The Real Brokerage reported second-quarter revenue of $700.6 million, up 30% year over year, driven by a 27% increase in closed transactions to 62,380 sides. Non-GAAP adjusted EBITDA grew 38% to $27.6 million, while net loss was $8 million, including $11.6 million in acquisition-related costs tied to the pending RE/MAX transaction. Agent count rose 26% year over year to 35,348 at quarter end and has since exceeded 36,000. Gross margin declined to 8.3% from 8.9% a year earlier as capped agents accounted for 42% of closed sides, up 300 basis points. Management expects third-quarter revenue and adjusted EBITDA to decline sequentially due to normal seasonal patterns, and the company ended the quarter with $86.6 million in unrestricted cash and investments.
Real Brokerage IncRevenue and adjusted EBITDA grew strongly, though net loss and margin decline temper the positive.
Re Max HoldingPending RE/MAX transaction mentioned as acquisition-related costs, but impact on RE/MAX itself not detailed.
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