Rocket Companies, Inc. · NYSE:RKT
Rocket Companies — Investor Presentation (July 2025)
43 slides from Rocket Companies's investor presentation, July 2025
Slide 1: Investor Presentation
Investor Presentation July 2025 Investor Presentation | July 2025 1 of 43
Slide 2: Disclaimer
Disclaimer This presentation contains and related discussions may contain “forward-looking statements” within the meaning of U.S. federal securities laws. Forward-looking statements include information concerning possible or assumed future results of operations, Rocket Companies, Inc.’s (the ”Compan
Slide 3: Table of contents
Table of contents 1 Overview | 4 - 6 2 Massive market opportunity | 7 - 11 3 Integrated homeownership platform | 12-19 4 AI-fueled experiences | 20-25 5 Proven leadership and culture | 26-29 6 Financials | 30-34 Investor Presentation | July 2025 3 of 43
Slide 4: Overview
1 Overview Investor Presentation | July 2025 4 of 43
Slide 5: Rocket is on a mission to Help Everyone Home
Overview Rocket is on a mission to Help Everyone Home Investor Presentation | July 2025 5 of 43
Slide 6: America's pioneer in transforming homeownership
Overview America’s pioneer in transforming homeownership Since 1985, we've been committed to innovating on and improving the homebuying experience. Now more than ever, Rocket is poised to reshape the future of homeownership. 40 $1.9T+ #1 10M years of total transaction mortgage clients operating hist
Slide 7: Massive market opportunity
2 Massive market opportunity Investor Presentation | July 2025 7 of 43
Slide 8: A large and fragmented market
Massive market opportunity A large and fragmented $29T 1 market Homeownership represents a significant opportunity that Gross domestic product Rocket is uniquely equipped to capture. Total addressable homeownership market $5T 2 Mortgage origination market $2T 3 Highly fragmented: top 10 players hold
Slide 9: Homeownership is the cornerstone of the American dream
Massive market opportunity Homeownership is the cornerstone 50% of the American of renters today are “rent burdened.”1 dream 92% of Americans believe that Yet, many feel intimidated by the process homeownership and believe this dream is out of reach. is an essential Rocket's mission is to make ownin
Slide 10: Homebuying is complicated, stressful and expensive
Massive market opportunity Homebuying is complicated, Home Search stressful and expensive Listing agent fee $12K Sell !? Title and closing Title premium $1K We are leveraging our strengths to transform the homebuying experience into one that is modern, seamless and more affordable. Buyer’s Mortgage
Slide 11: Disruption is in our DNA
Massive market opportunity Disruption is in our DNA Market share of category leaders Homeownership is one of the last frontiers, ripe for technology-driven Mortgage The potential disruption. We are positioning Rocket to be in a category of its own — a business with a Retail brokerage significantly l
Slide 12: Integrated homeownership platform
3 Integrated homeownership platform Investor Presentation | July 2025 12 of 43
Slide 13: Homeownership partner for life
Integrated homeownership platform Homeownership partner for life An end-to-end platform… …every step of the client journey. Year 1 Purchase first home Year 3 Home search Refinance into lower rate Home financing Year 5 Purchase bigger home Title and closing Year 10 Cash out equity for kitchen remodel
Slide 14: Scale from home search to close
Integrated homeownership platform Scale from home search to close #1 brand Household brand in mortgage1 for buying and selling homes origination clients 365K #1 largest mortgage originator in the U.S.2 + #1 most visited real estate brokerage website 2.2K lead agents 2.8M ~50M monthly visitors servic
Slide 15: Rocket + Redfin: redefining a category
Integrated homeownership platform Rocket + Redfin: redefining a category Together, Rocket and Redfin are meeting clients at key decisions in the homebuying journey to provide a seamless experience from home search to financing, fundamentally changing the way homes are bought, sold, and financed. Bra
Slide 16: Industry leading recapture rates
Integrated homeownership platform Industry leading recapture rates Our recapture rate is more than 3x Our client-first mentality fuels our industry- leading recapture rates — clients return to 83% Rocket at three times the industry average. We aim to delight every client, from the very first interac
Slide 17: Breadth of reach with multi-channel approach
Integrated homeownership platform Breadth of reach with multi-channel approach 62M+ monthly visitors High recapture drives repeat origination $0 client acquisition cost (CAC) through recapture 2.8M servicing clients Investor Presentation | July 2025 17 of 43
Slide 18: Executing continuous product innovation
Integrated homeownership platform Executing continuous product innovation AVM and Expansion for Seconds Our ecosystem empowers us to rapidly launch Expanded FHA Condo BorrowerSmart Super FHA MIP Access Jumbo products that address their and VA Guides Simply Reductions Bridge Loan evolving needs — a c
Slide 19: Driving our unmatched client service
Integrated homeownership platform Driving our unmatched client service Rocket Mortgage has earned 23 J.D. Power awards across mortgage origination 70+ net promoter score 97% net client retention and servicing, with 11 years as the top- ranked mortgage servicer. We've built our reputation for excepti
Slide 20: AI-fueled experiences
4 AI-fueled experiences Investor Presentation | July 2025 20 of 43
Slide 21: AI-fueled homebuying journey
