Rocket Companies announced its first quarter 2025 results, reporting adjusted revenue of $1.296 billion, which was at the high end of its guidance range. This compares to $1.163 billion in Q1 2024. The company demonstrated its platform's ability to execute effectively in the current market.
The company reported a GAAP net loss of $212 million for the quarter, a shift from a net income of $291 million in Q1 2024. Adjusted net income was $80 million, slightly down from $84 million year-over-year. Adjusted EBITDA was $169 million, compared to $174 million in the prior year period.
Closed loan origination volume increased to $21.584 billion from $20.205 billion year-over-year, and net rate lock volume rose to $26.117 billion from $22.362 billion. The Direct to Consumer segment's adjusted revenue was $1.017 billion, with a contribution margin of $407 million. Total liquidity stood at $8.1 billion as of March 31, 2025.
For the second quarter of 2025, Rocket Companies provided guidance for adjusted revenue between $1.175 billion and $1.325 billion. The results reflect continued strategic execution and growth in loan volumes, despite a challenging market environment that impacted GAAP profitability.
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