The Real Brokerage Inc. Announces Second Quarter 2025 Financial Results
“This quarter marks a pivotal moment for Real, as we proudly announce our first-ever quarter of positive net income,” said Tamir Poleg, Real’s Chairman and Chief Executive Officer. “This milestone is a testament to the scalability of our technology and the efficiency of our operating model. We continue to make progress across our ecosystem, including expanding the utility of Real Wallet for our agents, and the significant potential unlocked by our recent acquisition of Flyhomes' consumer home search portal. Our commitment to building a differentiated, high-value platform that attracts top talent and empowers real estate professionals positions us well for continued long-term growth and success.”
“While many in the industry are scaling back, Real continues to invest in our future and in the success of our agents,” said Jenna Rozenblat, Real’s Chief Operating Officer. “We’re deeply focused on enhancing every aspect of the agent experience. This includes the significant investments we are making in artificial intelligence (AI) to improve agent efficiency, as well as the forthcoming Revenue Share model enhancements, which are designed to reward both high producers and network builders, allowing them to earn even more as they achieve new milestones.”
“Real delivered standout financial performance in the second quarter, despite a challenging macro backdrop,” said Ravi Jani, Real’s Chief Financial Officer. “Our disciplined financial approach is clearly yielding results, and we remain focused on driving long-term shareholder value. Given our strong cash generation and confidence in our outlook, we expect to increase our pace of share repurchases in the second half of the year.”
Q2 2025 Operational Highlights1
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The total value of completed real estate transactions reached
$20.1 billion 60% from$12.6 billion -
The total number of transactions closed was 49,282 in the second quarter of 2025, an increase of
62% from 30,367 in the second quarter of 2024. -
The total number of agents on the platform increased to 28,034 at the end of the second quarter of 2025, an increase of
43% from the second quarter of 2024. As of August 5, 2025, approximately 29,200 agents are now on the Real platform.
Q2 2025 Financial Highlights
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Revenue rose to
$540.7 million 59% from$340.8 million -
Gross profit reached
$47.9 million 50% from$31.9 million -
Net income attributable to owners of the Company improved to
$1.5 million $(1.1) million -
Adjusted EBITDA2 was
$20.0 million $14.0 million -
Operating expenses, which include General & Administrative, Marketing, and Research and Development expenses, totaled
$46.2 million 42% increase from$32.5 million -
Revenue share expense, which is included in Marketing expenses, was
$17.6 million 41% increase compared to$12.5 million -
Adjusted operating expenses, which reflect operating expenses less revenue share expense, stock-based compensation, depreciation, and other unique or non-cash expenses, were
$22.6 million 53% from$14.7 million -
Adjusted operating expense per transaction was
$459 5% from$485
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Adjusted operating expense per transaction was
-
Basic and diluted earnings per share were
$0.01 $(0.01) -
Real generated
$41.0 million $2.7 million -
Real ended the quarter with
$54.8 million
Business Highlights and Recent Updates
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Real Wallet Update. The Real Wallet is a financial technology platform that centralizes an agent’s access to certain Company-branded financial products.
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Real Wallet currently includes:
-
Business checking accounts for eligible
U.S. agents with Thread Bank, Member FDIC, including a Company-branded debit card. - Credit lines for eligible Canadian agents, based on their earnings history with Real.
-
Business checking accounts for eligible
-
As of the end of July 2025:
- Over 3,600 Real agents are utilizing Real Wallet business checking accounts, with approximately 850 utilizing Real Wallet Tax Planning business checking accounts.
-
The average deposit balance held in all Real Wallet business checking and tax planning accounts was in excess of
$14M
-
Real Wallet currently includes:
Real Wallet represents a significant step in Real’s strategy to integrate fintech solutions into its platform, providing agents with greater financial flexibility.
-
Revenue Share Model Enhancements. Real announced several key changes to its Revenue Share program designed to reward agent productivity and strengthen long-term alignment. Beginning in August 2025:
- Agents who reach their annual commission cap will automatically unlock up to Tier 3 in the Revenue Share program through their next anniversary year.
- Elite Agents will unlock up to Tier 5 through their next anniversary year.
-
New network-size thresholds will also allow agents to unlock Revenue Share tiers based on the number of agents in their organization:
- Tier 3 unlocks at 750 agents
- Tier 4 unlocks at 1,000 agents
- Tier 5 unlocks at 1,500 agents
These changes aim to incentivize both production and attraction, further supporting Real’s mission to help agents grow income and build long-term wealth through its platform.
