The RMR Group Inc. · NASDAQ:RMR
The RMR — Q4 2026 Earnings Presentation
30 slides from The RMR's earnings presentation, Nov 12, 2026
Slide 1: Financial Results and Supplemental Information
Financial Results and Supplemental Information FISCAL FOURTH QUARTER 2026 November 12, 2026
Slide 2: Table of Contents
Table of Contents QUARTERLY RESULTS Fiscal Fourth Quarter 2026 Highlights .............................................................................................. 5 FINANCIALS Key Financial Data ...................................................................................................
Slide 3: Quarterly Results
7) = a) O pA Quarterly R RM
Slide 4: RMR Reports Fiscal Fourth Quarter 2026 Results
RMR Reports Fiscal Fourth Quarter 2026 Results "RMR’s fiscal year finished on a strong note. While fourth quarter Newton, MA (November 12, 2026). The RMR Group Inc. (Nasdaq: RMR) today earnings reflect a net loss of $12.4 million and net loss attributable announced its financial results for the fisc
Slide 5: Fiscal Fourth Quarter 2026 Highlights
Fiscal Fourth Quarter 2026 Highlights • Assets Under Management of $36.8 billion. • Net loss of $12.4 million, net loss margin of (27.5%), net loss attributable to The RMR Group Inc. of $5.7 million, or $(0.35) per diluted share, Adjusted Net Income Attributable to The RMR Group Inc. of $3.7 million
Slide 6: Financials
Financials RMR.
Slide 7: Key Financial Data
Key Financial Data (dollars in thousands, except per share amounts) As of and for the Three Months Ended September 30, 2026 June 30, 2026 September 30, 2025 GAAP Financial Measures Net (Loss) Income $ (12,426) $ 7,388 $ 7,582 Net (Loss) Income Margin (27.5%) 16.2% 16.6% Net (Loss) Income Attributabl
Slide 8: Distributable Earnings Bridge
Distributable Earnings Bridge $0.60 $0.58 $0.03 $0.56 $0.54 $0.05 $0.53 $(0.02) $0.52 $(0.01) $0.50 $0.48 Per Share $0.48 $0.46 $0.44 $0.42 $0.40 $0.38 $0.36 $0.34 Distributable Earnings Lower compensation and Lower general and Lower property Other, net Distributable Earnings (1) Q3 2026 benefits ex
Slide 9: AUM by Source and Unrecognized Incentive Fees
AUM by Source and Unrecognized Incentive Fees (dollars in thousands) As of September 30, 2026 Unrecognized Commercial Real Estate Sector / Strategy AUM Fee-Earning AUM Incentive Fees (3) Perpetual Capital Service Properties Trust (NASDAQ: SVC) Net Leased Service-Focused Retail & Hotels $ 9,754,254 $
Slide 10: Management and Advisory Services Revenues by Source
Management and Advisory Services Revenues by Source For the Three Months Ended (dollars in thousands) Base Business Management & Advisory Revenues Base Property Management & Other Revenues $16,225 $15,197 $14,574 $27,801 $27,409 $28,760 $4,991 $7,068 $5,099 (1) $6,134 $5,264 $5,280 $22,810 $22,145 $
Slide 11: Well-Covered Dividend
Well-Covered Dividend (amounts in thousands, except per share amounts) Dividends paid by The RMR Group Inc. are funded through a combination of Distributable Earnings generated by The RMR Group LLC and cash and cash equivalents held by The RMR Group Inc., as illustrated below: Calculation of Distrib
Slide 12: Value Add Wholly Owned Real Estate
Value Add Wholly Owned Real Estate (dollars in thousands) As of and for the Three Months Ended September 30, 2026 June 30, 2026 September 30, 2025 Properties 4 4 4 Residential Units 781 781 781 Retail Square Footage 203,994 203,994 203,994 Gross Asset Value $243,897 $241,411 $237,668 Mortgage Debt $
Slide 13: GAAP Results: Condensed Consolidated Statements of Income
GAAP Results: Condensed Consolidated Statements of Income (dollars in thousands) For the Three Months Ended September 30, 2026 June 30, 2026 September 30, 2025 Revenues: Management services (1) $ 43,860 $ 44,093 $ 44,286 Incentive fees 73 90 337 Advisory services 1,332 1,343 1,115 Total management,
Slide 14: GAAP Results: Condensed Consolidated Statements of Income (Continued)
GAAP Results: Condensed Consolidated Statements of Income (Continued) (dollars in thousands) For the Three Months Ended September 30, 2026 June 30, 2026 September 30, 2025 Operating income (loss) $ 11,032 $ (9,272) $ 10,861 Interest income 376 416 1,082 Interest expense (3,090) (3,205) (1,676) Chang
Slide 15: GAAP Results: Earnings per Common Share
GAAP Results: Earnings per Common Share (amounts in thousands, except per share amounts) As of and for the Three Months Ended September 30, 2026 June 30, 2026 September 30, 2025 Numerators: Net (loss) income attributable to The RMR Group Inc. $ (5,690) $ 3,197 $ 3,414 Less: income attributable to un
Slide 16: GAAP Results: Condensed Consolidated Balance Sheets
