Beeline (BLNE) investor relations material

Executive summary

• Achieved a transformational year with 127% year-over-year revenue growth in 2025, balance sheet simplification, public listing, and origination volume up 44% to $84.7 million.

• Introduced new digital mortgage capabilities and launched BeelineEquity, a capital-light, fee-based revenue stream, closing initial blockchain-recorded transactions and expanding the product pipeline.

• Ended 2025 with no corporate debt, strengthening the balance sheet and supporting future scalability.

• Focused on underserved borrower segments with a digital-first, AI-driven platform and integrated title services.

• Demonstrated operating leverage as revenue growth outpaced fixed cost increases.

Financial highlights

• Q4 2025 net revenues reached $2.5 million, up 127% year-over-year and 8.3% sequentially.

• Full-year 2025 revenue totaled $7.8 million, with gains on loan sales ($5.4M), origination fees ($1M), and title fees ($1.4M).

• Q4 operating loss was $8 million (half non-cash stock-based compensation); adjusted EBITDA was -$3.4 million.

• Full-year net loss was $31.5 million; adjusted EBITDA was -$11.8 million.

• Average revenue per loan rose 31% and average cost per loan fell 18%, with positive trends continuing into January 2026.

Outlook and guidance

• Management expects revenue and margin growth to accelerate in 2026, targeting a $100 million run rate over the next couple of years.

• Anticipates increasing warehouse lines in summer 2026 to support origination growth.

• Confident in growth and margin trajectory due to momentum in core lending and new equity platform.