-
Acquisition of Flyhomes Consumer Home Search Portal. On July 1, 2025, Real announced its acquisition of Flyhomes’ AI-powered consumer home search portal and related technology assets, representing a major step toward delivering an end-to-end, AI-driven home buying experience. In connection with the transaction:
- The Flyhomes platform, featuring deep MLS integrations, real-time market insights, and a user-friendly interface, will be integrated into Real’s anticipated consumer-facing product, Leo for Clients. The acquisition also brings a team of experienced engineers with deep real estate and AI expertise to Real’s R&D organization.
- One Real Mortgage, the mortgage broker subsidiary of Real, will offer Flyhomes’ “Buy Before You Sell” financing solution.
- Real made a minority equity investment in Flyhomes to support its strategic shift toward becoming a wholesale mortgage lender.
- The transaction was funded with existing cash on hand and is not expected to have a material impact on Real’s financial results.
1All dollar references are in |
2There are references to “Adjusted EBITDA” and “Adjusted Operating Expense” in this press release, which are non-GAAP measures. See accompanying note under the heading “Non-GAAP Measures” for an explanation of the composition of these non-GAAP measures. |
The Company will discuss the second quarter results on a conference call and live webcast today at 8:00 a.m. ET.
Conference Call Details: |
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Date: |
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Thursday, August 7, 2025 |
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Time: |
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8:00 am ET |
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Dial-in Number: |
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North American Toll Free: 888-506-0062 | ||
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International: 973-528-0011 |
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Access Code: |
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969780 |
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Webcast: |
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https://www.webcaster4.com/Webcast/Page/2699/52691 | ||
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Replay Information: |
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Replay Number: |
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North American Toll Free: 877-481-4010 |
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International: 919-882-2331 |
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Access Code: |
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52691 |
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Replay Link: |
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https://www.webcaster4.com/Webcast/Page/2699/52691 | ||
Non-GAAP Measures
This news release includes references to “Adjusted EBITDA”, and “Adjusted Operating Expense”, which are non-
Adjusted EBITDA is used as an alternative to net income by removing major non-cash items, such as depreciation, amortization, interest, stock-based compensation, current and deferred income tax expenses and other items management considers unique and/or non-operating in nature.
Adjusted Operating Expense is used as an alternative to operating expenses by removing major non-cash items such as stock-based compensation, depreciation, and other unique or non-cash expenses, while retaining ongoing fixed operating expenses and excluding variable cash expenses associated with revenue share.
Adjusted EBITDA and Adjusted Operating Expense have no direct comparable GAAP financial measures. The Company has used or included these non-GAAP measures solely to provide investors with added insight into Real’s financial performance. Readers are cautioned that such non-GAAP measures may not be appropriate for any other purpose. Non-GAAP measures should not be considered in isolation or as a substitute for measures of performance prepared in accordance with GAAP. Our Adjusted EBITDA is reconciled to the most comparable GAAP measure for the three and six months ended June 30, 2025 and 2024 and is presented in the table below labeled Reconciliation of Net Loss to Adjusted EBITDA. Our Adjusted Operating Expense reconciled to the most comparable GAAP measure is presented for the three and six months ended June 30, 2025 and on a quarterly basis for the prior two fiscal years in the table below labeled Reconciliation of Operating Expense to Adjusted Operating Expense.
