Real Matters Reports Third Quarter Financial Results

Core Insights - Real Matters Inc. reported a consolidated revenue of $45.4 million for Q3 2025, reflecting a 22% sequential increase but an 8% year-over-year decline [2][7] - The company achieved a positive Adjusted EBITDA of $0.3 million, a significant improvement from a loss of $1.9 million in the previous quarter [2][7] - The net loss for the quarter was $4.9 million, a decline from a net income of $1.7 million in Q3 2024, primarily due to a $5.6 million increase in net foreign exchange loss [7] Financial Performance - Consolidated revenue for Q3 2025 was $45.4 million, up 22% from $37.3 million in Q2 2025 but down 8% from $49.5 million in Q3 2024 [5][7] - Net revenue reached $11.9 million, an 18% increase from $10.1 million in Q2 2025 but a 10% decrease from $13.1 million in Q3 2024 [5][7] - Adjusted EBITDA was $0.3 million, compared to $(1.9) million in Q2 2025 and $1.7 million in Q3 2024, marking a 116% increase quarter-over-quarter but an 82% decrease year-over-year [5][7] - The net loss per diluted share was $(0.07), compared to $(0.03) in Q2 2025 and $0.02 in Q3 2024 [5][7] Operational Highlights - The company launched four new clients across all segments during Q3 2025 and performed well on lender scorecards [3] - U.S. Appraisal mortgage origination volumes decreased by 16% year-over-year, attributed to lower purchase origination volumes [7] - U.S. Title mortgage origination volumes increased by 52% year-over-year, driven by market share gains and higher refinance origination volumes [7] - As of June 30, 2025, the company had cash and cash equivalents of $43.8 million and no outstanding debt [7] Market Position and Strategy - The company is strategically positioned to capitalize on the potential refinancing opportunities as nearly 12 million mortgages currently have rates above 6%, with about 8 million above 6.5% [3] - Real Matters continues to focus on growing market share and preparing for scaling operations as mortgage market volumes normalize [3]