The Real Brokerage(US:REAX)2025-08-07 12:00Financial Performance - The company's revenue for the three months ended June 30, 2025, was $540747 thousand, compared to $340778 thousand for the same period in 2024[194] - Gross profit for the three months ended June 30, 2025, was $47861 thousand, compared to $31868 thousand for the same period in 2024[194] - Net income attributable to the owners of the company for the three months ended June 30, 2025, was $1512 thousand, compared to a net loss of $1215 thousand for the same period in 2024[194] - Adjusted EBITDA for the Q2 2025 was $20043 thousand[199] Agent Network and Transactions - The company has grown agent count by over 7x since the end of 2021[26, 69] - Total agents reached 28034 by Q2 2025[109] - Closed transaction sides reached 49282 in Q2 2025[208] Operational Efficiency - Agent-to-full time brokerage employee ratio was 87:1 in Q2 2025[65] - Adjusted operating expenses have declined from 74% to 50% over the past two years[65] Agent Incentives and Technology - Agents receive 85% of gross commissions before reaching an annual cap of $12000 in the US and CAD $15000 in Canada[41, 130] - Real Wallet generated $247K in revenue in Q2 2025 and was used by ~3600 Real agents as of July 2025[76] Market Outlook - Real's Agent Optimism Index increased to 595 in June from 570 in May, with 38% of agents feeling more optimistic[164] - In June 2025, 48% of agents indicated their local market favored buyers[169]