Real Matters, Inc. · TSX:REAL
Real Matters — Q2 2023 Earnings Presentation
7 slides from Real Matters's earnings presentation, Apr 28, 2023
Slide 1: Q2 2023 Financial Results
Q2 2023 FINANCIAL RESULTS April 28, 2023 (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 2023 Highlights
Q2 2023 Highlights U.S. Appraisal • Record Net Revenue1 Margin of 27.6% up 60 basis points from Q1 23 due to network effect $37.6M • Adjusted EBITDA1 +36% QoQ • Launched 1 new lender, 1 new channel, net year-over-year market share gains Consolidated Revenues U.S. Title • Net Revenue1 flat QoQ $9.9M
Slide 4: Q2 2023 and YTD Fiscal 2023 Financial Highlights
Q2 2023 and YTD Fiscal 2023 Financial Highlights QoQ YoY YoY millions of U.S. dollars Q2 2023 Q1 2023 Q4 2022 Q3 2022 Q2 2022 YTD 2023 YTD 2022 Change Change Change Revenues U.S. Appraisal $28.0 $28.3 $43.9 $57.3 $70.4 -1% -60% $56.3 $149.6 -62% U.S. Title 2.2 2.4 4.0 5.6 10.8 -6% -79% 4.6 27.0 -83%
Slide 5: Q2 2023 and YTD Fiscal 2023 Non-GAAP Measures
Q2 2023 and YTD Fiscal 2023 Non-GAAP Measures QoQ YoY YoY millions of U.S. dollars Q2 2023 Q1 2023 Q4 2022 Q3 2022 Q2 2022 YTD 2023 YTD 2022 Change Change Change 1 Net Revenue U.S. Appraisal $7.7 $7.6 $11.1 $12.9 $15.1 1% -49% $15.4 $31.4 -51% 1 Net Revenue Margin 27.6% 27.0% 25.4% 22.6% 21.4% 27.3%
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: Quarter en
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, gain or loss on disposal of property and equipment, other non-operating costs, restructuring expenses, impairment of goodwill, interest expense, interest income, net fo