"That's one of the platforms that we talked about as being a seven-digit revenue opportunity that certainly is continuing to grow, he said. We're seeing a great response, engagement, usage, and I think the most important thing is it's actually working. When you think about the marketing of a listing or an open house, or just marketing in general, it's good to see that engagement and that return."
"Over the past four to six quarters, we've really been talking about bringing more value to the network and helping (agents) win more business in less time and bring some profitability back to brokerages, help agents make a little bit more money, he said."
Excluding marketing funds, revenue fell 5.6% to $55.1 million, with organic revenue down 5.4% and a 0.2% negative foreign-currency impact. Recurring revenue, mainly franchise fees and annual dues, declined 9.6% and comprised 63.6% of revenue excluding marketing funds. Net income increased to $4.0 million from $1.0 million. Adjusted EBITDA fell 5.6% to $25.8 million, a 35.2% margin. Total operating expenses were $54.9 million, down $8.3 million, driven by lower selling, operating and administrative costs, reduced settlement and impairment charges, decreased marketing fund expenses, and lower depreciation and amortization. Marketing as a Service gained strong traction and technology strategy expanded internationally with new AI-driven tools and advertising partnerships. Digital marketing initiatives target more efficient agent business wins and improved brokerage profitability.
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