MIAMI--(BUSINESS WIRE)--The Real Brokerage Inc. (NASDAQ: REAX) (“Real” or the “Company”), a leading real estate technology platform redefining the industry through innovation and culture, announced today financial results for the first quarter ended March 31, 2026.
“Real delivered another quarter of significant growth, with revenue increasing 32% year-over-year, demonstrating the continued strength of our platform and agent value proposition,” said Tamir Poleg, Chairman and Chief Executive Officer. "The agreement to acquire RE/MAX Holdings Inc. (“REMAX”) represents a defining moment in our history and in our industry - by combining Real's technology-driven brokerage with one of the industry’s most iconic and trusted brands we will create the preeminent real estate platform of the future.”
“Q1 tells a compelling story about the breadth of what we are building - both agent count and transaction count increased 25%, while all three ancillary businesses each posted strong revenue growth, validating that agents and their clients are adopting the full Real ecosystem,” said Jenna Rozenblat, Chief Operating Officer. “The platform is working, and the combination with REMAX provides a step-change in the scale through which we can deliver it.”
”Revenue and gross profit each grew faster than operating expenses, driving a meaningful improvement in net loss year-over-year and an 80% increase in Adjusted EBITDA to $14.9 million, a strong result in what is historically our seasonally lowest revenue quarter,” said Ravi Jani, Chief Financial Officer. “We ended the quarter with $62.9 million in unrestricted cash and no debt, and entered the spring selling season with solid momentum. We remain confident the REMAX transaction will create compelling value for our agents, franchisees, consumers, and shareholders.”
Q1 2026 Financial Highlights1
- Revenue rose to $465.6 million in the first quarter of 2026, an increase of 32% from $354.0 million in the first quarter of 2025.
- Gross profit reached $42.2 million in the first quarter of 2026, an increase of 24% from $33.9 million in the first quarter of 2025.
- Operating expenses totaled $45.6 million in the first quarter of 2026, a 17% increase from $39.1 million in the first quarter of 2025.
- Net loss attributable to owners of the Company improved to $(3.4) million in the first quarter of 2026, compared to $(5.0) million in the first quarter of 2025.
- Basic and diluted loss per share was $(0.02) in the first quarter of 2026, consistent with $(0.02) in the first quarter of 2025.
- Adjusted EBITDA2 was $14.9 million in the first quarter of 2026, compared to $8.3 million in the first quarter of 2025.
- Revenue share expense, which is included in Marketing expenses, totaled $15.7 million in the first quarter of 2026, a 25% increase compared to $12.5 million in the first quarter of 2025.
- Adjusted operating expenses, which reflect operating expenses less revenue share expense, stock-based compensation, depreciation, and other unique or non-cash expenses, were $21.3 million in the first quarter of 2026, compared to $21.2 million in the first quarter of 2025.
- Adjusted operating expense per transaction was $508 in the first quarter of 2026, a decline of 19% from $631 in the first quarter of 2025.
- Cash provided by operating activities totaled $23.3 million during the first quarter of 2026.
- The Company ended the first quarter of 2026 with $62.9 million of unrestricted cash and equivalents and short-term investments on its balance sheet and no debt.
1All dollar references are in U.S. dollars. |
2There are references to “Adjusted EBITDA” and “Adjusted Operating Expense” in this press release, which are non-GAAP measures. Real’s method for calculating non-GAAP measures may differ from other reporting issuers’ methods and accordingly may not be comparable. See accompanying note under the heading “Non-GAAP Measures and Ratios” for an explanation of the composition of these non-GAAP measures. |
Q1 2026 Business and Operational Highlights
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North American Brokerage
- North American Brokerage revenue rose to $462.6 million in the first quarter of 2026, an increase of 32% from $351.7 million in the first quarter of 2025.
- The total number of agents increased to 33,510 at the end of the first quarter of 2026, a 25% increase from the first quarter of 2025.
- The total number of transactions closed was 41,882 in the first quarter of 2026, an increase of 25% from 33,617 in the first quarter of 2025.
- The total value of completed real estate transactions reached $16.8 billion in the first quarter of 2026, an increase of 24% from $13.5 billion in the first quarter of 2025.
- As of May 6, 2026, over 33,900 agents are now on the Real platform.
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One Real Title
- One Real Title revenue was $1.3 million in the first quarter of 2026, a 22% increase compared to $1.0 million in the first quarter of 2025.
