Rocket Companies reported third‑quarter 2025 results with total net revenue of $1.605 billion, up 9% from the same period last year, and adjusted revenue of $1.783 billion, surpassing the high end of the company’s guidance. Adjusted net income reached $158 million, or $0.07 per share, while adjusted EBITDA climbed to $349 million, reflecting a 20% margin that expanded from 13% in Q2 2025.
Mortgage originations totaled 32,413 closed loans, and net mortgage rate‑lock volume reached $35.8 billion. The Direct‑to‑Consumer segment generated $975 million in GAAP revenue and $1.153 billion in adjusted revenue; the Partner Network contributed $168 million in both net and adjusted figures; and the All‑Other segment, which includes Rocket Money and Rocket Loans, added $181 million in net and adjusted revenue.
Compared with Q2 2025, total revenue rose from $1.36 billion to $1.605 billion and adjusted revenue increased from $1.34 billion to $1.783 billion. Year‑over‑year, Q3 2024 total revenue was $647 million and adjusted revenue was $1.323 billion, underscoring the company’s accelerated growth trajectory.
Management guided Q4 2025 adjusted revenue to $2.1 billion–$2.3 billion, a range that incorporates the full impact of Redfin and Mr. Cooper results and reflects expectations of continued integration momentum and market‑share gains.
The Q3 results mark a defining moment for Rocket Companies, as the company completed the $14.2 billion acquisition of Mr. Cooper Group and accelerated the integration of Redfin. The combined platform now offers a vertically integrated home‑ownership experience, from mortgage origination to real‑estate services, and positions the firm to leverage AI‑driven efficiencies across the customer journey.
Financially, Rocket Companies maintained a strong liquidity position with $9.3 billion in total liquidity as of September 30 2025 and redeemed several series of Nationstar Mortgage Holdings senior notes following the Mr. Cooper acquisition. Net margin remained negative, reflecting ongoing investment in technology and integration costs, but the company’s debt‑to‑equity ratio stayed within acceptable limits.
Management noted that the company faces headwinds from a tightening interest‑rate environment and increased competition in the mortgage and real‑estate markets, but it remains confident that the expanded service offering and AI strategy will sustain growth and improve profitability over the medium term.
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