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6-K 1 form6-k.htm

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 6-K

 

 

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

OF THE SECURITIES EXCHANGE ACT OF 1934

 

For the month of March 2025

 

Commission File Number: 001-40442

 

 

THE REAL BROKERAGE INC.

(Registrant)

 

 

701 Brickell Avenue, 17th Floor

Miami, Florida, 33131 USA

(Address of Principal Executive Offices)

 

 

Indicate by check mark whether the Registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

 

Form 20-F ☐   Form 40-F ☒

 

Indicate by check mark if the Registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ☐

 

Indicate by check mark if the Registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ☐

 

 

 

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

  THE REAL BROKERAGE INC.
  (Registrant)
     
Date March 6, 2025 By /s/ Tamir Poleg
    Tamir Poleg
    Chief Executive Officer

 

 

 

EXHIBIT INDEX

 

Exhibit

   Description of Exhibit
 
99.1    Press Release dated March 6, 2025 – The Real Brokerage Inc. Announces Fourth Quarter and Full Year 2024 Financial Results

 

 

 

EX-99.1 2 ex99-1.htm

 

Exhibit 99.1

 

The Real Brokerage Inc. Announces Fourth Quarter and Full Year 2024 Financial Results

 

TORONTO and NEW YORK, March 6, 2025 – The Real Brokerage Inc. (NASDAQ: REAX) (“Real” or the “Company”), a technology platform reshaping real estate for agents, home buyers, and sellers, announced today financial results for the fourth quarter and full year ended December 31, 2024.

 

“Real delivered record results in 2024, capping it off with another quarter of exceptional growth,” said Tamir Poleg, Real’s Chairman and Chief Executive Officer. “Our unwavering commitment to innovation and agent success continues to set us apart in the industry. From launching Real Wallet, our proprietary fintech platform, to rolling out AI-powered tools that enhance agent productivity, we’re building the future of real estate.”

 

“We continue to attract and empower top-performing agents at an industry-leading pace,” said Sharran Srivatsaa, President of Real. “Our proprietary technology, competitive economics, world-class resources, and collaborative culture are driving momentum, further cementing Real as the platform of choice for entrepreneurial agents.”

 

“Our strong fourth quarter and record full-year results reflect the power of our platform and our disciplined approach to growth,” said Michelle Ressler, Real’s Chief Financial Officer. “With our recent fee model changes now established, we’re ensuring we can continue investing in cutting-edge technology and agent support, while driving sustainable year over year improvements in our operating and financial performance.”

 

Q4 and Full Year 2024 Operational Highlights1

 

  The total value of completed real estate transactions reached $14.6 billion in the fourth quarter of 2024, an increase of 115% from $6.8 billion in the fourth quarter of 2023. For the full year 2024, the total value of completed real estate transactions reached $49.0 billion, an increase of 90% from $25.9 billion for the full year 2023.
     
  The total number of transactions closed was 35,370 in the fourth quarter of 2024, an increase of 99% from 17,749 in the fourth quarter of 2023. For the full year 2024, the total number of transactions closed was 120,601, an increase of 81% from 66,646 for the full year 2023.
     
  The total number of agents on the platform increased to 24,140 at the end of the fourth quarter of 2024, an increase of 77% from the fourth quarter of 2023. As of March 6, 2025, approximately 26,200 agents are now on the Real platform.

 

Q4 2024 Financial Highlights

 

  Revenue rose to $350.6 million in the fourth quarter of 2024, an increase of 93% from $181.3 million in the fourth quarter of 2023.
     
  Gross profit reached $30.0 million in the fourth quarter of 2024, an increase of 93% from $15.5 million in the third quarter of 2023.
     
  Net loss attributable to owners of the Company was $(6.6) million in the fourth quarter of 2024, compared to $(12.0) million in the fourth quarter of 2023.
     
