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The Real Brokerage Inc. (V:REAX)

Business Focus: Real Estate Services (NEC)

Sector:  Real Estate Industry:  Real Estate Services
 
Company Contact
Address: 100 King Street West, Suite 1600
TORONTO ON M5X 1G5
Tel: N/A
Website: https://adlventures.com
IR: See website
Key People
Tamir Poleg
Chairman of the Board, Chief Executive Officer
Sharran Srivatsaa
President
Michelle Ressler
Chief Financial Officer, Corporate Secretary
Andrew Kazeniac
Chief Operating Officer
Pritesh Damani
Chief Technology Officer
Andrea Madden
Chief Marketing Officer
Alexandra Lumpkin
Vice President, General Counsel
   
Business Overview
The Real Brokerage Inc. is a Canada-based technology-powered real estate brokerage company. The Company is revolutionizing the residential real estate industry by pairing technology with the guidance of agent-led experience. It delivers a cloud-based platform to improve efficiencies and enable agents to provide a seamless end-to-end experience for home buyers and sellers. The Company offers agents a mobile-focused tech-platform to run their business. The Company is focused on developing technology to enhance real estate agent performance while building a scalable, efficient brokerage operation. It provides a seamless end-to-end home buying experience for consumers, including access to ancillary services, such as mortgage and title services. Its technology stack puts agents at the center of a real estate transaction and supports agents in helping their customers. The Company serves 48 states, the District of Columbia, and four Canadian provinces with more than 11,000 agents.
Financial Overview
For the nine months ended 30 September 2023, Real Brokerage Inc revenues increased 78% to $507.8M. Net loss increased 13% to $15.5M. Revenues reflect Commissions segment increase of 2% to $287M, Other segment increase from $777K to $1.7M. Higher net loss reflects Other income decrease of 84% to $106K (income), FV/Uls Adjust on Derivatives for Hedging decrease from $399K (income) to $3K (expense).
Employees: 118 as of Dec 31, 2022
Reporting Currency: U.S. Dollars
Enterprise value: $690.69M as of Sep 30, 2023
Annual revenue (TTM): $819.90M as of Sep 30, 2023
EBITDA (TTM): -$28.20M as of Sep 30, 2023
Net annual income (TTM): -$30.34M as of Sep 30, 2023
Free cash flow (TTM): $28.76M as of Sep 30, 2023
Net Debt Last Fiscal Year: N/A
Shares outstanding: 181,800,000 as of Sep 30, 2023
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization