Real Brokerage
Runs a cloud brokerage platform with mortgage, title, wallet, and AI tools.
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Profile
Operates a digital residential brokerage across the U.S. and Canada, earning mainly from agent-led home transactions. The platform adds reZEN workflow software, Leo CoPilot, HeyLeo, One Real Title, One Real Mortgage, and Real Wallet around a brokerage model built for distributed agents.
Operates a fully digital residential brokerage model across the U.S. and Canada, without a traditional branch network except where local law requires it. Core revenue comes from commissions on residential transactions completed by affiliated agents.
Built around the agent platform, reZEN handles transaction management, commission processing, compliance workflow, and integrations. Leo CoPilot and HeyLeo add AI support for agents and consumers, while One Real Title, One Real Mortgage, and Real Wallet extend the service stack.
Execution depends on recruiting and retaining agents, residential transaction volume, mortgage financing conditions, and compliance across brokerage, mortgage, title, wallet, and antitrust-related rules. The pending RE/MAX transaction was not closed in the context sources, so RE/MAX is not treated as a current business line.
Company facts
Categories
Key statistics
Year to date −42.8% · Average volume (30d) 734.5K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 27, 2026 | BTIG | Reiterate | Buy | $4.25 | $35 | |
| Aug 7, 2026 | Zelman | Upgrade | Outperform | |||
| Apr 15, 2026 | BTIG | Reiterate | Buy | $4.25 | ||
| Mar 5, 2026 | Zelman& Assoc | Downgrade | Outperform | Neutral |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 6, 2026Q2 FY26 | $0.01 | −$0.03 | −549.8% | $652.5M | $700.6M | +7.4% | +15.03% |
| May 7, 2026Q1 FY26 | −$0.03 | −$0.02 | +33.3% | $474.8M | $465.6M | −2.0% | −8.52% |
| Mar 4, 2026Q4 FY25 | −$0.03 | −$0.02 | +33.3% | $483.7M | $505.1M | +4.4% | −5.80% |
| Oct 30, 2025Q3 FY25 | −$0.02 | $0.00 | +89.8% | $478.0M | $568.5M | +18.9% | +7.20% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $354.0M | $540.7M | $568.5M | $505.1M | $465.6M | $700.6M | |
| Gross profit | $33.9M | $47.9M | $44.9M | $39.0M | $42.2M | $58.3M | |
| Operating income | −$5.2M | $1.7M | −$473.0K | −$4.5M | −$3.1M | $4.6M | |
| Net income | −$5.0M | $1.5M | −$447.0K | −$4.2M | −$3.4M | −$8.0M | |
| Diluted EPS | −$0.02 | $0.01 | −$0.00 | −$0.02 | −$0.15 | −$0.30 | |
| Gross margin | 9.6% | 8.9% | 7.9% | 7.7% | 9.1% | 8.3% | |
| Operating margin | -1.5% | 0.3% | -0.1% | -0.9% | -0.7% | 0.6% |
Fiscal years (4-quarter sums)FY21 $121.7M · FY22 $381.8M · FY23 $689.2M · FY24 $1.26B · FY25 $1.97B
Balance sheet, Jun 30, 2026Cash & short-term investments $86.6M · Total debt $0 · Total assets $213.4M · Shareholders' equity $78.7M
Dividends
No dividends on record.
Ownership
Shares outstanding 21.79M · Float 14.73M · 67.6% free float
Insider tradesForm 4
Nothing filed in the last 12 months.
View detailsPeers
- eXp World
Cloud brokerage peer competing hardest for agents and teams
- Compass
Scaled brokerage and franchise rival after the Anywhere merger
- RE/MAX
Pending acquisition target with a global real estate franchise network
- Fathom
Smaller tech-enabled brokerage with mortgage, title and SaaS overlap
- Zillow Group Class A
Consumer portal and agent-software rival across the transaction funnel
- Douglas Elliman
Luxury and metro brokerage competitor with title and mortgage adjacency
- Rocket Companies
Mortgage-led homeownership platform now owning Redfin brokerage
- Opendoor Technologies
iBuyer and digital seller platform overlapping with home-sale services
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Real Brokerage | $21.35 | +1.14% | $459.6M | — | 287.9 | 0.2 | +29.6% |
| eXp World | $4.73 | +3.28% | $753.3M | — | 51.6 | 0.2 | +5.3% |
| Compass | $10.99 | +0.23% | $6.67B | 102.1 | 150.6 | 0.6 | +109.1% |
| RE/MAX | $12.36 | −9.25% | $249.0M | — | 9.5 | 0.9 | −5.8% |
| Fathom | $0.6818 | −0.01% | $22.6M | — | — | 0.1 | −5.6% |
| Zillow Group Class A | $36.87 | +0.72% | $8.80B | 165.7 | 14.3 | 3.1 | +17.9% |
| Douglas Elliman | $1.83 | 0.00% | $166.4M | 10.8 | 3.9 | 0.2 | +4.5% |
| Rocket Companies | $13.80 | +0.22% | $38.89B | 94.3 | 19.0 | 4.0 | +113.7% |
| Opendoor Technologies | $3.29 | −0.12% | $3.17B | — | — | 1.0 | −43.7% |
| Median | 98.2 | 16.7 | 0.8 | +4.9% |