THE REAL BROKERAGE INC. INTERIM CONDENSED CONSOLIDATED BALANCE SHEETS
(Expressed in thousands of Unaudited |
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As of |
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June 30, 2025 |
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December 31, 2024 |
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ASSETS |
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CURRENT ASSETS |
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|
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Cash and cash equivalents |
$ |
49,614 |
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|
$ |
23,376 |
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Restricted cash |
|
46,302 |
|
|
|
24,089 |
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Investments in financial assets |
|
5,158 |
|
|
|
9,449 |
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Trade receivables |
|
26,821 |
|
|
|
14,235 |
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Other receivables |
|
51 |
|
|
|
117 |
|
Short-term financing receivables, net |
|
72 |
|
|
|
- |
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Prepaid expenses and deposits |
|
1,572 |
|
|
|
1,645 |
|
TOTAL CURRENT ASSETS |
$ |
129,590 |
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$ |
72,911 |
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NON-CURRENT ASSETS |
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Intangible assets, net |
|
2,130 |
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2,575 |
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Goodwill |
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8,993 |
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8,993 |
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Property and equipment, net |
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2,324 |
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2,116 |
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Investment in equity securities |
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2,250 |
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|
|
- |
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Long-term financing receivables, net |
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4,146 |
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|
|
- |
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TOTAL NON-CURRENT ASSETS |
$ |
19,843 |
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$ |
13,684 |
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TOTAL ASSETS |
$ |
149,433 |
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$ |
86,595 |
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LIABILITIES AND EQUITY |
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CURRENT LIABILITIES |
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Accounts payable |
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1,251 |
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1,374 |
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Accrued liabilities |
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48,068 |
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25,939 |
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Customer deposits |
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46,302 |
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24,089 |
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Other payables |
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4,843 |
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|
|
3,050 |
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TOTAL CURRENT LIABILITIES |
$ |
100,464 |
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$ |
54,452 |
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TOTAL LIABILITIES |
$ |
100,464 |
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$ |
54,452 |
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EQUITY |
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EQUITY ATTRIBUTABLE TO OWNERS |
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Common Shares, no par value, unlimited Common Shares authorized, 208,613 Shares issued and 208,121 outstanding at June 30, 2025; and 202,941 Shares issued and 202,499 outstanding at December 31, 2024 |
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- |
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- |
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Additional paid-in capital |
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158,827 |
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138,639 |
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Accumulated deficit |
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(108,201 |
) |
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(104,746 |
) |
Accumulated other comprehensive income |
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582 |
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708 |
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Treasury shares, at cost, 492 and 442 Common Shares at June 30, 2025 and December 31, 2024, respectively |
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(2,021 |
) |
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(2,455 |
) |
EQUITY ATTRIBUTABLE TO OWNERS |
$ |
49,187 |
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$ |
32,146 |
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Non-controlling interests |
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(218 |
) |
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(3 |
) |
TOTAL EQUITY |
$ |
48,969 |
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$ |
32,143 |
