T
he Real Brokerage's growth momentum continued in the second quarter, with revenue reaching $540.7 million, a 59% increase from the same period last year and a significant jump from Q1's $354 million. The company achieved its first profitable quarter, with net income of $1.5 million, and reported a net gain of agents despite offboarding over 1,500 unproductive ones.

    Chairman and CEO Tamir Poleg attributed the growth to the company's focus on technology and innovation, including the acquisition of Flyhomes' AI-driven home-search platform. Real plans to integrate Flyhomes into its upcoming Leo for Clients consumer dashboard, aiming to deliver an end-to-end AI-driven homebuying experience.

    Real Wallet, a suite of business services, also saw significant adoption, with over 3,600 agents using its business checking accounts and approximately 850 utilizing tax planning features. The company plans to roll out business lines of credit to US agents in the coming quarter, further enhancing Real Wallet's offerings.

    Key metrics include:

    * Revenue: $540.7 million (59% increase from Q2 2024)

    * Cash and cash equivalents: $54.8 million (more than double the March amount)

    * Adjusted EBITDA: $20.0 million

    * Net income: $1.5 million

    * Agent count: 28,034 (43% increase from Q2 2024), with approximately 29,200 agents associated with Real by August 5

    Poleg highlighted revenue churn as a key indicator of agent retention, which decreased to 1.9%, representing the best-in-class rate for the industry. The company's focus on technology and innovation has driven its growth, and Poleg expressed confidence in Real's ability to continue delivering value to agents and clients alike.