RE/MAX Holdings Non-GAAP EPS of $0.30 beats by $0.02, revenue of $76.6M misses by $0.5M (NYSE:RMAX)

RE/MAX Holdings press release (RMAX): Q4 Non-GAAP EPS of $0.30 beats by $0.02.
Revenue of $76.6M (-5.8% Y/Y) misses by $0.5M.
Revenue excluding the Marketing Funds¹ decreased 5.8% to $56.0 million, driven by negative 5.6% organic growth² and adverse foreign currency movements of 0.2%
Net loss attributable to RE/MAX Holdings, Inc. (RMAX) of $10.9 million and loss per diluted share (GAAP EPS) of $0.60
Adjusted EBITDA³ decreased 13.4% to $23.0 million, Adjusted EBITDA margin³ of 30.0%
Total agent count increased 0.6% to 144,835 agents
U.S. and Canada combined agent count decreased 4.2% to 80,299 agents
Total open Motto Mortgage franchises increased 6.5% to 246 offices
For the first quarter of 2024, RE/MAX Holdings expects:
- Agent count to change negative 0.5% to positive 0.5% over first quarter 2023;
- Revenue in a range of $75.0 million to $80.0 million (including revenue from the Marketing Funds in a range of $19.0 million to $21.0 million); and
- Adjusted EBITDA in a range of $16.5 million to $19.5 million.
For the full year 2024, the Company expects:
- Agent count to change negative 0.5% to positive 1.5% over full year 2023;
- Revenue in a range of $300.0 million to $320.0 million (including revenue from the Marketing Funds in a range of $78.0 million to $82.0 million); and
- Adjusted EBITDA in a range of $90.0 million to $100.0 million.

More on RE/MAX Holdings

Symbol	Last Price	% Chg

Symbol	Last Price	% Chg
RMAX	-	-
RE/MAX Holdings, Inc.