MIAMI--(BUSINESS WIRE)--August 06, 2026-- 

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 second quarter ended June 30, 2026.

"Real delivered another quarter of significant double-digit organic revenue growth and Adjusted EBITDA margin expansion, despite an overall housing market that remains near trough levels," said Tamir Poleg, Real's Chairman and Chief Executive Officer. "We enter the second half of the year with a robust pipeline and continue to make meaningful progress toward closing our acquisition of RE/MAX Holdings Inc. ("REMAX"), with our securityholder meeting to approve the transaction scheduled for August 14, 2026. We look forward to bringing together REMAX's iconic global brand and network of over 140,000 agents with Real's technology platform as the Real REMAX Group, and to building the technology-enabled real estate platform of the future together."

"Real's agent count grew 26% year-over-year to 35,348 in the second quarter, and we continue to make progress rolling out AI enhancements across our technology platform to improve the agent experience, while driving growth across our higher-margin ancillary services. With integration planning under way we have high confidence in our ability to achieve $30 million of cost synergies within three years post-closing," said Jenna Rozenblat, Chief Operating Officer and Chief Integration Officer.

"Real delivered another quarter of strong financial performance," said Ravi Jani, Chief Financial Officer. "Revenue grew 30% to $700.6 million, and GAAP net loss was $8.0 million, including approximately $11.6 million of acquisition costs related to the pending REMAX acquisition. On a non-GAAP basis, Adjusted EBITDA(1) grew 38% to $27.6 million. We ended the quarter with $86.6 million in cash and no debt, providing us with significant financial flexibility as we work toward closing the REMAX acquisition."

Q2 2026 Financial Highlights(2)

   --  Revenue rose to $700.6 million in the second quarter of 2026, an 
      increase of 30% from $540.7 million in the second quarter of 2025. 
 
   --  Gross profit reached $58.3 million in the second quarter of 2026, an 
      increase of 22% from $47.9 million in the second quarter of 2025. 
 
   --  Operating expenses, consisting of general and administrative, marketing, 
      research and development expenses, and acquisition costs totaled $65.3 
      million in the second quarter of 2026, a 41% increase from $46.2 million 
      in the second quarter of 2025. Costs related to the Company's pending 
      acquisition of RE/MAX Holdings, Inc. ("Acquisition Costs") for the three 
      months ended June 30, 2026, were $11.6 million. 
 
   --  Net loss was $(8.0) million for the three months ended June 30, 2026, 
      compared to net income of $1.6 million for the three months ended June 
      30, 2025. 
 
   --  Basic and diluted loss per share was $(0.03) in the second quarter of 
      2026, compared to basic and diluted earnings per share of $0.01 in the 
      second quarter of 2025. 
 
   --  Adjusted EBITDA was $27.6 million in the second quarter of 2026, 
      compared to $20.0 million in the second quarter of 2025. 
 
   --  Revenue share expense, which is included in Marketing expenses, totaled 
      $22.2 million in the second quarter of 2026, a 26% increase compared to 
      $17.6 million in the second quarter of 2025. 
 
   --  Adjusted Operating Expense, which reflects operating expenses less 
      revenue share expense, stock-based compensation, depreciation, and other 
      unique or non-cash expenses, was $23.1 million in the second quarter of 
      2026, compared to $22.6 million in the second quarter of 2025. 
 
   --  Adjusted Operating Expense Per Transaction was $371 in the second 
      quarter of 2026, a decline of 19% from $459 in the second quarter of 
      2025. 
 
   --  Cash provided by operating activities totaled $47.2 million during the 
      second quarter of 2026. 
 
   --  The Company ended the second quarter of 2026 with $86.6 million of 
      unrestricted cash and equivalents and short-term investments on its 
      balance sheet and no debt. 
 
(1) There 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. 
(2) All dollar references are in U.S. dollars. 
 

