Key facts
- Real Brokerage reported Q2 revenue of $700.6 million, up 30% year-over-year.
- Gross profit increased 22% to $58.3 million, and adjusted EBITDA rose 38% to $27.6 million.
- The company posted an $8 million net loss due to $11.6 million in acquisition-related expenses.
- Agent count grew 26% to 35,348, with closed transactions up 27% and volume up 31%.
- The acquisition of REMAX is expected to close in the second half of 2026, pending shareholder approval.
- Real launched Leo 2.0, an AI-powered platform designed to improve agent productivity.
The Real Brokerage reported strong second-quarter financial results, with revenue increasing 30% year-over-year to $700.6 million, driven by growth in its agent count and transaction volume. The company also announced progress on its planned acquisition of REMAX, which is expected to close in the second half of 2026.
During the earnings call, executives highlighted a 26% increase in agent count to 35,348 and a 27% rise in closed transactions. Despite a challenging housing market, the company achieved significant growth and improved core profitability, though it reported an $8 million net loss primarily due to $11.6 million in acquisition-related expenses for the REMAX deal. Real ended the quarter with $86.6 million in unrestricted cash and no debt.
CEO Tamir Poleg emphasized that the company's focus on supporting real estate professionals and its AI-enabled technology platform are key to its differentiated growth. He stated that the REMAX transaction is a crucial step in the company's evolution, bringing together REMAX's global brand and agents with Real's technology.
Investment in artificial intelligence remains central to Real's strategy, with the beta launch of Leo 2.0, an AI-powered relationship management platform that integrates with major CRM systems. The company also plans to integrate its mortgage and title businesses into the AI platform to enhance agent productivity and client services.
Ancillary businesses, including Real Wallet, One Real Title, and One Real Mortgage, also showed solid growth, with combined revenue increasing 28% to $4.2 million. Real Wallet alone saw a 140% revenue jump.
Integration planning for the REMAX acquisition is underway, with an integration management office established. The combined entity, tentatively named Real REMAX Group, is expected to unite REMAX's network of over 140,000 agents with Real's technology platform. The company anticipates approximately $30 million in cost synergies within three years post-closing.
Looking ahead, Real expects typical seasonal declines in revenue and adjusted EBITDA for the third quarter. If the REMAX acquisition closes, the company plans to provide a combined operating baseline and preliminary 2027 guidance in November.