Higher Than Expected Revenue and Profitability
First quarter results featured higher than expected revenue, margins, and profits, with total revenue of $74.5 million and adjusted EBITDA of $19.3 million, up 1.5% over Q1 of last year.
Strong Global Agent Growth
RE/MAX's global agent count grew by over 10% in Q1, highlighting strong international momentum.
Successful New Initiatives
Introduced Aspire, a new onboarding program, alongside other initiatives like refreshed branding, MAX/Engage social platform, and AI-powered tools, aimed at enhancing competitive advantage.
Improved Margin Performance
Adjusted EBITDA margin improved to 25.9%, an increase of 164 basis points over the first quarter of 2024.
Encouraging Signs in Mortgage Segment
Despite a challenging market, there are positive signs such as increased network-wide transactions and volume, franchise renewals, and high conference attendance.