RE/MAX Holdings, Inc. Fourth Quarter and Full-Year 2024 Earnings February 21, 2025 Forward-Looking Statements This presentation includes "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements are often identified by the use of words such as "believe," "intend," "expect," "estimate," "plan," "outlook," "project," "anticipate," "may," "will," "would" and other similar words and expression ...

Core Insights - RE/MAX reported revenue of $72.47 million for the quarter ended December 2024, reflecting a year-over-year decline of 5.4% and an EPS of $0.30, unchanged from the previous year [1] - The revenue fell short of the Zacks Consensus Estimate of $75.6 million, resulting in a surprise of -4.14%, while the EPS exceeded the consensus estimate of $0.29 by 3.45% [1] Financial Performance Metrics - RE/MAX's agent count outside the U.S. and Canada totaled 70,170, surpassing the average estimate of 69,085 [4] - The total agent count was 146,627, slightly above the average estimate of 146,114 [4] - The U.S. total agent count was 51,286, below the average estimate of 51,643 [4] - In Canada, the independent regions had an agent count of 4,860, compared to the average estimate of 5,010 [4] - Company-owned regions in the U.S. had an agent count of 44,911, below the average estimate of 45,373 [4] - Independent regions in the U.S. had an agent count of 6,375, slightly above the average estimate of 6,270 [4] - Company-owned regions in Canada had an agent count of 20,311, close to the average estimate of 20,376 [4] Revenue Breakdown - Revenue from marketing funds fees was $18.65 million, below the average estimate of $19.53 million, representing a year-over-year decline of 9.4% [4] - Continuing franchise fees generated $29.79 million, compared to the average estimate of $30.66 million, reflecting a decline of 5.1% year over year [4] - Franchise sales and other revenue amounted to $4.53 million, below the average estimate of $5.03 million, indicating a year-over-year change of -6.7% [4] - Broker fees were reported at $11.66 million, slightly below the average estimate of $11.78 million, with a year-over-year increase of 1% [4] - Annual dues revenue was $7.84 million, below the average estimate of $8.30 million, representing a year-over-year decline of 4.9% [4] Stock Performance - Over the past month, RE/MAX shares returned +2%, compared to the Zacks S&P 500 composite's +2.6% change [3] - The stock currently holds a Zacks Rank 4 (Sell), indicating potential underperformance relative to the broader market in the near term [3]

Core Viewpoint - RE/MAX reported quarterly earnings of $0.30 per share, exceeding the Zacks Consensus Estimate of $0.29 per share, with a year-over-year comparison showing no change in earnings per share [1][2] Financial Performance - The company posted revenues of $72.47 million for the quarter ended December 2024, which was 4.14% below the Zacks Consensus Estimate and down from $76.6 million in the same quarter last year [2] - Over the last four quarters, RE/MAX has surpassed consensus EPS estimates four times and topped consensus revenue estimates twice [2] Stock Performance - RE/MAX shares have declined approximately 1.9% since the beginning of the year, while the S&P 500 has gained 4.5% [3] - The stock currently holds a Zacks Rank 4 (Sell), indicating expectations of underperformance in the near future [6] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.17 on revenues of $78.12 million, and for the current fiscal year, it is $1.31 on revenues of $311.44 million [7] - The trend of estimate revisions for RE/MAX has been unfavorable leading up to the earnings release [6] Industry Context - The Real Estate - Operations industry, to which RE/MAX belongs, is currently ranked in the bottom 13% of over 250 Zacks industries, suggesting potential challenges ahead [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which could impact RE/MAX's stock performance [5]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended: December 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-36101 RE/MAX Holdings, Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporat ...

