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Jun 30, 2021
RE/MAX Q2 2021 Earnings Report
Reported record financial results driven by a strong housing market, improved core operations, and recent acquisitions.
Key Takeaways
RE/MAX Holdings reported record financial results for Q2 2021, driven by a strong housing market and strategic acquisitions. Total revenue increased by 48.0% to $77.2 million, and adjusted EBITDA rose by 61.3% to $30.5 million. The company also completed the acquisition of RE/MAX INTEGRA's North American operations and expanded its credit facility.
Total agent count increased 6.3% to 140,201 agents.
U.S. and Canada combined agent count increased 3.0% to 85,494 agents.
Total open Motto Mortgage franchises increased 29.1% to 164 offices.
Total Revenue of $77.2 million; Revenue excluding the Marketing Funds increased 46.4% to $59.2 million
Forward Guidance
The Company's third quarter and full-year 2021 Outlook includes the financial results of the acquired RE/MAX INTEGRA's North American regions and assumes no further currency movements, acquisitions or divestitures.
Positive Outlook
- Agent count to increase 5.0% to 6.0% over third quarter 2020
- Revenue in a range of $86.5 million to $91.5 million (including revenue from the Marketing Funds in a range of $21.5 million to $23.5 million)
- Adjusted EBITDA in a range of $29.5 million to $33.0 million.
- Agent count to increase 5.0% to 6.0% over full-year 2020
- Revenue in a range of $321.0 million to $336.0 million (including revenue from the Marketing Funds in a range of $80.5 million to $83.5 million), up from $300.0 million to $310.0 million (including revenue from the Marketing Funds in a range of $71.0 million to $74.0 million)
Historical Earnings Impact
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Avg. Return Before/After Earnings
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