Rocket Companies reported $709 million net income for Q3 2026

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For the quarterly period ended June September 30, 2026

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As of July 31, October 23, 2026, 1,906,422,676 1,913,456,820 shares of the registrant's registrant s Class A common stock, $0.00001 par value, and 925,219,745 924,439,745 shares of the registrant's registrant s Class L common stock, $0.00001 par value, were outstanding.

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For the period ended June September 30, 2026

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Exhibits 6 changes

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Bridge Facility a 364-day senior unsecured bridge term loan facility

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Correspondent Delegated correspondent channel through which Rocket p urchases purchases closed mortgage loans from approved third-party originators and financial institutions that have been underwritten in accordance with investor guidelines

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NAR National Association of REALTORS

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PII Personally Identifiable Information

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Rocket Homes Rocket Homes Real Estate LLC

Rocket Loans Rocket Personal Finance Holdings, LLC, formerly RockLoans Holdings LLC

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Financial statements 563 changes

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June September 30, 2026 December 31, 2025

Cash and cash equivalents $ 3,103 2,699 $ 2,696

Mortgage loans held for sale, at fair value 15,548 13,218 15,471

Derivative assets, at fair value 490 981 360

Mortgage servicing rights, at fair value 18,905 20,257 19,442

Advance receivables, net of reserves and discount of $ 135 157 and $ 120 , respectively

Property and equipment, net of accumulated depreciation of $ 757 788 and $ 695 , respectively

Loans subject to repurchase right from Ginnie Mae 5,768 5,476 5,125

Intangible assets, net of accumulated amortization 1,995 1,880 2,224

Goodwill 10,611 10,686 10,611

Other assets 2,738 2,995 2,456

Total assets $ 60,977 60,154 $ 60,685

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Secured financing $ 16,639 $ 17,936

Total liabilities $ 37,431 $ 37,787

Retained earnings 651 124

Secured financing $ 14,187 $ 17,936

Unsecured financing, net 10,772 10,716 10,423

Derivative liabilities, at fair value 85 798 145

Loans subject to repurchase right from Ginnie Mae 5,768 5,476 5,125

Accounts payable and other liabilities 4,167 4,666 4,158

Total liabilities $ 35,843 $ 37,787

Preferred stock, $ 0.00001 par value - 500,000,000 shares authorized as of June September 30, 2026 and December 31, 2025, none issued and outstanding as of June September 30, 2026 and December 31, 2025.

Class A common stock, $ 0.00001 par value - 10,000,000,000 shares authorized as of June September 30, 2026 and December 31, 2025, 981,617,910 1,912,084,674 and 969,277,991 shares issued and outstanding as of June September 30, 2026 and December 31, 2025, respectively.

Class L common stock, $ 0.00001 par value - 6,000,000,000 shares authorized as of June September 30, 2026 and December 31, 2025, 924,439,745 and 1,848,879,455 shares issued and outstanding as of June September 30, 2026 and December 31, 2025, respectively.

Additional paid-in capital 22,894 22,951 22,774

Retained earnings 1,359 124

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Total equity 23,546 22,898

Total equity 24,311 22,898

Total liabilities and equity $ 60,977 60,154 $ 60,685

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Three Months Ended June 30, Six Months Ended June 30,

Three Months Ended September 30, Nine Months Ended September 30,

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Fair value of originated MSRs 759 343 1,447 608

Servicing fee income 1,066 401 2,149 802

Loan servicing income, net 450 202 1,048 154

Interest income 583 237 1,090 438

Other income 546 196 1,006 373

Total revenue, net 2,784 1,451 5,725 2,553

Salaries, commissions and team member benefits 1,050 623 2,129 1,233

General and administrative expenses 568 287 1,103 548

Marketing and advertising expenses 291 276 636 552

Interest expense 374 155 723 264

Depreciation and amortization 145 27 291 54

Other expenses 75 59 162 100

Total expenses 2,503 1,427 5,044 2,751

Net income (loss) 229 34 526 ( 178 )

Gain on sale of loans excluding fair value of originated MSRs, net $ 446 302 $ 473 641 $ 1,134 1,436 $ 980 1,621

Fair value of originated MSRs 726 386 2,173 994

Gain on sale of loans, net 1,205 816 2,581 1,588 1,028 1,027 3,609 2,615

Loan servicing income (loss)

Servicing fee income 1,032 413 3,181 1,215

Change in fair value of MSRs, net ( 616 ) 156 ( 199 480 ) ( 1,101 945 ) ( 648 1,128 )