  Adjusted EBITDA2 was $9.1 million in the fourth quarter of 2024. This compares to $8.5 million in the fourth quarter of 2023, which included the positive impact of a $6.2 million non-recurring stock based compensation balance sheet adjustment during the period. Excluding this impact, the comparable adjusted EBITDA in the fourth quarter of 2023 was $2.3 million.
     
  Operating expenses, which include General & Administrative, Marketing, and Research and Development expenses, totaled $36.4 million in the fourth quarter of 2024, a 36% increase from $26.8 million in the fourth quarter of 2023.

 

 

1 All dollar references are in U.S. dollars.

2 There are references to “Adjusted EBITDA” and “Adjusted Operating Expense” in this press release, which are non-GAAP measures. See accompanying note under the heading “Non-GAAP Measures” for an explanation of the composition of these non-GAAP measures.

 

1

 

  Revenue share expense, which is included in Marketing expenses, was $9.5 million in the fourth quarter of 2024, a 39% increase compared to $6.8 million in the fourth quarter of 2023.
     
  Adjusted operating expenses, which reflect operating expenses less revenue share expense, stock based compensation, depreciation, expenses related to the settlement of antitrust litigation, and other unique or non-cash expenses, were $20.0 million in the fourth quarter of 2024, an increase of 78% from $11.2 million in the fourth quarter of 2023.

 

  Adjusted operating expense per transaction was $565 in the fourth quarter of 2024, a decline of (11)% from $632 in the fourth quarter of 2023.

 

  Loss per share was $(0.03) in the fourth quarter of 2024, compared to a loss per share of $(0.07) in the fourth quarter of 2023.
     
  The Company repurchased 1.1 million common shares for $5.9 million in the fourth quarter of 2024, pursuant to its normal course issuer bid.

 

Full Year 2024 Financial Highlights

 

  Revenue for the full year 2024 was $1.26 billion, an increase of 84% from $689.2 million for the full year 2023.
     
  Gross profit for the full year 2024 rose to $114.7 million, an increase of 82% from $62.9 million for the full year 2023.
     
  Net loss attributable to owners of the Company for the full year 2024 was $(26.5) million, compared to a loss of $(27.5) million for the full year 2023.
     
  Adjusted EBITDA2 was $40.0 million for the full year 2024, compared to $13.9 million for the full year 2023, or $7.6 million excluding the impact of the non-recurring stock based compensation balance sheet adjustment recorded in 2023, which totaled $6.2 million.
     
  Operating expenses for the full year 2024 increased by 57% to $140.0 million, up from $88.9 million for the full year 2023.
     
  Revenue share expense, which is included in Marketing expenses, was $42.7 million for the full year 2024, a 53% increase from $27.9 million in 2023.
     
  Adjusted operating expense for the full year 2024 was $65.1 million, a 52% increase from $42.8 million in 2023.

 

  For the full year 2024 adjusted operating expense per transaction was $540, a (16)% improvement from $642 in 2023.

 

  Loss per share was $(0.14) for the full year 2024, compared to a $(0.15) loss per share in 2023.
     
  For the full year 2024 the Company repurchased 8.2 million shares for $36.3 million.
     
  As of December 31, 2024, Real held cash and cash equivalents of $32.8 million, consisting of $23.4 million of unrestricted cash and $9.4 million held in investments in financial assets.
     
  Real continues to have no debt.

 

2

 

Business Highlights and Recent Updates

 

  Real Wallet Expansion. During the fourth quarter of 2024, Real launched the Real Wallet, a financial technology platform that centralizes an agent’s access to certain Company-branded financial products. Real Wallet currently includes:

 

  Business checking accounts for select U.S. agents with Thread Bank, Member FDIC, including a Company-branded debit card.
     
  Credit lines for select Canadian agents, based on their earnings history with Real.

 

As of the end of February 2025:

 

  Approximately 2,500 Real agents are utilizing Real Wallet business checking accounts.
     
  The average deposit balance held in all Real Wallet checking accounts was approximately $7M.