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TOTAL LIABILITIES AND EQUITY |
$ |
149,433 |
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$ |
86,595 |
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THE REAL BROKERAGE INC. INTERIM CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
(Expressed in thousands of Unaudited |
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Three Months Ended June 30, |
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Six Months Ended June 30, |
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2025 |
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2024 |
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2025 |
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2024 |
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Revenues |
$ |
540,747 |
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$ |
340,778 |
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$ |
894,728 |
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$ |
541,521 |
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Cost of Sales |
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492,886 |
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308,910 |
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812,931 |
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488,894 |
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Gross Profit |
$ |
47,861 |
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$ |
31,868 |
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81,797 |
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52,627 |
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General and administrative expenses |
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18,900 |
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14,015 |
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36,416 |
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26,151 |
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Marketing expenses |
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23,284 |
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|
15,889 |
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40,981 |
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28,518 |
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Research and development expenses |
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3,993 |
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2,608 |
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7,925 |
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5,070 |
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Settlement of litigation |
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— |
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— |
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— |
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9,250 |
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Operating Expenses |
$ |
46,177 |
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$ |
32,512 |
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85,322 |
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|
68,989 |
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Operating Income (Loss) |
$ |
1,684 |
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$ |
(644 |
) |
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(3,525 |
) |
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(16,362 |
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Other income, net |
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166 |
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57 |
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288 |
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230 |
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Finance expenses, net |
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(300 |
) |
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(523 |
) |
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(334 |
) |
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(1,075 |
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Net Income (Loss) |
$ |
1,550 |
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$ |
(1,110 |
) |
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(3,571 |
) |
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(17,207 |
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Net income (loss) attributable to non-controlling interests |
|
38 |
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|
105 |
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(116 |
) |
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|
105 |
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Net Income (Loss) Attributable to the Owners of the Company |
$ |
1,512 |
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$ |
(1,215 |
) |
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|
(3,455 |
) |
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(17,312 |
) |
Other comprehensive income/(loss), Items that will be reclassified subsequently to profit or loss: |
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Unrealized gain (loss) on investments in financial assets |
|
(9 |
) |
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|
51 |
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3 |
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|
94 |
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Foreign currency translation adjustment |
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(8 |
) |
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|
376 |
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|
