REAX

MIAMI and DENVER, Aug. 20, 2026 /PRNewswire/ -- The Real Brokerage Inc. ("Real") (NASDAQ: REAX) and RE/MAX Holdings, Inc. ("RE/MAX Holdings") (NYSE: RMAX) today announced the preliminary results of elections made by RE/MAX Holdings stockholders regarding the form of merger consideration (the "Merger Consideration") to be received in connection with Real's proposed acquisition of RE/MAX Holdings (the "Proposed Transactions") pursuant to the companies' Arrangement Agreement and Plan of Merger, dated as of April 26, 2026, as amended on June 12, 2026 (the "Merger Agreement"). Completion of the Proposed Transactions, which is expected to take place on August 24, 2026, remains subject to specified closing conditions, including obtaining the final order of the Supreme Court of British Columbia approving the arrangement aspects of the Proposed Transactions. Pursuant to the Merger Agreement and as described in the election form and accompanying instructions distributed to RE/MAX Holdings stockholders beginning on July 20, 2026, as well as the joint proxy statement/prospectus and management information circular of Real and RE/MAX Holdings dated July 9, 2026, as supplemented on August 6, 2026 (the "Joint Proxy Statement/Prospectus and Circular"), upon the consummation of the Proposed Transactions, each issued and outstanding share of REMAX Class A common stock, par value $0.0001 per share (the "REMAX Class A Common Stock"), will be converted into the right to receive, at the election of the holder of such share, either: (i) a number of shares of common stock of Real REMAX Group Inc. (the "Real REMAX Common Stock") equal to 5.150 (to be adjusted prior to the effective time of the merger to reflect a 10-for-1 share consolidation of Real's common shares (the "Share Consolidation") by dividing 5.150 by 10) (the "Stock Election Consideration"), or (ii) $13.80 in cash, without interest (the "Cash Election Consideration"), subject in each case to proration such that the aggregate cash proceeds to be delivered to RE/MAX Holdings stockholders will be no less than $60 million and no greater than $80 million (the "Available Maximum Aggregate Cash Amount"), as determined pursuant to the election and allocation procedures set forth in the Merger Agreement. Pursuant to the Merger Agreement, in the case of any share of REMAX Class A Common Stock as to which the holder thereof does not properly make an election, such share is deemed to have elected to receive the Stock Election Consideration. Because the aggregate amount of cash elected by RE/MAX Holdings stockholders (the "Aggregate Cash Election Amount") exceeded the Available Maximum Aggregate Cash Amount, the Merger Agreement's proration provisions will apply. As a result, pursuant to the Merger Agreement, each share of REMAX Class A Common Stock for which a stock election was made (or deemed made) will be converted into the right to receive the Stock Election Consideration without adjustment, and each share of REMAX Class A Common Stock for which a cash election was made (a "Cash Electing Share") will be converted into the right to receive a combination of (a) an amount of cash equal to the quotient of (1) the Available Maximum Aggregate Cash Amount divided by (2) the total number of Cash Electing Shares, and (b) a number of shares of Real REMAX Common Stock equal to the product of (1) 0.5150, post-consolidation (the "Exchange Ratio"), multiplied by (2) one minus a fraction, the numerator of which is the Available Maximum Aggregate Cash Amount and the denominator of which is the Aggregate Cash Election Amount. Based on available information as of the election deadline of 5:00 p.m., New York City time, on August 18, 2026 (the "Election Deadline"), the preliminary Merger Consideration election results are as follows: Holders of 18,488,134 shares of REMAX Class A Common Stock elected to receive the Cash Election Consideration. Because the aggregate cash elected exceeded the Available Maximum Aggregate Cash Amount of $80 million, pursuant to the Merger Agreement's proration provisions, as described above, each Cash Electing Share will receive a combination of cash (expected to be approximately $4.33 per share) and Real REMAX Common Stock (expected to be approximately 0.3535 shares of Real REMAX Common Stock per share after giving effect to the Share Consolidation). All other shares of REMAX Class A Common Stock elected (or were deemed to have elected) to receive the Stock Election Consideration. Pursuant to the Merger Agreement, this amount includes RE/MAX Holdings stockholders who failed to properly make an election prior to the Election Deadline and, as a result, are deemed to have elected to receive the Stock Election Consideration, or 0.5150 shares of Real REMAX Common Stock per share after giving effect to the Share Consolidation. The foregoing Merger Consideration election results are preliminary only. After the final results of the election process are determined, the exact per share cash amount and number of shares of Real REMAX Common Stock to be received by holders who made a cash election will be calculated in accordance with the proration provisions of the Merger Agreement. No fractional shares of Real REMAX Common Stock will be issued in the mergers contemplated by the Merger Agreement, and holders of REMAX Class A Common Stock will receive cash in lieu of any fractional shares of Real REMAX Common Stock. Share Consolidation Real also announced today the anticipated effective date of the previously announced Share Consolidation, which will serve as the first step of the arrangement contemplated by the Merger Agreement under Division 5 of Part 9 of the Business Corporations Act (British Columbia). The Share Consolidation was previously approved as part of the arrangement by Real's securityholders at Real's special meeting held on August 14, 2026. As described in the Joint Proxy Statement/Prospectus and Circular, in connection with the closing of the Proposed Transactions, the issued and outstanding common shares of Real (the "Real Common Shares") will be consolidated on a 10-for-1 basis, such that each 10 outstanding Real Common Shares will be consolidated into one Real Common Share. Subject to and contingent upon satisfaction of specified closing conditions, including obtaining the final order of the Supreme Court of British Columbia approving the arrangement aspects of the Proposed Transactions, the Share Consolidation is expected to occur at 4:01 p.m., New York City time, on August 24, 2026. The Exchange Ratio will be adjusted, to 0.5150, to reflect the Share Consolidation prior to the effective time of the REMAX merger, as described above. No fractional shares will be issued in connection with the Share Consolidation; each fractional Real Common Share that is less than ½ of a Real Common Share will be cancelled without payment of any consideration and each fractional Real Common Share that is at least ½ of a Real Common Share will be changed into one whole Real Common Share. The number of Real options and Real restricted share units and the number of Real Common Shares available on exercise or vesting thereof will be divided by 10 (rounded down to the nearest whole number, to not less than one). Following the Share Consolidation, shareholders of Real will receive one share of Real REMAX Common Stock for each post-consolidation Real Common Share as part of the Proposed Transactions. Assuming the Proposed Transactions are completed on the timing described above, the shares of Real REMAX Group Inc. are expected to begin trading on the Nasdaq (under the symbol "REAX") under the new CUSIP 776105108 when markets open on August 25, 2026. Further details of the Share Consolidation and the Proposed Transactions are described in the Joint Proxy Statement/Prospectus and Circular. About Real Real (NASDAQ: REAX) is a real estate experience company working to make life's most complex transaction simpler. 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 U.S. states and across Canada, Real supports over 36,000 agents who use its digital brokerage platform and tight-knit professional community to power their own forward-thinking businesses. About RE/MAX Holdings, Inc. RE/MAX Holdings, Inc. (NYSE: RMAX) is one of the world's leading franchisors in the real estate industry, franchising real estate brokerages globally under the REMAX® brand, and mortgage brokerages within the U.S. under the Motto® Mortgage brand. REMAX was founded in 1973 by Dave and Gail Liniger, with an innovative, entrepreneurial culture affording its agents and franchisees the flexibility to operate their businesses with great independence. Now with more than 145,000 agents in nearly 8,500 offices and a presence in more than 120 countries and territories, nobody in the world sells more real estate than REMAX, as measured by total residential transaction sides. Dedicated to innovation and change in the real estate industry, RE/MAX Holdings launched Motto Franchising, LLC, a ground-breaking mortgage brokerage franchisor, in 2016. Motto Mortgage, the first and only national mortgage brokerage franchise brand in the U.S., has offices across more than 40 states. Forward-Looking Statements This press release contains "forward-looking statements" and "forward-looking information" within the meaning of applicable United States and Canadian securities laws, including Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended, and the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements/forward-looking information include all statements that do not relate solely to historical or current facts, and can generally be identified by the use of words such as "anticipate", "believe", "estimate", "expect", "intend", "plan", "potential", "project", and similar expressions or future or conditional verbs such as "could", "may", "should", "will" and "would". Such forward-looking statements/forward-looking information include, but are not limited to, statements regarding the anticipated benefits of the Proposed Transactions; the anticipated impact of the Proposed Transactions on the combined company's business and future financial and operating results, including the expected leverage of the combined company and the amount and timing of synergies from the Proposed Transactions; the completion of the Proposed Transactions and the expected timeline; and the ability to satisfy all closing conditions, including the receipt of required approvals for the Proposed Transactions. These statements inherently involve numerous risks, uncertainties, and assumptions that could cause actual results to differ materially from those projected in these statements, including statements about the consummation of the Proposed Transactions and the anticipated benefits thereof. Where, in any forward-looking statement, Real or RE/MAX Holdings express an expectation or belief as to future results or events, it is based on Real's and/or RE/MAX Holdings' current plans and expectations, expressed in good faith and believed to have a reasonable basis. However, neither Real nor RE/MAX Holdings can