Financial Performance - Total revenue for the first quarter of 2024 was $78.3 million, a decrease of 8.3% from $85.4 million in the same period in 2023[123] - Revenue excluding Marketing Funds decreased 9.3% to $58.1 million, driven by negative organic revenue growth of 9.3%[123] - Net loss attributable to RE/MAX Holdings, Inc. was $3.4 million, compared to a loss of $0.7 million in the prior year[123] - Adjusted EBITDA was $19.0 million with an Adjusted EBITDA margin of 24.3%, compared to $19.9 million and 23.3% in the prior year[128] - Revenue from Continuing Franchise Fees decreased due to a reduction in U.S. agent count, partially offset by higher Mortgage segment revenue[135] - Revenue from Broker Fees decreased primarily due to a reduction in U.S. agent count, partially offset by an increase in average home sales price[136] - Total operating expenses for the three months ended March 31, 2024, were $73.763 million, a decrease of 6.0% from $78.490 million in the prior year[140] - Adjusted EBITDA was $19.0 million for the three months ended March 31, 2024, a decrease of $0.9 million from the comparable prior year period[147] - Interest expense increased to $9.256 million for the three months ended March 31, 2024, compared to $8.245 million in the prior year, reflecting a 12.3% increase[143] - Total other expenses, net increased to $8.627 million for the three months ended March 31, 2024, compared to $7.198 million in the prior year, a 19.9% increase[143] Agent and Franchise Metrics - Total agent count decreased 0.2% to 143,287 agents, with a 4.3% decline in U.S. and Canada combined agent count to 78,955 agents[128] - RE/MAX franchise sales in the U.S. decreased by 55.4% to 25, while total franchise sales dropped by 29.6% to 145[130] - Franchise sales and other revenue decreased by approximately $3.3 million due to lower attendance at the annual RE/MAX agent convention[138] Cash and Debt Management - The company agreed to a settlement amount of $55.0 million related to industry litigation, with $27.5 million already paid[127] - The company is focused on rebuilding cash reserves following the settlement and current market challenges[127] - Cash provided by operating activities increased to $9.4 million for the three months ended March 31, 2024, compared to $3.1 million for the same period in 2023[170] - The company had $447.4 million in term loans outstanding as of March 31, 2024, with no revolving loans drawn under the Senior Secured Credit Facility[169] - The interest rate on the term loan facility was 7.9% as of March 31, 2024, with a potential additional annual interest expense of $1.1 million for each hypothetical 0.25% increase[190] - As of March 31, 2024, RE/MAX, LLC's Total Leverage Ratio (TLR) was 8.51:1, exceeding the 4.50:1 threshold, which restricts access to borrowings under the revolving line of credit[165] Operational Changes and Future Plans - A modified pilot program to attract and grow teams of real estate agents was extended to the majority of the U.S. as of April 1, 2024[125] - The company plans to pursue acquisitions of Independent Regions in the U.S. and Canada as part of its growth strategy, funded by existing cash and cash flow from operations[176] - Total capital expenditures for 2024 are expected to be between $7.0 million and $9.0 million, primarily for building refresh and technology investments[177] - The company suspended its quarterly dividend in the fourth quarter of 2023 to preserve capital amid ongoing litigation and challenging market conditions[178] - During the three months ended March 31, 2024, the company did not repurchase any shares of Class A common stock, with $62.5 million remaining available under the share repurchase authorization[179] Compliance and Internal Controls - The company maintains effective disclosure controls and procedures as of March 31, 2024, ensuring timely reporting in compliance with SEC rules[195] - No changes in internal control over financial reporting were identified during the quarter ended March 31, 2024, that materially affected internal controls[196] Miscellaneous - Total open Motto Mortgage offices increased by 4.7% to 243 offices[128] - Cash and cash equivalents were $82.1 million as of March 31, 2024, with approximately $33.0 million in foreign currencies[170] - The consolidated EBITDA for RE/MAX, LLC was $42.8 million on a trailing twelve-month basis as of March 31, 2024[162] - Total selling, operating and administrative expenses decreased to $45.705 million for the three months ended March 31, 2024, from $49.115 million in the prior year, a decrease of 6.9%[141]

Exhibit 99.1 RE/MAX HOLDINGS, INC. REPORTS FIRST QUARTER 2024 RESULTS Total Revenue of $78.3 Million, Adjusted EBITDA of $19.0 Million DENVER, May 2, 2024 First Quarter 2024 Highlights (Compared to first quarter 2023 unless otherwise noted) Operating Statistics as of April 30, 2024 (Compared to April 30, 2023, unless otherwise noted) RE/MAX Holdings, Inc. (the "Company" or "RE/MAX Holdings") (NYSE: RMAX), parent company of RE/MAX one of the world's leading franchisors of real estate brokerage services, and ...