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(129 |
) |
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|
495 |
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Total Comprehensive Income (Loss) Attributable to Owners of the Company |
$ |
1,495 |
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|
$ |
(788 |
) |
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(3,581 |
) |
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|
(16,723 |
) |
Total Comprehensive Income (Loss) Attributable to Non-Controlling Interest |
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38 |
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|
105 |
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(116 |
) |
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|
105 |
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Total Comprehensive Income (Loss) |
$ |
1,533 |
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$ |
(683 |
) |
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(3,697 |
) |
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(16,618 |
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Earnings (Loss) per share |
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Basic earnings (loss) per share |
$ |
0.01 |
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$ |
(0.01 |
) |
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(0.02 |
) |
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|
(0.09 |
) |
Diluted earnings (loss) per share |
$ |
0.01 |
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$ |
(0.01 |
) |
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$ |
(0.02 |
) |
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$ |
(0.09 |
) |
Weighted-average shares, basic |
|
214,787 |
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|
189,046 |
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|
213,738 |
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|
186,568 |
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Weighted-average shares, diluted |
|
233,366 |
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|
189,046 |
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|
213,738 |
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|
186,568 |
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THE REAL BROKERAGE INC. INTERIM CONSOLIDATED STATEMENT OF CASH FLOWS
( Unaudited |
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Three Months Ended June 30, |
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Six Months Ended June 30, |
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2025 |
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2024 |
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2025 |
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2024 |
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OPERATING ACTIVITIES |
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Net Income (Loss) |
$ |
1,550 |
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|
$ |
(1,110 |
) |
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$ |
(3,571 |
) |
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$ |
(17,207 |
) |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: |
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Depreciation and amortization |
|
398 |
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340 |
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|
777 |
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|
666 |
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Equity-settled stock-based payment |
|
17,795 |
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|
13,536 |
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|
|
30,502 |
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|
|
22,380 |
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Finance costs |
|
62 |
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|
|
71 |
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|
|
(87 |
) |
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|
200 |
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Change in fair value of warrants liability |
|
- |
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|
200 |
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|
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- |
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|
|
471 |
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Changes in operating assets and liabilities: |
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|
|
|
|
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Funds held in restricted escrow account |
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- |
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|
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(9,250 |
) |
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|
- |
|
|
|
(9,250 |
) |
Trade receivables |
|
(10,031 |
) |
|
|
(9,096 |
) |
|
|
(12,586 |
) |
|
|
(12,190 |
) |
Other receivables |
|
3 |
|
|
|
34 |
|
|
|
66 |
|
|
|
7 |
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Short-term and long-term financing receivables, net |
|
(1,249 |
) |
|
|
- |
|
|
|
(4,218 |
) |
|
|
- |
|
Prepaid expenses and deposits |
|
(39 |
) |
|
|
(319 |
) |
|
|
73 |
|
|
|
591 |
|
Accounts payable |
|
324 |
|
|
|
103 |
|
|
|
(123 |
) |
|
|
625 |
|
Accrued liabilities |
|
14,496 |
|
|
|
12,415 |
|
|
|
22,129 |
|
|
|
20,255 |
|
Customer deposits |
|
16,043 |
|
|
|
8,684 |
|
|
|
22,213 |
|
|
|
20,176 |
|
Other payables |
|
1,666 |
|
|
|
362 |
|
|
|
1,793 |
|
|
|
10,726 |
|
NET CASH PROVIDED BY OPERATING ACTIVITIES |
$ |
41,018 |
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|
$ |
15,970 |
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$ |