- Title results reflect the ongoing transition from legacy team-based joint ventures to state-based joint ventures.
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One Real Mortgage
- One Real Mortgage revenue reached $1.3 million in the first quarter of 2026, a 20% increase compared to $1.1 million in the first quarter of 2025.
- As of May 2026, One Real Mortgage had 134 mortgage loan officers, including 99 affiliated with the Real Originate program.
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Real Wallet
- Real Wallet revenue totaled $436 thousand in the first quarter of 2026, a 246% increase compared to $126 thousand in the first quarter of 2025.
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As of May 2026:
- More than 8,000 Real agents were utilizing Real Wallet Business Checking Accounts, including over 1,500 Real Wallet Tax Planning Business Checking Accounts.
- The total deposit balance held in all Real Wallet Business Checking and Tax Planning accounts was approximately $25.3 million.
- The total balance of credit outstanding was $9.3 million.
- Real Wallet is a financial technology platform that centralizes an agent’s access to certain Company-branded financial products. Real Wallet currently includes: (i) Business Checking Accounts for eligible U.S. agents with Thread Bank, Member FDIC, including a Company-branded debit card; and (ii) credit lines for eligible agents in certain U.S. states and Canadian provinces, based on their earnings history with Real.
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Corporate Update
- On April 26, 2026, the Company entered into a definitive agreement to acquire RE/MAX Holdings, Inc., the parent company of RE/MAX, LLC. Under the terms of the agreement, which has been approved by the boards of directors of both companies, the parties will form a new holding company called Real REMAX Group.
- On March 9, 2026, the Company announced the appointment of Jason Cassity as Chief Growth Officer. Jason previously spent 13 years as a top-producing Realtor and team leader in San Diego, and has also served as a Growth Ambassador for the Company.
The Company will discuss the first quarter results on a conference call and live webcast today at 8:00 a.m. ET.
Conference Call Details: | |||||
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| Thursday, May 7, 2026 | |||
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Time: |
| 8:00 am ET | |||
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Dial-in Number: |
| North American Toll Free: 888-506-0062 | |||
International: 973-528-0011 | |||||
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Access Code: |
| 688428 | |||
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Webcast: |
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Replay Information: | |||||
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Replay Number: |
| North American Toll Free: 877-481-4010 | |||
International: 919-882-2331 | |||||
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Access Code: |
| 53761 | |||
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Replay Link: |
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Non-GAAP Measures and Ratios
This news release includes references to “Adjusted EBITDA”, “Adjusted Operating Expense”, and “Operating Expense Excluding Revenue Share”, which are non-U.S. generally accepted accounting principles (“GAAP”) financial measures. Non-GAAP measures, including non-GAAP ratios, are not recognized measures under GAAP, do not have a standardized meaning prescribed by GAAP, and are therefore unlikely to be comparable to similar measures presented by other companies.
Adjusted EBITDA is a supplemental non-GAAP financial measure that management uses to evaluate operating performance. Adjusted EBITDA is calculated as net income/(loss) before finance expenses, income tax expense, depreciation and amortization, intangible asset impairment expense, stock-based compensation, restructuring expenses, acquisition costs and expenses related to litigation settlements.
Operating Expense Excluding Revenue Share is used as an alternative to operating expenses by removing variable cash expenses associated with revenue share expenses, which is a component of marketing expenses.
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, Adjusted Operating Expense and Operating Expense Excluding Revenue Share 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 months ended March 31, 2026 and 2025 and is presented in the table below labeled Reconciliation of Net Loss to Adjusted EBITDA. Our Adjusted Operating Expense and Operating Expense Excluding Revenue Share reconciled to the most comparable GAAP measure is presented for the three months ended March 31, 2026 and on a quarterly basis for the prior two fiscal years in the table below labeled Reconciliation of Operating Expense to Adjusted Operating Expense by Quarter.
This press release also includes non-GAAP financial measure ratios, which are financial measures disclosed in the form of a ratio, fraction, percentage, or similar representation and that has a non-GAAP financial measure as one or more of its components.
Operating Expense Excluding Revenue Share per Transaction is a ratio calculated as Operating Expense Excluding Revenue Share, divided by the number of closed transaction sides. Adjusted Operating Expense per Transaction is a ratio calculated as Adjusted Operating Expense, divided by the number of closed transaction sides.
