The Real Brokerage Inc. Earnings Recaps
Q1 2026
May 9, 2026
Shares declined 2.4% following the quarter as investors appeared cautious despite revenue growth and margin improvement, likely reflecting concerns about decelerating market conditions and a cautious outlook amid a soft housing environment.
Key takeaways
- Revenue grew 32% year-over-year to $466 million, driven by a 25% increase in closed transactions to nearly 42,000 agents despite soft U.S. and Canadian housing markets.
- Operating loss narrowed by $1.8 million to $3.4 million, with adjusted EBITDA increasing 80% to $14.9 million, indicating improving leverage.
- Agent count grew modestly to approximately 33,500 by quarter-end and over 33,900 by early May, suggesting stable retention amid industry-wide headwinds.
- Ancillary businesses showed progress: Real Wallet revenue tripled to $436,000 with 8,000 active agents; One Real Title and One Real Mortgage revenues rose 22% and 20%, respectively.
- The announced RE/MAX acquisition underscores long-term growth ambitions but introduces integration risks and no near-term financial impact reflected in this quarter’s results.
Q3 2025
Nov 1, 2025
Real Brokerage delivered robust Q3 results, with a 53% year-over-year revenue increase driven by significant agent growth and enhanced productivity, all while approaching breakeven on net loss.
Key takeaways
- Revenue surged to $569 million, with brokerage revenue contributing $565 million, reflecting a 53% growth.
- Closed transactions increased nearly 50% year-over-year, surpassing 53,500 and pushing agent count above 30,100, marking a 39% year-on-year gain.
- Adjusted EBITDA improved by 54% to $20.4 million, supporting positive operating cash flow of approximately $9 million.
- Launch of Real Wallet Capital adds a unique financing solution for agents, enhancing both retention and competitive differentiation.
- Real continues to innovate with AI-driven operational efficiencies, saving over 10,000 hours annually through workflow automation.