GAAP Results: Condensed Consolidated Balance Sheets (dollars in thousands) September 30, 2026 September 30, 2025 Assets Cash and cash equivalents held by The RMR Group Inc. $ 10,449 $ 19,478 Cash and cash equivalents held by The RMR Group LLC 37,487 42,819 Due from related parties 88,370 79,703 Prep
Slide 17: Non-GAAP Financial Measures
Non-GAAP Financial Measures
Slide 18: Reconciliation of Adjusted Net Income and Adjusted Net Income per Diluted Share
Reconciliation of Adjusted Net Income and Adjusted Net Income per Diluted Share (amounts in thousands, except per share amounts) The following table presents the impact of certain individually significant items on the financial results for the three months ended September 30, 2026, excluding the red
Slide 19: Reconciliation of Adjusted Net Income per Diluted Share (Continued)
Reconciliation of Adjusted Net Income and Adjusted Net Income per Diluted Share (Continued) (amounts in thousands, except per share amounts) The following table presents the impact of certain individually significant items on the financial results for the three months ended June 30, 2026, excluding
Slide 20: Reconciliation of Adjusted Net Income per Diluted Share (Continued)
Reconciliation of Adjusted Net Income and Adjusted Net Income per Diluted Share (Continued) (amounts in thousands, except per share amounts) The following table presents the impact of certain individually significant items on the financial results for the three months ended September 30, 2025, exclu
Slide 21: Reconciliation of EBITDA and Adjusted EBITDA
Reconciliation of EBITDA and Adjusted EBITDA (dollars in thousands) For the Three Months Ended September 30, 2026 June 30, 2026 September 30, 2025 Net (loss) income $ (12,426) $ 7,388 $ 7,582 Income tax (benefit) expense (1,967) 1,899 2,064 Depreciation and amortization 4,452 4,413 3,741 Interest ex
Slide 22: Calculation of Net Income Margin, Adjusted EBITDA Margin, Distributable Earnings
Calculation of Net Income Margin, Adjusted EBITDA Margin, Distributable Earnings and Distributable Earnings per Share (amounts in thousands, except per share amounts) As of and for the Three Months Ended September 30, 2026 June 30, 2026 September 30, 2025 Calculation of Net (Loss) Income Margin: Tot
Slide 23: Appendix
Appendix RMR.
Slide 24: Notes
Notes (dollars in thousands) Notes to Page 10 – Management and Advisory Services Revenues by Source The following tables present revenues by client and exclude incentive fees earned from the Perpetual Capital clients of $73, $90 and $337 during the three months ended September 30, 2026, June 30, 202
Slide 25: Notes (Continued)
Notes (Continued) (dollars in thousands) Notes to Page 10 – Management and Advisory Services Revenues by Source (Continued) For the Three Months Ended September 30, 2026 June 30, 2026 September 30, 2025 CONSTRUCTION SUPERVISION REVENUES DHC $ 312 $ 307 $ 342 ILPT 210 159 217 OPI 111 126 417 SVC 502
Slide 26: Notes (Continued)
Notes (Continued) (dollars in thousands) Notes to Page 11 – Well-Covered Dividend Notes to Page 22 – Calculation of Net Income Margin, Adjusted EBITDA Margin, Distributable Earnings and Distributable Earnings per Share The following illustrative diagram presents certain tax information pertaining to
Slide 27: Notes (Continued)
Notes (Continued) (dollars in thousands) Notes to Page 13 – GAAP Results: Condensed Consolidated Statements of Income (1) With the exception of OPI, which pays a fixed business management fee, management services revenues include base business management fees earned from the Managed Equity REITs tha
Slide 28: Non-GAAP Financial Measures and Certain Definitions
Non-GAAP Financial Measures and Certain Definitions RMR presents certain “non-GAAP financial measures” within the meaning of the applicable rules of the SEC, including Adjusted Net Income Attributable to The RMR Group Inc., Adjusted Net Income Attributable to The RMR Group Inc. per diluted share, EB
Slide 29: Non-GAAP Financial Measures and Certain Definitions (Continued)
Non-GAAP Financial Measures and Certain Definitions (Continued) • Assets Under Management (AUM) All references in this presentation to AUM on, or as of, a date are calculated at a point in time. ▪ AUM is calculated as: (i) the historical cost of real estate and related assets, excluding depreciation
Slide 30: Warning Concerning Forward-Looking Statements
Warning Concerning Forward-Looking Statements This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other securities laws that are subject to risks and uncertainties. These statements may include words such as “believe”,