07:53 AM EDT, 05/07/2024 (MT Newswires) -- Real Matters ( RLLMF ) , a provider of a network management services platform for the mortgage and insurance industries, on Tuesday said it swung to an adjusted profit in its fiscal second quarter.

The company reported an adjusted net income of US$1.3 million, or US$0.02 per share, compared to an adjusted loss of US$1.9 million, or a loss of US$0.03 per share, for the second quarter, which concluded on March 31.

Revenue increased to US$42.2 million from US$37.6 million and adjusted EBITDA improved to US$700,000 from an adjusted EBITDA loss of US$1.7 million.

Real Matters ( RLLMF ) attributed the earnings improvement to market share gains.

"While the mortgage market continues to face interest rate and affordability headwinds, our business model, focus on market share, and operating efficiency are delivering improved financial performance," CEO Brian Lang said. "We are well-positioned for growth when market conditions improve and the business scales back up."

Separately, Real Matters ( RLLMF ) announced the resignation of Lisa Melchior from the board of directors. Kay Brekken took Melchior's spot on the board.