 

Real Wallet represents a significant step in Real’s strategy to integrate fintech solutions into its platform, providing agents with greater financial flexibility.

 

  Business Model Adjustments. Beginning in April 2025 (for new agents) and in May 2025 (for existing agents), Real will implement several adjustments to its brokerage model.

 

  In the U.S., the Broker review, E&O insurance, and Transaction Processing fee, will be renamed the Compliance and Broker Review (“CBR”) Fee and increase from $30 to $40 per transaction.
     
  In Canada, a $40 CAD CBR Fee will be introduced, the annual cap will increase from $12,000 CAD to $15,000 CAD, post-cap transaction fees will rise from $275 CAD to $375 CAD, and Post-Elite transaction fees will increase from $129 CAD to $175 CAD.

 

These adjustments align Canadian fees more closely with U.S. fees and exchange rates. Additionally, in both the U.S. and Canada, the post-cap restricted share unit bonus for agents who participate in Real’s Agent Stock Purchase Plan will decrease from 20% to 15%, effective April 2025. These updates reflect Real’s ongoing commitment to investing in technology, support, and infrastructure to enhance agent services and long-term business sustainability.

 

The Company will discuss the fourth quarter and full year results on a conference call and live webcast today at 8:30 a.m. ET.

 

Conference Call Details:
     
Date:   Thursday, March 6, 2025
     
Time:   8:30 am ET
     
Dial-in Number:  

North American Toll Free: 888-506-0062

International: 973-528-0011

     
Access Code:   951707
     
Webcast:   https://www.webcaster4.com/Webcast/Page/2699/51907
     
Replay Information:
     
Replay Number:  

North American Toll Free: 877-481-4010

International: 919-882-2331

     
Access Code:   51907
     
Replay Link:   https://www.webcaster4.com/Webcast/Page/2699/51907

 

3

 

Non-GAAP Measures

 

This news release includes references to “Adjusted EBITDA”, and “Adjusted Operating Expense”, which are non-U.S. generally accepted accounting principles (“GAAP”) financial measures. Non-GAAP measures are not recognized measures under GAAP, do not have a standardized meaning prescribed by GAAP, and are therefore unlikely to be comparable to similar measures presented by other companies.

 

Adjusted EBITDA is used as an alternative to net income by removing major non-cash items, such as depreciation, amortization, interest, stock-based compensation, current and deferred income tax expenses and other items management considers unique and/or non-operating in nature.

 

Adjusted Operating Expense is used as an alternative to operating expenses by removing major non-cash items such as stock-based compensation, depreciation, and other unique or non-cash expenses, while retaining ongoing fixed operating expenses and excluding variable cash expenses associated with revenue share.

 

Adjusted EBITDA and Adjusted Operating Expense have no direct comparable GAAP financial measures. The Company has used or included these non-GAAP measures solely to provide investors with added insight into Real’s financial performance. Readers are cautioned that such non-GAAP measures may not be appropriate for any other purpose. Non-GAAP measures should not be considered in isolation or as a substitute for measures of performance prepared in accordance with GAAP. Our Adjusted EBITDA is reconciled to the most comparable GAAP measure for the three months and year ended December 31, 2024 and 2023 and is presented in the table below labeled Reconciliation of Net Loss to Adjusted EBITDA. Our Adjusted Operating Expense reconciled to the most comparable GAAP measure is presented for the three months ended December 31, 2024 and on a quarterly basis for the prior two fiscal years in the table below labeled Reconciliation of Operating Expense to Adjusted Operating Expense.

 

4

 

THE REAL BROKERAGE INC.

