Strong Quarterly Financial Results
Total revenue of $71.1M; adjusted EBITDA of $22.4M; adjusted EBITDA margin of 31.5%; adjusted diluted EPS of $0.30 for Q4 2025.
Revenue Stability Excluding Marketing Funds
Revenue excluding marketing funds was $53.6M, a modest decrease of 0.4% year-over-year (driven by organic factors and flat FX).
Record Global Agent Count
Worldwide agent count reached an all-time high at over 148,500 agents as of Dec 31, 2025; best fourth quarter agent stabilization since 2021 and international growth driving new records.
Largest Brokerage Conversion in Company History
In January 2026, a Toronto-based family converted ~1,200 agents to RE/MAX Canada — the largest brokerage conversion in RE/MAX history, reinforcing brand momentum and pipeline of conversions/M&A.
Product Adoption and New Economic Models
Adoption of the Aspire program exceeded 2,000 agents; Ascend and Appreciate continue to trend upward, with early evidence of improved retention and productivity among Aspire cohorts.
Marketing as a Service and Digital Monetization Traction
Listings promoted via Marketing-as-a-Service deliver ~3x more views, ~6x more active users and ~5x more actions versus unpromoted listings; RE/MAX Media Network revenue is pacing ahead of forecast and advertising demand is strong.
Technology and AI Enhancements
Launched redesigned remax.com (and launching remax.ca) with AI features (AI-generated listing videos, consumer tools) and Max AI lead-nurturing to improve consumer engagement and agent matching.
Balance Sheet and Capital Flexibility
Total leverage ratio decreased to 3.12x as of Dec 31, 2025 (below the 3.5x target), providing greater flexibility for capital allocation including reinvestment, cash build and potential share repurchases.
Forward Guidance Provided
Q1 2026 guidance: agent count +1.5%–2.5% YoY; revenue $69M–$74M (incl. marketing funds $16M–$18M); adjusted EBITDA $14M–$17M. FY2026 guidance: agent count +1.5%–3.5% YoY; revenue $285M–$305M (incl. marketing funds $66M–$70M); adjusted EBITDA $90M–$100M.
Long-Term Production Milestone
Since Jan 1, 2020, RE/MAX agents have closed over 10 million transaction sides worldwide — a notable network achievement and scale advantage.