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Rocket Companies Business Segments

Business, geographic, and product segment breakdowns

Rocket Companies generates $8.6B in annual revenue across 2 key segments: Direct to Consumer ($3.2B), and Partner Network ($381.0M). Based on the Q1 2026 filing.

Direct to Consumer (TTM)$3.2BPartner Network (TTM)$381.0M
Latest FilingQ1 2026
Report Date2026-05-12
Market Cap$38.0B
P/E Ratio235.49
ROE-1.19%

Products & Services

Revenue

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Real Estate Brokerage—$0$0$177.2M$163.8M$138M
Subscription Revenue$74.9M$85M$86.9M$88.3M$91.3M$103M
Closing Fees$30.9M$24M$32M$35.5M$47.1M$49M
License—$0———$42M
Real Estate Exchange Revenue—$0———$15M
Appraisal Revenue$8.4M$9M$10.4M$11.4M$10.7M$11M
Real Estate Partner Revenue—$10M—$20.4M—$9M

Business Segments

Acquisitions

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Direct to Consumer—$2.1B$2.1B$2.1B$2.1B—

Contribution margin

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Direct to Consumer$375.7M$407M$367.5M$468.9M$849.8M$1.1B
Partner Network$77M$57M$83.4M$96M$149.9M$144M

Expense, Directly Attributable To Adjusted Revenue

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Direct to Consumer$527.9M$645M$642.8M$683.8M$925.4M$962M
Partner Network$57.9M$86M$64.8M$71.5M$88.7M$156M

Gain (Loss) on Sales of Loans, Net

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Direct to Consumer$579.8M$660M$668.1M$856.5M$945.8M$1.2B
Partner Network$118.3M$96M$126.2M$146.3M$216.7M$187M

General and administrative expenses

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Direct to Consumer$64.1M$78M$95.4M$96.6M$156.7M$168M
Partner Network$4.9M$5M$6.5M$6M$9.7M$31M

Goodwill

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Direct to Consumer$719M———$10B—

Goodwill, Impaired, Accumulated Impairment Loss

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Direct to Consumer$0———$0—

Goodwill, Impairment Loss

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Direct to Consumer—$0$0$0$0—

Gross Carrying Amount

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Direct to Consumer$719M———$10B—

Interest and amortization on non-funding debt

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Direct to Consumer—$16.3M$16.3M$16.3M$16.3M—
Partner Network—$0$0$0$0—

Interest Expense

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Direct to Consumer—$35M———$139M
Partner Network—$29M———$64M

Interest Income

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Direct to Consumer$56.8M$131M$64.3M$73.5M$111.9M$376M
Partner Network$46.3M$42M$59.2M$51.9M$47.2M$104M

Marketing and advertising expenses

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Direct to Consumer$160.1M$213M$226.8M$189.3M$161.3M$195M
Partner Network$1.8M$3M$2.5M$2.1M$2.3M$4M

Mortgage Servicing Rights (MSR), Change In Fair Value

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Direct to Consumer—$449M$198.9M$479.5M$402.4M$485M
Partner Network$0$0$0$0$0$0

Mortgage Servicing Rights (MSR), Loss (Gain) Due To Change In Fair Value Valuation Assumptions

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Direct to Consumer-$582M$259M-$20M$177.3M—-$119M
Partner Network$0$0$0$0$0$0

Other expenses

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Direct to Consumer$43.8M$35M$43M$53.6M$119M$64M
Partner Network$2.7M$2M$2.5M$2.8M$3.3M$1M

Other income

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Direct to Consumer$152M$51M$144M$166.7M$369.6M$95M
Partner Network$6.3M$5M$6.3M$6.7M$8.7M$9M

Revenues, Net of Interest Expense

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Direct to Consumer$1.5B$793M$1B$975.3M$2B$2.2B
Partner Network$135M$143M$148.2M$167.5M$238.6M$300M

Salaries, commissions and team member benefits

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Direct to Consumer$259.9M$284M$277.6M$344.3M$423.4M$396M
Partner Network$48.6M$47M$53.2M$60.6M$73.4M$56M

Servicing fee income

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Direct to Consumer$386M$400M$400M$410.8M$1.1B$1.1B
Partner Network$0$0$0$0$0$0