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TORONTO, Nov. 20, 2025 (GLOBE NEWSWIRE) — Real Matters Inc. (TSX: REAL) (“Real Matters” or the “Company”), a leading network management services platform for the mortgage and insurance industries, today announced its financial results for the fourth quarter and fiscal year ended September 30, 2025.
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“Our business demonstrated resilience and competitive strength throughout 2025 as we consistently launched new clients, expanded market share, and maintained strong financial discipline. We launched 10 new clients and one new channel in U.S. Appraisal and Canada, and both these segments continued to generate solid positive Adjusted EBITDA(A). We expanded our U.S. Title business by adding seven new clients, including a second Tier 1 lender and two new channels. This momentum underscores our U.S. Title segment’s role as a key growth engine for our company as we continue onboarding new clients and position ourselves to benefit from anticipated market tailwinds. Thanks to this expanded client base, we closed fiscal 2025 with a daily order run rate in U.S. Title that has more than doubled compared to the start of the year,” said Real Matters Chief Executive Officer Brian Lang.
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“We reported consolidated revenues of $46.0 million for the fourth quarter, up 1% year-over-year, as growth in U.S. refinance origination revenues and Canada were offset by lower activity in the U.S. purchase market. Our U.S. Title segment delivered robust performance in Q4 with 28% year-over-year Net Revenue(A) growth, and fourth quarter Adjusted EBITDA(A) margins increased in U.S. Appraisal and U.S. Title reflecting our continued ability to drive operating leverage amid challenging market dynamics,” added Lang.
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“Our recent Consumer Mortgage Survey indicated that future buyer intent to purchase remains relatively strong, with 40% planning to purchase in the next two years, while 50% of existing mortgage holders plan to refinance when rates ease. There are currently 51 million mortgages outstanding in the U.S., with over 12 million carrying interest rates above 6%. These consumer trends, together with a more favourable interest rate outlook, clearly underscore the opportunity to unlock significant growth in mortgage origination volume. Looking forward, our focus remains on executing with discipline, driving consistent performance, expanding market share, and enhancing operating leverage in line with our target operating model. With strong fundamentals and strategic momentum, we are positioned to scale efficiently and capitalize on growth opportunities as the market normalizes,” concluded Lang.
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Q4 2025 Summary
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- Consolidated revenue of $46.0 million compared with $45.6 million in Q4’24 – increased revenues in U.S. Title and Canada partially offset by 2% decline in U.S. Appraisal revenue
- Consolidated Adjusted EBITDA(A) of $0.1 million compared with $0.6 million in Q4’24
- Launched six new clients including a Tier 1 lender in U.S. Title and a top-15 mortgage lender in U.S. Appraisal
- U.S. Appraisal mortgage origination revenues down 2% year-over-year due to lower purchase origination volumes
- U.S. Title refinance origination revenues up 17% year-over-year due to net market share gains with existing and new clients and increased market volumes
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Fiscal 2025 Summary
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- Consolidated revenues of $169.7 million – down 2% year-over-year principally due to weaker U.S. purchase mortgage origination market
- U.S. Appraisal Net Revenue(A) margin of 26.3% – in target operating model range
- Consolidated Adjusted EBITDA(A) of $(3.2) million compared with $1.9 million in fiscal 2024
- Launched 17 new clients and three new channels
- U.S. Appraisal mortgage origination revenues down 9% year-over-year due to lower purchase origination volumes
- U.S. Title refinance origination revenues up 41% year-over-year due to net market share gains with existing and new clients and higher refinance origination market volumes
- Cash and cash equivalents of $40.2 million and no outstanding debt as at September 30, 2025
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