56,968 |
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$ |
37,450 |
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INVESTING ACTIVITIES |
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Purchase of property and equipment |
|
(255 |
) |
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|
(501 |
) |
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|
(540 |
) |
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|
(597 |
) |
Purchase of investment in equity securities |
|
(2,250 |
) |
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|
- |
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|
|
(2,250 |
) |
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|
- |
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Purchase of financial assets |
|
(109 |
) |
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|
(1,542 |
) |
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|
(1,459 |
) |
|
|
(1,713 |
) |
Proceeds from sale of financial assets |
|
5,496 |
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|
|
5,730 |
|
|
|
5,753 |
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|
|
5,752 |
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NET CASH PROVIDED BY INVESTING ACTIVITIES |
$ |
2,882 |
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$ |
3,687 |
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|
$ |
1,504 |
|
|
$ |
3,442 |
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FINANCING ACTIVITIES |
|
|
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|
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Purchase of common shares for Restricted Share Unit (RSU) Plan |
|
(2,708 |
) |
|
|
(10,603 |
) |
|
|
(8,830 |
) |
|
|
(15,226 |
) |
Payment of employee taxes on certain share-based arrangements |
|
(498 |
) |
|
|
(420 |
) |
|
|
(1,711 |
) |
|
|
(741 |
) |
Proceeds from exercise of stock options |
|
351 |
|
|
|
3,010 |
|
|
|
661 |
|
|
|
3,623 |
|
Distributions to non-controlling interest |
|
(23 |
) |
|
|
(14 |
) |
|
|
(99 |
) |
|
|
(52 |
) |
NET CASH USED IN FINANCING ACTIVITIES |
$ |
(2,878 |
) |
|
$ |
(8,027 |
) |
|
$ |
(9,979 |
) |
|
$ |
(12,396 |
) |
|
|
|
|
|
|
|
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Net change in cash, cash equivalents and restricted cash |
|
41,022 |
|
|
|
11,630 |
|
|
|
48,493 |
|
|
|
28,496 |
|
Cash, cash equivalents and restricted cash, beginning of period |
|
54,965 |
|
|
|
44,512 |
|
|
|
47,465 |
|
|
|
27,655 |
|
Effect of foreign exchange rate changes on cash, cash equivalents, and restricted cash |
|
(71 |
) |
|
|
298 |
|
|
|
(42 |
) |
|
|
289 |
|
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, ENDING BALANCE |
$ |
95,916 |
|
|
$ |
56,440 |
|
|
$ |
95,916 |
|
|
$ |
56,440 |
|
|
|
|
|
|
|
|
|
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SUPPLEMENTAL DISCLOSURE OF NON-CASH ACTIVITIES |
|
|
|
|
|
|
|
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Warrants exercised |
|
- |
|
|
|
377 |
|
|
|
- |
|
|
|
377 |
|
THE REAL BROKERAGE INC. RECONCILIATION OF NET LOSS TO ADJUSTED EBITDA
(Expressed in thousands of Unaudited |
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For the Three Months Ended |
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For the Six Months Ended |
|||||||||||
|
June 30, 2025 |
|
June 30, 2024 |
|
June 30, 2025 |
|
June 30, 2024 |
|||||||
Net Income (Loss) |
$ |
1,550 |
|
$ |
(1,110 |
) |
|
$ |
(3,571 |
) |
|
$ |
(17,207 |
) |
Add/(Deduct): |
|
|
|
|
|
|
|
|||||||
Finance expenses, net |
|
300 |
|
|
899 |
|
|
|
334 |
|
|
|
1,570 |
|
Depreciation and Amortization |
|
398 |
|
|
340 |
|
|
|
777 |
|
|
|
666 |
|
Stock-Based Compensation |
|
17,795 |
|
|
13,536 |
|
|
|
30,502 |
|
|
|
22,380 |
|
Restructuring Expenses |
|
- |
|
|
- |
|
|
|
250 |
|
|
|
- |
|
Expenses related to Anti-Trust Litigation Settlement |
|
- |
|
|
369 |
|
|
|
27 |
|
|
|
10,226 |
|
Adjusted EBITDA |
$ |
20,043 |
|
$ |
14,034 |
|
|
$ |
28,319 |
|
|
$ |
17,635 |
|
THE REAL BROKERAGE INC. BREAKOUT OF REVENUE BY SEGMENT
(Expressed in thousands of Unaudited |
|||||||||
|
For the Three Months Ended |
|
For the Six Months Ended |
||||||
|
June 30, 2025 |
|
June 30, 2024 |
|
June 30, 2025 |
|
June 30, 2024 |
||
Main revenue streams |
|
|
|
|
|
|
|
||
Commissions |
|
537,445 |
|
|
338,574 |
|
889,194 |
|
537,826 |
Title |
|
1,346 |
|
|
1,255 |
|
2,376 |
|
2,050 |
Mortgage Income |
|
1,709 |
|
|
949 |
|
2,785 |
|
1,645 |
Wallet |
|
247 |
|
|
— |
|
373 |
|
— |
Total Revenue |
$ |
540,747 |
|
$ |
340,778 |
|
894,728 |
|
541,521 |
THE REAL BROKERAGE INC. RECONCILIATION OF OPERATING EXPENSE TO ADJUSTED OPERATING EXPENSE BY QUARTER
(Expressed in thousands of Unaudited |
||||||||||||||||||||
|
2023 |
|
2024 |
|
2025 |
|||||||||||||||
|
Q2 |
Q3 |
Q4 |
|
Q1 |
Q2 |
Q3 |
Q4 |
|
Q1 |
Q2 |
|||||||||
Operating Expense |
21,499 |
|
22,742 |
|
26,796 |
|
|
36,477 |
|
32,512 |
|
34,607 |
|
36,371 |
|
|
39,145 |
|
46,177 |
|
Less: Revenue Share Expense |
7,684 |
|
7,946 |
|
6,840 |
|
|
9,064 |
|
12,475 |
|
11,651 |
|
9,537 |
|
|
12,504 |
|
17,644 |
|
Revenue Share Expense (% of revenue) |
4.1 |
% |
3.7 |
% |
3.8 |
% |
|
4.5 |
% |
3.7 |
% |
3.3 |
% |
2.7 |
% |
|
3.5 |
% |
3.3 |
% |
Less: |
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Stock-Based Compensation - Employees |
1,214 |
|
285 |
|
6,543 |
|
|
1,493 |
|
2,265 |
|
3,139 |
|
3,405 |
|
|
1,651 |
|
2,056 |
|
Stock-Based Compensation - Agent |
1,640 |
|
2,769 |
|
1,830 |
|
|
2,137 |
|
2,335 |
|
2,665 |
|
2,940 |
|
|
3,115 |
|
3,478 |
|
Depreciation and Amortization Expense |
284 |
|
277 |
|
298 |
|
|
326 |
|
340 |
|
358 |
|
372 |
|
|
379 |
|
398 |
|
Restructuring Expense |
44 |
|
80 |
|
58 |
|
|
— |
|
— |
|
— |
|
— |
|
|
250 |
|
— |
|
Expenses Related to Anti-Trust Litigation Settlement |
