Real Matters, Inc. · TSX:REAL
Real Matters — Q1 2026 Earnings Presentation
9 slides from Real Matters's earnings presentation, Jan 29, 2026
Slide 1: Q1 2026 Financial Results
Q1 2026 FINANCIAL RESULTS January 29, 2026 (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 2026 Highlights
Q1 2026 Highlights • Double-digit YoY topline growth driven by solid growth in all three segments. • Positive Adjusted EBITDA1 in a seasonally low quarter: strong operating leverage. • Launched eight new clients in the first quarter, including two top-100 lenders and a new channel with a Tier 1 lend
Slide 4: More mortgages with rates above 6% than below 3%
More mortgages with rates above 6% than below 3% Current U.S. Outstanding Mortgages by Interest Rate 13M ~22% mortgages YoY increase with rates in refinance 22% >6.0% candidate pool 16% 33% 11% 10% 10% 6% 6% 6% 5% 4% 4% <= 2.5% 2.6-3.0% 3.1-3.5% 3.6-4.0% 4.1-4.5% 4.6-5.0% 5.1-5.5% 5.6-6.0% 6.1-6.5%
Slide 5: Q1 2026 Financial Summary
Q1 2026 Financial Summary U.S. Appraisal $46.5M • Revenues of $32.9M +12% YoY • Net Revenue1 margin of 25.4%: -110 bps YoY due to geography, clients and product mix Consolidated Revenues • Adjusted EBITDA1 of $3.3M +36% YoY, Adjusted EBITDA1 margins +820 bps YoY • Launched three new clients includin
Slide 6: Financial highlights
Q1 2026 Financial highlights millions of U.S. dollars Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 QoQ Change YoY Change Revenues U.S. Appraisal $32.9 $33.1 $32.6 $26.7 $29.4 -1% 12% U.S. Title 4.4 2.9 2.8 2.3 2.5 55% 76% Canada 9.2 10.0 10.0 8.3 9.1 -8% 1% Consolidated Revenues $46.5 $46.0 $45.4 $37.3 $
Slide 7: Non-GAAP Measures
Q1 2026 Non-GAAP Measures millions of U.S. dollars Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 QoQ Change YoY Change Net Revenue1 U.S. Appraisal $8.4 $8.4 $8.5 $7.3 $7.8 -1% 7% 1 Net Revenue Margin 25.4% 25.5% 26.2% 27.3% 26.5% U.S. Title 2.8 1.6 1.5 1.2 1.4 83% 110% 1 Net Revenue Margin 63.9% 54.2% 52.
Slide 8: 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 9: 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