Loan servicing income (loss), net 1,188 ( 67 ) 2,236 87

Interest income 550 290 1,640 728

Other income 518 445 1,524 818

Total revenue, net 3,284 1,695 9,009 4,248

Salaries, commissions and team member benefits 935 875 3,064 2,108

General and administrative expenses 559 355 1,662 903

Marketing and advertising expenses 253 274 889 826

Interest expense 359 235 1,082 499

Depreciation and amortization 147 79 438 133

Other expenses 73 62 235 162

Total expenses 2,326 1,880 7,370 4,631

Income (loss) before income taxes 281 24 681 958 ( 198 185 ) 1,639 ( 383 )

(Provision for) benefit from income taxes ( 52 249 ) 10 61 ( 155 404 ) 20 81

Net income (loss) 709 ( 124 ) 1,235 ( 302 )

Net loss (income) attributable to non-controlling interest 1 ( 36 ) 1 166

Net income (loss) attributable to Rocket Companies $ 230 709 $ ( 2 124 ) $ 527 1,236 $ ( 12 136 )

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Basic $ 0.08 $ ( 0.01 ) $ 0.19 $ ( 0.08 )

Diluted $ 0.08 $ ( 0.01 ) $ 0.19 $ ( 0.08 )

Basic $ 0.25 $ ( 0.06 ) $ 0.44 $ ( 0.17 )

Diluted $ 0.25 $ ( 0.06 ) $ 0.43 $ ( 0.17 )

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Basic 2,836,345,108 171,438,105 2,832,422,032 159,643,228

Diluted 2,843,538,118 171,438,105 2,843,996,649 159,643,228

Basic 2,839,534,880 2,106,227,188 2,834,819,036 815,634,892

Diluted 2,845,400,003 2,106,227,188 2,844,794,900 815,634,892

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Net income (loss) $ 229 $ 34 $ 526 $ ( 178 )

Cumulative translation adjustment 1 1

Comprehensive income (loss) 229 35 526 ( 177 )

Net income (loss) $ 709 $ ( 124 ) $ 1,235 $ ( 302 )

Cumulative translation adjustment ( 7 ) ( 1 ) ( 7 )

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and 483 more changes in the filing

Forward-looking statements 325 changes

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In the second quarter of 2026, the ongoing conflict in the Middle East contributed to higher energy prices and renewed inflation concerns. At its April and June meetings, the Federal Reserve maintained the federal funds target range at 3.50% to 3.75%. However, market expectations shifted away from anticipating rate cuts and moved towards anticipating potential rate increases. Alongside this shift, in its June Summary of Economic Projections, the Federal Reserve raised its projections for inflation and the 2026 year-end federal funds rate.

The 10-year Treasury yield increased during the quarter, while the 30-year fixed mortgage rate remained elevated and volatile, declining in April before increasing in May and remaining near 6.5% through the end of the quarter. Improving labor market conditions and wage growth provided some support to the housing market, but this was counteracted by elevated mortgage rates and continued affordability challenges. These conditions weighed on purchase and refinance activity and resulted in a muted spring homebuying season.

Home affordability remained challenged in the third quarter of 2026 as the 30-year fixed mortgage rate rose over 80 basis points, from 6.43% in early July to 7.28% at the end of September, the highest rate since late 2023. Several developments drove the increase. Inflation was above the Federal Reserve s 2% target, due in part to higher energy prices associated with the ongoing conflict in the Middle East, while spending on AI infrastructure added to inflationary pressures. On September 16, the Federal Reserve raised the federal funds target range by 25 basis points to a range of 3.75% to 4.00%, its first increase since July 2023. The rate increase, along with greater government and corporate borrowing that increased debt supply relative to demand, contributed to a sharp 80 basis point increase in the 10-year Treasury yield to 5.3%, the highest level since 2002.

Higher interest rates impacted both purchase and refinance activity. Existing home sales fell below a 4-million-unit annualized pace, and mortgage applications softened over the course of the quarter. These factors contributed to a smaller mortgage market in the third quarter compared to the second quarter.

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Three months ended June September 30, 2026 summary

We generated $93.8 $43.6 billion in total closed mortgage loan origination volume, an increase of $43.1 $11.2 billion, or 85%, 35%, compared to $50.6 $32.4 billion in 2025. Our Net income for the period was $526 $709 million, an increase of $704 $833 million, compared to a Net loss of $178 $124 million in 2025. We generated Adjusted EBITDA of $1.5 billion, $748 million, an increase of $1.2 billion, $399 million, compared to $342 $349 million in 2025. For more information on Adjusted EBITDA, please see Non-GAAP Financial Measures below.

Six Nine months ended June September 30, 2026 summary

We generated $49.1 $137.4 billion in total closed mortgage loan origination volume, an increase of $20.1 $54.3 billion, or 69%, 65%, compared to $29.1 $83.1 billion in 2025. Our Net income for the period was $229 million, $1.2 billion, an increase of $195 million, $1.5 billion, compared to a Net income loss of $34 $302 million in 2025. We generated Adjusted EBITDA of $766 million, $2.3 billion, an increase of $594 million, $1.6 billion, compared to $172 $690 million in 2025. For more information on Adjusted EBITDA, please see Non-GAAP Financial Measures below.

