RMAX
RE/MAX Holdings, Inc.7.99
-0.01-0.13%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Q&A details Aspire traction, AI plans
Q&A largely reaffirmed prepared remarks, detailing Aspire's early cohorts with reduced churn, productivity upticks, and recruitment boost—best Q4 U.S. agent stability since 2021. Management outlined purposeful AI deployment via Max AI for leads and workflow tools to help agents win listings faster. Guidance swing factors: macro housing tailwinds, conversion pipeline, new monetization growth. They normalized Q4 SG&A run-rate after $1M one-time asset charge. Leverage under 3.5x revives buyback flexibility, prudently balanced with reinvestment. No bombshells here. Investors eye U.S. agent momentum and conversions.
Key Stats
Market Cap
420.63MP/E (TTM)
12.68Basic EPS (TTM)
0.63Dividend Yield
0%Recent Filings
8-K
Q4 revenue dips, agents grow globally
RE/MAX Holdings reported Q4 revenue down 1.8% to $71.1M, Adjusted EBITDA off 4.0% to $22.4M, yet agent count rose 1.4% to 148,660—global growth offset U.S./Canada's 4.6% drop to 72,977. Momentum builds from brand investments amid tough housing. Q1 2026 guides revenue $69M-$74M, Adjusted EBITDA $14M-$17M. U.S. agent losses persist.
10-K
FY2025 results
RE/MAX Holdings posted FY2025 revenue of $291.6M, down 5.2% y/y, with revenue excluding Marketing Funds at $218.8M (-4.3%, derived from organic -3.9%). U.S. agent count fell 6.1% to 48,165 while global hit a record 148,660 (+1.4%), but Motto offices plunged 24% to 171 after terminating underperformers. Broker fees rose 3.6% to $53.7M on higher home prices and Aspire program shifts, yet continuing fees dropped 7.5%; Adjusted EBITDA dipped 4.1% to $93.7M (32.1% margin). Q4 saw U.S. agent stabilization after three quarters flat, plus MaaS launch aiding momentum. No dividends or buybacks; $436.8M debt at 6.3%, TLR 3.12x, $118.7M cash. Antitrust suits remain a litigation overhang.
8-K
Lim promoted to President
RE/MAX promoted Chris Lim to President and Chief Growth Officer of RE/MAX, LLC on February 17, 2026, boosting his base salary to $425,000 with incentives tied to performance. This elevates oversight of the global network amid recent agent count highs and expansions into six countries. Leadership bolsters growth strategy. Risks tie to real estate market shifts.
10-Q
Q3 FY2025 results
RE/MAX Holdings posted Q3 revenue of $73.2M, down 6.7% y/y amid U.S. agent count drops, yet operating income climbed 20.4% y/y to $18.3M on lower personnel costs and a $2.1M settlement recovery. Diluted EPS hit $0.19, up from $0.05 y/y, reconciling cleanly with 20.7M weighted shares. Cash swelled to $107.5M, free cash flow (derived) at $23.3M for the nine months on $28.0M operating cash minus $4.6M capex, while $440.5M term debt at 6.8% carries a 3.41:1 leverage ratio and full $50M revolver availability. New Aspire and Ascend programs aim to stem agent churn. Ongoing antitrust appeals pose litigation risks.
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