RE/MAX Reports $72.8 Million Revenue in Q2 2025, Net Income Increases to $4.7 Million

RE/MAX Holdings, Inc. reported a total revenue of $72.8 million for the second quarter of 2025, reflecting a 7.3% decrease compared to $78.5 million in the same period last year. The decline was attributed to a reduction in agent count and adverse foreign currency movements, which negatively impacted organic revenue growth by 5.7%. Despite the revenue drop, the company achieved a net income of $4.7 million, up from $3.7 million in the prior year, indicating improved profitability amid challenging market conditions.

In terms of operational metrics, the total agent count increased by 2.5% to 147,073 agents globally, although the U.S. and Canada combined agent count fell by 5% to 74,635 agents. The number of open Motto Mortgage offices decreased by 9.1% to 219. The company’s Adjusted EBITDA for the quarter was $26.3 million, a decrease of 6.4% from the previous year, but the Adjusted EBITDA margin improved slightly to 36.1%.

Strategically, RE/MAX has focused on enhancing its value proposition through initiatives like the AspireSM program, launched in April 2025. This program aims to attract new agents by offering a performance-based financial model that reduces upfront costs for franchisees. The company also undertook a restructuring of its support services, incurring $2.9 million in severance and related expenses during the quarter, which is expected to enhance customer experience.

On the balance sheet, total assets decreased to $574.8 million as of June 30, 2025, down from $581.6 million at the end of 2024. Current liabilities also saw a reduction, totaling $140.6 million compared to $154.7 million at the end of the previous fiscal year. The company maintained a strong liquidity position with $94.3 million in cash and cash equivalents, although cash provided by operating activities fell significantly to $10.2 million from $25.3 million in the prior year.

Looking ahead, RE/MAX remains cautious due to ongoing economic uncertainties and challenging housing market conditions. The company is committed to pursuing growth initiatives and may consider acquisitions to expand its market presence. However, it has suspended its quarterly dividend to preserve capital amid these challenges. The outlook emphasizes a focus on enhancing operational efficiencies and leveraging technology to support franchisees in a competitive environment.