give any assurance that any such expectation or belief as to future results will be achieved or accomplished. Significant risk factors that may cause such a difference include, but are not limited to, Real's and RE/MAX Holdings' ability to consummate the Proposed Transactions on the expected timeline or at all; Real's and RE/MAX Holdings' ability to obtain the remaining necessary regulatory approvals, including the final order of the Supreme Court of British Columbia, in a timely manner and the risk that such approvals are not obtained or are obtained subject to conditions that are not anticipated; the risk that a condition of closing of the Proposed Transactions may not be satisfied or that the closing of the Proposed Transactions may not otherwise occur; the occurrence of any event, change or other circumstance or condition that could give rise to the termination of the Merger Agreement, including in circumstances requiring Real or RE/MAX Holdings to pay a termination fee; the diversion of management time on transaction-related issues; risks related to disruption from the Proposed Transactions, including disruption of management time from current plans and ongoing business operations due to the Proposed Transactions and integration matters; the risk that the Proposed Transactions and its announcement could have an adverse effect on Real's and RE/MAX Holdings' ability to retain agents, franchisees and personnel or that there could be potential adverse reactions or changes to business relationships resulting from the announcement or completion of the Proposed Transactions; unexpected costs, charges or expenses resulting from the Proposed Transactions; potential litigation relating to Real's and RE/MAX Holdings' expectations regarding revenue growth and profitability and the business, strategic plans of Real and RE/MAX Holdings and the Proposed Transactions that could be instituted against the parties to the Merger Agreement or their respective directors, managers or officers, including the effects of any outcomes related thereto; the ability of the combined company to achieve the synergies and other anticipated benefits expected from the Proposed Transactions or such synergies and other anticipated benefits taking longer to realize than anticipated; the ability of the combined company to achieve the expected leverage or such leverage taking longer to realize than anticipated; Real's ability to integrate RE/MAX Holdings promptly and effectively; anticipated tax treatment, unforeseen liabilities, future capital expenditures, economic performance, future prospects and business and management strategies for the management, expansion and growth of the combined company's operations; certain restrictions during the pendency of the Proposed Transactions that may impact Real's or RE/MAX Holdings' ability to pursue certain business opportunities or strategic transactions or otherwise operate their respective businesses; 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; Real's inability to scale while improving operating leverage, or inability to successfully execute its strategies, including its strategy related to HeyLeo; possible unfavorable results in legal proceedings; changes in laws, regulations or the regulatory environment affecting our business; disruption to our technology or cybersecurity incidents; and other risk factors detailed from time to time in Real's and RE/MAX Holdings' reports filed with the SEC, including Real's annual report on Form 40-F, reports on Form 6-K and other documents filed with the SEC, and RE/MAX Holdings' annual report on Form 10-K, quarterly reports on Form 10-Q, reports on Form 8-K and other documents filed with the SEC, copies of which are available at www.sec.gov, and Real's reports filed with Canadian securities regulators, including Real's audited annual financial statements and annual management's discussion and analysis for the financial year ended December 31, 2025, Annual Information Form dated March 4, 2026 and quarterly financial statements and quarterly management's discussion and analysis for the period ended June 30, 2026, copies of which are available under Real's SEDAR+ profile at www.sedarplus.ca, as well as documents that have been or will be filed, as applicable, with the SEC and Canadian securities regulators in connection with the Proposed Transactions. These risks, as well as other risks associated with the Proposed Transactions, are more fully discussed in the joint proxy statement/prospectus and management information circular of Real and RE/MAX Holdings dated July 9, 2026, as supplemented on August 6, 2026 (together the "Circular") and registration statement on Form S-4 filed with the SEC on June 12, 2026, as amended on July 7, 2026 (File No. 333-296768) (the "Registration Statement") that have been filed with the SEC and with the Canadian securities regulators, as applicable, in connection with the Proposed Transactions. While the list of factors presented here is, and the list of factors presented in the Circular and in the Registration Statement are, considered representative, no such list should be considered to be a complete statement of all potential risks and uncertainties. Unlisted factors may present significant additional obstacles to the realization of forward-looking statements/forward-looking information. You should not place undue reliance on any of these forward-looking statements/forward-looking information as they are not guarantees of future performance or outcomes; actual performance and outcomes, including, without limitation, Real's or RE/MAX Holdings' actual results of operations, financial condition and liquidity, and the development of new markets or market segments in which Real or RE/MAX Holdings operate, may differ materially from those made in or suggested by the forward-looking statements/forward-looking information contained in this press release. Neither Real nor RE/MAX Holdings assumes any obligation to publicly provide revisions or updates to any forward-looking statements/forward-looking information, whether as a result of new information, future developments or otherwise, should circumstances change, except as otherwise required by securities and other applicable laws. Neither future distribution of this press release nor the continued availability of this press release in archive form on Real's or RE/MAX Holdings' website should be deemed to constitute an update or re-affirmation of these statements as of any future date. View original content to download multimedia:https://www.prnewswire.com/news-releases/real-and-remax-holdings-announce-preliminary-results-for-election-of-form-of-merger-consideration-by-remax-stockholders-and-expected-timing-of-real-share-consolidation-302856860.html

The Real Brokerage delivered Q2 results that prompted a strong positive market reaction, with management crediting robust agent growth, continued share gains, and new technology rollouts as key drivers. CEO Tamir Poleg emphasized that, despite ongoing challenges in the broader housing market, Real's ability to attract high-performing agents and support them through its technology platform enabled the company to outperform industry transaction trends. The company also highlighted improved core profitability, underpinned by a growing pipeline of entrepreneurial agents and expansion of high-margin ancillary services, such as title and mortgage offerings. Management pointed to the successful beta launch of HeyLeo 2.0, its AI-driven relationship management platform for agents, as a meaningful contributor to enhanced agent productivity and client engagement this quarter. Is now the time to buy REAX? Find out in our full research report (it’s free). Revenue: $700.6 million vs analyst estimates of $654.4 million (29.6% year-on-year growth, 7.1% beat) EPS (GAAP): -$0.03 vs analyst estimates of $0.01 (significant miss) Adjusted EBITDA: $27.59 million vs analyst estimates of $24.24 million (3.9% margin, 13.8% beat) Operating Margin: 0.6%, in line with the same quarter last year Market Capitalization: $510.7 million While we enjoy listening to the management’s commentary, our favorite part of earnings calls is the analyst questions. Those are unscripted and can often highlight topics that management teams would rather avoid or topics where the answer is complicated. Here is what has caught our attention. Stephen Sheldon (William Blair) asked how the pending RE/MAX merger is affecting agent recruitment momentum. CEO Tamir Poleg responded that the deal announcement created additional tailwinds, with more agents and teams showing interest in joining Real. Sheldon (William Blair) also questioned the scalability of ancillary services like title and mortgage. Poleg indicated mortgage is gaining momentum, with revenue growth expected later in the year, and emphasized planned integration of these services into the HeyLeo platform. Naved Khan (B. Riley) inquired about HeyLeo's market coverage and momentum in ancillary product attach rates. Poleg explained that HeyLeo now covers about 90% of U.S. transactions and all of Canada, with especially high attach rates in certain joint ventures in Texas and other states. Valentin Alvar (JonesTrading) questioned the outlook for gross margin trends in the second half of the year. CFO Ravi Jani said margins may decline year-over-year in Q3, but fee model changes and ancillary growth should help stabilize margins by Q4. Nick McAndrew (Zelman) asked about headcount efficiency and how the RE/MAX transaction would affect hiring strategies. Jani and Poleg said recent hiring converted contractors to full-time roles, and that integration will focus on applying Real’s efficiency model to the combined business. In the coming quarters, the StockStory team will be monitoring (1) the pace and success of the RE/MAX integration, including realization of cost synergies; (2) continued agent recruitment and retention as a measure of competitive positioning; and (3) adoption and monetization of the HeyLeo AI platform and ancillary services. Progress on margin stabilization and execution of the new fee structure will also be key signposts for operational performance. The Real Brokerage currently trades at $2.31, up from $1.73 just before the earnings. Is there an opportunity in the stock? See for yourself in our full research report (it’s free for active Edge members). WHILE YOU’RE HERE: Top 9 Market-Beating Stocks. The best stocks don’t just beat the market once. They do it again. And again. Robust revenue growth, rising free cash flow, returns on capital that leave their competition in the dust. The market has already rewarded these businesses. But our AI platform says the party isn’t over. Find out which 9 stocks made the cut this week — FREE. Get Our Top 9 Market-Beating Stocks for Free HERE. Stocks that have made our list include now familiar names such as Nvidia (+1,460% between June 2020 and June 2025) as well as under-the-radar businesses like the once-small-cap company Exlservice (+271% between June 2020 and June 2025). Find your next big winner with StockStory today.

