The Real Brokerage Inc. announced its financial results for the second quarter of 2025. Total real estate transactions reached $20.1 billion, a 60% increase from the same quarter of 2024. Total number of transactions closed was 49,282, while the total number of agents grew 43% year-over-year.
Total revenue during the quarter was $540.7 million, up from $340.8 million in the same quarter last year, with gross profit of $47.9 million. Adjusted EBITDA was $20 million, an improvement from $14 million during the second quarter of 2024.
“Real delivered standout financial performance in the second quarter, despite a challenging macro backdrop,” said Ravi Jani, Real Chief Financial Officer. “Our disciplined financial approach is clearly yielding results, and we remain focused on driving long-term shareholder value. Given our strong cash generation and confidence in our outlook, we expect to increase our pace of share repurchases in the second half of the year.”
The company’s acquisition of Flyhomes AI-powered consumer home search portal in July offered deep MLS-integrations and real-time market insights that the company believes will be a major step toward delivering an end-to-end, AI-driven buying experience. Its Real Wallet financial technology platform now has 3,600 Real agents utilizing it for business checking accounts with 850 using the Real Wallet Tax Planning business checking accounts.
“This quarter marks a pivotal moment for Real, as we proudly announce our first-ever quarter of positive net income,” said Tamir Poleg, Real Chairman and Chief Executive Officer. “This milestone is a testament to the scalability of our technology and the efficiency of our operating model. We continue to make progress across our ecosystem, including expanding the utility of Real Wallet for our agents, and the significant potential unlocked by our recent acquisition of Flyhomes’ consumer home search portal. Our commitment to building a differentiated, high-value platform that attracts top talent and empowers real estate professionals positions us well for continued long-term growth and success.”
Operating activities during the quarter generated $41 million. The company ended the quarter with $54.8 million in unrestricted cash and cash equivalents and short-term investments with no debt.
