The following is a summary of the Real Matters Inc. (RLLMF) Q4 2024 Earnings Call Transcript:

Financial Performance:

• Real Matters Inc. reported fiscal 2024 consolidated revenues of $172.7 million, marking a 5% year-over-year increase.

• Consolidated net revenue grew by 8% year-over-year to $46.4 million.

• The company achieved a positive adjusted EBITDA of $1.9 million, up from a loss of $2.4 million in fiscal 2023, demonstrating a significant improvement in profitability.

Business Progress:

• Real Matters Inc. expanded its client base by adding 16 new clients, leading to market share increases with clients across all three segments.

• The company executed effectively within the challenging U.S. mortgage market, catering to increased origination and home equity volumes in U.S. Appraisal and reaching a leading position on lender scorecards.

• Throughout fiscal 2024, the company actively managed operating expenses, aligning them with fluctuations in mortgage origination volumes to maintain strong operating leverage.

• Real Matters Inc. is preparing for anticipated volume increases in 2025 due to a potential decrease in rates and is positioned to scale operations accordingly.

Opportunities:

• The U.S. mortgage origination market presents significant growth potential for Real Matters, supported by more than 8 million outstanding mortgages with interest rates above 6% and a growing pool of potential refinance candidates.

• The company's preparedness to scale operations and capitalize on pent-up demand and market trends in homeownership among younger generations offers substantial opportunities for revenue and market share expansion in the upcoming fiscal year.

Risks:

• Variability in U.S. mortgage market conditions, such as fluctuating interest rates and transaction volumes, poses a risk to consistent financial performance.

• Potential economic fluctuations and interest rate changes could impact mortgage origination volumes and profitability in the short to medium term.

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