**Real Brokerage Inc. Announces Q2 2024 Financial Results**
Intellectia.AI1970-01-01
Real Brokerage Inc. Announces Q2 2024 Financial Results
The Real Brokerage Inc. (NASDAQ: REAX), a technology platform reshaping real estate for agents, home buyers, and sellers, reported its financial results for the second quarter ended June 30, 2024.
Key Financial Metrics
| Financial Metric | Q2 2024 | Q2 2023 | QoQ Change | YoY Change | Consensus Estimates | Comparison to Estimates |
|---|---|---|---|---|---|---|
| Total Revenue | $340.8M | $185.3M | +84% | +84% | $264.46M | Above estimates |
| Earnings Per Share (EPS) | -$0.01 | -$0.02 | +50% | +50% | -$0.02 | Above estimates |
Interpretation : Real Brokerage Inc. demonstrated impressive financial performance with an 84% increase in revenue year-over-year, significantly surpassing Wall Street consensus estimates. The loss per share improved from $0.02 to $0.01, also beating expectations.
Key Operational Data
| Operational Metric | Q2 2024 | Q2 2023 | Change |
|---|---|---|---|
| Total Value of Real Estate Transactions | $12.6 billion | $7.0 billion | +80% |
| Number of Transactions Closed | 30,367 | 17,537 | +73% |
| Number of Agents on Platform | 19,540 | 11,494 | +70% |
Comments from Company Officers
-
Tamir Poleg, Chairman and CEO : Emphasized the company's new highs in revenue and gross profit, crediting the performance to their resilient business model and technological efficiencies.
-
Sharran Srivatsaa, President : Highlighted the launch of the Real Luxury division and Real Partners program aimed at attracting more agents and enhancing client services.
-
Michelle Ressler, CFO : Focused on continuing investments in the company’s people and platform to sustain growth and profitability.
Dividends and Share Repurchase Program
- Share Repurchase : The company repurchased 2.7 million common shares for $10.6 million in Q2 2024.
Forward Guidance
The company did not provide specific forward guidance but indicated plans for continued revenue growth and profitability improvements through sustained investments.
Stock Price Movement
Following the earnings release, Real Brokerage Inc.'s stock price saw an effective change of +1.67%.
Conclusion: Real Brokerage Inc. reported strong financial and operational results for Q2 2024, significantly exceeding consensus estimates. Key initiatives and launches point towards continued growth and profitability improvements for the remainder of the year.
Genasys Inc Reports Fourth Quarter and Full Year Fiscal 2024 Financial Results
Toll Brothers Reports Fourth Quarter and Full Year 2024 Financial Results
OilDri Corporation of America Reports Record First Quarter Fiscal 2025 Results
Share