The Real Brokerage Inc. announced its financial results for the first quarter of 2026. Revenue during the quarter grew 32% year-over-year to $465.6 million. Gross profit grew 24% year-over-year to $42.2 million. Operating expenses also increased (17% year-over-year) to $45.6 million.
Adjusted EBITDA during the quarter was $14.9 million, compared to $8.3 million in Q1 2025. Cash provided by operating activities totaled $23.3 million. The total number of agents and total number of transactions closed both grew 25% year-over-year. Total value of completed real estate transactions reached $16.8 billion, up 24% from the first quarter of 2025.
“Real delivered another quarter of significant growth, with revenue increasing 32% year-over-year, demonstrating the continued strength of our platform and agent value proposition,” said Tamir Poleg, Real Chairman and Chief Executive Officer. “The agreement to acquire RE/MAX Holdings Inc. (“REMAX”) represents a defining moment in our history and in our industry – by combining Real’s technology-driven brokerage with one of the industry’s most iconic and trusted brands we will create the preeminent real estate platform of the future.”
The One Real Title and One Real Mortgage segments both generated $1.3 million in revenue during the quarter, representing a 22% and 20% year-over-year increase respectively. More than 8,000 Real agents utilized Real Wallet as of May 2026, representing a total deposit balance of $25.3 million.
In April, the company announced its definitive agreement to acquire RE/MAX Holdings, Inc. and its plans to form a new holding company called Real REMAX Group.
“Q1 tells a compelling story about the breadth of what we are building – both agent count and transaction count increased 25%, while all three ancillary businesses each posted strong revenue growth, validating that agents and their clients are adopting the full Real ecosystem,” said Jenna Rozenblat, Real Chief Operating Officer. “The platform is working, and the combination with REMAX provides a step-change in the scale through which we can deliver it.”
The company ended the quarter with cash and cash equivalents of $62.9 million and no debt.