The luxury real estate event will take place June 18-19 at The Ritz-Carlton, Lake Tahoe DENVER, April 30, 2024 /PRNewswire/ -- RE/MAX®, the No. 1 name in real estate*, is gearing up to host its renowned networking and business development experience for luxury real estate agents – The RE/MAX Collection Luxury Forum, set for June 18-19 at The Ritz-Carlton in Lake Tahoe, California. The RE/MAX Collection is a luxury home marketing program exclusive to RE/MAX associates and their affluent homebuyers and selle ...

Looking for a stock that has been consistently beating earnings estimates and might be well positioned to keep the streak alive in its next quarterly report? RE/MAX (RMAX) , which belongs to the Zacks Real Estate - Operations industry, could be a great candidate to consider.This franchisor of residential real estate brokerages has seen a nice streak of beating earnings estimates, especially when looking at the previous two reports. The average surprise for the last two quarters was 9.13%.For the most recent ...

Inventory Gains and a Surge of New Listings Highlight a March in Which Sales Climbed from February 2024 But Trailed March 2023  DENVER, April 18, 2024 /PRNewswire/ -- Home sales in March increased 21.6% over February while trailing the March activity of a year ago. At the same time, a 20.9% surge in new listings during the month fueled a substantial 7.7% expansion in inventory. The inventory gains helped expand the supply of homes for sale by 24.2% year over year, setting the stage for the customary peak ho ...

DENVER, April 9, 2024 /PRNewswire/ -- RE/MAX Holdings, Inc. (NYSE: RMAX), parent company of RE/MAX, one of the world's leading franchisors of real estate brokerage services, and Motto Mortgage, the first and only national mortgage brokerage franchise brand in the U.S., will release financial results for the quarter ended March 31, 2024, after market close on Thursday, May 2, 2024, and will host a conference call and webcast for interested parties on Friday, May 3, 2024, at 8:30 a.m. Eastern Time.RE/MAX Hold ...

According to the 2024 RealTrends Verified Rankings of Large Brokerages, RE/MAX Agents Averaged Twice as Many Transaction Sides as Competing Agents in 2023 DENVER, April 4, 2024 /PRNewswire/ -- The newly released 2024 RealTrends Verified Best Brokerages rankings, formerly known as the RealTrends 500, once again revealed RE/MAX® agents are the most productive in the U.S., outperforming competitors at participating large brokerages 2-to-1. The widely respected report showed RE/MAX agents averaged 11.8 transact ...

The consistently strong showing of RE/MAX in the Entrepreneur Franchise 500 ranking is a testament to the quality of the RE/MAX brand and its franchisees DENVER, March 21, 2024 /PRNewswire/ -- For the 40th consecutive year, RE/MAX, the #1 name in real estate1, has earned a spot on the prestigious Entrepreneur Franchise 500® ranking, which evaluates strong, influential franchisors across the U.S. and Canada. RE/MAX was also named to the Franchise 500 Hall of Fame – an exceptional honor for elite brands that ...

Home Sales Rise, With Sellers Getting Almost Full Listing Price DENVER, March 19, 2024 /PRNewswire/ -- With the annual spring homebuying season coming quickly, home sales ramped up in February and spiked 17.0% from January, with a 2.3% increase from February 2023. Of those sales, buyers paid more. The median home price of $412,000 rose 2.1% from January – and 7.0% year over year. The $27,000 increase from February 2023 reflected that buyers on average were willing to pay 99% of the listing price. In a third ...

Network Gains 300 New Offices in Q4, Fueled by New Franchisees Seeking Brand Power, Resources and Support DENVER, March 14, 2024 /PRNewswire/ -- RE/MAX®, the #1 name in real estate1, reported considerable sales in the fourth quarter of 2023. With a commitment to supporting franchisees and agents, RE/MAX successfully added 300 new RE/MAX offices and renewed 295 existing agreements worldwide, further solidifying its position as a global leader in the industry. The fourth quarter sales were the highest for th ...