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Condensed Consolidated Statements of Income (Loss) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Revenue:        
Total revenue $ 81,223 $ 88,943 $ 249,071 $ 272,119
Operating expenses:        
Selling, operating and administrative expenses 43,090 49,702 132,417 138,314
Marketing Funds expenses 20,853 22,736 63,272 68,496
Depreciation and amortization 8,195 8,757 24,236 26,855
Settlement and impairment charges 55,000 2,513 55,000 8,708
Gain on reduction in tax receivable agreement liability (24,917)   (24,917)  
Total operating expenses 102,221 83,708 250,008 242,373
Operating income (loss) (20,998) 5,235 (937) 29,746
Other expenses, net:        
Interest expense (9,292) (5,729) (26,377) (13,412)
Interest income 1,173 497 3,318 675
Foreign currency transaction gains (losses) 125 (360) 383 (340)
Total other expenses, net (7,994) (5,592) (22,676) (13,077)
Income (loss) before provision for income taxes (28,992) (357) (23,613) 16,669
Provision for income taxes (53,680) (553) (56,494) (4,359)
Net income (loss) (82,672) (910) (80,107) 12,310
Less: net income (loss) attributable to non-controlling interest (23,218) (1,050) (21,992) 4,890
Net income (loss) attributable to RE/MAX Holdings, Inc. $ (59,454) $ 140 $ (58,115) $ 7,420
Common Class A        
Net income (loss) attributable to RE/MAX Holdings, Inc. per share of Class A common stock        
Basic $ (3.28) $ 0.01 $ (3.22) $ 0.39
Diluted $ (3.28) $ 0.01 $ (3.22) $ 0.39
Weighted average shares of Class A common stock outstanding        
Basic 18,150,557 18,646,306 18,064,009 18,859,376
Diluted 18,150,557 18,876,863 18,064,009 19,080,605
Cash dividends declared per share of Class A common stock $ 0.23 $ 0.23 $ 0.69 $ 0.69
Continuing franchise fees        
Revenue:        
Total revenue $ 31,834 $ 33,310 $ 96,011 $ 100,937
Annual dues        
Revenue:        
Total revenue 8,456 8,911 25,661 26,847
Broker fees        
Revenue:        
Total revenue 14,255 16,596 39,468 50,998
Marketing Funds fees        
Revenue:        
Total revenue 20,853 22,736 63,272 68,496
Franchise sales and other revenue        
Revenue:        
Total revenue $ 5,825 $ 7,390 $ 24,659 $ 24,841