Rocket Companies posted a first-quarter net loss of $212 million on net revenue of $1 billion, down from first-quarter net income of $291 million it recorded a year ago, the parent company of mortgage lending giant Rocket Mortgage reported Thursday.

Rocket Companies' net revenue of $1.0 billion during the first quarter is a slight decrease from $1.384 billion in the same period last year.

The company reported adjusted revenue of $1.296 billion for the first quarter, up from $1.163 billion a year ago.

"We entered 2025 with strength, delivering $1.3 billion in adjusted revenue, at the high end of our guidance range in the first quarter. This demonstrates the power of the Rocket platform and our ability to execute in any market," Varun Krishna, CEO and director of Rocket Companies, said in a statement Thursday. "With Redfin and Mr. Cooper, we are accelerating our mission to Help Everyone Home. By integrating home search, origination and servicing into one platform, Rocket is building the future of homeownership."

Rocket Companies reported $21.58 billion in closed loan origination volume for the first quarter of 2025, a 7% increase from $20.2 billion in the first quarter of 2024.

The gain-on-sale margin for the first quarter was 2.89%, down from 3.1% in the first quarter of 2024.

Rocket Companies' broader portfolio includes Rocket Mortgage, Rocket Loans, Rocket Homes and Rocket Money.

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