Interested in The Real Brokerage Inc.? Here are five stocks we like better. Real Brokerage’s second-quarter revenue rose 30% year over year to $700.6 million, while adjusted EBITDA increased 38% to $27.6 million. Closed transactions grew 27% to a record 62,380, and the agent base expanded 26% to approximately 35,350. Gross margin fell to 8.3% from 8.9%, partly because capped agents accounted for a larger share of transaction volume, while $11.6 million in RE/MAX acquisition costs contributed to a $7 million operating loss. Management expects seasonal third-quarter declines but sees fee changes and ancillary growth moderating margin pressure. Real is preparing for a proposed RE/MAX combination, with a security-holder vote scheduled for Aug. 14 and closing expected in the second half of 2026. Management is targeting approximately $30 million in annual cost synergies within three years, while ancillary services and the HeyLeo AI platform continue to expand. MarketBeat Week in Review – 04/27 - 05/01 Real Brokerage (NASDAQ:REAX) reported second-quarter revenue growth and higher adjusted EBITDA as the company continued to add agents and expand transaction volume in a challenging housing market, while preparing for a proposed combination with RE/MAX. Revenue for the quarter ended June 30, 2026, increased 30% year over year to $700.6 million. Adjusted EBITDA rose 38% to $27.6 million, while the company ended the quarter with $86.6 million in unrestricted cash and short-term investments, up from $49.9 million at the beginning of the year. → Meta’s Earnings Drop Shows Wall Street Wants More Than Ad Growth The $880M Bet to Survive Real Estate's Reset Chairman and CEO Tamir Poleg said the quarter could be the company’s final earnings report as a standalone business. A security holder vote on the RE/MAX transaction is scheduled for Aug. 14. Subject to approval and other closing conditions, Real expects the deal to close during the second half of 2026. Real recorded a 27% increase in closed transactions to a quarterly record of 62,380. The company said this growth was supported by a 1% improvement in average agent productivity and a 2% increase in average revenue per transaction. → 4 Oil and Gas ETF Plays as Prices Stay Sky-High The company ended the quarter with approximately 35,350 agents, a 26% increase from a year earlier. Chief Operating Officer Jenna Rozenblat said Real’s agent count had already exceeded 36,000 as of the earnings call, and management entered the second half with what it described as a strong recruiting pipeline. Poleg said recruiting activity improved after a slower start to the year in the first quarter. He said the announcement of the planned RE/MAX deal had created “tailwinds” from agents and teams considering joining Real, while the company remained focused on recruiting agents from outside the combined Real and RE/MAX networks. → Sandisk Just Delivered a Blowout Quarter—Here's Why the Stock Is Falling Chief Financial Officer Ravi Jani said U.S. transactions per average agent increased about 3%, while Canadian transactions per average agent declined 9%. He attributed the Canadian decline to difficult market conditions in the provinces where the company operates and challenging comparisons involving several high-producing agents in the prior year. Gross profit increased 22% year over year to $58.3 million. Gross margin, however, declined to 8.3% from 8.9% a year earlier. Jani said the decline primarily reflected a higher proportion of transaction volume from capped agents, whose post-cap transactions generate lower brokerage margins by design. Approximately 42% of closed transaction volume came from capped agents during the quarter, up 300 basis points from the prior-year period, according to Jani. He said the economics reflect the company’s strategy to retain its highest-producing agents. Operating expenses totaled $65.3 million, including $11.6 million of acquisition-related costs tied to the pending RE/MAX transaction. The company reported an operating loss of $7 million, compared with operating income of $1.7 million in the second quarter of 2025. Net loss was $8 million. Jani said that excluding acquisition-related costs, normalized operating income would have more than doubled from the prior year. Adjusted EBITDA margin expanded to 3.9% from 3.7%. For the third quarter, Real expects normal seasonal declines in revenue and adjusted EBITDA from second-quarter levels. The company also expects gross margin to be lower year over year in the third quarter, though Jani said the decline should not be of the same magnitude as in the second quarter. He said fee-model changes taking effect in September and growth in ancillary businesses should moderate the pressure, with fourth-quarter gross margin expected to be relatively flat year over year. Revenue from Real Wallet, One Real Title and One Real Mortgage increased a combined 28% year over year to $4.2 million. Wallet revenue grew 140%, title revenue increased 29%, and mortgage revenue rose 10%. Management said it sees increasing momentum in mortgage, with Poleg expecting improving revenue trends later in 2026 or early in 2027. On the title side, the company reported a 45% attach rate within joint ventures, while its companywide attach rate for eligible transactions was 3.24%, unchanged from the prior quarter. Real also discussed its HeyLeo artificial-intelligence platform. Rozenblat said the company recently beta-launched Leo 2.0, including direct integrations with major real estate customer relationship management systems. The product is intended to help agents engage and nurture leads within their existing databases. Poleg said more than 200 of the company’s successful agents and teams had connected their CRMs to the Leo 2.0 beta as of the call. He said the early feedback was positive and that the platform had helped agents identify opportunities among dormant leads. The company is also integrating mortgage and title workflows into Leo. Separately, Rozenblat said Real has invested in an internal AI automation team that has automated hundreds of workflows, which management estimates have saved thousands of hours of manual work. Rozenblat, who is serving as chief integration officer for the transaction, said Real has established an integration management office, identified leaders across major work streams and engaged third-party advisers to support planning and day-one readiness. The company reiterated its expectation of approximately $30 million in cost synergies within three years of closing. Jani said the companies generated roughly $160 million of combined adjusted EBITDA on a pro forma basis in 2025; adding the planned run-rate synergies would bring that figure to approximately $190 million. Poleg said Real intends to bring its operating efficiency practices to RE/MAX while preserving the franchise network’s local relationships and operating model. Following a closing, the company expects to use its November third-quarter earnings call to provide a combined-company baseline and preliminary 2027 guidance. Real Brokerage Inc is a publicly traded, cloud-based residential real estate brokerage headquartered in Toronto, Canada, with operations across the United States and Canada. The company’s platform offers licensed real estate professionals a fully integrated suite of digital tools designed to streamline every phase of the property transaction process, from lead generation to closing. Through its proprietary technology, Real Brokerage provides agents with transaction management, customer relationship management, digital marketing automation and real-time analytics in a single, user-friendly interface. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Real Brokerage Q2 Earnings Call Highlights" was originally published by MarketBeat. 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MIAMI, August 06, 2026--(BUSINESS WIRE)--The Real Brokerage Inc. (NASDAQ: REAX) ("Real" or the "Company"), a leading real estate technology platform redefining the industry through innovation and culture, announced today financial results for the second quarter ended June 30, 2026. "Real delivered another quarter of significant double-digit organic revenue growth and Adjusted EBITDA margin expansion, despite an overall housing market that remains near trough levels," said Tamir Poleg, Real’s Chairman and Chief Executive Officer. "We enter the second half of the year with a robust pipeline and continue to make meaningful progress toward closing our acquisition of RE/MAX Holdings Inc. ("REMAX"), with our securityholder meeting to approve the transaction scheduled for August 14, 2026. We look forward to bringing together REMAX's iconic global brand and network of over 140,000 agents with Real's technology platform as the Real REMAX Group, and to building the technology-enabled real estate platform of the future together." "Real’s agent count grew 26% year-over-year to 35,348 in the second quarter, and we continue to make progress rolling out AI enhancements across our technology platform to improve the agent experience, while driving growth across our higher-margin ancillary services. With integration planning under way we have high confidence in our ability to achieve $30 million of cost synergies within three years post-closing," said Jenna Rozenblat, Chief Operating Officer and Chief Integration Officer. "Real delivered another quarter of strong financial performance," said Ravi Jani, Chief Financial Officer. "Revenue grew 30% to $700.6 million, and GAAP net loss was $8.0 million, including approximately $11.6 million of acquisition costs related to the pending REMAX acquisition. On a non-GAAP basis, Adjusted EBITDA1 grew 38% to $27.6 million. We ended the quarter with $86.6 million in cash and no debt, providing us with significant financial flexibility as we work toward closing the REMAX acquisition." Q2 2026 Financial Highlights2 Revenue rose to $700.6 million in the second quarter of 2026, an increase of 30% from $540.7 million in the second quarter of 2025. Gross profit reached $58.3 million in the second quarter of 2026, an increase of 22% from $47.9 million in the second quarter of 2025. Operating expenses, consisting of general and administrative, marketing, research and development expenses, and acquisition costs totaled $65.3 million in the second quarter of 2026, a 41% increase from $46.2 million in the second quarter of 2025. Costs related to the Company's pending acquisition of RE/MAX Holdings, Inc. ("Acquisition Costs") for the three months ended June 30, 2026, were $11.6 million. Net loss was $(8.0) million for the three months ended June 30, 2026, compared to net income of $1.6 million for the three months ended June 30, 2025. Basic and diluted loss per share was $(0.03) in the second quarter of 2026, compared to basic and diluted earnings per share of $0.01 in the second quarter of 2025. Adjusted EBITDA was $27.6 million in the second quarter of 2026, compared to $20.0 million in the second quarter of 2025. Revenue share expense, which is included in Marketing expenses, totaled $22.2 million in the second quarter of 2026, a 26% increase compared to $17.6 million in the second quarter of 2025. Adjusted Operating Expense, which reflects operating expenses less revenue share expense, stock-based compensation, depreciation, and other unique or non-cash expenses, was $23.1 million in the second quarter of 2026, compared to $22.6 million in the second quarter of 2025. Adjusted Operating Expense Per Transaction was $371 in the second quarter of 2026, a decline of 19% from $459 in the second quarter of 2025. Cash provided by operating activities totaled $47.2 million during the second quarter of 2026. The Company ended the second quarter of 2026 with $86.6 million of unrestricted cash and equivalents and short-term investments on its balance sheet and no debt. Q2 2026 Business and Operational Highlights North American Brokerage One Real Title One Real Mortgage Real Wallet Corporate Update On April 26, 2026, the Company entered into a definitive agreement to acquire REMAX. Under the terms of the agreement, which has been approved by the boards of directors of both companies, Real formed a new holding company, expected to be renamed Real REMAX Group Inc., which is expected to trade on the Nasdaq Global Select Market under the symbol "REAX" following closing. The transaction is expected to close in the second half of 2026, subject to approval by the Company's securityholders and REMAX's shareholders, and satisfaction of specified closing conditions. The Company’s Special Meeting of Securityholders to approve the transaction will be held on August 14, 2026. As previously announced, the Company has already received HSR antitrust clearance for the transaction. On June 2, 2026, the Company announced it had expanded into New Brunswick, marking the Company’s sixth Canadian province. The Company will discuss the second quarter results on a conference call and live webcast today at 8:00 a.m. ET. Non-GAAP Measures and Ratios This news release includes references to "Adjusted EBITDA", "Adjusted Operating Expense", and "Operating Expense Excluding Revenue Share and Acquisition Costs", which are non-U.S. generally accepted accounting principles ("GAAP") financial measures. Non-GAAP measures, including non-GAAP ratios, 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 a supplemental non-GAAP financial measure that management uses to evaluate operating performance. Adjusted EBITDA is calculated as net income/(loss) before finance expenses, income tax expense, depreciation and amortization, intangible asset impairment expense, stock-based compensation, restructuring expenses, acquisition costs and expenses related to litigation settlements. Operating Expense Excluding Revenue Share and Acquisition Costs is used as an alternative to operating expenses by removing variable cash expenses associated with revenue share expenses, which is a component of marketing expenses, and acquisition costs related to the Company's pending acquisition of REMAX. 