AI-fueled experiences AI-fueled homebuying journey Financing 65M mortgage Servicing Search 104M home and rental call logs properties on platform 1M team member hours 189M monthly active saved by automation user sections 200+ trained 19M data points AI models 360° client view on agent behavior 10PB o
Slide 22: Transforming Rocket's business
AI-fueled experiences Transforming Rocket’s business With $500M invested in AI over the last five years, Rocket has built 200+ proprietary AI models powered by 6TB of structured data, solidifying our position as an industry leader. Banker comm platform Agentic chat Fully automating Chat available 24
Slide 23: AI and automation driving higher capacity in mortgage underwriting
AI-fueled experiences AI and automation driving higher capacity in mortgage underwriting 1.1M hours saved annually Increasing levels of AI and automation to supercharge operations team members 0 Document Document data Income Asset Property classification extraction verification verification verifica
Slide 24: Our proprietary platform
AI-fueled experiences Our proprietary platform Front-end Home Mortgage Mortgage 3rd party Personal client experience search origination servicing origination finance Business Home Mortgage Pricing and Mortgage Partnership Personal money capabilities search origination capital markets servicing capab
Slide 25: Extending the power of our platform to partners
AI-fueled experiences Extending the power of our platform to partners We’ve built industry-leading capabilities in our direct-to-consumer channel and are extending them to support the growth and success of our wholesale and enterprise partners. Business Home Mortgage Pricing and Mortgage Partnership
Slide 26: Proven leadership and culture
5 Proven leadership and culture Investor Presentation | July 2025 26 of 43
Slide 27: Our unrivaled leadership team
Proven leadership and culture Our unrivaled leadership team Rocket Companies is driven by an experienced leadership team – this collective strength enables Rocket to navigate change with confidence, foster innovation, and execute on our mission to Help Everyone Home. Varun Bill Brian Heather Glenn K
Slide 28: Culture is our foundation
Proven leadership and culture Culture is our foundation Our culture is grounded in 16 updated 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. IS
Slide 29: Investor Presentation | July 2025 29 of 43
Investor Presentation | July 2025 29 of 43
Slide 30: Financials
6 Financials Investor Presentation | July 2025 30 of 43
Slide 31: Financial highlights
Financials Financial highlights Adjusted revenue Adjusted EBITDA $M $M $1,323 $1,340 $1,296 $286 $1,228 $1,187 $1,163 $1,002 $225 $885 $174 $177 $172 $169 34% 32% $73 11% $55 9% Q3’23 Q3’24 Q4’23 Q4’24 Q1’24 Q1’25 Q2’24 Q2’25 Q3’23 Q4’23 Q1’24 Q2’24 Q3’24 Q4’24 Q1’25 Q2’25 Gain on sale margin % EBIT
Slide 32: Strong liquidity position
Financials Strong liquidity position Cash and cash Discretionary Undrawn mortgage Undrawn lines equivalents1 self-funding servicing rights facilities of credit $5,100M $900M $2,000M $1,100M $9.1B Total $6.0B $3.1B Available cash position Available on lines of credit 1. In June 2025, the Company issu
Slide 33: Servicing portfolio
Financials Servicing portfolio $609B serviced UPB1 2.8M loans serviced1 $1.6B recurring servicing fee income $7.6B MSR fair value Note: As of June 30, 2025. 1) Includes subservicing. Investor Presentation | July 2025 33 of 43
Slide 34: Pro forma share count
Financials Pro forma share count + + + 2024 10K filing Post RDFN close Post RDFN and COOP close Class A 7% Class A 12% Class A 35% Class D 93% Class L1 88% Class L1 65% Total outstanding Total estimated Total estimated 2.00 B 2.11 B 2.83 B shares fully diluted shares fully diluted shares 1) On 6/30/
Slide 35: Appendix
Appendix Investor Presentation | July 2025 35 of 43
Slide 36: Driving transformation of the homeownership industry
Appendix Driving transformation of the homeownership industry Rock Financial Mortgage in a Box In a groundbreaking RockLoans.com founded by Dan released, enabling email, Dan Gilbert launched, catapulting Gilbert, later to be mortgage applications pledges full resources the Company to be one known as
Slide 37: MSR value over time
Appendix MSR value over time MSRs, At Fair Value (B ) Total Serviced UPB (B) $8.0 $ 700 $7.6 $7.6 97% $7.3 $7.3 $7.2 $6.9 $ 650 $7.0 $6.7 $6.8 $6.7 $6.7 $6.7 $6.5 net client $6.4 $6.4 $6.0 retention rate $ 600 Total Serviced UPB ($B) as of 6/30/25 $5.4 MSR, At Fair Value ($B) $ 550 $4.7 $5.0 $4.6 $4
Slide 38: Financial highlights
Appendix Financial highlights Note: See endnote (1) in 2024 2025 Appendix for non-GAAP reconciliation; see endnote (2) for Adjusted revenue, Adjusted ($ in M) Q2 Q3 Q4 Q1 Q2 Q3E1,2 EBITDA, and Adjusted net income definitions. Certain figures throughout this document may not foot due Adjusted revenue
Slide 39: Endnotes (1)
Appendix Endnotes(1) 2024 2025 Q2 Q3 Q4 Q1 Q2 ($ in M) (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) Net income (loss) $178 ($481) $649 ($212) $34 Interest and amortization expense on 38 39 38 38 45 non-funding debt 1 Provision for (benefit from) income taxes 14 (16) 26 (11) (10) Depre
Slide 40: Endnotes (1)
Appendix Endnotes(1) 2024 2025 ($ in M) Q2 Q3 Q4 Q1 Q2 (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) Total revenue, net $1,301 $647 $1,769 $1,037 $1,360 Change in fair value of MSRs due to (73) 676 (582) 259 (20) valuation assumptions (net of hedges) 1 Adjusted revenue $1,228 $1,323 $1
Slide 41: Endnotes (1)
Appendix Endnotes(1) 2024 2025 ($ in M) Q2 Q3 Q4 Q1 Q2 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 (Unaudited) (Una
Slide 42: Endnotes
Appendix Endnotes (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 change in fair value of mortgage servicing r
Slide 43: Thank you
Thank you Investor Presentation | July 2025 43 of 43