RE/MAX Holdings Reports $68.5 Million Revenue and $4.3 Million Net Loss in Q2 2026

RE/MAX Holdings, Inc. reported a total revenue of $68.5 million for the second quarter of 2026, reflecting a decrease of 5.8% compared to $72.8 million in the same period last year. The decline was attributed to a drop in continuing franchise fees, which fell by 11.4% to $25.7 million, and a decrease in Marketing Funds fees, which dropped by 8.1% to $16.8 million. The company also recorded a net loss attributable to RE/MAX Holdings of $4.3 million, a significant decline from a net income of $4.7 million in the prior year. Adjusted EBITDA for the quarter decreased by 12.6% to $22.9 million, with an adjusted EBITDA margin of 33.5%, down from 36.1% in the previous year.

In the first half of 2026, total revenue was $138.7 million, down 5.8% from $147.2 million in the same period of 2025. The decrease was driven by similar factors affecting the second quarter, including a reduction in continuing franchise fees and Marketing Funds fees. The company reported a net loss of $22.5 million for the six months ended June 30, 2026, compared to a net income of $3.5 million in the prior year. The decline in profitability was further exacerbated by merger transaction costs of $14.3 million and settlement charges related to ongoing litigation.

Operationally, RE/MAX Holdings saw a slight increase in total agent count, which rose by 1.5% to 149,267 agents. However, the U.S. and Canada combined agent count decreased by 2.2% to 72,968 agents, and the number of open Motto Mortgage offices decreased significantly by 32% to 149. The company has been focusing on enhancing its value proposition for franchisees through new product launches and performance-based economic models, which have shown early signs of success in agent recruitment.

Strategically, RE/MAX is in the process of merging with The Real Brokerage Inc., a transaction expected to close in the second half of 2026, subject to regulatory and shareholder approvals. The merger will create a new holding company, Real REMAX Group Inc., and is anticipated to enhance the combined company's market position. The merger agreement includes provisions for a cash and stock exchange for RE/MAX shareholders, with a total financing commitment of up to $550 million secured to facilitate the transaction. The company is also focused on maintaining liquidity, with $112.4 million in cash and cash equivalents as of June 30, 2026, and plans to continue investing in technology and marketing solutions to support affiliate success.