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RE/MAX Holdings earnings and revenue breakdown
Latest: Q2 2026 · 10-Q filed Aug 6, 2026
Q2 2026 Revenue down 6% year over year to $68.5M · 10¢ of every $1 of revenue lost · operating margin 2.2%
RE/MAX Holdings made $68.5M in Q2 2026 (-6% Y/Y): Continuing franchise fees $25.7M, Marketing Funds $16.8M, Broker fees $14.1M. Operating margin 2.2%, net loss $6.8M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 6, 2026.
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What changed this quarter
Revenue was $68.5M in Q2 2026, down 6% year over year and down 2% from the previous quarter. Continuing franchise fees was the largest line at 38% of revenue. Continuing franchise fees lost $3.3M year over year (down 11%), 78% of the total change.
Operating profit was $1.5M, a 2.2% margin (down 17.1 points year over year). Total costs grew 14% against a revenue fall of 6%. The fastest-growing cost line was Other operating costs (+37%). The quarter ended with a net loss of $6.8M, narrower than the previous quarter's $15.7M loss. Minority interests bore $2.5M of it: to shareholders the quarter was a loss of $4.3M. Net interest and other expense of $6.7M was the main reason.
Operating cash flow was $6.2M (up 36% year over year). Non-cash charges added back $5.9M of depreciation and amortization and $4.0M of share-based compensation. Working capital and other items added $3.1M. Capital expenditures of $2.7M left free cash flow of $3.5M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 10-Q | Aug 6, 2026 | $68.5M | -6% | 2.2% | −$6.8M | $6.2M |
| Q1 2026 | 10-Q | May 8, 2026 | $70.2M | -6% | -11.1% | −$15.7M | −$1.8M |
| Q4 2025 | 10-K | Feb 19, 2026 | $71.1M | -2% | 13.1% | $6.7M | $12.9M |
| Q3 2025 | 10-Q | Oct 30, 2025 | $73.2M | -7% | 25.0% | $4.0M | $17.7M |
| Q2 2025 | 10-Q | Jul 29, 2025 | $72.8M | -7% | 19.3% | $4.7M | $4.6M |
| Q1 2025 | 10-Q | May 1, 2025 | $74.5M | -5% | 7.2% | −$3.2M | $5.7M |
| Q4 2024 | 10-K | Feb 20, 2025 | $72.5M | -5% | 5.9% | $4.1M | $16.8M |
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About RE/MAX Holdings
We are one of the world’s leading franchisors in the real estate industry. We franchise real estate brokerages worldwide under the RE/MAX ® brand (“REMAX”) and mortgage brokerages in the United States under the Motto ® Mortgage brand (“Motto”). We also provide ancillary products and services to our franchise networks, including marketing services, technology platforms, and mortgage loan processing services to our Motto network and other third parties through our wemlo ® brand. REMAX and Motto are 100% franchised. We do not own or operate brokerage offices. Instead, we provide franchisees with the right to use our brands, technology offerings, and value proposition while franchisees fund and manage their own operations. As a result, we maintain a low fixed-cost structure and generate revenue primarily from recurring fee-based sources, producing strong margins and cash flow.
In its own words, from its 10-K, filed Feb 19, 2026.
RE/MAX Holdings against its Real Estate Agents & Managers (For Others) peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -6% against the peers' median +12%. Operating margin: 2.2% against the peers' median 2.2%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| RE/MAX Holdings | Q2 2026 | $68.5M | -6% | 2.2% |
| JLL Jones Lang Lasalle | Q3 2026 | $7.3B | +12% | 5.4% |
| COMP Compass | Q3 2026 | $3.9B | +111% | 2.2% |
| AGNT Agnt | Q3 2026 | $1.4B | +6% | 0.2% |
| VAC Marriott Vacations Worldwide | Q3 2026 | $1.4B | +8% | 11.2% |
| OPEN Opendoor Technologies | Q3 2026 | $1.0B | +12% | -18.3% |
| NMRK Newmark Group | Q3 2026 | $973M | +13% | 8.8% |
| REAX Real Remax Group | Q3 2026 | $728M | +28% | -9.9% |
| DOUG Douglas Elliman | Q2 2026 | $283M | +4% | -1.2% |
Source: RE/MAX Holdings 10-Q on SEC EDGAR · CIK 1581091 · Real Estate Agents & Managers (For Others)