Rocket Companies, Inc. · NYSE:RKT
Rocket Companies — Q1 2026 Earnings Presentation
36 slides from Rocket Companies's earnings presentation, May 7, 2026
Slide 1: Investor Presentation May 2026
Investor Presentation May 2026
Slide 2: Disclaimer
Disclaimer This presentation contains and related discussions may contain “forward-looking statements” within the meaning of U.S. We define “Adjusted EBITDA” as net income (loss) before interest and amortization expense on non-funding debt, provision federal securities laws. Forward-looking statemen
Slide 3: Table of contents
Table of contents 01 Q1-26 highlights| 4 - 6 02 Company overview | 7 - 12 03 Category of one | 13 - 20 04 Proven leadership and culture | 21 - 25 05 Financials | 26 - 36 Investor Presentation | May 2026 3 of 36
Slide 4: Q1-26 highlights
01 Q1-26 highlights Investor Presentation | May 2026 4 of 36
Slide 5: Q1-26 financial highlights
Q1-26 financial highlights $2.8B Adjusted revenue Beat high end of adjusted Gained market share $738M revenue guidance, most profitable quarter in 4 years in purchase and refinance year-over-year Adjusted EBITDA $422M Adjusted net income Incremental $1B monthly Integration $0.15 origination volume f
Slide 6: Q1-26 financial highlights
Q1-26 financial highlights ($ in M) Adjusted Revenue ($ in M) Adjusted EBITDA $2,822 $738 $2,571 $592 $1,872 $1,360 $1,431 10% $349 25% vs Q4-25 vs Q4-25 $169 $172 Q1-25 Q2-25 Q3-251 Q4-251 Q1-26 Q1-25 Q2-25 Q3-251 Q4-251 Q1-26 Gain on sale margin %, excluding correspondent: EBITDA margin % 2.89% 2.
Slide 7: Company overview
02 Company overview Investor Presentation | May 2026 7 of 36
Slide 8: Rocket is on a mission to Help Everyone Home.
Rocket is on a mission to Help Everyone Home. Investor Presentation | May 2026 8 of 36
Slide 9: Pioneering the future of homeownership
Pioneering the future of homeownership Since 1985, we've been committed to innovating on and improving the buying experience for everyone. 40 years #1 #1 of operating history mortgage lender1 mortgage servicer2 $2T 9.4M cumulative origination volume servicing clients2 1) 2025 HMDA data based on clos
Slide 10: Most awarded mortgage brand
Driving our unmatched client service Rocket Mortgage has earned 23 J.D. Power awards across mortgage origination and servicing, with 11 years as the top-ranked mortgage servicer. We've built our reputation for exceptional service by delighting millions — every client, every time. 70+ net Most awarde
Slide 11: Trusted partner for major moments
Trusted partner for major moments By integrating search, financing, closing and servicing, Rocket creates lifelong client relationships that compound in value. An end-to-end ecosystem for every step of the client journey. Year 1: Purchase first home Year 3: Refinance into lower rate Year 5: Purchase
Slide 12: A large and fragmented market
A large and fragmented market $5T 2 The homeownership market represents a significant $2T 3 opportunity that Rocket is uniquely equipped to capture. Mortgage Total addressable origination homeownership market market The opportunity top 10 players hold only 23% of mortgage originations.4 1) Bureau of
Slide 13: Category of one
03 Category of one Investor Presentation | May 2026 13 of 36
Slide 14: Rocket: category of one
Rocket: category of one Expansive distribution engine Integrated ecosystem AI-powered data and technology platform Investor Presentation | May 2026 14 of 36
Slide 15: Homeownership lifecycle in one ecosystem
Homeownership lifecycle in one ecosystem The only scaled, end-to-end ecosystem delivering a seamless, vertically integrated experience reducing friction and deepening lifelong customer relationships. Home search Rental Real estate brokerage Personal finance An integrated homeownership ecosystem Loan
Slide 16: Expansive distribution engine
Expansive distribution engine Rocket’s expansive distribution network connects high intent clients with hundreds of thousands of real estate agents and over ten thousand loan officers and mortgage broker partners. Industry professionals High-intent clients 3K+ 8K+ 12M Rocket Rocket Pro Rocket Mortga
Slide 17: Technology platform built for homeownership
Technology platform built for homeownership Built for the AI era, Rocket’s proprietary platform leverages 30+ petabytes of data to drive conversion and scalable capacity. Front-end Home Mortgage Mortgage 3rd party Personal client experience search origination servicing origination finance Business H
Slide 18: Proprietary dataset across homeownership
Proprietary 9.4M servicing clients dataset across homeownership 200+ 180M lifecycle trained home and AI models rental listings Our proprietary data gets smarter with every client transaction. Data turns intent into execution, and execution into an ongoing relationship. 50M 162M Redfin Redfin MAU MAU
Slide 19: AI drives real business value
