Canada · Delayed Price · Currency is CAD Real Matters Earnings Call Transcripts
Fiscal Year 2026
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Q2 2026 saw 27% revenue growth and a return to positive adjusted EBITDA, driven by strong U.S. Appraisal and Title segment performance, new client wins, and robust operating leverage. Capacity investments are planned as volumes and market share continue to rise.
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Shareholders approved all resolutions, including director elections, auditor appointment, and an amendment to the equity incentive plan. Management highlighted strong client growth, strategic investments, and optimism for future market normalization despite current challenges.
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Double-digit revenue and net revenue growth were achieved in Q1 2026, with strong operating leverage and market share gains across all segments. Positive Adjusted EBITDA was delivered despite seasonally low volumes, and the company remains optimistic about further growth as the mortgage market recovers.
Fiscal Year 2025
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Resilient performance in 2025 with strong client growth and double-digit revenue increases in U.S. Title and Canada, despite headwinds in U.S. Appraisal. Optimism for 2026 is driven by pent-up demand, easing rates, and scalable operations, with a robust balance sheet and no debt.
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Q3 2025 saw double-digit sequential growth across all segments, with consolidated revenue up 22% from Q2 and positive adjusted EBITDA. U.S. Title and Canada segments offset declines in U.S. Appraisal, while strong cash reserves and new client wins position the company for future growth.
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Q2 saw double-digit revenue growth in U.S. Title and Canada, offset by declines in U.S. Appraisal due to lower market volumes. Strong cost discipline and a robust balance sheet position the business to capitalize on future mortgage market rebounds.
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Q1 2025 saw 16% revenue growth and a return to net income, driven by strong gains across all segments and new client wins, including a major Tier 1 U.S. Title client expected to double title volume by year-end. Operating leverage improved, and the company remains debt-free with $49 million in cash.
Fiscal Year 2024
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Fiscal 2024 saw revenue and net revenue growth, a return to positive Adjusted EBITDA, and market share gains across all segments. Positioned for growth in 2025, the company expects to benefit from pent-up refinance demand, with strong capacity and planned tech investments.
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Revenues grew 17% sequentially and 8% year-over-year, with strong U.S. appraisal and Canadian performance offsetting U.S. title weakness. Market share gains, robust margins, and a solid balance sheet position the business for growth as mortgage volumes recover.