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, Adjusted Operating Expense, and Operating Expense Excluding Revenue Share and Acquisition Costs 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 and six months ended June 30, 2026, and 2025 and is presented in the table below labeled Reconciliation of Net Income (Loss) to Adjusted EBITDA. Our Adjusted Operating Expense and Operating Expense Excluding Revenue Share and Acquisition Costs reconciled to the most comparable GAAP measure is presented for the three and six months ended June 30, 2026, and on a quarterly basis for the prior two fiscal years in the table below labeled Reconciliation of Operating Expense to Adjusted Operating Expense by Quarter. This press release also includes non-GAAP ratios, which are financial measures disclosed in the form of a ratio, fraction, percentage, or similar representation and that has a non-GAAP financial measure as one or more of its components. Operating Expense per Transaction Excluding Revenue Share and Acquisition Costs is a ratio calculated as Operating Expense Excluding Revenue Share and Acquisition Costs, divided by the number of closed transaction sides. Adjusted Operating Expense per Transaction is a ratio calculated as Adjusted Operating Expense, divided by the number of closed transaction sides. Cautionary Disclosure Regarding Forward-Looking Statements This press release contains certain "forward-looking statements" and "forward-looking information" within the meaning of applicable United States and Canadian securities laws, including Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. Forward-looking statements/forward-looking information include all statements that do not relate solely to historical or current facts, and can generally be identified by the use of words such as "believe," "expect," "anticipate," "intend," "project," "estimate," "potential," "plan," and similar expressions or future or conditional verbs such as "will," "should," "would," "may" and "could." These forward-looking statements/forward-looking information include, but are not limited to, statements related to the expected benefits of the proposed transaction with REMAX; the anticipated impact of the proposed transaction on the combined company’s business and future financial and operating results, including the expected leverage of the combined company and the amount and timing of synergies from the proposed transaction; the completion of the transaction and the expected timeline; and the ability to satisfy all closing conditions, including the receipt of required approvals for the transaction. Forward-looking statements/forward-looking information inherently involve many risks and uncertainties that could cause actual results to differ materially from those projected in these statements, including statements about the consummation of the proposed transaction and the anticipated benefits thereof. Where, in any forward-looking statement, Real expresses an expectation or belief as to future results or events, it is based on Real’s current plans and expectations, expressed in good faith and believed to have a reasonable basis. However, Real cannot give any assurance that any such expectation or belief will result or will be achieved or accomplished. Important risk factors that may cause such a difference include, but are not limited to: Real’s ability to consummate the proposed transaction on the expected timeline or at all; Real’s ability to obtain the necessary regulatory approvals in a timely manner and the risk that such approvals are not obtained or are obtained subject to conditions that are not anticipated; Real’s or REMAX’s ability to obtain approval of their shareholders; the risk that a condition of closing of the proposed transaction may not be satisfied or that the closing of the proposed transaction might otherwise not occur; the occurrence of any event, change or other circumstance or condition that could give rise to the termination of the merger agreement, including in circumstances requiring Real to pay a termination fee; the diversion of management time on transaction-related issues; risks related to disruption from the proposed transaction, including disruption of management time from current plans and ongoing business operations due to the proposed transaction and integration matters; the risk that the proposed transaction and its announcement could have an adverse effect on Real’s ability to retain agents, franchisees and personnel or that there could be potential adverse reactions or changes to business relationships resulting from the announcement or completion of the proposed transaction; unexpected costs, charges or expenses resulting from the proposed transaction; potential litigation relating to Real’s expectations regarding revenue growth and profitability and the business, strategic plans of Real, or the proposed transaction that could be instituted against the parties to the merger agreement or their respective directors, managers or officers, including the effects of any outcomes related thereto; the ability of the combined company to achieve the synergies and other anticipated benefits expected from the proposed transaction or such synergies and other anticipated benefits taking longer to realize than anticipated; the ability of the combined company to achieve the expected leverage or such leverage taking longer to realize than anticipated; Real’s ability to integrate REMAX promptly and effectively; anticipated tax treatment, unforeseen liabilities, future capital expenditures, economic performance, future prospects and business and management strategies for the management, expansion and growth of the combined company’s operations; certain restrictions during the pendency of the proposed transaction that may impact Real’s or REMAX’s ability to pursue certain business opportunities or strategic transactions or otherwise operate their respective businesses; 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; Real’s inability to scale while improving operating leverage, or inability to successfully execute our strategies, including our strategy related to HeyLeo; possible unfavorable results in legal proceedings; changes in laws, regulations or the regulatory environment affecting our business; disruptions to our technology or cybersecurity incidents; and other risk factors detailed from time to time in Real’s and REMAX’s reports filed with the SEC and Real’s reports filed with Canadian securities regulators, including Real’s annual report on Form 40-F, current reports on Form 6-K and other documents filed with the SEC and Real’s audited annual financial statements and annual management’s discussion and analysis for the financial year ended December 31, 2025, Annual Information Form dated March 4, 2026 filed with Canadian securities regulators and Real’s Quarterly Management’s Discussion and Analysis for the period ended June 30, 2026, copies of which are available under the Company’s SEDAR+ profile at www.sedarplus.ca and documents that will be filed with the SEC and Canadian securities regulators in connection with the proposed transaction. These risks, as well as other risks associated with the proposed transaction, are more fully discussed in the proxy statement/prospectus that is included in the Registration Statement (as defined below) and the Real management information circular that was filed with the SEC and Canadian securities regulators, as applicable, in connection with the proposed transaction. While the list of factors presented here and in the Registration Statement and Real management information circular are considered representative, no such list should be considered to be a complete statement of all potential risks and uncertainties. Unlisted factors may present significant additional obstacles to the realization of forward-looking statements/forward-looking information. You should not place undue reliance on any of these forward-looking statements/forward-looking information as they are not guarantees of future performance or outcomes; actual performance and outcomes, including, without limitation, Real’s actual results of operations, financial condition and liquidity, and the development of new markets or market segments in which Real operates, may differ materially from those made in or suggested by the forward-looking statements/forward-looking information contained in this press release. Real does not assume any obligation to publicly provide revisions or updates to any forward-looking statements/forward-looking information, whether as a result of new information, future developments or otherwise, should circumstances change, except as otherwise required by securities and other applicable laws. Neither future distribution of this press release nor the continued availability of this press release in archive form on Real’s website should be deemed to constitute an update or re-affirmation of these statements as of any future date. Important Information and Where to Find It In connection with the proposed transaction between Real and REMAX, each of Real and REMAX has filed and will file relevant materials with the SEC and Canadian securities regulators, as applicable, including a management information circular of Real and a registration statement on Form S-4 filed with the SEC on June 12, 2026, as amended on July 7, 2026 (File No. 333-296768) (the "Registration Statement") that includes a proxy statement of REMAX and prospectus of Rome Wildlife, Inc. The Registration Statement was declared effective on July 9, 2026, at which time Real filed its management information circular, REMAX filed a definitive proxy statement and Rome Wildlife, Inc. filed a final prospectus. Real’s management information circular was mailed to securityholders of Real and the proxy statement/prospectus was mailed to shareholders of each of REMAX and Real, in each case seeking their respective approval of the proposed transaction and other related matters. This press release is not a substitute for the Registration Statement, the proxy statement/prospectus, the Real management information circular or any other document that Real or REMAX (as applicable) has filed with the SEC and Canadian securities regulators, as applicable, in connection with the proposed transaction. BEFORE MAKING ANY VOTING OR INVESTMENT DECISION, INVESTORS AND SECURITY HOLDERS OF REAL AND REMAX ARE URGED TO READ THE REGISTRATION STATEMENT, THE REAL MANAGEMENT INFORMATION CIRCULAR, THE PROXY STATEMENT/PROSPECTUS AND ANY OTHER RELEVANT DOCUMENTS THAT ARE FILED OR WILL BE FILED WITH THE SEC AND CANADIAN SECURITIES REGULATORS, AS APPLICABLE, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION AND RELATED MATTERS. Investors and security holders may obtain free copies of the Registration Statement, the Real management information circular and the proxy statement/prospectus, as well as other filings containing important information about Real or REMAX, without charge at the SEC’s Internet website (http://www.sec.gov) and under Real’s profile on SEDAR+ at www.sedarplus.ca, as applicable. Copies of the documents filed with the SEC and the Canadian securities regulators by Real are available free of charge on Real’s internet website at https://investors.onereal.com or by contacting Real’s investor relations contact at [email protected]. Copies of the documents filed with the SEC by REMAX are available free of charge on REMAX’s internet website at https://investors.remaxholdings.com or by contacting REMAX’s investor relations contact at [email protected]. The information included on, or accessible through, Real’s website or REMAX’s website is not incorporated by reference into this press release or Real’s and REMAX’s respective filings with the SEC and Canadian securities regulators, as applicable. Additional information regarding the expected executive officers, directors and board committees of Real REMAX Group Inc., and other supplemental disclosures to Real’s management information circular dated July 9, 2026 (the "Circular"), is included in the Company’s Quarterly Management’s Discussion and Analysis for the period ended June 30, 2026 (which is incorporated by reference into the Circular). Participants in the Solicitation Real, REMAX, their respective directors and certain of their respective executive officers may be deemed to be participants in the solicitation of proxies in respect of the proposed transaction. Information about the directors and executive officers of Real is set forth in its management information circular for its 2026 annual meeting of shareholders, which was filed with the Canadian securities regulators on April 24, 2026 (the "Real Annual Meeting Circular") and in its Form 6-K, which was filed with the SEC on April 24, 2026. Please refer to the sections captioned "Election of Directors," "Statement of Corporate Governance Practices," and "Compensation Discussion and Analysis" in the Real Annual Meeting Circular. To the extent holdings of such participants in Real’s securities have changed since the amounts described in the Real Annual Meeting Circular, such changes have been reflected on a Notice of Proposed Sale of Securities pursuant to Rule 144 under the U.S. Securities Act on Form 144 filed with the SEC and in insider reports filed with the Canadian securities regulators on SEDI at www.sedi.ca. Information about the directors and executive officers of REMAX is set forth in its Annual Report on Form 10-K for the fiscal year ended December 31, 2025, filed with the SEC on February 19, 2026, as amended by Amendment No. 1 on Form 10-K/A, filed with the SEC on April 30, 2026 (the "REMAX Annual Report"). Please refer to the sections captioned "Directors, Executive Officers and Corporate Governance," "Executive Compensation," "Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters," and "Certain Relationships and Related Transactions and Director Independence" in the REMAX Annual Report. To the extent holdings of such participants in REMAX’s securities have changed since the amounts described in the REMAX Annual Report, such changes have been reflected on Initial Statements of Beneficial Ownership on Form 3 or Statements of Change in Ownership on Form 4 filed with the SEC, which are available at https://www.sec.gov/edgar/browse/?CIK=1581091&owner=exclude under the tab "Ownership Disclosures." These documents can be obtained free of charge from the sources indicated above. Additional information regarding the participants in the proxy solicitations and a description of their direct or indirect interests, by security holdings or otherwise, are contained in the Registration Statement, the Real management information circular and the proxy statement/prospectus and the other relevant materials filed or to be filed with the SEC and Canadian securities regulators, as applicable, if and when they become available. No Offer or Solicitation This press release is for informational purposes only and is not intended to, and shall not, constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval, nor shall there be any offer, solicitation or sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the U.S. Securities Act and otherwise in accordance with applicable Canadian securities laws. 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 36,000 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 are 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. View source version on businesswire.com: https://www.businesswire.com/news/home/20260806567946/en/ Contacts For additional information, please contact:Loren IrwinDirector, Investor Relations and Financial [email protected] 908.280.2515For media inquiries, please contact:[email protected] 201.564.4221

