RE/MAX Q3 revenue down 6.7% to $73.3M; adjusted EBITDA $25.8M, US agent count down 5.1%

RE/MAX Holdings, Inc.

Net income $4.0M ($0.19 diluted EPS) vs $1.0M ($0.05) YoY; adjusted EPS $0.37 vs $0.38.
Total revenue $73.3M, down 6.7%; revenue excl Marketing Funds $55.1M, down 5.6%.
Total agent count +1.4% to 147,547; US/Canada -5.1% to 74,198; international +9%.
Q4 guidance: revenue $69.5-73.5M, adj. EBITDA $19-23M; FY2025 narrowed to $290-294M rev., $90-94M adj. EBITDA.
Cash $107.5M, net debt $437.9M; $62.5M remaining under share buyback program.

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