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RE/MAX(RMAX) - 2025 Q1 - Earnings Call Presentation
2025-05-02 12:36
First Quarter 2025 Earnings May 2, 2025 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 and expressions that predict or indicate future events or ...
RE/MAX HOLDINGS, INC. REPORTS FIRST QUARTER 2025 RESULTS
Prnewswire· 2025-05-01 20:15
Core Insights - RE/MAX Holdings reported a net loss of $2.0 million for Q1 2025, an improvement from a net loss of $3.4 million in Q1 2024, with basic and diluted GAAP loss per share at $(0.10) compared to $(0.18) in the prior year [8][10][12] Group 1: Operating Results - Total revenue for Q1 2025 was $74.5 million, down 4.9% from $78.3 million in Q1 2024, with revenue excluding Marketing Funds at $55.6 million, a decrease of 4.3% [4][10] - The agent count as of March 31, 2025, was 146,126, reflecting a 2.0% increase from 143,287 in the previous year, while the U.S. and Canada combined agent count decreased by 5.0% to 75,010 [3][10] Group 2: Revenue and Expenses - Recurring revenue streams, including franchise fees and annual dues, decreased by $2.2 million, or 5.5%, accounting for 66.8% of revenue excluding Marketing Funds in Q1 2025 [5] - Total operating expenses were $69.1 million, down 6.3% from $73.8 million in Q1 2024, primarily due to lower selling, operating, and administrative expenses [6][10] Group 3: Adjusted Metrics - Adjusted EBITDA for Q1 2025 was $19.3 million, an increase of 1.5% from $18.993 million in Q1 2024, with an adjusted EBITDA margin of 25.9% compared to 24.3% in the prior year [11][30] - Adjusted basic and diluted EPS were both $0.24 for Q1 2025, up from $0.20 in Q1 2024 [12][33] Group 4: Balance Sheet and Cash Flow - As of March 31, 2025, the company had cash and cash equivalents of $89.1 million, a decrease of $7.5 million from December 31, 2024, with outstanding debt at $439.9 million [13][26] - Cash flow from operations for Q1 2025 was $5.661 million, down from $9.381 million in Q1 2024, with adjusted free cash flow at $(1.161) million compared to $4.543 million in the prior year [28][38] Group 5: Outlook - For Q2 2025, the company expects agent count to increase by 1.5% to 2.5% and revenue in the range of $70.0 million to $75.0 million, with adjusted EBITDA projected between $22.5 million and $25.5 million [20]
REMAX Canada Welcomes Don Kottick as New President
Prnewswire· 2025-04-24 18:00
Core Insights - Don Kottick has been appointed as the President of RE/MAX Canada, bringing over 30 years of experience in the Canadian real estate industry [1][2][3] - Kottick's leadership is expected to strengthen RE/MAX's position as a market leader in Canada, where the brand has over 25,000 agents in more than 970 offices across all provinces and territories [2][3] - RE/MAX is focusing on innovation and technology to enhance services for its affiliates and maintain its market dominance [3][5] Company Overview - RE/MAX is recognized as the 1 name in real estate, with a global presence in over 110 countries and territories [5][6] - The company has more than 145,000 agents operating in nearly 9,000 offices worldwide, making it the largest real estate brand by residential transaction sides [6][7] - The brand was founded in 1973 and has cultivated an entrepreneurial culture that allows agents and franchisees significant operational independence [7][8] Leadership and Strategy - Kottick's previous roles include Executive Vice President of Corporate Development at Peerage Realty Partners and President of Right At Home Realty, showcasing a strong background in corporate development and brokerage management [4] - His appointment is seen as a strategic move to build on RE/MAX's existing momentum and success in the Canadian market [3][4] - The company aims to continue expanding its presence and enhancing agent productivity through innovative practices [4][5]