RE/MAX HOLDINGS, INC. - RMAX STOCK NEWS

RE/MAX has expanded its global footprint by entering four new countries: Belgium, Moldova, North Macedonia, and St. Lucia, increasing its presence to over 110 countries and territories. Despite pandemic challenges, the network's agent count outside the U.S. and Canada grew by 14% year-over-year in Q2 2020, with more than 6,000 new agents. The brand's innovative approach, including virtual recruitment and training, is enhancing its resilience. RE/MAX was also ranked No. 11 on Entrepreneur magazine's Top Global Franchise list, reinforcing its market leadership.

On Sept. 1, 2020, RE/MAX Holdings (NYSE: RMAX) announced the acquisition of wemlo, a fintech startup focused on mortgage loan processing. This strategic move aims to enhance the functionality of Motto Mortgage, addressing critical inefficiencies in the brokerage sector. The acquisition is expected to diversify revenue streams and boost operational efficiency, providing a competitive edge in the market. CEO Adam Contos highlighted that this investment aligns with RE/MAX's M&A strategy to foster innovative companies that improve customer experience.

The RE/MAX Collection announces its Luxury Forum, taking place virtually on September 24, 2020, featuring notable speakers such as Olympian Apolo Ohno and esteemed coach Valorie Kondos Field. The event aims to educate luxury real estate agents on overcoming challenges in the market. Registration is available for RE/MAX Affiliates at $75, with an optional Luxury Live course on September 25 for $495. The forum will provide insights into the evolving luxury market post-COVID-19, emphasizing the need for excellence and adaptability in real estate.

RE/MAX hosted its 2020 Broker Owner Conference virtually on August 17-18, attracting nearly 2,000 leaders from 45 countries. The event, themed 'One World, One RE/MAX,' featured significant discussions led by CEO Adam Contos, emphasizing adaptations amid COVID-19. Contos introduced new marketing tools, professional development courses, and a technology portal named RE/MAX Marketplace. The conference also focused on diversity and inclusion, culminating in a dialogue with activist Baratunde Thurston. Additionally, the next conference is scheduled for Austin, TX, on August 8-10, 2021.

RE/MAX Holdings reported a total revenue of $52.2 million for Q2 2020, down 26.9% from Q2 2019, mainly due to COVID-19 financial support initiatives. Net income decreased to $3.5 million with GAAP EPS at $0.19, down from $0.48. Agent count rose 3.8% to 131,905, but U.S. and Canada combined count fell 1.4%. Adjusted EBITDA was $18.9 million with a margin of 36.2%. The company declared a quarterly dividend of $0.22 per share, payable September 2, 2020.

RE/MAX, LLC has appointed Amy Lessinger as Vice President of Business Growth for the West Region, effective immediately. With over 20 years of experience in the RE/MAX network, Lessinger was a successful Broker/Owner and built a high-performing team in Northern Nevada. She aims to enhance recruiting and retention strategies in her new role. Kevin Northrup has also been named Vice President for the Northeast Region. These leadership changes signal RE/MAX's commitment to strengthening its operational structure and business growth strategies across various regions.

RE/MAX Holdings, Inc. (NYSE: RMAX) announced a quarterly cash dividend of $0.22 per share of Class A common stock. The dividend is payable on September 2, 2020, to shareholders of record by August 19, 2020. RE/MAX, a leading real estate franchisor, operates globally with over 130,000 agents across more than 110 countries. Founded in 1973, the company has also launched Motto Mortgage, which has expanded to over 100 offices in more than 30 states. The firm remains committed to innovation in the industry while navigating ongoing challenges from the COVID-19 pandemic.