THE REAL BROKERAGE INC. | |||||||
INTERIM CONDENSED CONSOLIDATED BALANCE SHEETS | |||||||
(U.S. dollars and shares in thousands) | |||||||
Unaudited | |||||||
| As of | ||||||
| March 31, 2026 |
| December 31, 2025 | ||||
ASSETS |
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CURRENT ASSETS |
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Cash and cash equivalents | $ | 46,016 |
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| $ | 33,213 |
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Restricted cash |
| 36,805 |
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| 26,338 |
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Investments in financial assets |
| 16,904 |
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| 16,731 |
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Trade receivables |
| 25,185 |
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| 20,170 |
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Short-term financing receivables, net |
| 9,008 |
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| 6,231 |
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Other current assets |
| 2,786 |
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| 3,081 |
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TOTAL CURRENT ASSETS | $ | 136,704 |
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| $ | 105,764 |
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Intangible assets, net |
| 3,812 |
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| 4,157 |
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Goodwill |
| 8,993 |
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| 8,993 |
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Property and equipment, net |
| 2,451 |
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| 2,455 |
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Investment in equity securities |
| 2,250 |
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| 2,250 |
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Long-term financing receivables, net |
| 1,767 |
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| 2,311 |
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Deferred tax asset |
| 931 |
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| 931 |
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TOTAL ASSETS | $ | 156,908 |
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| $ | 126,861 |
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LIABILITIES AND EQUITY |
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CURRENT LIABILITIES |
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Accounts payable |
| 931 |
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| 1,161 |
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Accrued liabilities |
| 48,993 |
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| 38,205 |
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Customer deposits |
| 36,805 |
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| 26,338 |
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Other payables |
| 4,589 |
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| 9,562 |
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TOTAL CURRENT LIABILITIES | $ | 91,318 |
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| $ | 75,266 |
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Deferred tax liability |
| 10 |
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| 10 |
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TOTAL LIABILITIES | $ | 91,328 |
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| $ | 75,276 |
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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, 213,498 Shares issued and outstanding at March 31, 2026; and 210,478 Shares issued and outstanding at December 31, 2025 |
| - |
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| - |
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Additional paid-in capital |
| 181,262 |
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| 164,208 |
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Accumulated deficit |
| (116,272 | ) |
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| (112,851 | ) |
Accumulated other comprehensive income |
| 701 |
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| 318 |
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EQUITY ATTRIBUTABLE TO OWNERS |
| 65,691 |
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| 51,675 |
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Non-controlling interests |
| (111 | ) |
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| (90 | ) |
TOTAL EQUITY |
| 65,580 |
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| 51,585 |
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TOTAL LIABILITIES AND EQUITY | $ | 156,908 |
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| $ | 126,861 |
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THE REAL BROKERAGE INC. | |||||||
INTERIM CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS | |||||||
(U.S. dollars and shares in thousands, except for per share amounts) | |||||||
Unaudited | |||||||
| Three Months Ended March 31, | ||||||
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| 2026 |
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| 2025 |
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Revenues | $ | 465,551 |
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| $ | 353,981 |
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Cost of Sales |
| 423,396 |
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| 320,045 |
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Gross Profit |
| 42,155 |
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| 33,936 |
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General and administrative expenses |
| 19,004 |
