The Real Brokerage Inc. (NASDAQ:REAX) reported fourth-quarter results on Wednesday that came in ahead of analyst forecasts, driven by strong growth in transactions and agent numbers.
Revenue increased 44% year over year to $505.1 million, exceeding the consensus estimate of $474.78 million. The company posted an adjusted loss per share of $0.02, outperforming the analyst expectation of a $0.03 loss.
Shares of the company rose 1.46% in after-hours trading following the earnings announcement.
The real estate technology platform’s performance was supported by a 38% rise in closed transactions to 48,903, alongside a 31% expansion in its agent network to 31,739.
“Real delivered strong fourth quarter results, with revenue increasing 44% year-over-year and closed transactions growing 38%,” said Chairman and Chief Executive Officer Tamir Poleg. “We ended 2025 with revenue up 56% for the full year and 31,739 agents on our platform, reflecting continued organic share gains despite a tepid housing environment.”
Gross profit for the quarter reached $39.0 million, representing a 30% increase from $30.0 million a year earlier. Operating expenses rose to $44.3 million, up 22% from $36.4 million in the prior-year quarter.
Adjusted EBITDA totaled $14.2 million, compared with $9.1 million in the fourth quarter of 2024.
For the full year 2025, the company generated $65.9 million in cash from operating activities and ended the period with $49.9 million in unrestricted cash and short-term investments, with no outstanding debt. During the year, Real repurchased $39.4 million worth of common shares.
As of March 3, 2026, the platform had grown to more than 33,200 agents, continuing its expansion across all 50 U.S. states and Canada.