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We define Adjusted revenue as Total revenue, net of the Change in fair value of MSRs and related liabilities due to valuation assumptions (net of hedges). We define Adjusted net income as Tax-effected Net income (loss) before Share-based compensation expense, the Change in fair value of MSRs and related liabilities due to valuation assumptions (net of hedges), Acquisition-related expenses, Amortization of acquired intangible assets, Litigation accrual, Other adjustments and Tax impact of adjustments, and Other 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 outstanding and the Assumed pro forma conversion of Class D shares for the applicable period presented. We define Adjusted EBITDA as Net income (loss) before Bond interest expense, Provision for (benefit from) income taxes, Depreciation and amortization, Share-based compensation expense, Change in fair value of MSRs and related liabilities due to valuation assumptions (net of hedges), Acquisition-related expenses, Amortization of acquired intangible assets, Litigation accrual and Other adjustments.

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Three Months Ended June 30, Six Months Ended June 30,

Three Months Ended September 30, Nine Months Ended September 30,

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(1) Reflects changes in market interest rates and assumptions, including OAS and prepayment speeds, cost to service per loan, gains or losses on sales of MSRs during the period and the effects of contractual prepayment protection associated with sales or purchases of MSRs.

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Three Months Ended June 30, Six Months Ended June 30,

Three Months Ended September 30, Nine Months Ended September 30,

Net income (loss) attributable to Rocket Companies $ 230 709 $ (2) (124) $ 527 1,236 $ (12) (136)

Net income loss impact from pro forma conversion of Class D common shares to Class A common shares (1)

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Adjusted net income $ 441 $ 75 $ 863 $ 155

Share-based compensation expense 90 52 178 92 (3)

Change in fair value of MSRs and related liabilities due to valuation assumptions (net of hedges) (3) (4)

Acquisition-related expenses (4) (5)

Amortization of acquired intangible assets (5) (6)

Litigation accrual (6) (7)

Tax impact of adjustments (7) (8)

Other adjustments (8) (9)

Adjusted net income $ 419 $ 158 $ 1,282 $ 313

(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 nine months ended June September 30, 2025. Class D common shares were surrendered and retired on June 30, 2025, the date the Up-C Collapse was effectuated.

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Three Months Ended June 30, Six Months Ended June 30,

Three Months Ended September 30, Nine Months Ended September 30,

Net income (loss) attributable to Rocket Companies $ 230 709 $ (2) (124) $ 527 1,236 $ (12) (136)

Net income loss impact from pro forma conversion of Class D common shares to Class A common shares (166)

Net loss attributable to non-controlling interest (1) (1)

Provision for (benefit from) income taxes 52 (10) 155 (20) 249 (61) 404 (81)

Income (loss) before income taxes $ 281 958 $ 24 (185) $ 681 1,639 $ (198) (383)

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Adjustment to income taxes $ (21) $ (15) $ (20) $ 28

Three Months Ended June 30, Six Months Ended June 30,

Adjusted (Provision for) benefit from income taxes $ (73) (244) $ (5) 47 $ (175) (419) $ 48 95

Provision for (benefit from) income taxes 52 (10) 155 (20) 249 (61) 404 (81)

Adjustment to income taxes $ 5 $ (14) $ (15) $ 14

Three Months Ended September 30, Nine Months Ended September 30,

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State and local income taxes (net of federal benefit) 4.59 0.38 3.79 4.59 3.67 3.73

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(3) The three and nine months ended September 30, 2025 exclude share-based compensation expense related to the Redfin Acquisition, which is included in Acquisition-related expenses.

(3) (4) Reflects changes in market interest rates and assumptions, including OAS and prepayment speeds, cost to service per loan, gains or losses on sales of MSRs during the period and the effects of contractual prepayment protection associated with sales or purchases of MSRs.

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

(5) (6) Reflects amortization of intangible assets related to the Acquisitions.

(6) (7) Reflects litigation accrual related to a specific legal matter recorded in 2026.

(7) (8) Tax impact of adjustments gives effect to the income tax related to Share-based compensation expense, Change in fair value of MSRs and related liabilities due to valuation assumptions (net of hedges), Acquisition-related expenses, Amortization of acquired intangible assets, Litigation accrual and certain Other adjustments, at the effective tax rates for each period.

(8) (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 the TRA, and change in equity investments and change in Tax receivable agreement liability.