This article first appeared on GuruFocus. Revenue: $700.6 million, up 30% year-over-year. Closed Transactions: Record 62,380, up 27% year-over-year. Average Agent Productivity: Up 1% year-over-year. Average Revenue per Transaction: Up 2% year-over-year. Ancillary Revenue: $4.2 million, up 28% year-over-year (Real Wallet up 140%, title up 29%, mortgage up 10%). Gross Profit: $58.3 million, up 22% year-over-year. Gross Margin: 8.3%, down from 8.9% in the prior year. Total Operating Expenses: $65.3 million, including $11.6 million in acquisition-related costs. Operating Loss: $7.0 million, compared with operating income of $1.7 million in Q2 2025. Net Loss: $8.0 million. Adjusted EBITDA: $27.6 million, up 38% year-over-year. Adjusted EBITDA Margin: 3.9%, up from 3.7% in the prior year. Cash and Short-Term Investments: Record $86.6 million, up from $49.9 million at the start of the year. Agent Count: Approximately 35,350 at quarter end, up 26% year-over-year; exceeded 36,000 as of the call date. Warning! GuruFocus has detected 4 Warning Signs with REAX. Is REAX fairly valued? Test your thesis with our free DCF calculator. Release Date: August 06, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Revenue increased 30% year-over-year to $700.6 million, with a 27% increase in closed transactions to a record 62,380, significantly outpacing the market. Adjusted EBITDA grew 38% to $27.6 million, with margin expansion to 3.9% from 3.7%. Record cash and short-term investments of $86.6 million, up from $49.9 million at the start of the year. Agent count reached over 36,000 as of the call, up 26% year-over-year, with a strong pipeline and large opportunities. Ancillary revenue (Real Wallet, Title, Mortgage) grew 28% year-over-year, with Wallet up 140% and title up 29%. Hey Leo 2.0 beta launched with CRM integrations, showing early positive feedback and revenue generation for agents. Integration with RE/MAX is on track, with $30 million in cost synergies expected within three years, and pro forma combined EBITDA of ~$190 million including synergies. Gross margin declined to 8.3% from 8.9% due to a higher mix of capped agents (42% of transactions, up 300 bps). Reported operating loss of $7 million due to $11.6 million in acquisition-related costs, versus operating income of $1.7 million in the prior year. Canadian market remains weak, with average transactions per agent down 9% year-over-year. Q3 expected to see sequential declines in revenue and adjusted EBITDA, with gross margin lower year-over-year. Ancillary services attach rates remain low (3.24% company-wide for title), and mortgage revenue growth is not yet reflected in financials. The pending RE/MAX transaction creates uncertainty, with the company potentially reporting as a standalone for the last time. Q: How is the pending merger with RE/MAX impacting the agent and team recruiting pipeline?A: Tamir Poleg, Chairman and CEO, noted that after a slower Q1, Q2 saw more robust agent additions with a stronger pipeline. The RE/MAX announcement has provided tailwinds, with agents and teams reaching out to join Real. The company is now over 36,000 agents, and Q3 has started strongly. The focus is on attracting agents from other brokerages while protecting the RE/MAX network and broker owner businesses, with several large opportunities in the pipeline. Q: What is the expected profit and free cash flow potential of the RE/MAX merger?A: Ravi Jani, CFO, stated that on a pro forma basis, the two companies generated approximately $160 million of combined adjusted EBITDA in 2025. Adding the $30 million of committed run-rate synergies brings that to roughly $190 million, which they view as a floor. There is a clear path to grow this further through revenue synergies, additional cost synergies, and organic growth, underpinning confidence in the deal's ability to drive higher profitability and durable free cash flow. Q: How should we think about the year-over-year trend in gross margin for the back half of the year?A: Ravi Jani, CFO, explained that the decline in gross margin was due to a shift in transaction mix towards post-cap agents. For Q3, they expect gross margin to be lower year-over-year, but not at the same magnitude as Q2. This is due to fee model changes effective in September and a pickup in ancillary businesses. For Q4, they expect gross margin to be relatively flat year-over-year. Q: What is the current status of the Leo AI platform rollout and what feedback have agents provided?A: Tamir Poleg, Chairman and CEO, reported that the Leo 2.0 beta version was rolled out two weeks ago, with over 200 of their most successful agents and teams already connecting their CRMs. The feedback has been overwhelmingly positive, with Leo successfully creating opportunities from dormant leads, engaging in conversations, showing listings, and generating revenue for agents. This is seen as a great starting point for monetizing the platform in multiple ways. Q: How are the U.S. and Canadian markets trending, and what is the outlook for ancillary services like mortgage and title?A: Ravi Jani, CFO, noted that the Canadian market has been weaker, with average transactions per agent down 9% in Canada versus a 3% increase in the U.S. On ancillary services, Tamir Poleg, CEO, highlighted strong momentum in mortgage, with top agents opting into the reoriginate program, expecting revenue to show this momentum later this year or early 2027. Title grew 30% year-over-year, and the integration of mortgage and title flows into Leo is expected to further drive ancillary revenue. Q: What drove the increase in headcount and the modestly lower headcount efficiency ratio this quarter?A: Ravi Jani, CFO, explained that the increase was due to converting contract roles to full-time employees, primarily in brokerage and compliance. This was P&L neutral and didn't impact operating costs. Jenna Rozenblat, COO, added that bringing these roles in-house increases commitment and improves delivery and interactions with agents. The bonus structure for these roles is also tied to driving attach rates for title and mortgage, creating alignment across the business. Q: As a RE/MAX franchise owner, how will combining the two companies create value for existing franchisees?A: Tamir Poleg, Chairman and CEO, stated that franchise owners are the backbone of the RE/MAX network. The combination will strengthen their value proposition by providing access to a modern technology platform, AI capabilities, and a broader suite of services. The Real platform can simplify the brokerage technology stack, reducing complexity and cost by replacing multiple third-party vendors. There are also opportunities for franchise owners to participate in ancillary services like mortgage and title, as well as Real's revenue share model. Q: What is one decision leadership made over the past year that shareholders probably didn't notice but will have a big long-term impact?A: Jenna Rozenblat, COO, highlighted the decision to invest aggressively in using AI to transform Real's own operations, not just for agents. They built an in-house AI automation team that has automated hundreds of workflows, saving thousands of hours of manual work. This has helped maintain one of the leanest operating cost structures in the industry while scaling, and is becoming how they build software, serve agents, and run the company. Q: How directly tied to the real estate market is the company's outlook, and is there a plan to grow profit without a real estate boom?A: Tamir Poleg, Chairman and CEO, acknowledged that the housing market affects transaction volumes but emphasized consistent growth through both good and challenging years. Despite the U.S. running nearly 20% below typical existing home sales, Real has grown organically by taking market share, attracting 5,000 to 10,000 productive agents per year, and increasing ancillary adoption. The strategy is not dependent on waiting for the market to improve, but on expanding share of the available market. Q: What is the current MLS coverage for Leo, and which ancillary service is seeing greater momentum?A: Tamir Poleg, Chairman and CEO, stated that Leo now covers close to 90% of transactions in the U.S. and all of Canada. On momentum, he feels more momentum on the mortgage side, though it hasn't yet manifested in revenue, expecting it to show in the next couple of quarters. On the title side, JV attach rates are at 45%, with some JVs like Texas at 67% and others between 67% and 80%, indicating high attach rates within JVs. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

MIAMI, July 29, 2026--(BUSINESS WIRE)--The Real Brokerage Inc. (NASDAQ: REAX), a leading real estate technology platform redefining the industry through innovation and culture, today announced the opening of its shareholder Q&A platform to be used for its upcoming conference call to discuss the financial results for the second quarter ended June 30, 2026. Real will hold the call at 8:00 a.m. ET on Thursday, August 6, 2026. Beginning today, any shareholder is invited to submit and upvote questions to management. To submit questions ahead of the conference call, please visit the Say Technologies portal at the link here. Shareholders using brokers that are integrated with Say can also participate directly through their investing app or broker’s website. The Q&A platform will remain open through Wednesday, August 5, 2026 at 8:00 a.m. ET. An audio-only webcast of the call may be accessed from the Investor Relations section of the company’s website at https://investors.onereal.com or by registering at the link here. A replay of the webcast will be available for one year. 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 more than 35,000 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. 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 of the date hereof. Forward-looking information in this press release includes, without limiting the foregoing, information relating to Real’s second quarter 2026 earnings call and the release of financial results. Forward-looking information is based on assumptions that may prove to be incorrect, including but not limited to expectations regarding 2026 market conditions. 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 and economic and industry downturns, and those risk factors discussed under the heading "Risk Factors'' in the Company’s Annual Information Form dated March 4, 2026, and "Risks and Uncertainties" in the Company’s Quarterly Management’s Discussion and Analysis for the period ended March 31, 2026, 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. View source version on businesswire.com: https://www.businesswire.com/news/home/20260729251131/en/ Contacts Investor inquiries:Loren IrwinDirector, Investor Relations and Financial [email protected] 908.280.2515 For media inquiries:[email protected] 201.564.4221

The end of an earnings season can be a great time to discover new stocks and assess how companies are handling the current business environment. Let’s take a look at how The Real Brokerage (NASDAQ:REAX) and the rest of the consumer discretionary - real estate services stocks fared in Q1. The Consumer Discretionary sector, by definition, is made up of companies selling non-essential goods and services. When economic conditions deteriorate or tastes shift, consumers can easily cut back or eliminate these purchases. For long-term investors with five-year holding periods, this creates a structural challenge: the sector is inherently hit-driven, with low switching costs and fickle customers. As a result, only a handful of companies can reliably grow demand and compound earnings over long periods, which is why our bar is high and High Quality ratings are rare. Real estate services companies provide brokerage, property management, appraisal, and advisory services, earning transaction-based commissions and recurring management fees. Tailwinds include long-term housing demand driven by demographic growth, technology platforms that expand market access, and commercial real estate complexity that sustains advisory needs. Headwinds are pronounced: rising interest rates directly suppress transaction volumes by reducing housing affordability and commercial deal activity. Commission-rate compression, driven by discount brokerages and regulatory changes, erodes per-transaction revenue. The industry is highly cyclical, with revenue swings amplified by leverage. PropTech (property technology) disruptors threaten traditional intermediary models. The 14 consumer discretionary - real estate services stocks we track reported a strong Q1. As a group, revenues beat analysts’ consensus estimates by 3.8% while next quarter’s revenue guidance was 6.7% below. In light of this news, share prices of the companies have held steady. On average, they are relatively unchanged since the latest earnings results. Founded in Toronto, Canada in 2014, The Real Brokerage (NASDAQ:REAX) is a technology-driven real estate brokerage firm combining a tech-centric model with an agent-centric philosophy. The Real Brokerage reported revenues of $465.6 million, up 31.5% year on year. This print fell short of analysts’ expectations by 3.4%. Overall, it was a mixed quarter for the company with a beat of analysts’ EPS estimates. “Real delivered another quarter of significant growth, with revenue increasing 32% year-over-year, demonstrating the continued strength of our platform and agent value proposition,” said Tamir Poleg, Chairman and Chief Executive Officer. Interestingly, the stock is up 4.5% since reporting and currently trades at $2.19. Is now the time to buy The Real Brokerage? Access our full analysis of the earnings results here, it’s free. Named after the eccentric business magnate and aviator whose legacy lives on in real estate development, Howard Hughes Holdings (NYSE:HHH) develops, owns, and manages master-planned communities and commercial properties across the United States. Howard Hughes Holdings reported revenues of $235.9 million, up 18.4% year on year, outperforming analysts’ expectations by 20.4%. The business had an incredible quarter with a beat of analysts’ EPS estimates. Howard Hughes Holdings delivered the biggest analyst estimate beat among its peers. The market seems happy with the results as the stock is up 13.6% since reporting. It currently trades at $72.16. Is now the time to buy Howard Hughes Holdings? Access our full analysis of the earnings results here, it’s free. Short for Real Estate Maximums, RE/MAX (NYSE:RMAX) operates a real estate franchise network spanning over 100 countries and territories. RE/MAX reported revenues of $70.23 million, down 5.7% year on year, falling short of analysts’ expectations by 2.7%. It was a