The company accelerated its diversification with the acquisitions of Redfin and Mr. Cooper, resulting in $2.8 billion in revenue.
Rocket entered a new chapter last year, and on Thursday shared results showing how the company has evolved into an end-to-end real estate company built to withstand a highly volatile housing market.
The results shed more light on the platform Rocket built through its acquisitions of Redfin and Mr. Cooper, and how it applied artificial intelligence to its massive network and database.
“The idea is very simple: Inventory drives traffic, traffic drives leads, leads drive mortgages. Mortgages drive services, which drives collections,” Rocket CEO Varun Krishna said Thursday on a call with investors to discuss the company’s performance for the first three months of the year.
During the conference call, Mr. Krishna shared exclusive insight into how the upcoming going public partnership with Compass announced during the quarter is working for both Rocket and Compass.
Krishna said Rocket has created about 10,000 exclusive listings on Redfin, but declined to say whether that includes listings that Redfin agents will soon publish on the platform.
Krishna said Rocket currently provides nearly 30,000 leads to Compass through this partnership. Currently, about a quarter of purchase loan applications come from Compass, he added.
The company also said the quarter demonstrated its ability to withstand any housing market and excel during rebounds.
“The first quarter was a rocky one,” Rocket CEO Varun Krishna said on a call with investors Thursday.
Rocket made a profit of $297 million despite a volatile real estate market, with interest rates rising from just under 6% to 6.5% heading into the spring buying season.
CEO Varun Krishna said, “We have performed well in a volatile market. We are creating opportunities using AI, data and distribution rather than waiting for what the market will give us.” “Rocket is no longer the same company we were three years ago. The shape of our business has not only changed, it has fundamentally evolved.”
As Krishna explained, the workings of an evolved enterprise include “platforms, distribution engines, and ecosystems.”
Rocket reported that since acquiring Redfin in July 2025, the number of prospective buyers supplied to Rocket’s mortgage division has more than tripled.
Due to advances in AI integration, Rocket said it has increased its loan volume by $2 billion per month over the past two quarters.
Krishna said the company is leveraging AI to increase the number of pre-approvals, rapidly improve processing speeds, and free up employees to spend time where humans are needed more.
Rocket currently serves an industry-high 9.4 million homeowners with $2.1 trillion in outstanding principal.
Chief Financial Officer Brian Brown said on a conference call that the company is no longer sensitive to interest rate cycles. At the same time, the company is currently preparing for “significant upside if interest rates fall.”
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