Q2 2026 Business and Operational Highlights

   --  North American Brokerage 
 
          --  North American Brokerage revenue rose to $696.4 million in the 
             second quarter of 2026, an increase of 30% from $537.4 million in 
             the second quarter of 2025. 
 
          --  The total number of agents increased to 35,348 at the end of the 
             second quarter of 2026, a 26% increase from the second quarter of 
             2025. 
 
          --  The total number of transactions closed was 62,380 in the second 
             quarter of 2026, an increase of 27% from 49,282 in the second 
             quarter of 2025. 
 
          --  The total value of completed real estate transactions reached 
             $26.3 billion in the second quarter of 2026, an increase of 31% 
             from $20.1 billion in the second quarter of 2025. 
 
          --  As of August 5, 2026, over 36,000 agents are now on the Real 
             platform. 
 
 
 
   --  One Real Title 
 
          --  One Real Title revenue was $1.7 million in the second quarter of 
             2026, a 29% increase compared to $1.3 million in the second 
             quarter of 2025. 
 
 
 
   --  One Real Mortgage 
 
          --  One Real Mortgage revenue reached $1.9 million in the second 
             quarter of 2026, a 10% increase compared to $1.7 million in the 
             second quarter of 2025. 
 
          --  As of August 2026, One Real Mortgage had 169 mortgage loan 
             officers, including 137 affiliated with the Real Originate 
             program. 
 
 
 
   --  Real Wallet 
 
          --  Real Wallet revenue totaled $592 thousand in the second quarter 
             of 2026, a 140% increase compared to $247 thousand in the second 
             quarter of 2025. 
 
          --  As of August 2026: 
 
                 --  More than 10,200 Real agents were utilizing Real Wallet 
                    Business Checking Accounts, including over 1,750 Real 
                    Wallet Tax Planning Business Checking Accounts. 
 
                 --  The total deposit balance held in all Real Wallet 
                    Business Checking Accounts, including Tax Planning Business 
                    Checking Accounts, was approximately $38.4 million. 
 
                 --  The total balance of credit outstanding under Real Wallet 
                    lines of credit and business loans was $10.8 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 through Thread Bank, Member FDIC, including 
             Company-branded debit cards; (ii) Real Wallet Rewards, under which 
             agents may earn points based on account balances and transaction 
             activity that may be applied to reduce brokerage fees, subject to 
             program terms and conditions; and (iii) business loans for 
             eligible agents in certain U.S. states and Canadian provinces, 
             based on their earnings history with Real. 
 
 

Corporate Update

   --  On April 26, 2026, the Company entered into a definitive agreement to 
      acquire REMAX. Under the terms of the agreement, which has been approved 
      by the boards of directors of both companies, Real formed a new holding 
      company, expected to be renamed Real REMAX Group Inc., which is expected 
      to trade on the Nasdaq Global Select Market under the symbol "REAX" 
      following closing. The transaction is expected to close in the second 
      half of 2026, subject to approval by the Company's securityholders and 
      REMAX's shareholders, and satisfaction of specified closing conditions. 
      The Company's Special Meeting of Securityholders to approve the 
      transaction will be held on August 14, 2026. As previously announced, the 
      Company has already received HSR antitrust clearance for the 
      transaction. 
 
   --  On June 2, 2026, the Company announced it had expanded into New 
      Brunswick, marking the Company's sixth Canadian province. 

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: 
 
Date:              Thursday, August 6, 2026 
 
Time:              8:00 am ET 
 
                   North American Toll Free: 888-506-0062 
Dial-in Number:     International: 973-528-0011 
 
Access Code:       191114 
 
Webcast:           https://www.webcaster5.com/Webcast/Page/2699/54149 
 
Replay Information: 
 
                   North American Toll Free: 877-481-4010 
Replay Number:      International: 919-882-2331 
 
Access Code:       54149 
 
Replay Link:       https://www.webcaster5.com/Webcast/Page/2699/54149 
 

Non-GAAP Measures and Ratios