RE/MAX Q4 loss widens to $10.9M; Amy Lessinger promoted to President after Bailey exit

RE/MAX Holdings, Inc.

Q4 revenue $76.6M (-5.7% YoY); net loss $10.9M ($0.60 diluted loss); adjusted EBITDA $23.0M (-13.4%).
Q4 adjusted EPS $0.30 vs $0.41 YoY; full-year net loss $69.0M ($3.81 diluted loss per share).
U.S./Canada agent count down 4.2% to 80,299; total agent count up 0.6% to 144,835.
Amy Lessinger named President of RE/MAX LLC (base salary $355K), replacing Nick Bailey who leaves; Abby Lee and Susie Winders also promoted.
Q1 2024 guidance: revenue $75-80M, adjusted EBITDA $16.5-19.5M; FY 2024 revenue $300-320M, EBITDA $90-100M.

item 2.02 item 5.02 item 7.01 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Departed

Nick Bailey

President and CEO of RE/MAX

RMAX · RE/MAX Holdings, Inc.

Effective: 2024-02-22
Successor: Amy Lessinger
Filed: February 22, 2024, 6:59 PM ET

Ms. Lessinger succeeds Nick Bailey, President and CEO of RE/MAX, who is leaving RE/MAX and the Company.

Role change

Amy Lessinger

President of RE/MAX, LLC

RMAX · RE/MAX Holdings, Inc.

Effective: 2024-02-22
Filed: February 22, 2024, 6:59 PM ET

On February 22, 2024, Amy Lessinger was promoted to President of RE/MAX, LLC, a subsidiary of the Company (“RE/MAX”).

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

RE/MAX Holdings, Inc. reported the full year ended December 31, 2023 results: revenue $325.7 million, net income Net loss attributable to RE/MAX Holdings, Inc. of $69.0 million, EPS loss per diluted share (GAAP EPS) of $3.81.

Period: the full year ended December 31, 2023
Revenue: $325.7 million
Net income: Net loss attributable to RE/MAX Holdings, Inc. of $69.0 million
EPS: loss per diluted share (GAAP EPS) of $3.81
Result: reported results

Exact text from the filing

open Motto Mortgage franchises increased 6.5% to 246 offices 4 Full-Year 2023 Highlights (Compared to full year 2022 unless otherwise noted) § Total Revenue decreased 7.8% to $325.7 million § Revenue excluding the Marketing Funds 1 decreased 8.1% to $241.8 million, driven by negative 7.4% organic growth 2 and adverse foreign currency movements of 0.7% § Net loss

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

RE/MAX Holdings, Inc. reported the quarter ended December 31, 2023 results: revenue $76.6 million, net income Net loss attributable to RE/MAX Holdings, Inc. of $10.9 million, EPS loss per diluted share (GAAP EPS) of $0.60.

Period: the quarter ended December 31, 2023
Revenue: $76.6 million
Net income: Net loss attributable to RE/MAX Holdings, Inc. of $10.9 million
EPS: loss per diluted share (GAAP EPS) of $0.60
Result: reported results

Exact text from the filing

EX-99.1 (EXHIBIT 99.1) --- EX-99.1 2 tm246964d1_ex99-1.htm EXHIBIT 99.1 Exhibit 99.1 RE/MAX HOLDINGS, INC. REPORTS FOURTH QUARTER AND FULL YEAR 2023 RESULTS Total Revenue of $76.6 Million, Adjusted EBITDA of $23.0 Million DENVER, February 22, 2024 Fourth Quarter 2023 Highlights (Compared to fourth quarter 2022 unless otherwise noted) § Total Revenue decreased 5.7%

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Executive change SEC 8-K Item 5.02 confidence 0.95

Nick Bailey departed as President and CEO of RE/MAX at RE/MAX Holdings, Inc..

Action: leaving
Role: President and CEO of RE/MAX

Exact text from the filing

Ms. Lessinger succeeds Nick Bailey, President and CEO of RE/MAX, who is leaving RE/MAX and the Company.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Amy Lessinger changed role as President of RE/MAX, LLC at RE/MAX Holdings, Inc..

Action: promoted
Role: President of RE/MAX, LLC

Exact text from the filing

On February 22, 2024, Amy Lessinger was promoted to President of RE/MAX, LLC, a subsidiary of the Company (“RE/MAX”).

View on SEC.gov

44 earnings releases filed in the last 30 days. Browse all earnings releases →

RE/MAX Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-24-026532

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