Almost four minutes in length, "Born Again" features production by Andrew Wells and Raye herself. A demo version of the song by Raye previously leaked when she left her former label Polydor Records in 2021. It has been described a "disco-tinged", "dynamic and energetic pop song" that "folds in bits of electro-pop." Lisa and Raye alternate singing during the first verse and chorus, after which Doja drops a verse. Lyrically, it is a breakup empowerment song in which the three artists each detail what their ex-lover lost by giving up on their relationship. They taunt their former partners by boasting about their glow-ups since their relationships’ dissolutions. In the first verse, Lisa sings about breaking up “with my man like mm-hmm (A very, very silly, silly man) / One ex in the passenger seat ’cause I'm done." The track leans into religious themes to describe a feeling of post-breakup clarity and empowerment. In the chorus, they mock their exes for fumbling a divine experience: "If you tried just a little more times / I would've made you a believer / Would’ve showed you what it's like / Every single night / To be born again, baby, to be born again." Doja Cat continues to taunt her ex in her half-sung/half-rapped verse, stating "I hope you learned somethin’ from a lil’ fiasco / You played the game smart, lettin’ lil’ me pass go." While Lisa's verse uses the metaphor of speeding away from a failed relationship, Doja Cat and Raye's verses heavily incorporate religious iconography. Doja Cat references the apple in the Garden of Eden in the lines "Non-believer / You’ve bitten from the fruit but can't give back / Nice to leave ya / But I would be a fool not to ask / Do your words seem gospel to ya now?" For her bridge, Raye brings up prayer and says "I'm only gonna make you need religion at the minimum", coming to the conclusion that she had to end a relationship to "save my soul."

An accompanying music video for "Born Again" was uploaded to Lloud's YouTube channel simultaneously with the single's release. It was directed by Bardia Zeinali and divided into four parts. On Instagram, Lisa shared that "This video is a tribute to powerful women throughout history and to all of you." It begins with a shot of a grandfather clock ticking backwards, followed by a display of text defining the song’s title as "the transformation into a New Woman who embraces her freedom to become the person she desires to be." Lisa, Doja, and Raye are then introduced perched on an ornate gold sofa set in a black-and-white room, wearing glamorous all-black outfits. They sing lyrics as they lounge together in the living room space of a sleek mansion. Initially dressed in black mourning gowns, the trio shed their past selves and emerge in ethereal white dresses accented with pieces of silver armor.

Credits adapted from Melon and Apple Music.
• Lisa – vocals
• Raye – vocals, lyrics, composition, production
• Doja Cat – vocals, lyrics, composition
• Andrew Wells – lyrics, composition, production, guitar, bass, synthesizer, piano, programming, clarinet
• Anthony Rossomando – lyrics, composition
• Victor Le Masne – strings
• Demian Arriaga – percussion
• Eli Gross – piano
• Cassidy Turbin – drums
• Matt Kirkwood – bass
• James Burkholder – strings
• Serban Ghenea – mixing
• Randy Merrill – mastering
• Bryce Bordone – mixing assistance
• Jelli Dorman – vocal engineering
• Fermin Suero Jr. – vocal engineering
• Alex Robinson – vocal engineering
• Kuk Harrell – vocal production
• Jon Yeston – engineering
• Quentin Andrianasitera – engineering assistance