Real reported a net income of $1.5 million in Q2, marking a significant turnaround from a $1.1 million loss a year prior. The company achieved a 50% gross profit rise to $47.9 million, with 49,282 real estate transactions, a 62% increase year-over-year. Total transaction value reached $20.1 billion, and agent count grew by 43% to 28,034. Operating expenses rose by 42%, yet revenue churn remained low at 2%, indicating strong agent retention and performance metrics ahead of industry averages.
Real provides real estate agents with financial incentives and a proprietary software platform, removing the need for physical office spaces and fostering a unique collaborative culture.
Real's net income attributable to shareholders reached $1.5 million, a substantial improvement from a net loss of $1.1 million in Q2 last year.
Gross profit increased by 50% to $47.9 million, demonstrating substantial growth alongside a 62% increase in closed transactions, reflecting a total value of $20.1 billion.
Agent count grew 43% year-over-year to 28,034, with ongoing growth underlined by a revenue churn rate of 2%, highlighting excellent retention of productive agents.
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