CONSOLIDATED BALANCE SHEETS

(Expressed in thousands of U.S. dollars)

 

    As of  
    December 31, 2024     December 31, 2023  
ASSETS                
CURRENT ASSETS                
Cash and cash equivalents   $ 23,376     $ 14,707  
Restricted cash     24,089       12,948  
Investments in financial assets     9,449       14,222  
Trade receivables     14,235       6,441  
Other receivables     117       63  
Prepaid expenses and deposits     1,645       2,132  
TOTAL CURRENT ASSETS     72,911       50,513  
NON-CURRENT ASSETS                
Intangible assets     2,575       3,442  
Goodwill     8,993       8,993  
Property and equipment     2,116       1,600  
TOTAL NON-CURRENT ASSETS     13,684       14,035  
TOTAL ASSETS     86,595       64,548  
                 
LIABILITIES AND EQUITY                
CURRENT LIABILITIES                
Accounts payable     1,374       571  
Accrued liabilities     25,939       13,374  
Customer deposits     24,089       12,948  
Other payables     3,050       302  
TOTAL CURRENT LIABILITIES     54,452       27,195  
NON-CURRENT LIABILITIES                
Warrants liability     -       269  
TOTAL NON-CURRENT LIABILITIES     -       269  
TOTAL LIABILITIES     54,452       27,464  
Commitments and contingencies     -       -  
                 
EQUITY                
EQUITY ATTRIBUTABLE TO OWNERS                
Common Shares, $0 par value, unlimited Common Shares authorized, 202,941 Shares issued and 202,499 outstanding (in thousands) at December 31, 2024; and 183,605 Shares issued and 183,430 outstanding (in thousands) at December 31, 2023     -       -  
Additional Paid in Capital     138,639       115,504  
Deficit     (104,746 )     (78,205 )
Accumulated other comprehensive income (loss)     708       (167 )
Treasury stock, at cost     (2,455 )     (257 )
EQUITY ATTRIBUTABLE TO OWNERS     32,146       36,875  
Non-controlling interests     (3 )     209  
TOTAL EQUITY     32,143       37,084  
TOTAL LIABILITIES AND EQUITY     86,595       64,548  

 

5

 

THE REAL BROKERAGE INC.

INTERIM CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS

(Expressed in thousands of U.S. dollars, except for per share amounts)

 

    Three Months Ended December 31, (unaudited)     For the Year Ended  
    2024     2023     2024     2023  
Revenues   $ 350,630     $ 181,341     $ 1,264,639     $ 689,158  
Cost of Sales     320,645       165,810       1,149,898       626,285  
Gross Profit     29,985       15,531       114,741       62,873  
                                 
General and administrative expenses     18,632       15,387       61,084       42,913  
Marketing expenses     13,698       9,084       57,477       38,611  
Research and development expenses     4,042       2,325       12,156       7,359  
Settlement of litigation                 9,250        
Operating Expenses     36,372       26,796       139,967       88,883  
Operating Loss     (6,386 )     (11,265 )     (25,226 )     (26,010 )
                                 
Other income     115       (693 )     496       (587 )
Finance expenses, net     (434 )     (32 )     (1,723 )     (619 )
Net Loss     (6,705 )     (11,990 )     (26,453 )     (27,216 )
Net income attributable to noncontrolling interests     (62 )     (26 )     88       285  
Net Loss Attributable to the Owners of the Company     (6,643 )     (11,964 )     (26,541 )     (27,501 )
Other comprehensive income/(loss); Items that will be reclassified subsequently to profit or loss:                                
Unrealized gain on investments in financial assets     (16 )     116       81       330  
Foreign currency translation adjustment     529       (38 )     794       (28 )
Total Comprehensive Loss Attributable to Owners of the Company     (6,131 )     (11,886 )     (25,666 )     (27,199 )
Total Comprehensive Income Attributable to NCI     (62 )     (26 )     88       285  
Total Comprehensive Loss     (6,192 )     (11,912 )     (25,578 )     (26,914 )
Loss per share                                
Basic and diluted loss per share     (0.03 )     (0.07 )     (0.14 )     (0.15 )
Weighted-average shares, basic and diluted     200,144       182,450       191,172       178,127  

 

6

 

THE REAL BROKERAGE INC.