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| 17,516 |
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Marketing expenses |
| 21,132 |
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| 17,697 |
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Research and development expenses |
| 5,147 |
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| 3,932 |
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Acquisition costs |
| 312 |
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|
| — |
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Operating Expenses |
| 45,595 |
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| 39,145 |
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Operating Loss |
| (3,440 | ) |
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| (5,209 | ) |
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Other income, net |
| 112 |
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| 122 |
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Finance expenses, net |
| (86 | ) |
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| (34 | ) |
Loss Before Tax | $ | (3,414 | ) |
| $ | (5,121 | ) |
Tax Expense |
| 44 |
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| — |
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Net Loss | $ | (3,458 | ) |
| $ | (5,121 | ) |
Net loss attributable to non-controlling interests |
| (37 | ) |
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| (154 | ) |
Net Loss Attributable to the Owners of the Company | $ | (3,421 | ) |
| $ | (4,967 | ) |
Other comprehensive income/(loss), Items that will be reclassified subsequently to profit or loss: |
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Unrealized gain on investments in financial assets |
| 74 |
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| 12 |
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Foreign currency translation adjustment |
| 309 |
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| (121 | ) |
Total Comprehensive Loss Attributable to Owners of the Company | $ | (3,038 | ) |
| $ | (5,076 | ) |
Total Comprehensive Loss Attributable to Non-Controlling Interest |
| (37 | ) |
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| (154 | ) |
Total Comprehensive Loss | $ | (3,075 | ) |
| $ | (5,230 | ) |
Loss per share |
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Basic loss per share | $ | (0.02 | ) |
| $ | (0.02 | ) |
Diluted loss per share | $ | (0.02 | ) |
| $ | (0.02 | ) |
Weighted-average shares, basic and diluted |
| 223,688 |
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| 204,382 |
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THE REAL BROKERAGE INC. | |||||||
INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS | |||||||
(U.S. dollar in thousands) | |||||||
Unaudited | |||||||
| Three Months Ended March 31, | ||||||
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| 2026 |
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| 2025 |
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OPERATING ACTIVITIES |
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Net Loss | $ | (3,458 | ) |
| $ | (5,121 | ) |
Adjustments to reconcile net loss to net cash provided by operating activities: |
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Depreciation and amortization |
| 575 |
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| 379 |
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Equity-settled stock-based payment |
| 17,001 |
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| 12,707 |
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Impairment of intangible assets |
| 12 |
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| - |
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Finance income (expenses) |
| 51 |
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| (149 | ) |
Changes in operating assets and liabilities: |
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Trade receivables |
| (5,015 | ) |
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| (2,555 | ) |
Financing receivables, net |
| (2,233 | ) |
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| (2,969 | ) |
Other current assets |
| 295 |
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| 175 |
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Accounts payable |
| (230 | ) |
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| (447 | ) |
Accrued liabilities |
| 10,788 |
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| 7,633 |
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Customer deposits |
| 10,467 |
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| 6,170 |
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Other payables |
| (4,973 | ) |
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| 127 |
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NET CASH PROVIDED BY OPERATING ACTIVITIES |
| 23,280 |
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| 15,950 |
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INVESTING ACTIVITIES |
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Purchase of property and equipment |
| (238 | ) |
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| (285 | ) |
Purchase of financial assets |
| (5,414 | ) |
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| (1,350 | ) |
Proceeds from sale of financial assets |
| 5,315 |
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| 257 |
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NET CASH USED IN INVESTING ACTIVITIES |
| (337 | ) |
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| (1,378 | ) |
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FINANCING ACTIVITIES |
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Repurchase of common shares |
| - |
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| (6,122 | ) |
Payment of employee taxes on certain stock-based arrangements |
| - |
