Core Insights - RE/MAX Holdings reported total revenue of $72.8 million for Q2 2025, a decrease of 7.3% compared to Q2 2024, primarily due to a decline in U.S. agent count and lower Broker Fees revenue [4][10] - The company achieved an adjusted EBITDA of $26.3 million, down 6.4% year-over-year, with an adjusted EBITDA margin of 36.1% [11][10] - The total agent count increased by 2.5% to 147,073 agents, with a notable 11.5% increase in agents outside the U.S. and Canada [3][10] Revenue Performance - Total revenue for Q2 2025 was $72.8 million, down from $78.5 million in Q2 2024, reflecting a decrease of $5.7 million [4][10] - Revenue excluding Marketing Funds was $54.5 million, a decline of 6.8% year-over-year, attributed to a 5.7% decrease in organic revenue and 1.1% adverse foreign currency movements [4][10] - Recurring revenue streams, including franchise fees and annual dues, accounted for 67.3% of revenue excluding Marketing Funds, down from 65.9% in the prior year [5] Operating Expenses - Total operating expenses decreased to $58.7 million in Q2 2025, down 5.7% from $62.3 million in Q2 2024 [6][10] - Selling, operating, and administrative expenses were $33.9 million, representing 62.2% of revenue excluding Marketing Funds, compared to 59.7% in the prior year [7] Profitability Metrics - Net income attributable to RE/MAX Holdings was $4.7 million for Q2 2025, an increase from $3.7 million in Q2 2024 [8][10] - Basic and diluted GAAP earnings per share were both $0.23 for Q2 2025, compared to $0.20 and $0.19 in Q2 2024, respectively [8][10] - Adjusted earnings per diluted share were $0.39, down from $0.41 in the same quarter last year [12] Balance Sheet and Cash Flow - As of June 30, 2025, the company had cash and cash equivalents of $94.3 million, a decrease of $2.3 million from the end of 2024 [13] - Outstanding debt was $439.0 million, slightly down from $440.8 million at the end of 2024 [13] - Cash flow from operations for the first half of 2025 was $10.2 million, down from $25.3 million in the same period of 2024 [26] Outlook - For Q3 2025, RE/MAX Holdings expects revenue in the range of $71.0 million to $76.0 million and adjusted EBITDA between $23.5 million and $26.5 million [19] - The full-year 2025 revenue outlook has been adjusted to a range of $290.0 million to $296.0 million [19]

Core Viewpoint - RE/MAX Holdings, Inc. will release its financial results for Q2 2025 on July 29, 2025, and will host a conference call on July 30, 2025, at 8:30 a.m. Eastern Time [1][2]. Company Overview - RE/MAX Holdings, Inc. is a leading franchisor in the real estate industry, operating under the REMAX® brand globally and the Motto® Mortgage brand in the U.S. [4] - Founded in 1973, RE/MAX has grown to over 145,000 agents in nearly 9,000 offices across more than 110 countries and territories, making it the largest real estate seller by total residential transaction sides [4]. - Motto Mortgage, launched in 2016, is the first and only national mortgage brokerage franchise brand in the U.S., with over 220 offices in more than 40 states [4].

Core Viewpoint - Pineapple Financial Inc. has announced a public offering of 10,000,000 units at a price of $0.15 per unit, each unit consisting of one share of common stock and one warrant to purchase an additional share [1][2]. Group 1: Offering Details - The offering is expected to close on or about May 5, 2025, subject to customary closing conditions [2]. - D. Boral Capital LLC is acting as the Exclusive Placement Agent for the offering [2]. - The offering is conducted under the Company's registration statement on Form S-1, which was declared effective by the SEC on May 1, 2025 [3]. Group 2: Company Overview - Pineapple Financial Inc. is a leading Canadian mortgage technology and brokerage firm focused on enhancing the mortgage process for brokers, lenders, and clients [5]. - The company provides advanced tools, marketing automation, analytics, and proprietary technology aimed at simplifying the mortgage experience [5]. - Pineapple is committed to innovation and aims to set a new standard for excellence in the mortgage industry [5].

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]