Q4 2025 Real Matters Inc Earnings Call Transcript
Key Points
- Real Matters Inc (RLLMF) launched 10 new clients and 1 new channel in US appraisal in Canada, contributing to solid, positive adjusted EBITDA.
- The US title business expanded by adding 7 new clients, including a second Tier 1 lender, marking a significant milestone.
- The company reported double-digit year-over-year growth in both revenue and net revenue for its US title and Canadian segments.
- Real Matters Inc (RLLMF) maintained strong financial discipline, which allowed for solid operating leverage despite market headwinds.
- The company has a strong balance sheet with no debt and a cash reserve of $40 million as of September 30, 2025.
- Consolidated net revenue decreased modestly to $45 million from $46 million in fiscal 2024.
- The US appraisal segment saw a 7% revenue decline due to a lower addressable market for purchase mortgage originations.
- The company posted an adjusted EBITDA loss of $3.2 million compared to a positive adjusted EBITDA of $1.9 million in fiscal 2024.
- US appraisal net revenue margins decreased by 120 basis points due to the distribution of transaction volumes.
- Operating expenses in the US title segment increased by 16% year over year, primarily due to additional hires to accelerate the deployment of new title clients.
Good day and thank you for standing by. Welcome to the Q4 2025 Real Matters earnings conference call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question-and-answer session. To ask a question during the session, you will need to press 11 on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question, please press 11 again. Please be advised that today's conference is being recorded. I would now like to hand the conference over to your speaker today, Lynn Beauregard, Vice President of Investor Relations and corporate communications. Please go ahead.
Thank you, operator, and good morning everyone. Welcome to Real Matters Financial Results Conference call for the fourth quarter and fiscal year ended September 30, 2025. With me today are Real Matters Chief Executive Officer Brian Lang and Chief Financial Officer Rodrigo Pinto. This morning before
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