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| (1,213 | ) |
Proceeds from exercise of stock options |
| 53 |
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| 310 |
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Contributions from (distributions to) non-controlling interest |
| 16 |
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| (76 | ) |
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES |
| 69 |
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| (7,101 | ) |
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Net change in cash, cash equivalents and restricted cash |
| 23,012 |
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| 7,471 |
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Cash, cash equivalents and restricted cash, beginning of period |
| 59,551 |
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| 47,465 |
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Effect of foreign exchange rate changes on cash, cash equivalents, and restricted cash |
| 258 |
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| 29 |
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CASH, CASH EQUIVALENTS AND RESTRICTED CASH, ENDING BALANCE | $ | 82,821 |
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| $ | 54,965 |
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THE REAL BROKERAGE INC. | |||||||
RECONCILIATION OF NET LOSS TO ADJUSTED EBITDA | |||||||
(U.S. dollars in thousands) | |||||||
Unaudited | |||||||
| For the Three Months Ended | ||||||
| March 31, 2026 | March 31, 2025 | |||||
Net Loss | $ | (3,458 | ) | $ | (5,121 | ) | |
Add/(Deduct): |
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Finance Expenses, Net |
| 86 |
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| 34 |
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Depreciation and Amortization |
| 575 |
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| 379 |
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Stock-Based Compensation |
| 17,001 |
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| 12,707 |
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Intangible Asset Impairment |
| 12 |
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| - |
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Restructuring Expenses |
| 240 |
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| 250 |
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Expenses Related to Litigation Settlement |
| 96 |
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| 27 |
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Acquisition Costs |
| 312 |
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| - |
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Tax Expense |
| 44 |
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| - |
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Adjusted EBITDA(i) | $ | 14,908 |
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| 8,276 |
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| i. | Represents a non-GAAP measure. Real’s method for calculating non-GAAP measures may differ from other reporting issuers’ methods and accordingly may not be comparable. For definitions and basis of presentation of Real’s non-GAAP measures, refer to the non-GAAP measures and ratios section of this press release. |
THE REAL BROKERAGE INC. | |||||
BREAKOUT OF REVENUE BY SEGMENT | |||||
(U.S. dollars in thousands) | |||||
Unaudited | |||||
| Three Months Ended March 31, | ||||
| 2026 | 2025 | |||
Main revenue streams |
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Brokerage Commissions | $ | 462,562 | $ | 351,749 | |
Title |
| 1,259 |
| 1,030 | |
Mortgage Broker Income |
| 1,294 |
| 1,076 | |
Wallet |
| 436 |
| 126 | |
Total Revenue | $ | 465,551 | $ | 353,981 | |
THE REAL BROKERAGE INC. | ||||||||
RECONCILIATION OF OPERATING EXPENSE TO ADJUSTED OPERATING EXPENSE BY QUARTER | ||||||||
(U.S. dollars in thousands) | ||||||||
Unaudited | ||||||||
| 2024 | 2025 | 2026 | |||||
| Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | Q1 |
Operating Expense | $32,512 | $34,607 | $36,371 | $39,145 | $46,177 | $45,330 | $44,283 | $45,595 |
Less: Revenue Share Expense | 12,475 | 11,651 | 9,537 | 12,504 | 17,644 | 15,738 | 14,634 | 15,688 |
Revenue Share Expense (% of revenue) | 3.7% | 3.3% | 2.7% | 3.5% | 3.3% | 2.8% | 2.9% | 3.4% |
Operating Expense Excluding Revenue Share1 | $20,037 | $22,956 | $26,834 | $26,641 | $28,533 | $29,592 | $29,649 | $29,907 |
Less: |
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Stock-Based Compensation - Employees | 2,265 | 3,139 | 3,405 | 1,651 | 2,057 | 3,422 | 2,605 | 3,027 |
Stock-Based Compensation - Agent | 2,335 | 2,665 | 2,940 | 3,115 | 3,478 | 3,935 | 4,199 | 4,371 |
Depreciation and Amortization Expense | 340 | 358 | 372 | 379 | 398 | 567 | 585 | 575 |
Restructuring Expense | — | — | — | 250 | — | — | — | 240 |
Expenses Related to Litigation Settlement | 369 | 33 | 118 | 27 | — | — | 750 | 96 |
Acquisition Costs | — | — | — | — | — | — | — | 312 |
Subtotal | 5,309 | 6,195 | 6,835 | 5,422 | 5,933 | 7,924 | 8,139 | 8,621 |
Adjusted Operating Expense2 | $14,728 | $16,761 | $19,998 | $21,219 | $22,601 | $21,668 | $21,510 | $21,286 |
Adjusted Operating Expense (% of revenue) | 4.3% | 4.5% | 5.7% | 6.0% | 4.2% | 3.8% | 4.3% | 4.6% |
1 Operating expense excluding revenue share excludes revenue share expense. |
2 Adjusted operating expense excludes revenue share, stock-based compensation, depreciation and other non-recurring or non-cash expenses. |
THE REAL BROKERAGE INC. | ||||||||
KEY PERFORMANCE METRICS BY QUARTER | ||||||||
(U.S. dollars in thousands) | ||||||||
Unaudited | ||||||||
| 2024 | 2025 | 2026 | |||||
| Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | Q1 |
Transaction Data |
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Closed Transaction Sides1 | 30,367 | 35,832 | 35,370 | 33,617 | 49,282 | 53,512 | 48,903 | 41,882 |
