XML 15 R4.htm IDEA: XBRL DOCUMENT v3.24.3
Condensed Consolidated Statements of Income (Loss) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Revenue:        
Total revenue $ 78,478 $ 81,223 $ 235,218 $ 249,071
Operating expenses:        
Selling, operating and administrative expenses 35,932 43,090 116,488 132,417
Marketing Funds expenses 20,098 20,853 60,331 63,272
Depreciation and amortization 7,237 8,195 22,489 24,236
Settlement and impairment charges   55,000   55,000
Gain on reduction in tax receivable agreement liability   (24,917)   (24,917)
Total operating expenses 63,267 102,221 199,308 250,008
Operating income (loss) 15,211 (20,998) 35,910 (937)
Other expenses, net:        
Interest expense (9,249) (9,292) (27,696) (26,377)
Interest income 885 1,173 2,835 3,318
Foreign currency transaction gains (losses) 74 125 (568) 383
Total other expenses, net (8,290) (7,994) (25,429) (22,676)
Income (loss) before provision for income taxes 6,921 (28,992) 10,481 (23,613)
Provision for income taxes (3,507) (53,680) (6,484) (56,494)
Net income (loss) 3,414 (82,672) 3,997 (80,107)
Less: net income (loss) attributable to non-controlling interest 2,448 (23,218) 2,679 (21,992)
Net income (loss) attributable to RE/MAX Holdings, Inc. $ 966 $ (59,454) $ 1,318 $ (58,115)
Common Class A        
Net income (loss) attributable to RE/MAX Holdings, Inc. per share of Class A common stock        
Basic $ 0.05 $ (3.28) $ 0.07 $ (3.22)
Diluted $ 0.05 $ (3.28) $ 0.07 $ (3.22)
Weighted average shares of Class A common stock outstanding        
Basic 18,863,793 18,150,557 18,733,190 18,064,009
Diluted 19,483,798 18,150,557 19,063,279 18,064,009
Cash dividends declared per share of Class A common stock   $ 0.23   $ 0.69
Continuing franchise fees        
Revenue:        
Total revenue $ 30,798 $ 31,834 $ 92,223 $ 96,011
Annual dues        
Revenue:        
Total revenue 7,969 8,456 24,345 25,661
Broker fees        
Revenue:        
Total revenue 14,915 14,255 40,159 39,468
Marketing Funds fees        
Revenue:        
Total revenue 20,098 20,853 60,331 63,272
Franchise sales and other revenue        
Revenue:        
Total revenue $ 4,698 $ 5,825 $ 18,160 $ 24,659