Real Matters, Inc. · TSX:REAL
Real Matters — Q1 2024 Earnings Presentation
7 slides from Real Matters's earnings presentation, Feb 1, 2024
Slide 1: Q1 2024 Financial Results
Q1 2024 FINANCIAL RESULTS February 1, 2024 (all amounts are expressed in U.S. dollars, excluding per share amounts and unless otherwise stated)
Slide 2: Cautionary Note Regarding Forward-Looking Information
Cautionary Note Regarding Forward-Looking Information This presentation contains “forward-looking information” within the meaning of applicable Canadian securities laws. Words such as “aim”, “could”, “forecast”, “target”, “may”, “might”, “will”, “would”, “expect”, “anticipate”, “estimate”, “intend”,
Slide 3: Q1 2024 Highlights
Q1 2024 Highlights U.S. Appraisal $35.4M • Revenues -5% YoY vs. addressable mortgage origination market volumes -19% • Net Revenue1 -2% YoY, record-high Net Revenue1 margin of 27.9% -7% YoY • Adjusted EBITDA1 of $2.7 million +16% YoY, operating expenses -10% YoY Consolidated Revenues U.S. Title • Ce
Slide 4: Financial highlights
Q1 2024 Financial highlights millions of U.S. dollars Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 QoQ Change YoY Change Revenues U.S. Appraisal $26.8 $31.2 $33.5 $28.0 $28.3 -14% -5% U.S. Title 2.0 2.3 2.6 2.2 2.4 -13% -14% Canada 6.6 8.7 9.9 7.4 7.5 -24% -12% Consolidated Revenues $35.4 $42.2 $46.0 $37
Slide 5: Non-GAAP Measures
Q1 2024 Non-GAAP Measures millions of U.S. dollars Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 QoQ Change YoY Change Net Revenue1 U.S. Appraisal $7.5 $8.6 $9.2 $7.7 $7.6 -13% -2% 1 Net Revenue Margin 27.9% 27.5% 27.5% 27.6% 27.0% U.S. Title 1.0 1.0 1.2 0.8 0.8 -8% 18% 1 Net Revenue Margin 47.3% 45.0% 45
Slide 6: Appendix A – Non-GAAP Measures
Appendix A – Non-GAAP Measures Net Revenue represents the difference between revenues and transaction costs. Net Revenue margin is calculated as Net Revenue divided by Revenues. The reconciling items between net income or loss and Net Revenue for the periods present below were as follows: millions o
Slide 7: Appendix A – Non-GAAP Measures
Appendix A – Non-GAAP Measures Adjusted EBITDA represents net income or loss before stock-based compensation expense, amortization, restructuring expenses, interest expense, interest income, net foreign exchange gain or loss, gain or loss on fair value of derivatives and income tax expense or recove