Overview

* RE/MAX ( RMAX ) Q3 revenue decreased 6.7% yr/yr, missing analyst expectations

* Adjusted EPS for Q3 missed analyst expectations

* Adjusted EBITDA for Q3 slightly exceeded analyst expectations

Outlook

* RE/MAX expects Q4 2025 revenue between $69.5 mln and $73.5 mln

* Company forecasts full-year 2025 revenue of $290 mln to $294 mln

* RE/MAX anticipates Q4 2025 adjusted EBITDA between $19 mln and $23 mln

Result Drivers

* AGENT COUNT DECLINE - Revenue decline attributed to a decrease in U.S. agent count and changes to fee models, including the Aspire program

* GLOBAL AGENT GROWTH - Total REMAX agent count reached an all-time high, driven by global growth

* INNOVATION INITIATIVES - New offerings like the AI-powered REMAX Marketing as a Service platform and new economic models introduced to enhance value proposition

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Miss $73.3 $73.47

Revenue mln mln (3

Analysts

)

Q3 Miss $0.37 $0.37 (4

Adjusted Analysts

EPS )

Q3 EPS $0.19

Q3 Net $4 mln

Income

Q3 Beat $25.8 $25.75

Adjusted mln mln (4

EBITDA Analysts

)

Q3 35.2%

Adjusted

EBITDA

Margin

Analyst Coverage

* The current average analyst rating on the shares is "hold" and the breakdown of recommendations is no "strong buy" or "buy", 3 "hold" and 1 "sell" or "strong sell"

* The average consensus recommendation for the real estate services peer group is "buy."

* Wall Street's median 12-month price target for Re/Max Holdings Inc ( RMAX ) is $9.00, about 7.8% above its October 29 closing price of $8.30

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)