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Real Matters
Real Matters (REAL) investor relations material
Real Matters Q1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q1 2026 earnings summary29 Jan, 2026
Executive summary
Achieved double-digit year-over-year topline growth in Q1 2026, with consolidated revenues up 14% and Net Revenue up 19%, driven by all segments.
Positive consolidated Adjusted EBITDA of $0.1 million, the first Q1 profitability since 2022, reflecting strong operating leverage despite seasonally low volumes.
Eight new clients were launched, including two top-100 lenders and a new Tier 1 channel in U.S. Title.
U.S. Title segment refinance origination volumes more than doubled, with growth driven by new client wins and market share gains.
Ended the quarter with $43.8 million in cash and no debt, maintaining a strong balance sheet.
Financial highlights
Consolidated revenue was $46.5 million, up 14% year-over-year; Net Revenue reached $13.0 million, up 19% year-over-year.
Adjusted EBITDA was $0.1 million, up from a $(1.7) million loss in Q1 2025.
Net loss was $(3.5) million, a significant improvement from a $17.9 million loss in the previous quarter.
U.S. Appraisal: Revenue $32.9 million (+12% YoY), Net Revenue $8.4 million (+7% YoY), Adjusted EBITDA $3.3 million (+36% YoY).
U.S. Title: Revenue $4.4 million (+76% YoY), Net Revenue $2.8 million (+110% YoY), Adjusted EBITDA $(0.8) million (improved from $(1.8) million YoY).
Outlook and guidance
Management is cautiously optimistic about improving U.S. mortgage market fundamentals, with a substantial pool of over 13 million refinance candidates as interest rates rebalance.
Q2 market volumes are expected to decline 10% sequentially, but full-year forecasts suggest 50%+ growth in refinance and single-digit purchase growth.
Anticipates continued onboarding of new clients and further market share gains, especially in title.
When does U.S. Title expect positive EBITDA?
Quantify impact of 6%+ mortgage refi opportunity
What is the outlook for U.S. Appraisal purchase volumes?
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Next Real Matters earnings date
EGM 20265 Feb, 2026
Real Matters
Next Real Matters earnings date
EGM 20265 Feb, 2026
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Frequently asked questions
Real Matters Inc provides network services for the mortgage and insurance industries, including appraisal management, title, and mortgage closing services. Its technology-enabled platform serves banks, mortgage lenders, and insurance companies in North America. The company is headquartered in Markham, Canada, and its shares are listed on the TSX.
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