INTERIM CONSOLIDATED STATEMENT OF CASH FLOWS

(U.S. dollar in thousands)

 

    Three Months Ended December 31, (unaudited)     For the Year Ended  
    2024     2023     2024     2023  
OPERATING ACTIVITIES                                
Net Loss   $ (6,705 )   $ (11,990 )   $ (26,453 )   $ (27,216 )
Adjustments for:                                
Depreciation and amortization     372       298       1,396       1,128  
Impairment of goodwill           723       -       723  
Equity-settled share-based payment     15,119       19,423       52,916       38,403  
Finance costs     338       (88 )     376       64  
Change in fair value of warrants liability     -       23       600       27  
Changes in operating asset and liabilities:                                
Contingent consideration     -       -       -       (600 )
Funds Held in Restricted Escrow Account     9,250       -       -       -  
Trade receivables     3,070       (3,902 )     (7,794 )     (4,894 )
Other receivables     (74 )     12       (54 )     11  
Prepaid expenses and deposits     746       (807 )     487       (1,603 )
Accounts payable     241       (82 )     803       97  
Accrued liabilities     (5,052 )     (4,316 )     12,565       7,752  
Customer deposits     (3,427 )     (3,385 )     11,141       5,467  
Other payables     (9,793 )     (1,770 )     2,748       (382 )
NET CASH PROVIDED BY OPERATING ACTIVITIES     4,085       (5,861 )     48,731       18,977  
                                 
INVESTING ACTIVITIES                                
Purchase of property and equipment     (81 )     (182 )     (1,045 )     (629 )
Purchase of financial assets     1,155       (81 )     (1,692 )     (6,847 )
Sale of financial assets     (220 )     2       6,546       847  
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES     854       (261 )     3,809       (6,629 )
                                 
FINANCING ACTIVITIES                                
Purchase of common shares for Restricted Share Unit (RSU) Plan     (5,947 )     (1,104 )     (36,283 )     (2,865 )
Payment of employee taxes on certain share-based arrangements     (1,355 )     (362 )     (2,832 )     (362 )
Proceeds from exercise of stock options     658       (90 )     6,275       502  
Distributions to non-controlling interest     (129 )     (36 )     (300 )     (339 )
NET CASH USED IN FINANCING ACTIVITIES     (6,774 )     (1,592 )     (33,140 )     (3,064 )
                                 
Net change in cash, cash equivalents and restricted cash     (1,835 )     (7,714 )     19,400       9,284  
Cash, cash equivalents and restricted cash, beginning of period     49,096       35,339       27,655       18,327  
Effect of foreign exchange rate changes on cash and cash equivalents     204       30       410       44  
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, ENDING BALANCE   $ 47,465     $ 27,655     $ 47,465     $ 27,655  

 

7

 

THE REAL BROKERAGE INC.

RECONCILIATION OF NET LOSS TO ADJUSTED EBITDA

(Expressed in thousands of U.S. dollars)

Unaudited

 

    For the Three Months Ended     For the Year Ended  
    December 31, 2024     December 31, 2023     December 31, 2024     December 31, 2023  
Net Loss     (6,705 )     (11,990 )     (26,453 )     (27,216 )
Add/(Deduct):                                
Finance Costs     169       (6 )     1,723       591  
Depreciation and Amortization     372       298       1,396       1,128  
Stock-Based Compensation     15,119       19,423       52,916       38,403  
Goodwill Impairment     -       723       -       723  
Restructuring Expenses     -       58       -       223  
Expenses related to Anti-Trust Litigation Settlement     118       -       10,377       -  
Adjusted EBITDA     9,073       8,506       39,959       13,852  
Non-recurring Stock-Based Compensation Adjustments     -       6,208       -       6,208  
Adjusted EBITDA Excluding Non-Recurring Stock Based Compensation Adjustment     9,073       2,298       39,959       7,644  

 

THE REAL BROKERAGE INC.