Financial Performance - Total revenue for Q4 2024 was $72.5 million, a decrease of 5.4% compared to Q4 2023[3] - Revenue excluding Marketing Funds decreased 3.9% to $53.8 million, driven by negative organic growth of 3.5% and adverse foreign currency movements of 0.4%[5] - Adjusted EBITDA increased 1.6% to $23.3 million, with an Adjusted EBITDA margin of 32.2%[11] - Net income attributable to RE/MAX Holdings was $5.8 million, with GAAP EPS of $0.29, compared to a net loss of $10.9 million in Q4 2023[9] - Total operating expenses for Q4 2024 were $68.2 million, a decrease of 21.0% compared to Q4 2023[7] - For Q4 2024, RE/MAX Holdings reported a net income of $4,080,000, a significant improvement from a net loss of $18,379,000 in Q4 2023[36] - Adjusted EBITDA for Q4 2024 was $23,341,000, compared to $22,976,000 in Q4 2023, reflecting an adjusted EBITDA margin of 32.2%[36] - Adjusted net income for the year ended December 31, 2024, was $41,494,000, slightly down from $41,695,000 in 2023[40] - Adjusted EBITDA for 2024 was $97,700 million, slightly up from $96,288 million in 2023, indicating a growth of 1.5%[46] Agent Count and Franchise Operations - Total agent count increased 1.2% to 146,627 agents, while U.S. and Canada combined agent count decreased 4.8% to 76,457 agents[4] - Total open Motto Mortgage franchises decreased 8.5% to 225 offices[3] - The total agent count in the U.S. decreased to 51,286 in Q4 2024 from 55,131 in Q4 2023, indicating a decline of approximately 7% year-over-year[34] - The total number of independent regions outside the U.S. and Canada increased to 70,170 in Q4 2024, up from 64,536 in Q4 2023, representing an increase of about 8%[34] Cash and Liquidity - Cash and cash equivalents as of December 31, 2024, were $96.6 million, an increase of $14.0 million from the previous year[13] - Cash and cash equivalents increased to $96,619,000 as of December 31, 2024, up from $82,623,000 in 2023[30] - Total current assets rose to $218,511,000 in 2024, compared to $176,565,000 in 2023, reflecting a growth of 23.7%[30] - The company reported a net cash provided by operating activities of $59,652,000 for the year ended December 31, 2024, compared to $28,264,000 in 2023[32] - Cash flow from operations for the year ended December 31, 2024, was $59,652 million, a significant increase from $28,264 million in 2023, representing a growth of 111%[46] - Adjusted free cash flow reached $51,002 million in 2024, up from $35,670 million in 2023, marking an increase of 43%[46] - Unencumbered cash generated amounted to $46,402 million in 2024, an increase from $31,058 million in 2023, which is a rise of 49%[46] Debt and Expenses - Total liabilities decreased to $639,988,000 in 2024 from $653,211,000 in 2023, a reduction of 2%[30] - Interest expense for the year ended December 31, 2024, was $36,258,000, compared to $35,741,000 in 2023, indicating a slight increase[36] - Debt principal payments remained consistent at $4,600 million for both years, indicating stable debt management[46] Strategic Initiatives - The company restructured its support services in Q4 2024 to enhance customer experience, alongside a reduction in force announced in Q3 2023 aimed at long-term cost savings[42] - The company emphasizes that adjusted free cash flow is a key measure for assessing cash available for strategic opportunities, including acquisitions and reinvestments[58] Dividends and Shareholder Returns - RE/MAX Holdings, Inc. declared no cash dividends for the year ended December 31, 2024, compared to $0.69 per share in 2023[28] - The weighted average shares of Class A common stock outstanding increased to 18,921,229 in Q4 2024 from 18,253,608 in Q4 2023[28] - Total basic pro forma shares outstanding increased to 31,480,829 in Q4 2024 from 30,813,208 in Q4 2023, reflecting a growth of approximately 2.2%[44]

Earnings Announcement and Conference Call - RE/MAX Holdings, Inc will release financial results for Q4 and full year 2024 after market close on February 20, 2025 [1] - The company will host a conference call and webcast on February 21, 2025 at 8:30 AM Eastern Time [1] - Investors can register for the telephonic conference call in advance and will receive dial-in information, a unique passcode, and registrant ID [3] - The webcast will be available on the Investor Relations website for a limited time after the call [2] Company Overview - RE/MAX Holdings, Inc is a leading global franchisor in the real estate industry, operating under the RE/MAX and Motto Mortgage brands [4] - The company franchises real estate brokerages globally and mortgage brokerages within the US [4] - RE/MAX was founded in 1973 and has an entrepreneurial culture that allows agents and franchisees to operate with great independence [4] - The company has over 140,000 agents in nearly 9,000 offices across more than 110 countries and territories [4] - RE/MAX sells more real estate than any other company worldwide, as measured by total residential transaction sides [4] - Motto Mortgage, launched in 2016, is the first and only national mortgage brokerage franchise brand in the US, with over 225 offices across more than 40 states [4]

Saxton to lead strategic initiatives, focusing on building upon the industry's best solutions, by incorporating new franchise business systems and industry-leading technology to align brand, marketing, coordination and innovation.DENVER, Jan. 21, 2025 /PRNewswire/ -- RE/MAX Holdings, Inc. (the "Company" or "RE/MAX Holdings") (NYSE:RMAX), parent company of RE/MAX, one of the world's leading franchisors of real estate brokerage services, and Motto Mortgage, the first and only national mortgage brokerage franc ...

December Continues Momentum, Marking Eighth Month of 2024 to Surpass 2023 Sales DENVER , Jan. 16, 2025 /PRNewswire/ -- December became the eighth month of 2024 to top 2023, with home sales up 13.3% over December 2023 and 4.4% above November 2024. The number of homes for sale in the 52 metro markets surveyed remained 22.0% higher year over year but dropped 12.4% from November, reflecting seasonal trends. Additionally, new listings rose 7.5% year over year after a 24.9% drop from November, in contrast to dec ...

Lim, former President of Christie's International Real Estate and founder of Climb Real Estate, to spearhead U.S. growth, strengthen affiliate support and enhance affiliate experience for the real estate franchisor. DENVER, Jan. 14, 2025 /PRNewswire/ -- RE/MAX Holdings, Inc. (the "Company" or "RE/MAX Holdings") (NYSE:RMAX), parent company of RE/MAX, one of the world's leading franchisors of real estate brokerage services, today announced industry veteran Chris Lim is joining RE/MAX as Executive Vice Preside ...

After a few months of weakening data, home sales reports finally ticked higher, giving investors new hope for a rebound in the real estate sector. However, there is no reason to start celebrating yet, as other factors and themes need to fall back into line before the skies are clear for the industry. One month of positive data isn’t enough to erase quarters of contraction. Be that as it may, it doesn’t mean that nobody could come out a winner from this situation, as there is a more significant trend behind ...