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]

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]