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| Quarter ended | Six months ended | |||||||||||||||||||||
| Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | March 31, 2026 | March 31, 2025 | ||||||||||||||||
| Net income (loss) | $ | 1.2 | $ | (3.5 | ) | $ | (17.9 | ) | $ | (4.9 | ) | $ | (2.2 | ) | $ | (2.3 | ) | $ | 0.1 | |||
| Stock-based compensation expense | 0.3 | 0.1 | 1.3 | 0.3 | 0.1 | 0.4 | 0.2 | |||||||||||||||
| Amortization | 0.8 | 0.7 | 0.8 | 0.7 | 0.7 | 1.5 | 1.5 | |||||||||||||||
| Restructuring expenses | – | – | – | 0.1 | – | – | 0.5 | |||||||||||||||
| Interest expense | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.2 | 0.2 | |||||||||||||||
| Interest income | (0.3 | ) | (0.3 | ) | (0.4 | ) | (0.4 | ) | (0.5 | ) | (0.6 | ) | (1.0 | ) | ||||||||
| Net foreign exchange (gain) loss | (1.5 | ) | 1.4 | (1.8 | ) | 4.7 | 0.2 | (0.1 | ) | (6.0 | ) | |||||||||||
| Loss (gain) on fair value | ||||||||||||||||||||||
| of derivatives | 0.1 | 1.3 | (1.5 | ) | 0.3 | 0.6 | 1.4 | 2.3 | ||||||||||||||
| Income tax expense (recovery) | 0.2 | 0.3 | 19.5 | (0.6 | ) | (0.9 | ) | 0.5 | (1.3 | ) | ||||||||||||
| Adjusted EBITDA | $ | 0.9 | $ | 0.1 | $ | 0.1 | $ | 0.3 | $ | (1.9 | ) | $ | 1.0 | $ | (3.5 | ) | ||||||
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The reconciling items between net income or loss and Adjusted Net Income or Loss were as follows:
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| Quarter ended | Six months ended | |||||||||||||||||||||
| Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | March 31, 2026 | March 31, 2025 | ||||||||||||||||
| Net income (loss) | $ | 1.2 | $ | (3.5 | ) | $ | (17.9 | ) | $ | (4.9 | ) | $ | (2.2 | ) | $ | (2.3 | ) | $ | 0.1 | |||
| Stock-based compensation expense | 0.3 | 0.1 | 1.3 | 0.3 | 0.1 | 0.4 | 0.2 | |||||||||||||||
| Amortization of intangibles | 0.5 | 0.5 | 0.5 | 0.4 | 0.4 | 1.0 | 0.8 | |||||||||||||||
| Restructuring expenses | – | – | – | 0.1 | – | – | 0.5 | |||||||||||||||
| Net foreign exchange (gain) loss | (1.5 | ) | 1.4 | (1.8 | ) | 4.7 | 0.2 | (0.1 | ) | (6.0 | ) | |||||||||||
| Loss (gain) on fair value | ||||||||||||||||||||||
| of derivatives | 0.1 | 1.3 | (1.5 | ) | 0.3 | 0.6 | 1.4 | 2.3 | ||||||||||||||
| Derecognition of prior year U.S. deferred | ||||||||||||||||||||||
| tax assets | – | – | 17.1 | – | – | – | – | |||||||||||||||
| Related tax effects | 0.3 | (0.9 | ) | 0.7 | (1.4 | ) | (0.3 | ) | (0.6 | ) | 0.6 | |||||||||||
| Adjusted Net Income (Loss) | $ | 0.9 | $ | (1.1 | ) | $ | (1.6 | ) | $ | (0.5 | ) | $ | (1.2 | ) | $ | (0.2 | ) | $ | (1.5 | ) | ||
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Forward-Looking Information
This Press Release contains “forward-looking information” within the meaning of applicable Canadian securities laws. Words such as “could”, “forecast”, “target”, “may”, “will”, “would”, “expect”, “anticipate”, “estimate”, “intend”, “plan”, “seek”, “believe”, “likely” and “predict” and variations of such words and similar expressions are intended to identify such forward-looking information, although not all forward-looking information contains these identifying words.
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The forward-looking information in this Press Release includes statements which reflect the current expectations of management with respect to our business and the industry in which we operate and is based on management’s experience and perception of historical trends, current conditions and expected future developments, as well as other factors that management believes appropriate and reasonable in the circumstances. The forward-looking information reflects management’s beliefs based on information currently available to management, including information obtained from third party sources, and should not be read as a guarantee of the occurrence or timing of any future events, performance or results.
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The forward-looking information in this Press Release is subject to risks, uncertainties and other factors that are difficult to predict and that could cause actual results to differ materially from historical results or results anticipated by the forward-looking information. A comprehensive discussion of the factors which could cause results or events to differ from current expectations can be found in the “Risk Factors” section of our Annual Information Form for the year ended September 30, 2025, which is available on SEDAR+ at www.sedarplus.ca.
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Readers are cautioned not to place undue reliance on the forward-looking information, which reflect our expectations only as of the date of this Press Release. Except as required by law, we do not undertake to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.
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About Real Matters
Real Matters is a leading network management services provider for the mortgage lending and insurance industries. Real Matters’ platform combines its proprietary technology and network management capabilities with tens of thousands of independent qualified field professionals to create an efficient marketplace for the provision of mortgage lending and insurance industry services. Our clients include top 100 mortgage lenders in the U.S. and some of the largest banks and insurance companies in Canada. We are a leading independent provider of residential real estate appraisals to the mortgage market and a leading independent provider of title services in the U.S. Headquartered in Markham (ON), Real Matters has principal offices in Buffalo (NY) and Middletown (RI). Real Matters is listed on the Toronto Stock Exchange under the symbol REAL. For more information, visit www.realmatters.com.
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For more information:
Lyne Beauregard
Vice President, Investor Relations and Corporate Communications
Real Matters
[email protected]
416.994.5930
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English (US)