 30,

Nine Months Ended September 30,

2025

2024

2025

2024

(Unaudited)

Net loss

$ (124)

$ (481)

$ (302)

$ (13)

Interest and amortization expense on non-

funding debt (1)

111

195

115

(Benefit from) provision for income taxes

(60)

(16)

(81)

Depreciation and amortization (2)

Share-based compensation expense (3)

160

110

Change in fair value of MSRs due to valuation

assumptions (net of hedges) (4)

177

676

416

383

Acquisition-related expenses (1)(5)

—

158

—

Amortization of acquired intangible

assets (6)

—

Change in Tax receivable agreement liability (7)

—

Adjusted EBITDA

$ 349

$ 286

$ 690

$ 685

(1)

Debt financing fees related to the Bridge Facility are a nonrecurring acquisition-related expense impacting the 2025 periods, and therefore excluded from Interest and amortization expense on non-funding debt, and included as Acquisition-related expenses.

(2)

The three and nine months ended September 2025 exclude the impact of amortization of acquired intangible assets.

(3)

The three and nine months ended September 2025 exclude the impact of acquisition-related expenses.

(4)

(5)

(6)

Reflects amortization of intangible assets related to the Redfin acquisition.

(7)

Reflects changes in estimates of tax rates and other variables of the Tax receivable agreement liability.

Non-GAAP Financial Measures

To provide investors with information in addition to our results as determined by GAAP, we disclose Adjusted revenue, Adjusted net income, Adjusted diluted earnings per share and Adjusted EBITDA (collectively "our non-GAAP financial measures") as non-GAAP measures which management believes provide useful information to investors. We believe that the presentation of our non-GAAP financial measures provides useful information to investors regarding our results of operations because each measure assists both investors and management in analyzing and benchmarking the performance and value of our business. Our non-GAAP financial measures are not calculated in accordance with GAAP and should not be considered as a substitute for revenue, Net loss, or any other operating performance measure calculated in accordance with GAAP. Other companies may define our non-GAAP financial measures differently, and as a result, our measures of our non-GAAP financial measures may not be directly comparable to those of other companies. Our non-GAAP financial measures provide indicators of performance that are not affected by fluctuations in certain costs or other items. Accordingly, management believes that these measurements are useful for comparing general operating performance from period to period, and management relies on these measures for planning and forecasting of future periods. Additionally, these measures allow management to compare our results with those of other companies that have different financing and capital structures.

We define "Adjusted revenue" as total revenues net of the change in fair value of mortgage servicing rights ("MSRs") due to valuation assumptions (net of hedges). We define "Adjusted net income" as tax-effected Net loss before share-based compensation expense, the change in fair value of MSRs due to valuation assumptions (net of hedges), acquisition-related expenses, amortization of acquired intangible assets, the change in Tax receivable agreement liability and the tax effects of those adjustments as applicable. We define "Adjusted diluted earnings per share" as Adjusted net income divided by the adjusted diluted weighted average shares outstanding which includes diluted weighted average Participating Common Stock and the assumed pro forma exchange and conversion of Class D common stock outstanding for the applicable period presented. We define "Adjusted EBITDA" as Net loss before interest and amortization expense on non-funding debt, (benefit from) provision for income taxes, depreciation and amortization, share-based compensation expense, change in fair value of MSRs due to valuation assumptions (net of hedges), acquisition-related expenses, amortization of acquired intangible assets and the change in Tax receivable agreement liability.

We exclude from each of our non-GAAP financial measures the change in fair value of MSRs due to valuation assumptions (net of hedges), as this represents a non-cash non-realized adjustment to our total revenues, reflecting changes in market interest rates and assumptions, including discount rates and prepayment speeds, which are not indicative of our performance or results of operation. We also exclude gains or losses on sales of MSRs during the period and effects of contractual prepayment protection associated with sales of MSRs. Further, we exclude the amortization of intangible assets recognized from the Redfin acquisition from Adjusted net income and Adjusted EBITDA. The Redfin intangible assets were recorded as part of purchase accounting and the related amortization recorded over their useful lives represents a fixed non-cash expense that is not indicative of our ongoing performance or results of operations. Adjusted EBITDA includes Interest expense on funding facilities, which are recorded as a component of Interest income, net, as these expenses are a direct cost driven by loan origination volume. By contrast, interest and amortization expense on non-funding debt is a function of our capital structure and is therefore excluded from Adjusted EBITDA.

Our definitions of each of our non-GAAP financial measures allow us to add back certain cash and non-cash charges, and deduct certain gains that are included in calculating Total revenue, net, Net loss attributable to Rocket Companies or Net loss. However, these expenses and gains vary greatly, and are difficult to predict. From time to time in the future, we may include or exclude other items if we believe that doing so is consistent with the goal of providing useful information to investors.

Although we use our non-GAAP financial measures to assess the performance of our business, such use is limited because they do not include certain material costs necessary to operate our business. Our non-GAAP financial measures can represent the effect of long-term strategies as opposed to short-term results. Our presentation of our non-GAAP financial measures should not be construed as an indication that our future results will be unaffected by unusual or nonrecurring items. Our non-GAAP financial measures have limitations as analytical tools, and you should not consider them in isolation or as a substitute for analysis of our results as reported under U.S. GAAP. Because of these limitations, our non-GAAP financial measures should not be considered as measures of discretionary cash available to us to invest in the growth of our business or as measures of cash that will be available to us to meet our obligations.

For financial outlook information, the Company is not providing a quantitative reconciliation of adjusted revenue to the most directly comparable GAAP measure because the GAAP measure cannot be reliably estimated and the reconciliation cannot be performed without unreasonable effort due to their dependence on future uncertainties and adjusting items that the Company cannot reasonably predict at this time but which may be material.

As of June 30, 2025, the effective date of the Up-C Collapse, the Company applies the two-class method for calculating and presenting earnings per share by separately presenting earnings per share for Class A common stock and Class L common stock ("Participating Common Stock").

Forward Looking Statements

Some of the statements contained in this document are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Any statements in this document that are not historical or current facts are forward-looking statements. These forward-looking statements reflect our views with respect to future events as of the date of this document. All such forward-looking statements are subject to risks and uncertainties, including, but not limited to, the risk factors that are described under the section titled "Risk Factors" in our Annual Report on Form 10-K and other filings with the Securities and Exchange Commission, any of which could cause future events or results to be materially different from those stated or implied in this document. We expressly disclaim any obligation to publicly update or review any forward-looking statements, whether as a result of new information, future developments or otherwise, except as required by applicable law.

About Rocket Companies

Founded in 1985, Rocket Companies (NYSE: RKT) is a Detroit-based fintech platform including mortgage, real estate and personal finance businesses: Rocket Mortgage, Redfin, Mr. Cooper, Rocket Homes, Rocket Close, Rocket Money and Rocket Loans.

With insights from more than 160 million calls with clients each year, 30 petabytes of data and a mission to Help Everyone Home, Rocket Companies is well positioned to be the destination for AI-fueled homeownership. Known for providing exceptional client experiences, J.D. Power has ranked Rocket Mortgage #1 in client satisfaction for primary mortgage origination and mortgage servicing a total of 23 times – the most of any mortgage lender.

For more information, please visit our Corporate Website or Investor Relations Website.

SOURCE Rocket Companies, Inc.