The Real Brokerage Inc. Announces Second Quarter 2026 Financial Results

  • August 10, 2026
  • Press Release
Tamir Poleg, Co-Founder, Chairman and CEO of The Real Brokerage.

MIAMI, FL – 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.

1There are references to “Adjusted EBITDA” and “Adjusted Operating Expense” in this press release, which are non-GAAP measures. Real’s method for calculating non-GAAP measures may differ from other reporting issuers’ methods and accordingly may not be comparable. See accompanying note under the heading “Non-GAAP Measures and Ratios” for an explanation of the composition of these non-GAAP measures.
2All dollar references are in U.S. dollars.

Q2 2026 Business and Operational Highlights

  • North American Brokerage
    • North American Brokerage revenue rose to $696.4 million in the second quarter of 2026, an increase of 30% from $537.4 million in the second quarter of 2025.
    • The total number of agents increased to 35,348 at the end of the second quarter of 2026, a 26% increase from the second quarter of 2025.
    • The total number of transactions closed was 62,380 in the second quarter of 2026, an increase of 27% from 49,282 in the second quarter of 2025.
    • The total value of completed real estate transactions reached $26.3 billion in the second quarter of 2026, an increase of 31% from $20.1 billion in the second quarter of 2025.
    • As of August 5, 2026, over 36,000 agents are now on the Real platform.
  • One Real Title
    • One Real Title revenue was $1.7 million in the second quarter of 2026, a 29% increase compared to $1.3 million in the second quarter of 2025.
  • One Real Mortgage
    • One Real Mortgage revenue reached $1.9 million in the second quarter of 2026, a 10% increase compared to $1.7 million in the second quarter of 2025.
    • As of August 2026, One Real Mortgage had 169 mortgage loan officers, including 137 affiliated with the Real Originate program.
  • Real Wallet
    • Real Wallet revenue totaled $592 thousand in the second quarter of 2026, a 140% increase compared to $247 thousand in the second quarter of 2025.
    • As of August 2026:
      • More than 10,200 Real agents were utilizing Real Wallet Business Checking Accounts, including over 1,750 Real Wallet Tax Planning Business Checking Accounts.
      • The total deposit balance held in all Real Wallet Business Checking Accounts, including Tax Planning Business Checking Accounts, was approximately $38.4 million.
      • The total balance of credit outstanding under Real Wallet lines of credit and business loans was $10.8 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 through Thread Bank, Member FDIC, including Company-branded debit cards; (ii) Real Wallet Rewards, under which agents may earn points based on account balances and transaction activity that may be applied to reduce brokerage fees, subject to program terms and conditions; and (iii) business loans 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 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.

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.

Source: The Real Brokerage Inc.

Get more information, facts and figures about REAL Brokerage, click here for the REAL Brokerage overview.

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