disappointing quarter as it posted a significant miss of analysts’ EPS and EBITDA estimates. Interestingly, the stock is up 1.9% since the results and currently trades at $11.28. Read our full analysis of RE/MAX’s results here. Known for giving homeowners cash offers within 24 hours, Offerpad (NYSE:OPAD) operates a tech-enabled platform specializing in direct home buying and selling solutions. Offerpad reported revenues of $80.08 million, down 50.2% year on year. This print lagged analysts’ expectations by 7.2%. It was a softer quarter as it also recorded revenue guidance for next quarter missing analysts’ expectations and a miss of analysts’ EBITDA estimates. Offerpad had the weakest performance against analyst estimates, weakest guidance update, and slowest revenue growth in the group. The stock is down 34% since reporting and currently trades at $5.21. Read our full, actionable report on Offerpad here, it’s free. Founded in 1999 through the merger of Jones Lang Wootton and LaSalle Partners, JLL (NYSE:JLL) is a company specializing in real estate advisory and investment management services. JLL reported revenues of $6.39 billion, up 11.1% year on year. This result surpassed analysts’ expectations by 6.6%. It was a very strong quarter as it also logged a beat of analysts’ EPS and EBITDA estimates. The stock is flat since reporting and currently trades at $335.63. Read our full, actionable report on JLL here, it’s free. Over the past year, investors have been forced to repeatedly answer the same question: what is the market’s biggest risk? The answer has changed several times, and each shift has reshaped market leadership. Late in 2025 and early 2026, artificial intelligence became the market’s primary uncertainty. Investors questioned whether AI would erode software pricing power and weaken competitive moats as AI made it easier to replicate once-differentiated products. By the spring, technology took a back seat to geopolitics. The U.S. conflict with Iran briefly became the market’s dominant narrative, raising concerns about oil prices, inflation, and global growth. But as energy markets remained orderly and fears of a prolonged supply disruption faded, investors quickly turned their focus back to fundamentals. Want to invest in winners with rock-solid fundamentals? Check out our Top 5 Growth Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.

MIAMI, July 07, 2026--(BUSINESS WIRE)--The Real Brokerage Inc. (NASDAQ: REAX), a leading real estate technology platform redefining the industry through innovation and culture, will release its financial results for the second quarter ended June 30, 2026, on Thursday, August 6, 2026, before the market opens. The Company will hold a conference call to discuss operating and financial results for the quarter at 8:00 a.m. ET on Thursday, August 6, 2026. Investors wishing to join the live call can use the dial-in details provided below. An audio-only webcast of the call will be available on the Investor Relations section of the Company’s website at https://investors.onereal.com/ and can also be accessed directly through the link provided below. A replay will be available for one year. About Real Real (NASDAQ: REAX) is a real estate experience company working to make life’s most complex transaction simpler. 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 more than 35,000 agents who use its digital brokerage platform and tight-knit professional community to power their own forward-thinking businesses. Additional information can be found at www.onereal.com. 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 of the date hereof. Forward-looking information in this press release includes, without limiting the foregoing, information relating to Real’s second quarter 2026 earnings call and the release of financial results. 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 ability to successfully launch new products and features, including Real Wallet, and those risk factors discussed under the heading "Risk Factors" in the Company’s Annual Information Form dated March 4, 2026, and "Risks and Uncertainties" in the Company’s Quarterly Management’s Discussion and Analysis for the period ended March 31, 2026, 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. View source version on businesswire.com: https://www.businesswire.com/news/home/20260707791957/en/ Contacts For additional information, please contact:Loren IrwinDirector, Investor Relations and Financial [email protected] 908.280.2515 For media inquiries, please contact:[email protected] 201.564.4221

Interested in The Real Brokerage Inc.? Here are five stocks we like better. Real Brokerage posted strong Q1 growth, with revenue rising 32% year over year to $466 million and adjusted EBITDA increasing 80% to $14.9 million, despite a weak housing market. The company also improved its operating loss and ended the quarter with a record $62.9 million in cash and investments and no debt. Agent and ancillary business growth remained a key bright spot, as closed transactions rose 25% to nearly 42,000 and the agent count climbed to more than 33,900 by early May. Real highlighted rapid expansion in Real Wallet, One Real Title, and One Real Mortgage as additional growth drivers. The planned RE/MAX acquisition took center stage, with Real citing about $30 million in expected cost synergies and the potential to expand high-margin mortgage and title revenue across the combined network. Management expects the deal to close in the second half of the year, pending approvals and regulatory review. MarketBeat Week in Review – 04/27 - 05/01 Real Brokerage (NASDAQ:REAX) reported sharply higher first-quarter revenue and adjusted EBITDA, while management used much of its earnings call to outline the strategic rationale for its planned acquisition of RE/MAX Holdings, Inc. Chairman and Chief Executive Officer Tamir Poleg said Real generated revenue of $466 million for the quarter ended March 31, 2026, up 32% year over year, despite what he described as one of the softest housing markets in years. The company reported an operating loss of $3.4 million, an improvement of $1.8 million from the prior-year period, and adjusted EBITDA of $14.9 million, up 80%. → Insider Sales: Top AST SpaceMobile Insider Cuts Postion Over 30% The $880M Bet to Survive Real Estate's Reset Real ended the quarter with $62.9 million in unrestricted cash and investments, which Poleg said was a record for the company. Chief Financial Officer Ravi Jani said Real generated $23.3 million in operating cash flow during the quarter and continued to carry no debt. Poleg said U.S. existing home sales were “essentially flat at trough levels,” while Canadian home sales activity declined in the mid-to-high single digits. Against that backdrop, Real agents closed nearly 42,000 transactions, a 25% increase from the year-earlier quarter. → Light Speed Returns: Corning Cashes In on NVIDIA Growth The company ended the quarter with approximately 33,500 agents, and Poleg said that figure had grown to more than 33,900 as of May 6. He said the company’s ability to grow while improving retention in a difficult market demonstrated the value of Real’s platform for agents. Jani said consolidated revenue growth was led by Real’s North American brokerage segment. Gross profit increased 24% to $42.2 million, compared with $33.9 million a year earlier. Gross margin was 9.1%, down from 9.6% in the prior-year quarter, which Jani attributed primarily to transaction mix. Approximately 40% of closed transaction sides came from capped agents, up about 200 basis points year over year. → Years in the Making, AMD’s Upside Movement Has Just Begun Total operating expenses were $45.6 million, up 17% from $39.1 million a year earlier. As a percentage of revenue, operating expenses improved to 9.8% from 11.1%. Jani said operating expenses included about $300,000 related to the RE/MAX acquisition and that the second quarter is expected to show a more material increase in acquisition-related costs, which the company plans to disclose as non-recurring items. Management highlighted growth across Real’s ancillary businesses, including Real Wallet, One Real Title and One Real Mortgage. Poleg said Real Wallet revenue more than tripled year over year to $436,000. The platform now has 8,000 active agents, representing 23% of Real’s total agent base and 40% of agents who generate more than $150,000 in annual gross commissions. Weekly debit card spending has exceeded $1 million, deposit balances have grown to more than $25 million, and the company ended the quarter with about $9 million of credit extended to agents in Canada and the U.S. Poleg also said early data showed a link between Real Wallet adoption and lower agent churn. One Real Title revenue increased 22% in the quarter, which Poleg called the strongest quarterly growth since the first quarter of last year. The company operates 13 title joint ventures across 19 states and expects to open Colorado in the second quarter, bringing its state footprint to 20. During the analyst question-and-answer session, Poleg said some title joint ventures are seeing attachment rates of 40% to 50%, with a couple reaching as high as 80%. He said Real is opening the joint ventures first to the most productive teams and agents in each market. One Real Mortgage revenue increased 20% year over year. Poleg said Kate Gurevich, who joined as CEO of the mortgage business in January, is focused on aligning the loan officer base with Real’s agent footprint and improving the cost structure. The company is migrating to a new loan origination system in the second quarter, which Poleg said will reduce per-file costs. Real announced last week that it had entered into a definitive agreement to acquire RE/MAX Holdings in a transaction that implied an enterprise value for RE/MAX of approximately $880 million as of the announcement date. Poleg said the combination would unite RE/MAX’s brand recognition, global franchise network and high-producing agent base with Real’s technology platform and agent-aligned model. He said Real and RE/MAX would continue to operate as separate brands with distinct value propositions. “If you are a RE/MAX agent who thrives working in office side by side with your broker owner and your team, that is not changing,” Poleg said. He added that Real agents would also continue to have the same flexibility and benefits under the company’s existing model. Based on 2025 results, Poleg said RE/MAX generated approximately $94 million of high-margin adjusted EBITDA, mostly from recurring franchise fees. He said the transaction value represented roughly 9 times trailing adjusted EBITDA, or about 7 times after expected synergies. Management said the combined Real and RE/MAX networks closed more than 700,000 transaction sides in the U.S. in 2025. Poleg said a 1% attachment rate for One Real Mortgage across that addressable transaction base would generate approximately $25 million of high-margin revenue for the combined company after closing. A 1% title attachment rate would generate more than $10 million of revenue, he said. Real is targeting $30 million of cost synergies from what Poleg described as visible duplicative costs, including two public company cost structures, shared services and vendor contracts. Jani said the company underwrote the transaction based on that $30 million figure, while noting that additional opportunities could emerge after the businesses are combined. In response to a shareholder question, Jani said Real’s first capital allocation priority after the close would be deleveraging. He said the company expects to reach 2 times net debt to adjusted EBITDA by the end of the second full fiscal year following the close. Chief Operating Officer Jenna Rozenblat said Real beta launched HeyLeo, its consumer home search portal and AI relationship management platform, to agents in March. The platform has ingested 357 MLSs and is on track to exceed 400 by the end of the second quarter, with full Canadian coverage already live. Rozenblat said HeyLeo covers more than 85% of Real agents’ geographic distribution. Rozenblat said 450 agents are currently in the beta test, with another 4,500 on the wait list. Early use cases include re-engaging dormant leads and helping agents nurture buyer conversations involving property details, neighborhoods, schools and ownership costs. Rozenblat has taken on the role of chief integration officer for the combined company. She said Real’s experience building reZEN, deploying Leo AI and automating brokerage workflows would be directly transferable to RE/MAX franchisees. The company also appointed Jason Cassity as chief growth officer in March. Rozenblat said Cassity will oversee agent acquisition, activation and engagement strategy across markets. Jani said Real does not provide formal guidance, but expects second-quarter revenue to improve sequentially in line with normal seasonal housing patterns. He said gross margin is expected to decline through the year as more agents reach their annual commission cap, consistent with the company’s model. Asked about the gross margin trajectory, Jani said the second-quarter year-over-year decline would likely be similar to the first quarter, while the second half of the year could be more flattish on a year-over-year basis. He said a stronger housing market could support gross profit by increasing the share of transactions from pre-cap agents, and ancillary services could also provide a tailwind because they carry higher margins than brokerage revenue. Poleg said Real expects to file the necessary documents for the RE/MAX transaction in the coming weeks. The deal requires shareholder approvals from both companies and standard regulatory clearances. Management is targeting a closing in the second half of the year. Poleg said the company’s three priorities ahead of closing are retaining agents and franchisees, ensuring operational stability on day one and delivering the targeted synergies. He said the goal is for agents and franchisees on both sides to “wake up and find their businesses running exactly as they were the day before” the transaction closes. Real Brokerage Inc is a publicly traded, cloud-based residential real estate brokerage headquartered in Toronto, Canada, with operations across the United States and Canada. The company’s platform offers licensed real estate professionals a fully integrated suite of digital tools designed to streamline every phase of the property transaction process, from lead generation to closing. Through its proprietary technology, Real Brokerage provides agents with transaction management, customer relationship management, digital marketing automation and real-time analytics in a single, user-friendly interface. The article "Real Brokerage Q1 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for May 2026.