BREAKOUT OF REVENUE BY SEGMENT

(Expressed in thousands of U.S. dollars)

Unaudited

 

    For the Three Months Ended     For the Year Ended  
    December 31, 2024     December 31, 2023     December 31, 2024     December 31, 2023  
Main revenue streams                                
Commissions     348,083       180,417       1,255,799       684,873  
Title     1,338       480       4,788       2,990  
Mortgage Income     1,167       444       4,010       1,295  
Wallet     42             42        
Total Revenue     350,630       181,341       1,264,639       689,158  

 

8

 

THE REAL BROKERAGE INC.

RECONCILIATION OF OPERATING EXPENSE TO ADJUSTED OPERATING EXPENSE BY QUARTER

(Expressed in thousands of U.S. dollars)

Unaudited

 

    2023     2024  
    Q1     Q2     Q3     Q4     Q1     Q2     Q3     Q4  
Operating Expense     17,846       21,499       22,742       26,796       36,477       32,512       34,607       36,371  
Less: Revenue Share Expense     5,434       7,684       7,946       6,840       9,064       12,475       11,651       9,537  
Revenue Share Expense (% of revenue)     5.0 %     4.1 %     3.7 %     3.8 %     4.5 %     3.7 %     3.1 %     2.7 %
Less:                                                                
Stock-Based Compensation - Employees     1,019       1,214       285       6543       1,493       2,265       3,139       3,405  
Stock-Based Compensation - Agent     1,541       1,640       2,769       1,830       2,137       2,335       2,665       2,940  
Depreciation Expense     269       284       277       298       326       340       358       372  
Restructuring Expense     41       44       80       58                          
Expenses Related to Anti-Trust Litigation Settlement                             9,857       369       33       118  
Subtotal     2,870       3,182       3,411       8,729       13,813       5,309       6,195       6,835  
Adjusted Operating Expense1     9,542       10,633       11,385       11,227       13,600       14,728       16,761       19,998  
Adjusted Operating Expense (% of revenue)     8.8 %     5.7 %     5.3 %     6.2 %     6.8 %     4.3 %     4.5 %     5.7 %

 

1Adjusted operating expense excludes revenue share, stock-based compensation, depreciation and other non-recurring or non-cash expenses.

 

9

 

THE REAL BROKERAGE INC.

KEY PERFORMANCE METRICS BY QUARTER

(Dollar amounts expressed in U.S. dollars)

Unaudited

 

    2023     2024  
    Q1     Q2     Q3     Q4     Q1     Q2     Q3     Q4  
Transaction Data                                                                
Closed Transaction Sides     10,963       17,537       20,397       17,749       19,032       30,367       35,832       35,370  
Total Value of Home Side Transactions ($, billions)     4.0       7.0       8.1       6.8       7.5       12.6       14.4       14.6  
Median Home Sales Price ($, thousands)   $ 350     $ 369     $ 370     $ 355     $ 372     $ 384     $ 383     $ 380  
Agent Metrics                                                                
Total Agents     10,000       11,500       12,175       13,650       16,680       19,540       21,770       24,140  
Agent Churn Rate (%)     8.3       6.5       10.8       6.2       7.9       7.5       7.3       6.8  
Revenue Churn Rate (%)     4.3       3.8       4.5       4.9       1.9       1.6       2.0       1.8  
Headcount and Efficiency Metrics                                                                
Full-Time Employees     127       145       162       159       151       231       240       264  
Full-Time Employees, Excluding One Real Title and One Real Mortgage     88       102       120       118       117       142       155       178  
Headcount Efficiency Ratio     1:114       1:113       1:101       1:116       1:143       1:138       1:140       1:136  
Revenue Per Full Time Employee ($, thousands)   $ 1,226     $ 1,817     $ 1,789     $ 1,537     $ 1,716     $ 2,400     $ 2,403     $ 1,970  
Operating Expense Excluding Revenue Share ($, thousands)   $ 12,412     $ 13,815     $ 14,796     $ 19,956     $ 27,413     $ 20,037     $ 22,956     $ 26,835  
Operating Expense Per Transaction Excluding Revenue Share ($)   $ 1,132     $ 788     $ 725     $ 1,124     $ 1,440     $ 660     $ 641     $ 759  
Adjusted Operating Expense ($, thousands)   $ 9,542     $ 10,633     $ 11,385     $ 11,226     $ 13,600     $ 14,728     $ 16,761     $ 19,998  
Adjusted Operating Expense Per Transaction ($)   $ 870     $ 606     $ 558     $ 632     $ 715     $ 485     $ 468     $ 565  

