MARKETS / REAX

REAL ESTATE AGENTS & MANAGERS (FOR OTHERS)

Real Brokerage Inc. REAX

3 fiscal years on record · USD · FY2025 reported · SEC filings only

Revenue

$2.0B

▲ 55.7% YoY

Net income

$-8.1M

Free cash flow

$64.8M

▲ 35.9% YoY

In brief

What this company does

Real operates as a licensed residential real estate brokerage across all 50 U.S. states, the District of Columbia, and five Canadian provinces. The company generates the majority of its revenue from commissions earned on residential real estate transactions completed by agents affiliated with the company. As of February 25, 2026, Real and its subsidiaries had 474 full-time employees and 33,189 real estate agents. In addition to its core brokerage operations, Real offers ancillary services, including mortgage brokerage, title and escrow services, and financial technology products. One Real Title offers title and escrow services in 17 states. The company provides mortgage brokerage services through One Real Mortgage, which operates as a licensed mortgage broker in Washington D.C. and 25 states.

Written from the business description in The Real Brokerage Inc.'s annual report to the U.S. Securities and Exchange Commission, filed 4 March 2026. Every sentence was checked against that document before publication.

Growth

USD 2.0B

Revenue, FY2025 · full 3-year series below

Revenue $B Net income $B

FY2025 · Revenue 2.0 · Net income -0.0

Compound annual growth

3 yrs

5 yrs

10 yrs

15 yrs

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

−0 cents

lost on every revenue dollar

Operating margin Net margin

FY2025 · Operating -0.5% · Net -0.4%

ROE

FY2025 · ROE -19.3%

Gross margin8.4%

Operating margin-0.5%

Net margin-0.4%

Return on assets-7.6%

EBITDAUSD -8.5M

Each USD of equity lost 19 cents this year.

Cash & shareholders

USD 37.2M

returned in FY2025 · dividends + net buybacks

Free cash flow $M

FY2025 · FCF 64.8

Net buybacks $M Dividends $M

FY2025 · Dividends — · Net buybacks 37.2

Dividends paid—

Net buybacksUSD 37.2M

Share of profit-458.9%

Consecutive raises—

USD 37.2M in buybacks went back to shareholders in a year without profit.

Total assetsUSD 126.9M

EquityUSD 51.7M

CashUSD 33.2M

Current ratio1.41×

Equity funds 41% of total assets.

The 3-year record

3 fiscal years

Every figure from documents filed with the SEC · USD

row low → row highnegative

Metric	2025	2024	2023
Revenue $B	2.0	1.3	0.7
Operating income $B	−0.0	−0.0	−0.0
EBITDA $B	−0.0	−0.0	−0.0
Income tax $B	−0.0	·	·
Net income $B	−0.0	−0.0	−0.0
Free cash flow $B	0.1	0.0	0.0
EPS, diluted $	−0.04	−0.14	−0.15
Dividend / sh $	·	·	·
Payout %	·	·	·
ROE %	−19.3	−76.9	−74.6
Shares out B	0.21	0.20	0.18

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance

Company facts, as filed

How we verify · 0 failures in 15 reconciliationsAUDITED

Reconciled in 3 of 19 fiscal years. 80 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures

ActivityReal Estate Agents & Managers (For Others)

Listed onnot stated in the filings

Incorporated inoutside the United States — SEC code A6

Fiscal year endsDecember 31

SEC categoryemerging growth company

Data on record since2023