NASDAQ : REAX

The Real Brokerage Inc. — Financial statements

Real Estate · Real Estate Services · United States

Last price 14.45 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 528.34M

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Financial statements

The Real Brokerage Inc. (REAX) reported revenue of 2.24B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.

Income statement

Fiscal year January - December; amounts in USD.

TTMFY2025FY2024FY2023FY2022FY2021
Revenue2.24B1.97B1.26B689.16M381.76M121.68M
Cost of Revenue2.06B1.80B1.15B626.28M349.81M110.59M
Gross Profit184.30M165.69M114.74M62.87M31.95M11.09M
Selling, General & Admin167.83M156.74M118.56M81.52M46.83M18.38M
Research & Development20.02M17.44M12.16M7.36M4.87M3.98M
Operating Expenses187.85M174.19M130.72M88.88M51.70M22.36M
Operating Income-3.55M-8.50M-15.98M-26.01M-19.75M-11.27M
Interest Expense-937.00K-554.00K-1.72M-68.00K-540.00K
Interest & Investment Income13.00K
Other Non Operating Income (Expenses)1.01M995.00K496.00K-1.14M178.00K148.00K
EBT Excluding Unusual Items-3.47M-8.06M-17.20M-27.22M-20.11M-11.11M
Gain (Loss) on Sale of Investments3.00K373.00K-574.00K
Legal Settlements-750.00K-750.00K-9.25M
Other Unusual Items-600.00K
Pretax Income-16.12M-8.81M-26.45M-27.22M-20.34M-11.68M
Income Tax Expense-209.00K-740.00K
Earnings From Continuing Operations-15.91M-8.07M-26.45M-27.22M-20.34M-11.68M
Minority Interest in Earnings-185.00K-39.00K-88.00K-285.00K-242.00K
Net Income-16.09M-8.11M-26.54M-27.50M-20.58M-11.68M
Net Income to Common-16.09M-8.11M-26.54M-27.50M-20.58M-11.68M
Shares Outstanding (Basic)22.69M21.99M19.12M17.81M17.82M17.05M
Shares Outstanding (Diluted)22.69M21.99M19.12M17.81M17.82M17.05M
EPS (Basic)-0.71-0.37-1.39-1.54-1.15-0.69
EPS (Diluted)-0.71-0.40-1.40-1.54-1.15-0.69
Free Cash Flow78.56M64.83M47.69M18.35M4.59M1.51M
Free Cash Flow Per Share3.462.952.491.030.260.09
Gross Margin8.23%8.42%9.07%9.12%8.37%9.12%
Operating Margin-0.16%-0.43%-1.26%-3.77%-5.17%-9.26%
Profit Margin-0.72%-0.41%-2.10%-3.99%-5.39%-9.60%
Free Cash Flow Margin3.51%3.29%3.77%2.66%1.20%1.24%
EBITDA-1.27M-6.57M-14.58M-24.88M-19.55M-11.14M
EBITDA Margin-0.06%-0.33%-1.15%-3.61%-5.12%-9.15%
D&A For EBITDA2.28M1.93M1.40M1.13M192.00K129.00K
EBIT-3.55M-8.50M-15.98M-26.01M-19.75M-11.27M
EBIT Margin-0.16%-0.43%-1.26%-3.77%-5.17%-9.26%

Balance sheet

Fiscal year January - December; amounts in USD.

TTMFY2025FY2024FY2023FY2022FY2021
Cash & Equivalents73.82M33.21M23.38M14.71M10.85M25.82M
Short-Term Investments12.82M16.73M9.45M14.22M7.89M8.81M
Cash & Short-Term Investments86.64M49.94M32.83M28.93M18.74M34.63M
Accounts Receivable34.82M20.17M14.23M6.44M1.55M254.00K
Other Receivables10.11M6.23M63.00K74.00K23.00K
Receivables44.93M26.40M14.23M6.50M1.62M277.00K
Prepaid Expenses2.13M529.00K448.00K
Restricted Cash54.78M26.34M24.09M12.95M7.48M3.31M
Other Current Assets7.72M3.08M1.76M
Total Current Assets194.08M105.76M72.91M50.51M28.37M38.66M
Property, Plant & Equipment2.35M2.46M2.12M1.60M511.00K279.00K
Long-Term Investments2.25M2.25M
Goodwill8.99M8.99M8.99M8.99M10.26M602.00K
Other Intangible Assets3.48M4.16M2.58M3.44M4.62M451.00K
Long-Term Deferred Tax Assets966.00K931.00K
Other Long-Term Assets1.27M2.31M
Total Assets213.40M126.86M86.59M64.55M43.76M40.00M
Accounts Payable948.00K1.16M1.37M571.00K474.00K54.00K
Accrued Expenses73.32M38.20M25.94M13.37M11.87M8.82M
Current Portion of Leases96.00K91.00K
Other Current Liabilities60.53M35.90M27.14M13.25M8.67M3.35M
Total Current Liabilities134.79M75.27M54.45M27.20M21.11M12.31M
Long-Term Leases40.00K
Long-Term Deferred Tax Liabilities10.00K10.00K
Other Long-Term Liabilities269.00K242.00K639.00K
Total Liabilities134.80M75.28M54.45M27.46M21.35M12.99M
Additional Paid-In Capital202.62M164.21M138.64M115.50M63.20M63.40M
Retained Earnings-124.30M-112.85M-104.75M-78.20M-50.70M-30.13M
Treasury Stock-2.46M-257.00K-14.96M-12.64M
Comprehensive Income & Other355.00K318.00K708.00K-167.00K24.61M6.38M
Total Common Equity78.68M51.67M32.15M36.88M22.15M27.00M
Minority Interest-89.00K-90.00K-3.00K209.00K263.00K
Shareholders' Equity78.59M51.59M32.14M37.08M22.41M27.00M
Total Liabilities & Equity213.40M126.86M86.59M64.55M43.76M40.00M
Total Debt96.00K131.00K
Net Cash (Debt)86.64M49.94M32.83M28.93M18.64M34.50M
Net Cash Per Share3.822.271.721.621.052.02
Filing Date Shares Outstanding21.92M21.23M20.40M18.53M18.00M17.82M
Total Common Shares Outstanding21.79M21.05M20.25M18.36M17.99M17.82M
Working Capital59.28M30.50M18.46M23.32M7.26M26.35M
Book Value Per Share3.612.461.592.011.231.52
Tangible Book Value66.21M38.52M20.58M24.44M7.27M25.95M
Tangible Book Value Per Share3.041.831.021.330.401.46
Machinery4.47M4.18M3.08M2.09M622.00K274.00K

Cash flow statement

Fiscal year January - December; amounts in USD.

TTMFY2025FY2024FY2023FY2022FY2021
Net Income-16.09M-8.11M-26.54M-27.50M-20.58M-11.68M
Depreciation & Amortization2.28M1.93M1.40M1.13M276.00K213.00K
Other Amortization846.00K57.00K
Asset Writedown & Restructuring Costs12.00K723.00K
Loss (Gain) From Sale of Investments-223.00K
Stock-Based Compensation76.45M68.15M52.92M38.40M16.20M4.03M
Other Operating Activities-1.04M-1.06M1.06M376.00K409.00K565.00K
Change in Accounts Receivable-8.00M-5.93M-7.79M-4.89M-1.29M-137.00K
Change in Accounts Payable-303.00K-213.00K803.00K97.00K420.00K
Change in Other Net Operating Assets25.33M11.17M26.89M10.64M10.50M8.91M
Operating Cash Flow79.48M65.93M48.73M18.98M6.00M1.68M
Capital Expenditures-921.00K-1.10M-1.04M-629.00K-1.41M-172.00K
Cash Acquisitions-8.15M-1.10M
Sale (Purchase) of Intangibles-2.75M-2.75M
Investment in Securities-7.71M-9.74M4.85M-6.00M512.00K
Investing Cash Flow-11.38M-13.59M3.81M-6.63M-9.05M-1.27M
Long-Term Debt Repaid-35.00K-84.00K
Lease Payments-35.00K-84.00K
Net Debt Issued (Repaid)-35.00K-84.00K
Issuance of Common Stock1.60M2.17M6.28M502.00K265.00K28.93M
Repurchase of Common Stock-32.23M-42.29M-39.12M-3.23M-8.06M-12.64M
Other Financing Activities-4.87M-126.00K-300.00K-339.00K-19.00K-8.94M
Financing Cash Flow-35.50M-40.25M-33.14M-3.06M-7.85M7.27M
Foreign Exchange Rate Adjustments91.00K2.00K410.00K44.00K100.00K176.00K
Net Cash Flow32.69M12.09M19.81M9.33M-10.80M7.86M
Free Cash Flow78.56M64.83M47.69M18.35M4.59M1.51M
Free Cash Flow Margin3.51%3.29%3.77%2.66%1.20%1.24%
Free Cash Flow Per Share3.462.952.491.030.260.09
Levered Free Cash Flow74.81M65.65M50.96M16.84M5.96M5.99M
Unlevered Free Cash Flow74.55M65.99M52.04M16.88M6.29M5.99M
Free Cash Flow After Leases78.56M64.83M47.69M18.35M4.55M1.43M
Change in Working Capital17.03M5.02M19.90M5.85M9.63M8.78M

Ratios

Fiscal year January - December; amounts in USD.

TTMFY2025FY2024FY2023FY2022FY2021
Market Capitalization546.62M773.07M917.70M290.88M187.43M657.46M
Enterprise Value459.98M717.24M885.91M258.12M155.97M612.64M
Last Close Price14.0136.5046.0016.0010.5036.90
PS Ratio0.240.390.730.420.495.40
PB Ratio3.8814.9928.557.848.3624.35
P/TBV Ratio8.2620.0744.6011.9025.7825.34
P/FCF Ratio6.9611.9319.2515.8540.86434.83
P/OCF Ratio6.8811.7318.8315.3331.26390.41
EV/Sales Ratio0.210.360.700.380.415.04
EV/FCF Ratio5.8511.0618.5814.0734.00405.19
Debt / Equity Ratio0.000.01
Debt / FCF Ratio0.020.09
Net Debt / Equity Ratio-1.10-0.97-1.02-0.78-0.83-1.28
Net Debt / EBITDA Ratio68.337.602.251.160.953.10
Net Debt / FCF Ratio-1.10-0.77-0.69-1.58-4.06-22.82
Asset Turnover12.3518.4416.7312.739.123.93
Quick Ratio0.981.010.861.300.962.83
Current Ratio1.441.411.341.861.343.14
Return on Equity (ROE)-24.94%-19.27%-76.42%-91.48%-82.30%-48.86%
Return on Assets (ROA)-1.22%-4.98%-13.21%-30.02%-29.47%-22.75%
Return on Capital Employed (ROCE)-4.50%-16.50%-49.70%-69.60%-87.20%-40.70%
Earnings Yield-4.74%-1.05%-2.89%-9.45%-10.98%-1.78%
FCF Yield14.37%8.39%5.20%6.31%2.45%0.23%
Buyback Yield / Dilution-10.83%-15.01%-7.32%0.04%-4.53%-67.39%