RE/MAX(RMAX)

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RE/MAX(RMAX) - 2022 Q3 - Quarterly Report
2022-11-02 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended September 30, 2022. OR ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from to Commission file number: 001-36101 RE/MAX Holdings, Inc. (Exact name of registrant as specified in its charter) Delaware 80-0937145 (State or other jurisdiction o ...
RE/MAX(RMAX) - 2022 Q2 - Earnings Call Transcript
2022-08-05 17:59
RE/MAX Holdings (RMAX) Q2 2022 Earnings Conference Call August 5, 2022 8:30 AM ET Company Participants Andy Schulz - SVP, IR Steve Joyce - CEO Ward Morrison - President and CEO, Motto Mortgage and Wemlo Nick Bailey - President and CEO, RE/MAX, LLC Karri Callahan - CFO Conference Call Participants Anthony Paolone - JPMorgan Ryan McKeveny - Zelman & Associates Tommy McJoynt - KBW John Campbell - Stephens Ronald Kamdem - Morgan Stanley Matt Filek - William Blair Operator Good morning, and welcome to the RE/MAX ...
RE/MAX(RMAX) - 2022 Q2 - Earnings Call Presentation
2022-08-05 17:04
RE/MAX W H O L D I N G S, I N C. RE/MAX Holdings, Inc. Second Quarter 2022 Earnings August 5, 2022 Forward-Looking Statements This presentation includes "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements are often identified by the use of words such as "believe," "intend," "expect," "estimate," "plan," "outlook," "project," "anticipate," "may," "will, " would" and other similar word ...
RE/MAX(RMAX) - 2022 Q2 - Quarterly Report
2022-08-03 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from to Commission file number: 001-36101 RE/MAX Holdings, Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) 5075 South Syracuse Street Denver, Colora ...
RE/MAX(RMAX) - 2022 Q1 - Earnings Call Presentation
2022-05-03 09:01
RE/MAX® H O L D I N G S, I N C. RE/MAX Holdings, Inc. First Quarter 2022 Earnings April 29, 2022 Forward-Looking Statements This presentation includes "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements are often identified by the use of words such as "believe," "intend," "expect," "estimate," "plan," "outlook," "project," "anticipate," "may," "will," "would" and other similar words ...
RE/MAX(RMAX) - 2022 Q1 - Earnings Call Transcript
2022-04-29 17:50
RE/MAX Holdings, Inc. (RMAX) Q1 2022 Earnings Conference Call April 29, 2022 8:30 AM ET Company Participants Andy Schulz – Senior Vice President of Investor Relations Steve Joyce – Chief Executive Officer Ward Morrison – President and Chief Executive Officer of Motto Mortgage and Wemlo Nick Bailey – President and Chief Executive Officer of RE/MAX, LLC Karri Callahan – Chief Financial Officer Conference Call Participants Rich Hill – Morgan Stanley Anthony Paolone – JP Morgan Ryan McKeveny – Zelman & Associat ...
RE/MAX(RMAX) - 2022 Q1 - Quarterly Report
2022-04-27 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended March 31, 2022. OR ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from to Commission file number: 001-36101 RE/MAX Holdings, Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organ ...
RE/MAX(RMAX) - 2021 Q4 - Earnings Call Presentation
2022-02-28 05:32
RE/MAX® H O L D I N G S, I N C. RE/MAX Holdings, Inc. Fourth Quarter & FY 2021 Earnings February 24, 2022 Forward-Looking Statements This presentation includes "forward-hooking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Lifigation Reform Act of 1995. Forward-looking statements are often identified by the use of words such as "believe," "intend," "expect," "estimate," "plan," "outlook," "project," "anticipate," "may," "will," "would" and other simil ...
RE/MAX(RMAX) - 2021 Q4 - Earnings Call Transcript
2022-02-28 02:48
RE/MAX Holdings, Inc. (RMAX) Q4 2021 Earnings Conference Call February 24, 2022 8:30 AM ET Company Participants Andy Schulz - Senior Vice President, Investor Relations Adam Contos - Chief Executive Officer Steve Joyce - Director and Incoming Chief Executive Officer Karri Callahan - Chief Financial Officer Nick Bailey - Chief Customer Officer Ward Morrison - President and Chief Executive Officer, Motto Franchising Conference Call Participants Ryan McKeveny - Zelman & Associates Stephen Sheldon - William Blai ...
