The RMR Group (RMR) Q4 2026 earnings summary

Executive summary

• Fiscal Q4 ended with a $12.4 million net loss, largely from non-cash investment fair-value losses; Distributable Earnings were $17.2 million and Adjusted EBITDA was $21.5 million, both above guidance.

• Cost controls lifted Adjusted EBITDA margin 460 bps sequentially to 45.9%; strategic initiatives at managed clients supported their operating performance and long-term prospects.

Financial highlights

• Total revenues were $163.6 million, versus $153.5 million in Q3 FY2026 and $159.4 million in Q4 FY2025.

• Net loss attributable to shareholders was $5.7 million, or $(0.35) per diluted share; Adjusted Net Income was $3.7 million, or $0.21 per diluted share.

• Distributable Earnings were $17.2 million, or $0.53 per share, versus $15.4 million and $0.48 in Q3 FY2026, and $14.3 million and $0.44 in Q4 FY2025.

• Adjusted EBITDA was $21.5 million, compared with $19.7 million in Q3 FY2026 and $20.5 million in Q4 FY2025.

Outlook and guidance

• Fiscal-year results finished ahead of guidance for Distributable Earnings and Adjusted EBITDA; outlook called for solid earnings growth as managed clients benefit from strategic initiatives and private capital under management grows.

• If the September 30, 2026 measurement date had ended the period, incentive fees would total $37.7 million from DHC and ILPT; fees remain contingent on performance through December 31, 2026.