RE/MAX Holdings, Inc.

Listed Company

RMAXCIK 0001581091NYSEAcceleratedReal Estate Agents & Managers (For Others)ColoradoFY ends Dec 31

Period

FY 2025

Revenue

$291.60M

Net Income

$13.43M

Total Assets

—

Equity

—

Shares Out

—

Op. Cash Flow

$40.88M

Business

RE/MAX Holdings, Inc. is a franchisor in the real estate and mortgage industries that grants rights to operate brokerages under the RE/MAX® and Motto® brands and provides supporting services through wemlo®. It offers franchising, brand licensing, agent education, technology platforms, marketing services, and mortgage loan processing and origination support. The company reports three business segments: Real Estate (RE/MAX franchising and shared services), Mortgage (Motto franchising and wemlo services) and Marketing Funds. Its offerings are distributed through a global network of franchisees and agents, supplemented by digital platforms and marketing channels, with primary operations in the U.S. and Canada.

Summary from filing dated 2025-02-20

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Total revenue	292	308	326	353	330
Selling, operating and administrative expenses	147	152	172	174	179
Marketing Funds expenses	73	79	84	90	82
Depreciation and amortization	26	30	32	36	31
Settlement and impairment charges	−2	5	74	—	—
Change in estimated tax receivable agreement liability	715,000	1	−25	−702,000	—
Total operating expenses	245	268	336	315	340
Operating income (loss)	47	40	−11	38	−10
Interest expense	−32	−36	−36	−21	—
Interest income	4	4	4	1	217,000
Foreign currency transaction gains (losses)	705,000	−1	419,000	−641,000	−839,000
Total other expenses, net	−27	−34	−31	−20	−12
Income (loss) before provision for income taxes	20	6	−42	18	−22
Provision for income taxes	−6	2	−57	−7	−2
Net income (loss)	13	8	−98	11	−25
Less: net income (loss) attributable to non-controlling interest	5	954,000	−29	5	−9
Net income (loss) attributable to RE/MAX Holdings, Inc.	8	7	−69	6	−16

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	119	97	83	109	126
Restricted cash	74	73	43	29	32
Accounts and notes receivable, net of allowances	27	28	33	33	35
Income taxes receivable	8	8	2	2	2
Other current assets	12	14	—	—	—
Total current assets	240	219	177	193	211
Property and equipment, net of accumulated depreciation	6	8	9	10	13
Operating lease right of use assets	13	18	23	26	37
Franchise agreements, net	67	81	102	120	144
Other intangible assets, net	11	13	19	26	33
Goodwill	240	237	241	259	269
Income taxes receivable, net of current portion	—	355,000	—	754,000	2
Other assets, net of current portion	6	6	—	—	—
Total assets	582	582	577	695	776
Accounts payable	4	6	5	6	5
Accrued liabilities	101	111	107	71	97
Income taxes payable	105,000	541,000	—	—	—
Deferred revenue	21	23	23	28	27
Debt	5	5	5	5	5
Payable pursuant to tax receivable agreements	2	2	822,000	2	4
Operating lease liabilities	9	9	8	7	6
Total current liabilities	142	155	149	120	146
Debt, net of current portion	432	436	440	444	447
Deferred tax liabilities	8	8	11	13	15
Deferred revenue, net of current portion	13	15	18	18	19
Operating lease liabilities, net of current portion	14	23	31	38	46
Other liabilities, net of current portion	3	3	4	6	7
Total liabilities	611	640	653	664	707
Commitments and contingencies	—	—	—	—	—
Additional paid-in capital	578	565	551	536	515
Accumulated deficit	−126	−134	−140	−54	−8
Accumulated other comprehensive income (deficit), net of tax	54,000	−2	638,000	−395,000	650,000
Total stockholders' equity attributable to RE/MAX Holdings, Inc.	452	429	411	481	508
Non-controlling interest	−481	−488	−487	−449	−439
Total stockholders' equity (deficit)	−29	−58	−76	32	69
Total liabilities and stockholders' equity (deficit)	582	582	577	695	776

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Equity-based compensation expense	17	19	20	22	34
Bad debt expense	3	1	7	3	−1
Deferred income tax expense (benefit)	−455,000	−2	49	−183,000	−3
Fair value adjustments to contingent consideration	−109,000	−225,000	−533,000	−133,000	309,000
Non-cash settlement and impairment charges	401,000	5	74	—	—
Net settlement payments	−6	5	55	—	—
Non-cash debt charges	880,000	863,000	860,000	861,000	905,000
Payment of contingent consideration in excess of acquisition date fair value	—	−360,000	—	—	—
Change in estimated tax receivable agreement liability	763,000	1	−25	—	—
Other, net	1	−30,000	468,000	47,000	−113,000
Accounts and notes receivable, net of allowances	−4	8	−8	3	3
Payments pursuant to tax receivable agreements	−757,000	−504,000	−440,000	−3	−3
Income taxes receivable/payable	−314,000	−7	298,000	−871,000	−10
Deferred revenue, current and noncurrent	−4	−3	−5	58,000	137,000
Other assets and liabilities	−7	−674,000	−17	—	—
Net cash provided by operating activities	41	60	28	71	42
Purchases of property, equipment and capitalization of software	−7	−7	−6	−10	−15
Other	−408,000	746,000	776,000	−2	319,000
Net cash used in investing activities	−8	−6	−6	−12	−195
Payments on debt	−5	−5	−5	−5	−227
Debt amendment costs	−245,000	—	—	—	−4
Distributions paid to non-controlling unitholders	—	—	−9	−14	−14
Dividends and dividend equivalents paid to Class A common stockholders	−498,000	−599,000	−14	−18	−18
Payments related to tax withholding for share-based compensation	−5	−3	−4	−7	−5
Common shares repurchased	—	—	−3	−34	—
Payment of contingent consideration	−791,000	—	−1	−1	−869,000
Other financing	−27,000	1,000	—	—	—
Net cash used in financing activities	−11	−8	−36	−78	189
Effect of exchange rate changes on cash	1	−2	831,000	−2	300,000
Net decrease in cash, cash equivalents and restricted cash	24	44	−12	−20	37
Cash paid for interest	31	36	35	20	11
Net cash paid for income taxes	7	7	7	7	15

Filings

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