The Real Brokerage Inc. (REAX) — Financial statements
Income statement, balance sheet, and cash flow for The Real Brokerage Inc. — annual and quarterly history with growth and margin analysis.
| Metric (USD Millions) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
| Revenue & Gross Profit | ||||||
| Revenue | 1,968↑55.7% | 1,265↑83.5% | 689↑80.5% | 382↑213.7% | 122 | |
| Cost of Revenue | 1,805↑56.9% | 1,150↑83.6% | 626↑79.0% | 350↑216.3% | 111 | |
| Gross Profit | 164↑42.7% | 115↑82.5% | 63↑96.8% | 32↑188.0% | 11 | |
| Operating Expenses | ||||||
| R&D Expenses | 17↑43.5% | 12↑65.2% | 7↑51.2% | 5↑22.3% | 4 | |
| General & Administrative Expenses | 89↑25.6% | 71↑65.1% | 43↑77.7% | 24↑128.5% | 11 | |
| Selling & Marketing Expenses | 66↑42.1% | 46↑20.0% | 39↑70.3% | 23↑190.4% | 8 | |
| SG&A Expenses | 155↑32.1% | 117↑43.7% | 82↑74.1% | 47↑154.8% | 18 | |
| Other Expenses | 0.00↓100.0% | 11 | 0.00↑100.0% | -0.58↓132.1% | -0.25 | |
| Operating Expenses | 172↑23.1% | 140↑57.5% | 89↑73.9% | 51↑131.2% | 22 | |
| Total Costs & Expenses | 1,977↑53.3% | 1,290↑80.4% | 715↑78.4% | 401↑202.1% | 133 | |
| Operating Results | ||||||
| Operating Income | -8↑66.3% | -25↑3.0% | -26↓35.7% | -19↓74.0% | -11 | |
| Depreciation & Amortization | 2↑38.2% | 1↑23.8% | 1↑238.7% | 0.33↑56.3% | 0.21 | |
| EBITDA | -7↑73.4% | -25↑3.2% | -25↓30.4% | -20↓76.9% | -11 | |
| EBIT | -8↑67.4% | -26↑2.0% | -27↓34.5% | -20↓75.7% | -11 | |
| Interest & Other Income | ||||||
| Net Interest Income | -0.55↑50.7% | -1↓1551.5% | -0.07↑92.8% | -0.94↓968.2% | -0.09 | |
| Interest Income | 0.00 | 0.00 | 0.00 | 0.00↓100.0% | 0.01 | |
| Interest Expense | 0.55↓50.7% | 1↑1551.5% | 0.07↓92.8% | 0.94↑830.7% | 0.10 | |
| Non-Operating Income | 0.00↓100.0% | 0.85↑39.3% | 0.61↑1146.9% | 0.05 | 0.00 | |
| Other Income / Expenses | -0.31↑74.8% | -1↓1.7% | -1↓104.8% | -0.59↓42.6% | -0.41 | |
| Income Before Tax | -9↑66.7% | -26↑2.8% | -27↓33.8% | -20↓74.1% | -12 | |
| Income Tax Expense | -0.74 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Net Income & EPS | ||||||
| Net Income from Continuing Operations | -8↑69.5% | -26↑2.8% | -27↓33.8% | -20↓74.1% | -12 | |
| Net Income from Discontinued Operations | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Net Income | -8↑69.5% | -27↑3.5% | -28↓33.6% | -21↓66.7% | -12 | |
| Bottom-Line Net Income | -8↑69.5% | -27↑3.5% | -28↓33.6% | -21↓76.2% | -12 | |
| EPS (Basic) | -0.04↑73.6% | -0.14↑6.7% | -0.15↓25.0% | -0.12↓70.5% | -0.07 | |
| EPS (Diluted) | -0.04↑73.6% | -0.14↑6.7% | -0.15↓25.0% | -0.12↓73.9% | -0.07 | |
| Weighted Average Shares | 220↑15.0% | 191↑7.3% | 178↓0.0% | 178↑1.7% | 175 | |
| Weighted Average Diluted Shares | 220↑15.0% | 191↑7.3% | 178↓0.0% | 178↓0.4% | 179 | |
* All figures in Millions of USD, except per share data. Growth rates calculated Year-over-Year (YoY). Data source: SEC Filings.