Rocket Companies Posts $2.94B Q1 Revenue, $297M Net Income and $738M EBITDA
RKT•Rocket Companies generated Q1 net revenue of $2.94B, up from $1.10B year-over-year, with GAAP net income of $297M versus a $212M loss and adjusted EBITDA of $738M. Liquidity reached $9.4B, and Mr. Cooper integration is on track to deliver $400M in synergies by end-2026.
1. Q1 2026 Financial Performance
Rocket Companies delivered net revenue of $2.94 billion in Q1 2026, up 167% year-over-year from $1.10 billion, and achieved GAAP net income of $297 million versus a $212 million loss in the prior year. Adjusted EBITDA reached $738 million, more than four times the $169 million reported in Q1 2025.
2. Volume and Liquidity
The firm generated $49.4 billion in net rate lock volume and $44.7 billion in closed mortgage origination volume, with a total gain on sale margin of 2.74%. Quarter-end liquidity stood at $9.4 billion, comprising $2.7 billion of cash and equivalents, $2.3 billion of undrawn credit lines and $4.4 billion in undrawn MSR and advance facilities.
3. Strategic Integration and Synergies
Since closing the Mr. Cooper acquisition in October 2025, the company has migrated over half of the servicing portfolio to its unified platform. Integration is on track to deliver $400 million in expense synergies by year-end 2026, one year ahead of schedule.
4. Technology and Product Innovations
AI-driven prospecting added an incremental $1 billion in monthly volume for the second consecutive quarter, freeing up loan officer capacity and boosting conversion rates. The company also rolled out the Power Play initiative and the Jupiter loan origination system to enhance broker competitiveness and speed to close.