Total Value of Home Side Transactions ($, billions)2 | 12.6 | 14.4 | 14.6 | 13.5 | 20.1 | 21.4 | 20.3 | 16.8 |
Median Home Sales Price ($, thousands)3 | $384 | $383 | $380 | $380 | $387 | $390 | $385 | $385 |
Agent Metrics |
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Total Agents4 | 19,540 | 21,770 | 24,140 | 26,870 | 28,034 | 30,183 | 31,739 | 33,510 |
Agent Churn Rate (%)5 | 7.5 | 7.3 | 6.8 | 8.7 | 9.4 | 4.9 | 5.2 | 8.0 |
Revenue Churn Rate (%)6 | 1.6 | 2.0 | 1.8 | 2.5 | 1.9 | 1.4 | 1.6 | 2.4 |
Headcount and Efficiency Metrics |
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Full-Time Employees7 | 231 | 240 | 264 | 410 | 429 | 439 | 435 | 489 |
Full-Time Employees, Excluding One Real Title and One Real Mortgage8 | 142 | 155 | 178 | 307 | 324 | 340 | 338 | 394 |
Headcount Efficiency Ratio9 | 1:138 | 1:140 | 1:136 | 1:88 | 1:87 | 1:89 | 1:94 | 1:85 |
Revenue Per Full Time Employee ($, thousands)10 | $2,400 | $2,403 | $1,970 | $1,153 | $1,669 | $1,672 | $1,490 | $1,182 |
Operating Expense Excluding Revenue Share ($, thousands)11 | $20,037 | $22,956 | $26,835 | $26,641 | $28,533 | $29,592 | $29,649 | $29,907 |
Operating Expense Per Transaction Excluding Revenue Share ($)12 | $660 | $641 | $759 | $792 | $579 | $553 | $606 | $714 |
Adjusted Operating Expense ($, thousands)13 | $14,728 | $16,761 | $19,998 | $21,219 | $22,601 | $21,668 | $21,510 | $21,286 |
Adjusted Operating Expense Per Transaction ($)14 | $485 | $468 | $565 | $631 | $459 | $405 | $440 | $508 |
1 Represents the number of transactions closed by our agents during the period. |
2 Represents the U.S. dollar value of all sale, lease and purchase transactions closed by our agents during the period. |
3 Represents the median price (in USD) of homes sold or purchased by our agents during the period, based on closed transactions. |
4 Represents the total number of agents affiliated with Real at the end of the period. |
5 Represents the rate at which agents left our platform during the period, calculated as the number of churned agents during the period divided by the total agent base at the beginning of the period. |
6 A supplementary financial measure, calculated as the percentage of revenue lost from agents who churned during the period, calculated as commission revenue generated by churned agents during the last six months divided by total Company commissions revenue for the last six months. |
7 Represents the total number of full-time employees of the Company at period end. |
8 Represents the total number of full-time employees of the Company excluding employees of One Real Title and One Real Mortgage. |
9 Represents the ratio of full-time brokerage employees (excluding One Real Title and One Real Mortgage employees) to the number of agents on our platform. |
10 A supplementary financial measure calculated as total company revenue divided by full-time brokerage employees (excludes One Real Title and One Real Mortgage employees). |
11 A non-GAAP measure, calculated as total operating expenses per the Financial Statements, less revenue share expense. Real's method for calculating non-GAAP measures may differ from other reporting issuers' and accordingly may not be comparable. For definitions and basis of presentation of Real's non-GAAP measures, refer to the "Non-GAAP measures and ratios" section in this press release. |
12 A non-GAAP measure, calculated as operating expense excluding revenue share, divided by the number of closed transaction sides. Real's method for calculating non-GAAP measures may differ from other reporting issuers' and accordingly may not be comparable. For definitions and basis of presentation of Real's non-GAAP measures, refer to the "Non-GAAP measures and ratios" section in this press release. |
13 Adjusted operating expense excludes revenue share, stock-based compensation, depreciation and other non-recurring or non-cash expenses. |
14 Adjusted operating expense per transaction, calculated as adjusted operating expense divided by the number of closed transaction sides. |
Cautionary Disclosure Regarding Forward-Looking Statements
This press release contains certain “forward-looking statements” and “forward-looking information” within the meaning of applicable United States and Canadian securities laws, including Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. Forward-looking statements/forward-looking information include all statements that do not relate solely to historical or current facts, and can generally be identified by the use of words such as “believe,” “expect,” “anticipate,” “intend,” “project,” “estimate,” “potential,” “plan,” and similar expressions or future or conditional verbs such as “will,” “should,” “would,” “may” and “could.” These forward-looking statements/forward-looking information include, but are not limited to, statements related to the expected benefits of the proposed transaction; the anticipated impact of the proposed transaction on the combined company’s business and future financial and operating results, including the expected leverage of the combined company and the amount and timing of synergies from the proposed transaction; the completion of the transaction and the expected timeline; and the ability to satisfy all closing conditions, including the receipt of required approvals for the transaction. Forward-looking statements/forward-looking information inherently involve many risks and uncertainties that could cause actual results to differ materially from those projected in these statements, including statements about the consummation of the proposed transaction and the anticipated benefits thereof.
Contacts
For additional information, please contact:
Loren Irwin
Director, Investor Relations and Financial Reporting
investors@therealbrokerage.com
908.280.2515
For media inquiries, please contact:
press@therealbrokerage.com
201.564.4221
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