RE/MAX(RMAX) - 2021 Q4 - Annual Report
2022-02-22 16:00
Acquisitions - The company acquired the North American regions of RE/MAX INTEGRA for cash consideration of approximately $235.0 million on July 21, 2021[323]. - The company acquired the operating companies of RE/MAX INTEGRA, converting over 19,000 agents into Company-Owned Regions in 2021[352]. - The company acquired Gadberry for a total of $20 million, including $4.6 million in cash and $5.5 million in common stock, plus $9.9 million in equity-based compensation[434]. - The acquisition of wemlo was completed for $6.1 million in cash and $3.3 million in common stock, along with $6.7 million in equity-based compensation[435]. - The total purchase price allocated to assets and liabilities for the acquisition of INTEGRA was $194.1 million, with a total consideration of $235 million[432]. - The Company recorded $108.9 million in goodwill from the acquisition of INTEGRA, primarily attributable to expected synergies and projected long-term revenue growth[433]. Financial Performance - Total revenue for 2021 was $329.7 million, an increase of 24% from $266.0 million in 2020[341]. - Net loss attributable to RE/MAX Holdings, Inc. for 2021 was $15.6 million, compared to a net income of $11.3 million in 2020[341]. - Total revenue for the year ended December 31, 2021, was $356.5 million, compared to $309.5 million in 2020, reflecting a year-over-year increase of approximately 15.2%[440]. - The net income attributable to RE/MAX Holdings, Inc. for 2021 was a loss of $16.1 million, compared to a net income of $6.5 million in 2020[440]. - The company reported a loss before provision for income taxes of $22,161,000 in 2021, a decline from a profit of $29,708,000 in 2020[490]. Assets and Liabilities - Total assets increased to $776.1 million in 2021, up from $546.4 million in 2020, representing a growth of 42%[338]. - Total liabilities rose to $707.1 million in 2021, compared to $444.7 million in 2020, marking a 59% increase[338]. - As of December 31, 2021, total debt was $457.7 million, significantly increased from $225.0 million in 2020[449]. - Cash and cash equivalents increased to $126.3 million in 2021, up from $101.4 million in 2020, a growth of 24.6%[338]. - Long-term deferred tax assets, net of valuation allowance, amounted to $54.52 million as of December 31, 2021, compared to $53.47 million in 2020[463]. Revenue Streams - The company reported a significant increase in franchise fees, which rose to $118.5 million in 2021, up from $90.2 million in 2020, a growth of 31%[341]. - Fee revenue for the year ended December 31, 2021, was $211,618,000, up from $169,966,000 in 2020, indicating a growth of approximately 24.5%[376]. - Continuing franchise fees increased to $110.6 million in 2021 from $84.9 million in 2020, representing a growth of 30%[488]. - Total revenue from mortgage processing increased to $10,051,000 in 2021 from $6,610,000 in 2020, showing a growth trend in this segment[376]. - The mortgage segment reported total revenue of $10.1 million in 2021, up from $6.6 million in 2020, marking a 53% increase[488]. Expenses - Selling, operating, and administrative expenses for 2021 were $179.9 million, an increase of 39% from $129.0 million in 2020[341]. - Equity-based compensation expense rose to $34.30 million in 2021, up from $16.27 million in 2020, indicating increased investment in talent[350]. - Acquisition-related expenses increased to $17,422,000 in 2021 from $2,375,000 in 2020, showing a significant rise of 632.5%[490]. - Interest expense increased to $11,344,000 in 2021 from $9,223,000 in 2020, reflecting a rise of 23.1%[490]. - The company incurred a loss on contract settlement amounting to $40,900,000 in 2021[490]. Cash Flow - Cash flows from operating activities decreased to $42.44 million in 2021 from $70.85 million in 2020, reflecting a decline of approximately 40%[350]. - Total cash used in investing activities significantly increased to $194.92 million in 2021 from $17.53 million in 2020, primarily due to acquisitions[350]. - Cash, cash equivalents, and restricted cash at the end of the period increased to $158.40 million in 2021 from $121.23 million in 2020[350]. - The company declared cash dividends of $0.92 per share for Class A common stock in 2021, compared to $0.88 in 2020[341]. Credit and Risk Management - The company is exposed to credit risk related to receivables from franchisees and performs quarterly reviews of credit exposure[309]. - The allowance for doubtful accounts decreased to $9,564,000 in 2021 from $11,724,000 in 2020, indicating improved credit quality[385]. - The company does not engage in interest rate hedging but monitors interest rates for potential future hedging activities[310]. - A hypothetical 5% strengthening/weakening of the U.S. dollar compared to the Canadian dollar would have resulted in a decrease/increase to operating income of approximately $1.2 million during the year ended December 31, 2021[313]. Technology and Growth Initiatives - The company is focused on diversifying and broadening its revenue and growth opportunities through technology initiatives and potential acquisitions[16]. - Technology operating costs increased to $13,396,000 in 2021 from $12,245,000 in 2020, reflecting ongoing investments in technology[380]. - The company aims to increase the number of RE/MAX agents and closed transaction sides, as well as expand the number of Motto Mortgage offices[16]. Tax and Valuation - The provision for income taxes for 2021 was $2.46 million, significantly lower than $9.16 million in 2020[461]. - The Company assesses the recoverability of deferred tax assets based on expected future earnings and may establish a valuation allowance if full recoverability is not likely[397]. - The Company anticipates utilizing its net operating loss carryforward of $0.7 million related to a Canadian subsidiary within the next two years[465].