MIAMI, May 07, 2026--(BUSINESS WIRE)--The Real Brokerage Inc. (NASDAQ: REAX) ("Real" or the "Company"), a leading real estate technology platform redefining the industry through innovation and culture, announced today financial results for the first quarter ended March 31, 2026. "Real delivered another quarter of significant growth, with revenue increasing 32% year-over-year, demonstrating the continued strength of our platform and agent value proposition," said Tamir Poleg, Chairman and Chief Executive Officer. "The agreement to acquire RE/MAX Holdings Inc. ("REMAX") represents a defining moment in our history and in our industry - by combining Real's technology-driven brokerage with one of the industry’s most iconic and trusted brands we will create the preeminent real estate platform of the future." "Q1 tells a compelling story about the breadth of what we are building - both agent count and transaction count increased 25%, while all three ancillary businesses each posted strong revenue growth, validating that agents and their clients are adopting the full Real ecosystem," said Jenna Rozenblat, Chief Operating Officer. "The platform is working, and the combination with REMAX provides a step-change in the scale through which we can deliver it." "Revenue and gross profit each grew faster than operating expenses, driving a meaningful improvement in net loss year-over-year and an 80% increase in Adjusted EBITDA to $14.9 million, a strong result in what is historically our seasonally lowest revenue quarter," said Ravi Jani, Chief Financial Officer. "We ended the quarter with $62.9 million in unrestricted cash and no debt, and entered the spring selling season with solid momentum. We remain confident the REMAX transaction will create compelling value for our agents, franchisees, consumers, and shareholders." Q1 2026 Financial Highlights1 Revenue rose to $465.6 million in the first quarter of 2026, an increase of 32% from $354.0 million in the first quarter of 2025. Gross profit reached $42.2 million in the first quarter of 2026, an increase of 24% from $33.9 million in the first quarter of 2025. Operating expenses totaled $45.6 million in the first quarter of 2026, a 17% increase from $39.1 million in the first quarter of 2025. Net loss attributable to owners of the Company improved to $(3.4) million in the first quarter of 2026, compared to $(5.0) million in the first quarter of 2025. Basic and diluted loss per share was $(0.02) in the first quarter of 2026, consistent with $(0.02) in the first quarter of 2025. Adjusted EBITDA2 was $14.9 million in the first quarter of 2026, compared to $8.3 million in the first quarter of 2025. Revenue share expense, which is included in Marketing expenses, totaled $15.7 million in the first quarter of 2026, a 25% increase compared to $12.5 million in the first quarter of 2025. Adjusted operating expenses, which reflect operating expenses less revenue share expense, stock-based compensation, depreciation, and other unique or non-cash expenses, were $21.3 million in the first quarter of 2026, compared to $21.2 million in the first quarter of 2025. Adjusted operating expense per transaction was $508 in the first quarter of 2026, a decline of 19% from $631 in the first quarter of 2025. Cash provided by operating activities totaled $23.3 million during the first quarter of 2026. The Company ended the first quarter of 2026 with $62.9 million of unrestricted cash and equivalents and short-term investments on its balance sheet and no debt. Q1 2026 Business and Operational Highlights North American Brokerage North American Brokerage revenue rose to $462.6 million in the first quarter of 2026, an increase of 32% from $351.7 million in the first quarter of 2025. The total number of agents increased to 33,510 at the end of the first quarter of 2026, a 25% increase from the first quarter of 2025. The total number of transactions closed was 41,882 in the first quarter of 2026, an increase of 25% from 33,617 in the first quarter of 2025. The total value of completed real estate transactions reached $16.8 billion in the first quarter of 2026, an increase of 24% from $13.5 billion in the first quarter of 2025. As of May 6, 2026, over 33,900 agents are now on the Real platform. One Real Title One Real Title revenue was $1.3 million in the first quarter of 2026, a 22% increase compared to $1.0 million in the first quarter of 2025. Title results reflect the ongoing transition from legacy team-based joint ventures to state-based joint ventures. One Real Mortgage One Real Mortgage revenue reached $1.3 million in the first quarter of 2026, a 20% increase compared to $1.1 million in the first quarter of 2025. As of May 2026, One Real Mortgage had 134 mortgage loan officers, including 99 affiliated with the Real Originate program. Real Wallet Real Wallet revenue totaled $436 thousand in the first quarter of 2026, a 246% increase compared to $126 thousand in the first quarter of 2025. As of May 2026: More than 8,000 Real agents were utilizing Real Wallet Business Checking Accounts, including over 1,500 Real Wallet Tax Planning Business Checking Accounts. The total deposit balance held in all Real Wallet Business Checking and Tax Planning accounts was approximately $25.3 million. The total balance of credit outstanding was $9.3 million. Real Wallet is a financial technology platform that centralizes an agent’s access to certain Company-branded financial products. Real Wallet currently includes: (i) Business Checking Accounts for eligible U.S. agents with Thread Bank, Member FDIC, including a Company-branded debit card; and (ii) credit lines for eligible agents in certain U.S. states and Canadian provinces, based on their earnings history with Real. Corporate Update On April 26, 2026, the Company entered into a definitive agreement to acquire RE/MAX Holdings, Inc., the parent company of RE/MAX, LLC. Under the terms of the agreement, which has been approved by the boards of directors of both companies, the parties will form a new holding company called Real REMAX Group. On March 9, 2026, the Company announced the appointment of Jason Cassity as Chief Growth Officer. Jason previously spent 13 years as a top-producing Realtor and team leader in San Diego, and has also served as a Growth Ambassador for the Company. The Company will discuss the first quarter results on a conference call and live webcast today at 8:00 a.m. ET. Non-GAAP Measures and Ratios This news release includes references to "Adjusted EBITDA", "Adjusted Operating Expense", and "Operating Expense Excluding Revenue Share", which are non-U.S. generally accepted accounting principles ("GAAP") financial measures. Non-GAAP measures, including non-GAAP ratios, 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 a supplemental non-GAAP financial measure that management uses to evaluate operating performance. Adjusted EBITDA is calculated as net income/(loss) before finance expenses, income tax expense, depreciation and amortization, intangible asset impairment expense, stock-based compensation, restructuring expenses, acquisition costs and expenses related to litigation settlements. Operating Expense Excluding Revenue Share is used as an alternative to operating expenses by removing variable cash expenses associated with revenue share expenses, which is a component of marketing expenses. 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, Adjusted Operating Expense and Operating Expense Excluding Revenue Share 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 ended March 31, 2026 and 2025 and is presented in the table below labeled Reconciliation of Net Loss to Adjusted EBITDA. Our Adjusted Operating Expense and Operating Expense Excluding Revenue Share reconciled to the most comparable GAAP measure is presented for the three months ended March 31, 2026 and on a quarterly basis for the prior two fiscal years in the table below labeled Reconciliation of Operating Expense to Adjusted Operating Expense by Quarter. This press release also includes non-GAAP financial measure ratios, which are financial measures disclosed in the form of a ratio, fraction, percentage, or similar representation and that has a non-GAAP financial measure as one or more of its components. Operating Expense Excluding Revenue Share per Transaction is a ratio calculated as Operating Expense Excluding Revenue Share, divided by the number of closed transaction sides. Adjusted Operating Expense per Transaction is a ratio calculated as Adjusted Operating Expense, divided by the number of closed transaction sides. Cautionary Disclosure Regarding Forward-Looking Statements This press release contains certain "forward-looking statements" and "forward-looking information" within the meaning of applicable United States and Canadian securities laws, including Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. Forward-looking statements/forward-looking information include all statements that do not relate solely to historical or current facts, and can generally be identified by the use of words such as "believe," "expect," "anticipate," "intend," "project," "estimate," "potential," "plan," and similar expressions or future or conditional verbs such as "will," "should," "would," "may" and "could." These forward-looking statements/forward-looking information include, but are not limited to, statements related to the expected benefits of the proposed transaction; the anticipated impact of the proposed transaction on the combined company’s business and future financial and operating results, including the expected leverage of the combined company and the amount and timing of synergies from the proposed transaction; the completion of the transaction and the expected timeline; and the ability to satisfy all closing conditions, including the receipt of required approvals for the transaction. Forward-looking statements/forward-looking information inherently involve many risks and uncertainties that could cause actual results to differ materially from those projected in these statements, including statements about the consummation of the proposed transaction and the anticipated benefits thereof. Where, in any forward-looking statement, The Real Brokerage Inc. ("Real") expresses an expectation or belief as to future results or events, it is based on Real and/or RE/MAX Holdings’ current plans and expectations, expressed in good faith and believed to have a reasonable basis. However, Real cannot give any assurance that any such expectation or belief will result or will be achieved or accomplished. Important risk factors that may cause such a difference include, but are not limited to: Real’s ability to consummate the proposed transaction on the expected timeline or at all; Real’s ability to obtain the necessary regulatory approvals in a timely manner and the risk that such approvals are not obtained or are obtained subject to conditions that are not anticipated; Real’s or RE/MAX Holdings’ ability to obtain approval of their shareholders; the risk that a condition of closing of the proposed transaction may not be satisfied or that the closing of the proposed transaction might otherwise not occur; the occurrence of any event, change or other circumstance or condition that could give rise to the termination of the merger agreement, including in circumstances requiring Real to pay