Real Matters, Inc. · TSX:REAL
Real Matters — Q2 2025 Earnings Presentation
8 slides from Real Matters's earnings presentation, Apr 30, 2025
Slide 1: Q2 2025 Financial Results
Q2 2025 FINANCIAL RESULTS April 30, 2025 (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: Q2 2025 Highlights
Q2 2025 Highlights • Consolidated Net Revenue1 of $10.1 million compared with $11.5 million in Q2’24 mainly due to a double-digit decline in the addressable U.S. purchase mortgage origination market. • Continued to deliver top-of-the scorecard performance. • Onboarded three new customers. • Outperfo
Slide 4: Q2 2025 Summary
Q2 2025 Summary U.S. Appraisal $37.3M • Revenues of $26.7M -9% QoQ outperforming an estimated double-digit decline in market volumes • Net Revenue1 margin of 27.3% up 80 bps QoQ (within Target Operating Model range) Consolidated Revenues • Adjusted EBITDA1 of $2.6M vs. $2.4M in Q1’25 due to lower op
Slide 5: Q2 2025 and Fiscal 2025 Financial Highlights
Q2 2025 and Fiscal 2025 Financial Highlights QoQ YoY YoY millions of U.S. dollars Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 YTD 2025 YTD 2024 Change Change Change Revenues U.S. Appraisal $26.7 $29.4 $33.8 $37.5 $32.6 -9% -18% $56.0 $59.3 -6% U.S. Title 2.3 2.5 2.4 2.1 2.0 -11% 11% 4.8 4.1 18% Canada 8
Slide 6: Q2 2025 and Fiscal 2025 Non-GAAP Measures
Q2 2025 and Fiscal 2025 Non-GAAP Measures QoQ YoY YoY millions of U.S. dollars Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 YTD 2025 YTD 2024 Change Change Change 1 Net Revenue U.S. Appraisal $7.3 $7.8 $9.0 $10.3 $9.2 -6% -21% $15.1 $16.6 -10% 1 Net Revenue Margin 27.3% 26.5% 26.7% 27.6% 28.3% 26.9% 28.1
Slide 7: 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: Quarter en
Slide 8: 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