Welcome to our dedicated page for REAL BROKERAGE news (Ticker: REAX), a resource for investors and traders seeking the latest updates and insights on REAL BROKERAGE stock.
Real Brokerage Inc. (REAX) is a forward-thinking, technology-driven real estate brokerage firm. The company is dedicated to enhancing the real estate experience by leveraging advanced technologies that cater to both mobile and desktop users. Real Brokerage Inc. offers a unique, cloud-based platform that streamlines operations for its agents, allowing them to deliver a seamless, end-to-end experience to homebuyers and sellers. This platform integrates various tools that improve efficiency and empower real estate agents to better serve their clients.
With the majority of its revenue generated from the United States, Real Brokerage Inc. has established a significant presence in the American real estate market. The company's innovative approach includes the development and integration of cutting-edge technologies, which help reduce operational costs and increase productivity. Real Brokerage Inc. continuously invests in technological advancements to stay ahead in the competitive real estate industry.
Recent achievements include the expansion of their agent network, enhancements to their cloud-based platform, and strategic partnerships aimed at furthering their technological and operational capabilities. The company remains focused on providing top-notch services to its agents and clients, ensuring that both homebuying and selling processes are as smooth and efficient as possible.
In conclusion, Real Brokerage Inc. stands out in the real estate brokerage sector through its commitment to technological innovation and superior agent support. By continuously improving its platform and expanding its reach, the company aims to redefine the real estate experience for all stakeholders involved.
The Real Brokerage Inc. has appointed Eric Eckardt as its new Chief Consumer Officer, effective August 13, 2021. Eckardt brings over 25 years of experience in real estate, technology, and finance, previously holding leadership roles in various public and private companies. His focus will be on market expansion and enhancing service offerings for Real's customers. Additionally, the company announced a stock option grant of 250,000 options to an officer, with a three-year vesting period. This strategic appointment is aimed at driving growth and innovation within the organization.
The Real Brokerage achieved a remarkable 790% revenue growth in Q2 2021, reaching $23 million, up from $2.5 million in Q2 2020. The gross profit surged 764% to $2.4 million, while the net operating loss increased to $2.9 million from a loss of $1.2 million year-over-year. The number of agents grew 126% to 2,451, and revenue per agent rose 362% to $1.5 thousand. With a strong cash position of $37.9 million, the company anticipates continued growth fueled by its expanding agent base.
The Real Brokerage Inc. (TSXV: REAX, Nasdaq: REAX) will present at the D.A. Davidson Bison Select Conference on August 4, 2021, at 2 PM ET. The presentation will be accessible to investors via a link provided in the press release. Additionally, one-on-one meetings will be available throughout the day. The presentation replay will be accessible for 90 days. Real is a tech-powered real estate brokerage operating in 31 states and the District of Columbia, focused on enhancing financial opportunities for agents through commission splits and technology.
The Real Brokerage Inc. (REAX) announced the conversion of all preferred units held by Insight Partners into 17,286,848 common shares following its listing on Nasdaq on June 15, 2021. This forced exchange was part of a $20 million investment by Insight Partners in December 2020. Post-exchange, Insight Partners controls 34,573,696 common shares, representing approximately 17.73% of the total issued shares. The press release also includes an early warning disclosure regarding the ownership structure.
The Real Brokerage announced the release date for its Q2 2021 financial results on August 11, 2021, prior to market open, followed by a conference call at 11:00 a.m. EST. The company, operating in 31 states and the District of Columbia, also disclosed a grant of 9,000 restricted share units (RSUs) to certain officers, with vesting dates spanning from 2022 to 2024. This move aims to enhance financial alignment between Real and its management team as part of its commitment to growth.
The Real Brokerage Inc. (REAX), a tech-driven real estate brokerage, now operates in 31 states and Washington D.C. The company celebrated its listing on the Nasdaq Capital Market on June 15, 2021, and will ring the Nasdaq Closing Bell on July 20, 2021. Real's platform enhances the homebuying experience for agents, buyers, and sellers, and has seen a 100% increase in agent sign-ups year-over-year, reaching over 2,400 agents. CEO Tamir Poleg highlighted their rapid growth and positive outlook for the future.
The Real Brokerage Inc. (TSXV: REAX, NASDAQ: REAX) announced a forward split of its common shares at a ratio of 4:1, effective July 16, 2021, with a record date of July 19, 2021. Existing shares will increase from approximately 40.2 million to 160.7 million. Following the split, the ex-dividend date for NASDAQ will be July 23, 2021, adjusting the share price accordingly. Shareholders need not take action, as Computershare Investor Services will handle the distribution of additional shares.
The Real Brokerage Inc. (TSXV: REAX, NASDAQ: REAX) announced a forward share split of its common shares, with a ratio of four post-split shares for each pre-split share. This decision was made to restore the share capitalization prior to the June 1, 2021, consolidation, aimed at enhancing the company’s attractiveness to real estate agents through increased stock options. The split is subject to TSX Venture Exchange approval, with a planned record date of July 19, 2021, and an effective date of July 16, 2021. Existing shares will increase from approximately 40 million to 160 million.
The Real Brokerage Inc. (TSXV: REAX, NASDAQ: REAX) has secured C$32.8 million from accelerated warrant exercises following its Nasdaq listing on June 15, 2021. The warrants were held by Insight Partners, who exercised 4,321,712 warrants at a price of C$7.60 each. CEO Tamir Poleg highlighted the funding as a testament to Insight's confidence in Real's future. This financing will bolster Real's balance sheet, enhancing its growth potential in the real estate market.
The Real Brokerage Inc. (TSXV: REAX, OTCQX: REAXF, NASDAQ: REAX) has announced an "Acceleration Notice" to Insight Venture Management for 4,321,712 Common Share purchase warrants, expiring June 30, 2021, at a price of $7.60 each. Additionally, a "Forced Exchange Notice" will convert preferred equity units into Common Shares on August 3, 2021, as part of a $20 Million investment from Insight Partners made in December 2020. This move follows Real's recent listing on the Nasdaq Capital Market on June 15, 2021, signaling significant financial activity for the company.
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