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Dec 31, 2024
RE/MAX Q4 2024 Earnings Report
RE/MAX Holdings, Inc. reported a decrease in total revenue and an increase in net income for the fourth quarter of 2024, driven by lower operating expenses and higher-than-forecasted profit.
Key Takeaways
RE/MAX Holdings, Inc. announced its fourth quarter 2024 operating results, with total revenue decreasing by 5.4% to $72.5 million compared to the same period in 2023. Despite the revenue decline, net income attributable to RE/MAX Holdings, Inc. increased significantly to $5.8 million from a net loss of ($10.9) million in Q4 2023, primarily due to a substantial reduction in total operating expenses. Adjusted EBITDA also saw a modest increase of 1.6% to $23.3 million.
Total revenue for Q4 2024 was $72.5 million, a 5.4% decrease from Q4 2023.
Net income attributable to RE/MAX Holdings, Inc. was $5.8 million in Q4 2024, a significant improvement from a net loss of ($10.9) million in Q4 2023.
Adjusted EBITDA increased by 1.6% to $23.3 million, with an Adjusted EBITDA margin of 32.2%.
Total operating expenses decreased by 21.0% to $68.2 million, primarily due to lower settlement and impairment charges.
Revenue by Segment
Forward Guidance
For the first quarter of 2025, RE/MAX Holdings expects agent count to increase by 1.0% to 2.0%, revenue to be in the range of $71.0 million to $76.0 million, and Adjusted EBITDA to be between $16.0 million and $18.5 million. For the full year 2025, the company anticipates agent count to change negatively 1.0% to positively 1.0%, revenue in the range of $290.0 million to $310.0 million, and Adjusted EBITDA between $90.0 million and $100.0 million.
Positive Outlook
- Expected agent count increase of 1.0% to 2.0% for Q1 2025.
- Anticipated revenue range of $71.0 million to $76.0 million for Q1 2025.
- Projected Adjusted EBITDA range of $16.0 million to $18.5 million for Q1 2025.
- Full-year 2025 revenue expected between $290.0 million and $310.0 million.
- Full-year 2025 Adjusted EBITDA expected between $90.0 million and $100.0 million.
Challenges Ahead
- Full-year 2025 agent count could potentially decrease by 1.0%.
- The outlook assumes no further currency movements, acquisitions, or divestitures, which could impact actual results.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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