AI drives real business value Rapid AI deployment drives faster scale, higher conversion, more capacity and better unit economics – all while delivering great client experiences. Digital purchase pre-approval AI prospecting Digital refinance AI-powered approvals available 24/7 Agentic AI automates t
Slide 20: Driven by a seamless origination and servicing experience
Driven by a seamless origination and servicing experience We aim to delight every client, from the very first interaction and every time after, which is why our recapture rate~3X higher than the industry average.2 #1 Originator #1 Servicer 62M+ monthly visitors ~80% recapture1 9.4M servicing clients
Slide 21: Proven leadership and culture
04 Proven leadership and culture Investor Presentation | May 2026 21 of 36
Slide 22: Our unrivaled leadership team
Our unrivaled leadership team Rocket Companies is driven by experienced leaders – this collective strength enables Rocket to navigate change with confidence, foster innovation and execute on our mission to Help Everyone Home. Varun Krishna Brian Brown Jay Bray Shawn Malhotra Kelly Ann Doherty Chief
Slide 23: Culture is our foundation
Culture is our foundation We are grounded in 16 ISM: You’ll see it when you believe it. ISM: Every client. Every time. philosophies, known as “ISMs,” which serve as our guiding principles for success and reflect our core values. ISM: Launch and learn. ISM: Do the right thing. 100 Best Companies To W
Slide 24: Driving transformation of homeownership
Driving transformation of homeownership June 1985 March 1998 January 2002 June 2011 October 2019 September 2023 March 2025 October 2025 Rock Financial In a groundbreaking First fully electronic Quicken Loans Rocket Mortgage Varun Krishna Rocket announces Rocket officially founded by email, Dan Gilbe
Slide 25: Investor Presentation | May 2026
Investor Presentation | May 2026 25 of 36
Slide 26: Financials
05 Financials Investor Presentation | May 2026 26 of 36
Slide 27: Transformational servicing scale
Transformational $2,122 servicing scale $2,110 Servicing portfolio generates stable cash flows while balancing the business and fueling new growth through Rocket’s powerful recapture engine. Mr. Cooper acquisition closed Oct. 1 $613 $600 $609 Q1’25 2Q’25 4Q’25 Q1’26 (UPB¹, $ in B) 3Q’25 Q1-25 Q2-25
Slide 28: Strong liquidity position
Strong liquidity position RKT rated investment grade Cash and cash Undrawn available mortgage Undrawn lines equivalents servicing rights and advance facilities of credit $2.7B $4.4B $2.3B $9.4B total $6.7B available on lines of credit Investor Presentation | May 2026 28 of 36
Slide 29: Financial highlights
Financial highlights 2025 2026 ($ in M, except per share amounts) Q3² Q4³ Q1 Q2E¹ Q1 Q2 Adjusted revenue $1,360 $1,431 $1,872 $2,571 $2,822 $2,700-$2,900 YoY % 12% 9% 31% 103% 108% QoQ % 7% 5% 31% 37% 10% Adjusted EBITDA $169 $172 $349 $592 $738 % margin 12% 12% 19% 23% 26% Adjusted net income $80 $
Slide 30: Operational highlights
Operational highlights 2025 2026 ($ in M) Q1 Q2 Q3 Q4 Q1 Servicing portfolio (UPB) $600,387 $609,204 $613,146 $2,121,883 $2,109,774 YoY % 18% 14% 12% 258% 251% QoQ % 1% 1% 1% 246% (1%) Closed loan volume $21,584 $29,056 $32,413 $47,299 $44,653 YoY % 7% 18% 14% 70% 107% QoQ % (22%) 35% 12% 46% (6%) N
Slide 31: Endnotes
Endnotes1 2025 2026 9 10 Q1 Q2 Q3 Q4 Q1 ($ in M) (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) Net income (loss) ($212) $34 ($124) $68 $297 1 Bond interest expense 38 45 111 140 139 Provision for (benefit from) income taxes (11) (10) (60) 101 103 2 Depreciation and amortization 27 28 3
Slide 32: Endnotes
Endnotes1 2025 2026 Q1 Q2 Q3² Q4³ Q1 ($ in M) (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) Total revenue, net $1,101 $1,451 $1,695 $2,823 $2,941 Change in fair value of MSRs and related liabilities due to valuation 259 (20) 177 (252) (119) 1 assumptions (net of hedges) Adjusted revenu
Slide 33: Endnotes
Endnotes1 1) Reflects net income (loss) to Class A common shares from pro forma exchange and conversion of corresponding shares of our Class D common shares held by non-controlling interest holders during the periods ended. Class D common shares were exchanged and retired on June 30, 2025, the date
Slide 34: Servicing Portfolio
Servicing Portfolio 2026 Q1 ($ in M, UPB) MSR Subservicing and Other Total Balance at beginning of period $1,290,325 $831,558 $2,121,883 Originations 40,160 29 40,189 Acquisitions / increase in subservicing1 11,873 55,760 67,633 Dispositions / decrease in subservicing2 (39,812) (12,202) (52,014) Run
Slide 35: Endnotes
Endnotes1 2) “Adjusted EBITDA Margin” calculated as Adjusted EBITDA divided by Adjusted Revenue. “Adjusted Net Income Margin” calculated as Adjusted Net Income divided by Adjusted Revenue. We define “Adjusted revenue” as total revenues net of the value of MSRs and related liabilities due to valuatio
Slide 36: Thank you.
Thank you. Investor Presentation | May 2026