 

1Defined as the ratio of full-time brokerage employees excluding One Real Title and One Real Mortgage employees to the number of agents on our platform.

 

2Reflects total company revenue divided by full-time brokerage employees (excludes One Real Title and One Real Mortgage employees).

 

3Adjusted operating expense excludes revenue share, stock-based compensation, depreciation and other non-recurring or non-cash expenses.

 

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Forward-Looking Information

 

This press release contains forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking information is often, but not always, identified by the use of words such as “seek”, “anticipate”, “believe”, “plan”, “estimate”, “expect”, “likely” and “intend” and statements that an event or result “may”, “will”, “should”, “could” or “might” occur or be achieved and other similar expressions. These statements reflect management’s current beliefs and are based on information currently available to management as at the date hereof. Forward-looking information in this press release includes, without limiting the foregoing, information relating to Real’s expectation regarding increasing the number of agents, revenue growth and profitability and the business, strategic plans of Real and expectations regarding Real Wallet, Leo CoPilot and Leo for Clients, including their anticipated features.

 

Forward-looking information is based on assumptions that may prove to be incorrect, including but not limited to Real’s business objectives, expected growth, results of operations, performance, business projects and opportunities and financial results. Real considers these assumptions to be reasonable in the circumstances. However, forward-looking information is subject to known and unknown risks, uncertainties and other factors that could cause actual results, performance or achievements to differ materially from those expressed or implied in the forward-looking information. Important factors that could cause such differences include, but are not limited to, slowdowns in real estate markets, economic and industry downturns, Real’s ability to attract new agents and retain current agents, Real’s inability to successfully launch new products and features, including Real Wallet, Leo CoPilot and Leo for Clients and those risk factors discussed under the heading “Risk Factors” in the Company’s Annual Information Form dated March 6, 2025, and “Risks and Uncertainties” in the Company’s Quarterly Management’s Discussion and Analysis for the period ended December 31, 2024, copies of which are available under the Company’s SEDAR+ profile at www.sedarplus.ca.

 

These factors should be carefully considered and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this press release are based upon what management believes to be reasonable assumptions, Real cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this press release, and Real assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.

 

About Real

 

Real (NASDAQ: REAX) is a real estate experience company working to make life’s most complex transaction simple. The fast-growing company combines essential real estate, mortgage and closing services with powerful technology to deliver a single seamless end-to-end consumer experience, guided by trusted agents. With a presence in all 50 states throughout the U.S. and Canada, Real supports over 26,000 agents who use its digital brokerage platform and tight-knit professional community to power their own forward-thinking businesses. Additional information can be found on its website at www.onereal.com.

 

The Real Brokerage is a real estate technology company and is not a bank. Banking services provided by Thread Bank, Member FDIC. The Real Wallet Visa debit card is issued by Thread Bank, Member FDIC, pursuant to a license from Visa U.S.A. Inc. and may be used anywhere Visa cards are accepted.

 

Contact Information

 

For additional information, please contact:

Ravi Jani

Vice President, Investor Relations and Financial Planning & Analysis

investors@therealbrokerage.com

908.280.2515

 

For media inquiries, please contact:

Elisabeth Warrick

Senior Director, Marketing, Communications & Brand

elisabeth@therealbrokerage.com

201.564.4221

 

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