Q3 2025 Real Matters Inc Earnings Call Transcript
Key Points
- Real Matters Inc (RLLMF) delivered double-digit sequential growth in all three segments in the third quarter.
- Consolidated revenues were up 22% from the second quarter of 2025, driven by a seasonal uptick in purchase origination market volumes.
- The company added four new clients during the third quarter and secured several notable wins, including the launch of a second Tier 1 lender in US Title.
- US Appraisal revenues increased by 22% sequentially, and the segment maintained its target operating model for the 11th consecutive quarter.
- Real Matters Inc (RLLMF) has a strong balance sheet with no debt and $43.8 million in cash, positioning it well for future growth opportunities.
- The third quarter saw a softer spring market than expected due to enduring affordability issues, high rates, and a volatile macro environment.
- US Appraisal segment revenues were down 13% year-over-year, primarily due to a lower addressable market and a temporary reallocation of market share.
- Consolidated revenue and net revenue were down 8% and 10% year-over-year, respectively, due to lower US Appraisal segment revenues.
- US Title segment recorded an adjusted EBITDA loss of $1.7 million, although this was an improvement from the previous year's loss.
- Net revenue margins in the US Appraisal segment decreased by 140 basis points year-over-year, mainly due to the distribution of transaction volumes.
Good day, and thank you for standing by. Welcome to the Q3 2025 Real Matters earnings conference call. (Operator Instructions) Please be advised that today's conference is being recorded.
I would now like to hand the conference over to your first speaker today, Lyne Beauregard, Vice President, 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 third quarter ended June 30, 2025. 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 our results for the three and nine months ended June 30, 2025. The release, accompanying slide presentation as well as financial statements and MD&A are posted in the Investors section of our website at realmatters.com. During the call, we may make certain forward-looking statements,
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