— |
|
— |
|
— |
|
|
9,857 |
|
369 |
|
33 |
|
118 |
|
|
27 |
|
— |
|
Subtotal |
3,182 |
|
3,411 |
|
8,729 |
|
|
13,813 |
|
5,309 |
|
6,195 |
|
6,835 |
|
|
5,422 |
|
5,932 |
|
Adjusted Operating Expense1 |
10,633 |
|
11,385 |
|
11,227 |
|
|
13,600 |
|
14,728 |
|
16,761 |
|
19,998 |
|
|
21,219 |
|
22,601 |
|
Adjusted Operating Expense (% of revenue) |
5.7 |
% |
5.3 |
% |
6.2 |
% |
|
6.8 |
% |
4.3 |
% |
4.5 |
% |
5.7 |
% |
|
6.0 |
% |
4.2 |
% |
1Adjusted operating expense excludes revenue share, stock-based compensation, depreciation and other non-recurring or non-cash expenses. |
||||||||||||||||||||
THE REAL BROKERAGE INC. KEY PERFORMANCE METRICS BY QUARTER
(Dollar amounts expressed in Unaudited |
|||||||||||
|
2023 |
2024 |
2025 |
||||||||
|
Q2 |
Q3 |
Q4 |
|
Q1 |
Q2 |
Q3 |
Q4 |
|
Q1 |
Q2 |
Transaction Data |
|
|
|
|
|
|
|
|
|
|
|
Closed Transaction Sides |
17,537 |
20,397 |
17,749 |
|
19,032 |
30,367 |
35,832 |
35,370 |
|
33,617 |
49,282 |
Total Value of Home Side Transactions ($, billions) |
7.0 |
8.1 |
6.8 |
|
7.5 |
12.6 |
14.4 |
14.6 |
|
13.5 |
20.1 |
Median Home Sales Price ($, thousands) |
|
|
|
|
|
|
|
|
|
|
|
Agent Metrics |
|
|
|
|
|
|
|
|
|
|
|
Total Agents |
11,500 |
12,175 |
13,650 |
|
16,680 |
19,540 |
21,770 |
24,140 |
|
26,870 |
28,034 |
Agent Churn Rate (%) |
6.5 |
10.8 |
6.2 |
|
7.9 |
7.5 |
7.3 |
6.8 |
|
8.7 |
9.4 |
Revenue Churn Rate (%) |
3.8 |
4.5 |
4.9 |
|
1.9 |
1.6 |
2.0 |
1.8 |
|
2.5 |
1.9 |
Headcount and Efficiency Metrics |
|
|
|
|
|
|
|
|
|
|
|
Full-Time Employees |
145 |
162 |
159 |
|
151 |
231 |
240 |
264 |
|
410 |
429 |
Full-Time Employees, Excluding One Real Title and One Real Mortgage |
102 |
120 |
118 |
|
117 |
142 |
155 |
178 |
|
307 |
324 |
Headcount Efficiency Ratio1 |
1:113 |
1:101 |
1:116 |
|
1:143 |
1:138 |
1:140 |
1:136 |
|
1:88 |
1:87 |
Revenue Per Full Time Employee ($, thousands)2 |
|
|
|
|
|
|
|
|
|
|
|
Operating Expense Excluding Revenue Share ($, thousands)3 |
|
|
|
|
|
|
|
|
|
|
|
Operating Expense Per Transaction Excluding Revenue Share ($)4 |
|
|
|
|
|
|
|
|
|
|
|
Adjusted Operating Expense ($, thousands)5 |
|
|
|
|
|
|
|
|
|
|
|
Adjusted Operating Expense Per Transaction ($) |
|
|
|
|
|
|
|
|
|
|
|
1Defined as the ratio of full-time brokerage employees (excluding One Real Title and One Real Mortgage employees) to the number of agents on our platform |
|||||||||||
2Reflects total company revenue divided by full-time brokerage employees (excludes One Real Title and One Real Mortgage employees) |
|||||||||||
3Defined as total operating expenses per the Company’s statement of comprehensive loss, less revenue share disclosed in the Company’s expense by nature footnote disclosure in the Financial Statements |
|||||||||||
4Defined as operating expense excluding revenue share, divided by closed transaction sides |
|||||||||||
5Adjusted operating expense excludes revenue share, stock-based compensation, depreciation and other non-recurring or non-cash expenses. |
|||||||||||
Forward-Looking Information
This press release contains forward-looking information within the meaning of applicable Canadian and
Forward-looking information is based on assumptions that may prove to be incorrect, including but not limited to Real’s business objectives, expected growth, results of operations, performance, business projects and opportunities and financial results. Real considers these assumptions to be reasonable in the circumstances. However, forward-looking information is subject to known and unknown risks, uncertainties and other factors that could cause actual results, performance or achievements to differ materially from those expressed or implied in the forward-looking information. Important factors that could cause such differences include, but are not limited to, slowdowns in real estate markets, economic and industry downturns, Real’s ability to attract new agents and retain current agents, Real’s inability to successfully launch new products and features, including Real Wallet and Leo for Clients and those risk factors discussed under the heading “Risk Factors” in the Company’s Annual Information Form dated March 6, 2025, and “Risks and Uncertainties” in the Company’s Quarterly Management’s Discussion and Analysis for the period ended June 30, 2025, copies of which are available under the Company’s SEDAR+ profile at www.sedarplus.ca.
These factors should be carefully considered and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this press release are based upon what management believes to be reasonable assumptions, Real cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this press release, and Real assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.
About Real
Real (NASDAQ: REAX) is a real estate experience company working to make life’s most complex transaction simple. The fast-growing company combines essential real estate, mortgage and closing services with powerful technology to deliver a single seamless end-to-end consumer experience, guided by trusted agents. With a presence in all 50 states throughout the
The Real Brokerage is a real estate technology company and is not a bank. Banking services are provided by Thread Bank, Member FDIC. The Real Wallet Visa debit card is issued by Thread Bank, Member FDIC, pursuant to a license from Visa
View source version on businesswire.com: https://www.businesswire.com/news/home/20250807196482/en/
For additional information, please contact:
Loren Irwin
Director, Investor Relations and Financial Reporting
investors@therealbrokerage.com
908.280.2515
For media inquiries, please contact:
Elisabeth Warrick
Senior Director, Marketing, Communications & Brand
elisabeth@therealbrokerage.com
201.564.4221
Source: The Real Brokerage Inc.
