Q1 2025 Real Matters Inc Earnings Call Transcript
Key Points
- Real Matters Inc (RLLMF) reported a 16% year-over-year increase in consolidated revenue for the first quarter.
- The company saw a 46% year-over-year increase in refinance origination volumes in the US title segment.
- Real Matters Inc (RLLMF) successfully launched five new clients and one new channel during the quarter.
- The Canadian segment posted a 38% year-over-year revenue increase, benefiting from an improving rate environment.
- The company maintained a strong balance sheet with no debt and $49 million in cash as of December 31, 2024.
- US appraisal net revenue margins decreased by 140 basis points due to geographic, client, and product mix distribution.
- The company recorded a consolidated adjusted EBITDA loss of $1.7 million, up from a $1.1 million loss in the first quarter of fiscal 2024.
- Operating expenses in the US appraisal segment increased by $600,000 year-over-year due to non-recurring claim expenditures and higher legal fees.
- The US title segment recorded an adjusted EBITDA loss of $1.8 million, compared to a $1.6 million loss in the first quarter of fiscal 2024.
- There were restructuring expenses in the quarter, but no future savings or impact on operating expenses or net revenue margins are expected.
Good morning, ladies and gentlemen and welcome to the Real Matters first quarter, 2025 earnings call (Operator Instructions)
I would now like to turn the conference over to Lyne Beauregard. Please go ahead.
Thank you operator and good morning everyone. Welcome to real matters financial results conference call for the first quarter ended December 31st 2024 with me today are Real matters', Chief Executive Officer Brian Lang and Chief Financial Officer Rodrigo Pinto.
This morning before market opened, we issued a news release, announcing results for the three months ended December 31, 2024. The release accompanying slide presentation as well as financial statements and MD and A are posted in the investors section of our website at real matters dotcom.
During the call, we may make certain forward-looking statements which reflect the current expectations of management with respect to our business and the industry in which we operate.
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