{"id":483001,"date":"2021-04-28T06:48:12","date_gmt":"2021-04-28T10:48:12","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/real-matters-reports-second-quarter-financial-results-and-intention-to-renew-its-normal-course-issuer-bid\/"},"modified":"2021-04-28T06:48:12","modified_gmt":"2021-04-28T10:48:12","slug":"real-matters-reports-second-quarter-financial-results-and-intention-to-renew-its-normal-course-issuer-bid","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/real-matters-reports-second-quarter-financial-results-and-intention-to-renew-its-normal-course-issuer-bid\/","title":{"rendered":"Real Matters Reports Second Quarter Financial Results and Intention to Renew its Normal Course Issuer Bid"},"content":{"rendered":"

<\/p>\n

Real Matters Reports Second Quarter Financial Results and Intention to Renew its Normal Course Issuer Bid<\/b><\/p>\n

\n(all amounts are expressed in millions of U.S. dollars, excluding per share amounts and unless otherwise stated)\n<\/p>\n

TORONTO–(BUSINESS WIRE<\/a>)–
\nReal Matters Inc. (TSX: REAL) (\u201cReal Matters\u201d or the \u201cCompany\u201d), a leading network management services platform for the mortgage and insurance industries, today announced its financial results for the second quarter ended March 31, 2021.\n<\/p>\n

\n\u201cWe were very pleased with our performance in the second quarter; we delivered strong financial results and launched our first Tier 1 lender in U.S. Title, marking the achievement of a significant milestone in the execution of our long-term growth strategy. Consolidated Net Revenue(1)<\/sup> increased 29.8% to $46.7 million and Adjusted EBITDA(1)<\/sup> increased 30.2% to $19.0 million from the second quarter of fiscal 2020, principally driven by higher volumes and margin expansion in our U.S. Title segment,\u201d said Real Matters Chief Executive Officer Brian Lang. \u201cThe U.S. mortgage market continued to demonstrate strong year-over-year growth in the second quarter and both our U.S. businesses outperformed the market from market share growth and new client additions. Our centralized U.S. Title revenues were up 78.4% compared with an estimated 71.1% increase in the refinance origination market, while U.S. Appraisal origination revenues were up 12.0% compared with an estimated 10.7% increase in the addressable market.\u201d\n<\/p>\n

\n\u201cLooking ahead, our principal focus continues to be market share growth and adding new clients. Given our performance track record and the breadth of our U.S. lender client base, we are confident in our ability to continue driving organic growth over the long-term with a view of achieving our Fiscal 2025 targets,\u201d added Lang.\n<\/p>\n\n\n\n\n\n\n
\n

Q2 2021 Key Performance Indicators (year-over-year)<\/b><\/p>\n<\/td>\n

\n\n

U.S. Appraisal<\/b><\/p>\n<\/td>\n

\n\n

U.S. Title<\/b><\/p>\n<\/td>\n

\n\n

Consolidated<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

\nRevenues\n<\/p>\n<\/td>\n

\n\n

\n$76.3 million\n<\/p>\n<\/td>\n

\n\n

\n$40.1 million\n<\/p>\n<\/td>\n

\n\n

\n$128.8 million\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nRevenue Growth\n<\/p>\n<\/td>\n

\n\n

\n7.0%\n<\/p>\n<\/td>\n

\n\n

\n30.0%\n<\/p>\n<\/td>\n

\n\n

\n17.5%\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nNet Revenue(A)<\/sup> Growth\n<\/p>\n<\/td>\n

\n\n

\n-4.4%\n<\/p>\n<\/td>\n

\n\n

\n64.1%\n<\/p>\n<\/td>\n

\n\n

\n29.8%\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nAdjusted EBITDA(A)<\/sup> Margin\n<\/p>\n<\/td>\n

\n\n

\n55.5%\n<\/p>\n<\/td>\n

\n\n

\n46.1%\n<\/p>\n<\/td>\n

\n\n

\n40.7%\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n

Q2 2021 Highlights<\/b><\/p>\n