Real Matters Inc
TSX:REAL

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Real Matters Inc
TSX:REAL
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Price: 6.01 CAD 1.01%
Market Cap: 446.2m CAD

Real Matters Inc
Investor Relations

Real Matters, Inc. engages in the provision of management services to mortgage lending and insurance industries. The company is headquartered in Thornhill, Ontario. The company went IPO on 2017-05-11. The firm is focused on providing appraisal services through its Solidifi brand to the mortgage lending industry in the United States and Canada, title services through its Solidifi brand to the mortgage lending industry in the United States and insurance inspection services through its iv3 brand to the insurance industry in Canada. Its technology-based platform creates a competitive marketplace where independent field professionals, including appraisers, real estate agents, property inspectors, notaries, abstractors and other closing agents, compete for volumes provided by its clients based on their performance and professionalism (the platform). Its clients include mortgage lenders in the United States, five Canadian banks and some of North America’s insurance carriers.

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Last Earnings Call
Fiscal Period
Q4 2025
Call Date
Nov 20, 2025
AI Summary
Q4 2025

Revenue: Real Matters reported consolidated revenue of $170 million in fiscal 2025, with US Title and Canadian segments showing double-digit growth.

Margins & Profitability: The company posted an adjusted EBITDA loss of $3.2 million for fiscal 2025, down from positive $1.9 million last year, mainly due to higher investments in sales.

US Title Strength: US Title segment revenues rose 21%, driven by a 41% increase in refinance origination and a major new Tier 1 client, with net revenue margins up 680 bps to 53.1%.

US Appraisal Weakness: US Appraisal revenues fell 7% YoY due to historic lows in the purchase market, but margins remained within the target range.

Market Outlook: Management is optimistic about pent-up demand from high-interest mortgage holders and expects growth as rates ease.

Sales Pipeline: The company highlighted a strong and improving sales pipeline, particularly in US Title, with expectations to double volumes again in the coming quarters.

Balance Sheet: Real Matters ended the year with no debt and $40 million in cash.

Key Financials
Revenue
$170 million
Net Revenue
$45 million
Adjusted EBITDA
-$3.2 million
US Appraisal Revenue
$121.8 million
US Appraisal Net Revenue Margin
26.3%
US Appraisal Adjusted EBITDA
$13 million
US Title Net Revenue Margin
53.1%
US Title Adjusted EBITDA
-$7.3 million
Canadian Net Revenue Margin
18.8%
Canadian Adjusted EBITDA
$4.7 million
Cash Balance
$40 million
Debt
$0
Q4 Consolidated Revenue
$46 million
Q4 Consolidated Net Revenue
$12 million
Q4 Consolidated Adjusted EBITDA
$0.1 million
Earnings Call Recording
Other Earnings Calls

Management

Mr. Jason Smith
Founder & Chairman
No Bio Available
Mr. Brian Lang
CEO & Director
No Bio Available
Mr. Rodrigo Pinto CA
Executive VP & CFO
No Bio Available
Mr. Loren Cooke
Chief Operating Officer
No Bio Available
Ms. Kim Montgomery
Executive Vice President
No Bio Available
Mr. Ryan Smith
Executive VP & CTO
No Bio Available
Ms. Lyne Beauregard Fisher
Vice President of Investor Relations & Corporate Communications
No Bio Available
Mr. Jay Greenspoon
General Counsel & Corporate Secretary
No Bio Available
Ms. Colleen McCafferty
Chief Compliance Officer of Solidifi U.S.
No Bio Available

Contacts

Address
ONTARIO
Thornhill
50 Minthorn Blvd Suite 401
Contacts
+19057391212.0
www.realmatters.com