a termination fee; the diversion of management time on transaction-related issues; risks related to disruption from the proposed transaction, including disruption of management time from current plans and ongoing business operations due to the proposed transaction and integration matters; the risk that the proposed transaction and its announcement could have an adverse effect on Real’s ability to retain agents, franchisees and personnel or that there could be potential adverse reactions or changes to business relationships resulting from the announcement or completion of the proposed transaction; unexpected costs, charges or expenses resulting from the proposed transaction; potential litigation relating to Real’s expectation regarding revenue growth and profitability and the business, strategic plans of Real, the proposed transaction that could be instituted against the parties to the merger agreement or their respective directors, managers or officers, including the effects of any outcomes related thereto; the ability of the combined company to achieve the synergies and other anticipated benefits expected from the proposed transaction or such synergies and other anticipated benefits taking longer to realize than anticipated; the ability of the combined company to achieve the expected leverage or such leverage taking longer to realize than anticipated; Real’s ability to integrate RE/MAX Holdings promptly and effectively; anticipated tax treatment, unforeseen liabilities, future capital expenditures, economic performance, future prospects and business and management strategies for the management, expansion and growth of the combined company’s operations; certain restrictions during the pendency of the proposed transaction that may impact Real’s or RE/MAX Holdings’ ability to pursue certain business opportunities or strategic transactions or otherwise operate their respective businesses; 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; Real’s inability to scale while improving operating leverage, or inability to successfully execute our strategies, including our strategy related to HeyLeo; possible unfavorable results in legal proceedings; changes in laws, regulations or the regulatory environment affecting our business; disruptions to our technology or cybersecurity incidents; and other risk factors detailed from time to time in Real’s and RE/MAX Holdings’ reports filed with the SEC and Real’s reports filed with Canadian securities regulators, including Real’s annual report on Form 40-F, current reports on Form 6-K and other documents filed with the SEC and Real’s audited annual financial statements and annual management’s discussion and analysis for the financial year ended December 31, 2025, Annual Information Form dated March 4, 2026 filed with Canadian securities regulators, Real’s Company’s Quarterly Management’s Discussion and Analysis for the period ended March 31, 2026, copies of which are available under the Company’s SEDAR+ profile at www.sedarplus.ca and documents that will be filed with the SEC and Canadian securities regulators in connection with the proposed transaction. These risks, as well as other risks associated with the proposed transaction, will be more fully discussed in the proxy statement/prospectus that will be included in the Registration Statement and the Real management information circular that will each be filed with the SEC and Canadian securities regulators, as applicable, in connection with the proposed transaction. While the list of factors presented here is, and the list of factors to be presented in the Registration Statement will be, considered representative, no such list should be considered to be a complete statement of all potential risks and uncertainties. Unlisted factors may present significant additional obstacles to the realization of forward-looking statements/forward-looking information. You should not place undue reliance on any of these forward-looking statements/forward-looking information as they are not guarantees of future performance or outcomes; actual performance and outcomes, including, without limitation, Real’s or RE/MAX Holdings’ actual results of operations, financial condition and liquidity, and the development of new markets or market segments in which Real or RE/MAX Holdings operate, may differ materially from those made in or suggested by the forward-looking statements/forward-looking information contained in this press release. Neither Real nor RE/MAX Holdings assumes any obligation to publicly provide revisions or updates to any forward-looking statements/forward-looking information, whether as a result of new information, future developments or otherwise, should circumstances change, except as otherwise required by securities and other applicable laws. Neither future distribution of this press release nor the continued availability of this press release in archive form on Real’s or RE/MAX Holdings’ website should be deemed to constitute an update or re-affirmation of these statements as of any future date. Important Information and Where to Find It In connection with the proposed transaction between Real and RE/MAX Holdings, Real and RE/MAX Holdings will file relevant materials with the SEC and Canadian securities regulators, as applicable, including a management information circular of Real and a registration statement on Form S-4 (the "Registration Statement") that will include a proxy statement of RE/MAX Holdings and prospectus of Real REMAX Group. Real’s management information circular will be mailed to securityholders of Real and the proxy statement/prospectus will be mailed to shareholders of each of RE/MAX Holdings and Real, in each case seeking their respective approval of the proposed transaction and other related matters. This press release is not a substitute for the Registration Statement, the proxy statement/prospectus, the Real management information circular or any other document that Real or RE/MAX Holdings (as applicable) may file with the SEC and Canadian securities regulators, as applicable, in connection with the proposed transaction. BEFORE MAKING ANY VOTING OR INVESTMENT DECISION, INVESTORS AND SECURITY HOLDERS OF REAL AND RE/MAX HOLDINGS ARE URGED TO READ THE REGISTRATION STATEMENT, THE REAL MANAGEMENT INFORMATION CIRCULAR, THE PROXY STATEMENT/PROSPECTUS AND ANY OTHER RELEVANT DOCUMENTS THAT ARE FILED OR WILL BE FILED WITH THE SEC AND CANADIAN SECURITIES REGULATORS, AS APPLICABLE, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION AND RELATED MATTERS. Investors and security holders may obtain free copies of the Registration Statement, the Real management information circular and the proxy statement/prospectus (when they become available), as well as other filings containing important information about Real or RE/MAX Holdings, without charge at the SEC’s Internet website (http://www.sec.gov) and under Real’s profile on SEDAR+ at www.sedarplus.ca, as applicable. Copies of the documents filed with the SEC and the Canadian securities regulators by Real will be available free of charge on Real’s internet website at https://investors.onereal.com or by contacting Real’s investor relations contact at [email protected]. Copies of the documents filed with the SEC by RE/MAX Holdings will be available free of charge on RE/MAX Holdings’ internet website at https://investors.remaxholdings.com or by contacting RE/MAX Holdings’ investor relations contact at [email protected]. The information included on, or accessible through, Real’s website or RE/MAX Holdings’ website is not incorporated by reference into this press release or Real’s and RE/MAX Holdings’ respective filings with the SEC and Canadian securities regulators, as applicable. Participants in the Solicitation Real, RE/MAX Holdings, their respective directors and certain of their respective executive officers may be deemed to be participants in the solicitation of proxies in respect of the proposed transaction. Information about the directors and executive officers of Real is set forth in its management information circular for its 2026 annual meeting of shareholders, which was filed with the Canadian securities regulators on April 24, 2026 (the "Real Annual Meeting Circular") and in its Form 6-K, which was filed with the SEC on April 24, 2026. Please refer to the sections captioned "Election of Directors," "Statement of Corporate Governance Practices," and "Compensation Discussion and Analysis" in the Real Annual Meeting Circular. To the extent holdings of such participants in Real’s securities have changed since the amounts described in the Real Annual Meeting Circular, such changes have been reflected on a Notice of Proposed Sale of Securities pursuant to Rule 144 under the U.S. Securities Act on Form 144 filed with the SEC and in insider reports filed with the Canadian securities regulators on SEDI at www.sedi.ca. Information about the directors and executive officers of RE/MAX Holdings is set forth in its proxy statement for its 2025 annual meeting of stockholders, which was filed with the SEC on April 3, 2025 (the "RE/MAX Holdings Annual Meeting Proxy Statement") and in its Form 8-K, which was filed with the SEC on May 20, 2025. Please refer to the sections captioned "Corporate Governance," "Director Compensation," "Information about Executive Officers," "Compensation Discussion and Analysis," "Stock Ownership of Certain Beneficial Owners and Management," and "Certain Relationships and Related Party Transactions" in the RE/MAX Holdings Annual Meeting Proxy Statement. To the extent holdings of such participants in RE/MAX Holdings’ securities have changed since the amounts described in the RE/MAX Holdings Annual Meeting Proxy Statement, such changes have been reflected on Initial Statements of Beneficial Ownership on Form 3 or Statements of Change in Ownership on Form 4 filed with the SEC, which are available at https://www.sec.gov/edgar/browse/?CIK=1581091&owner=exclude under the tab "Ownership Disclosures." These documents can be obtained free of charge from the sources indicated above. Additional information regarding the participants in the proxy solicitations and a description of their direct or indirect interests, by security holdings or otherwise, will be contained in the Registration Statement, the Real management information circular and the proxy statement/prospectus and the other relevant materials filed with the SEC and Canadian securities regulators, as applicable, when they become available. No Offer or Solicitation This press release is for informational purposes only and is not intended to, and shall not, constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval, nor shall there be any offer, solicitation or sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the U.S. Securities Act and otherwise in accordance with applicable Canadian securities laws. 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 33,000 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 are 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. View source version on businesswire.com: https://www.businesswire.com/news/home/20260507655254/en/ Contacts For additional information, please contact: Loren Irwin Director, Investor Relations and Financial Reporting [email protected] 908.280.2515 For media inquiries, please contact: [email protected] 201.564.4221