RE/MAX Holdings, Inc. (RMAX) Earnings Call Transcripts
RE/MAX Holdings, Inc.'s Latest Earnings Call - April 27, 2026
In the first quarter of fiscal year 2026, RE/MAX Holdings, Inc. announced a transformative acquisition by Real Brokerage, Inc., which is expected to create a leading technology-enabled global real estate platform. The transaction is valued at $880 million, with pro forma revenue projected at approximately $2.3 billion and adjusted EBITDA at $157 million for 2025. Management highlighted that the combination will enhance operational efficiencies and drive significant value creation for agents and franchisees, while maintaining the distinct identities of both brands.
Reported metrics
| Metric | Value |
|---|---|
| Transaction Value | $880 million (null) |
| Pro Forma Revenue | $2.3 billion (null) |
| Adjusted EBITDA | $157 million (null) |
| Cost Synergies | $30 million (null) |
| Consolidated Margin Expansion | 100 basis points (null) |
| Agent Count | 180,000 (null) |
Guidance from management
Management expects the transaction to be accretive to earnings and adjusted EBITDA margins within the first full fiscal year following the close, excluding merger-related expenses. They aim to achieve a target 2x net debt to adjusted EBITDA leverage ratio by the end of the second fiscal year post-close.
What management said
Yes. Thanks for the question, Matt. And all the details will be filed in our filings, in the agreement and the proxy that Alix mentioned. So happy to get into some of the technical details off-line, but the noncontrolling interest will be converted into RE/MAX shareholders and then ultimately merged into the [indiscernible]. So that's more of -- the technical mechanics are a little bit more nuanced than that, but yes...
Yes. So there's no change of control out or anything in the franchise agreements. So hopefully, that helps on the first question. On the second question, I appreciate the question. I think we'll defer to the proxy when all the details will come out. But needless to say, both companies are very excited about the opportunity ahead to operate and deliver value as a combined company for all of our stakeholders.
What analysts pressed on
Analysts raised questions regarding the integration process and potential execution risks. Concerns were expressed about how RE/MAX's franchisees would adapt to the new technology and whether the integration would disrupt existing operations.
Main topics on the call
- Acquisition Announcement — RE/MAX announced a definitive agreement to be acquired by Real Brokerage for an enterprise value of $880 million. CEO Tamir Poleg stated, "This is a transformational combination... the most innovative technology and fast...
- Financial Projections — The pro forma combined entity is expected to generate approximately $2.3 billion in revenue and $157 million in adjusted EBITDA for 2025. This reflects a significant growth trajectory as stated by management, emphasizing...
- Cost Synergies — Management anticipates realizing approximately $30 million in annual run rate cost synergies, with the majority expected to be realized by 2027. Ravi Jani noted, "This translates to approximately 100 basis points of cons...
- Technology Integration — The acquisition aims to leverage Real's proprietary technology platform, reZEN, to enhance operational efficiencies for RE/MAX agents and franchisees. Poleg emphasized that agents will have access to "better tools, bigge...
Read the full RE/MAX Holdings, Inc. transcript (April 27, 2026) → Summary generated from the call transcript; every figure above is stated by management on the record.
About RE/MAX Holdings, Inc.
RE/MAX Holdings, Inc. (RMAX) is a publicly listed company in the Real Estate Management and Development industry, within the Real Estate sector. It trades on NYSE and is based in US. EarningsCalls.dev maintains a free, full-text archive of its earnings call transcripts — 29 calls on record spanning February 21, 2020 to April 27, 2026. Every transcript is split into speaker-by-speaker segments with headline metrics, free to read or available through our REST API.
Earnings Call History
EarningsCalls.dev has 29 RE/MAX Holdings, Inc. earnings call transcripts on record, spanning February 21, 2020 to April 27, 2026. Based on this history, RE/MAX Holdings, Inc. reports quarterly. The most recent call on file is dated April 27, 2026. The full list is below — each row opens the complete, free-to-read transcript.
- Ticker
- RMAX
- Exchange
- NYSE
- Country
- US
- Sector
- Real Estate
- Calls on record
- 29
- First call
- February 21, 2020
- Most recent
- April 27, 2026
- Reporting cadence
- quarterly