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Three Months Ended June 30, Six Months Ended June 30,

Diluted weighted average Participating Common Stock outstanding 2,843,538,118 171,438,105 2,843,996,649 159,643,228

Three Months Ended September 30, Nine Months Ended September 30,

Diluted weighted average Participating Common Stock outstanding 2,845,400,003 2,106,227,188 2,844,794,900 815,634,892

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Adjusted diluted weighted average shares outstanding 2,843,538,118 2,000,000,231 2,843,996,649 1,998,307,907

Adjusted net income $ 441 $ 75 $ 863 $ 155

Adjusted diluted weighted average shares outstanding 2,845,400,003 2,106,227,188 2,844,794,900 2,034,676,309

Adjusted net income $ 419 $ 158 $ 1,282 $ 313

Adjusted diluted earnings per share $ 0.16 0.15 $ 0.04 0.07 $ 0.30 0.45 $ 0.08 0.15 (1) Reflects the pro forma exchange and conversion of anti-dilutive Class D common shares to Class A common shares. For the three and six nine months ended June September 30, 2025, Class D common shares were anti-dilutive and are excluded from the Diluted weighted average Participating Common Stock outstanding in the table above. Class D common shares were surrendered and retired on June 30, 2025, the date the Up-C Collapse was effectuated.

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Three Months Ended June 30, Six Months Ended June 30,

Net income (loss) $ 229 $ 34 $ 526 $ (178)

Three Months Ended September 30, Nine Months Ended September 30,

Net income (loss) $ 709 $ (124) $ 1,235 $ (302)

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Provision for (benefit from) income taxes 52 (10) 155 (20) 249 (61) 404 (81)

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Adjusted EBITDA $ 766 $ 172 $ 1,504 $ 342

Share-based compensation expense 90 52 178 92 (3)

Change in fair value of MSRs and related liabilities due to valuation assumptions (net of hedges) (3) (4)

Acquisition-related expenses (4) (5)

Amortization of acquired intangible assets (5) (6)

Litigation accrual (6) (7)

Other adjustments (7) (8)

Adjusted EBITDA $ 748 $ 349 $ 2,252 $ 690

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(7) Reflects change in equity investments, as well as changes in estimates of tax rates and other variables of the Tax receivable agreement liability.

(2) The three and six months ended June 30, 2026 exclude Excludes the impact of amortization of acquired intangible assets related to the Acquisitions, which is included as a separate adjustment line.

(3) The three and nine months ended September 30, 2025 exclude share-based compensation expense related to the Redfin Acquisition, which is included in Acquisition-related expenses.

(3) (4) Reflects changes in market interest rates and assumptions, including OAS and prepayment speeds, cost to service per loan, gains or losses on sales of MSRs during the period and the effects of contractual prepayment protection associated with sales or purchases of MSRs.

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

(5) (6) Reflects amortization of intangible assets related to the Acquisitions.

(6) (7) Reflects litigation accrual related to a specific legal matter recorded in 2026.

(8) Reflects change in equity investments and change in Tax receivable agreement liability.

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We operate other businesses that include Rocket Close (title and closing), Rocket Money (personal financial management), Redfin (real estate brokerage), and Rocket Loans (personal loans). Each of these businesses operate operates a distinct business models model and have has unique operating metrics.

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Three Months Ended June 30, Six Months Ended June 30,

DTC net rate lock volume $ 26,000 $ 17,875 $ 55,884 $ 34,443

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and 245 more changes in the filing

Controls and procedures 1 change

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Our management, with the participation of our CEO and CFO, has evaluated the effectiveness of our disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act), as of the end of the period covered by this Form 10-Q. Based on such evaluation, our CEO and CFO have concluded that as of June September 30, 2026, our disclosure controls and procedures are designed at a reasonable assurance level and are effective to provide reasonable assurance that information we are required to disclose in reports that we file or submit under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the rules and forms of the SEC, and that such information is accumulated and communicated to our management, including our CEO and CFO, as appropriate, to allow timely decisions regarding required disclosure.

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Other information 2 changes

Our insider trading policy permits our officers and directors to establish pre-approved stock trading plans pursuant to Rule 10b5-1 promulgated under the Exchange Act. Rule 10b5-1 allows insiders to adopt written stock trading plans at a time when they are unaware of material non-public information which establish predetermined trading parameters that do not permit the insider to subsequently exercise any influence over how, when or whether to effect trades.

On June 16, 2026 , Jay Bray , a member of our board of directors who also serves as the president and chief executive officer of Rocket Mortgage, adopted a pre-approved Rule 10b5-1 trading plan to sell up to 2,700,000 shares of our Class A common stock. Mr. Bray s Rule 10b5-1 trading plan was entered into during an open insider trading window and is intended to satisfy the affirmative defense of Rule 10b5-1(c) under the Exchange Act, and the Company s policies regarding transactions in Company securities. Mr. Bray s trading plan is scheduled to terminate on September 15, 2027 , subject to early termination for certain specified events set forth within the plan. As required by securities laws, completed trades under the trading plan are reported by the individual on Form 4s filed with the SEC.