Production volume of $7.99 billion rose 4% sequentially and 19% annually, while unit volume jumped 25% from the first quarter. "In the second quarter, revenue increased, operating leverage improved, and our net loss narrowed substantially even as interest rates rose meaningfully beginning in March. Revenue rose 18% to $337.3 million, but adjusted revenue, which strips out servicing valuation swings, gained 3% to $307.6 million. Compared to a year ago, adjusted net loss widened to $29.2 million and adjusted EBITDA fell to $20.5 million from $25.6 million. In July, Randlan Capital, a self-described activist holding more than 250,000 shares, urged the board to explore a sale , and reconsider Hsieh's leadership, arguing the servicing servicing portfolio could fetch a premium from a strategic buyer, citing Rocket's acquisition of Mr. Cooper as evidence of appetite.