The Real Brokerage Inc. (REAX) quarterly cash flow statement — complete operating, investing & financing history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Cash from Operations | 23.28M | -722.61K | 19.23M | 41.02M | 15.95M | 4.08M | 7.2M | 15.97M | 21.48M | -6.15M | -7.93M | 23.59M | 9.28M | -3.62M | -3.89M | 1.31M | 12.19M | 1.66M | 1.03M | 706K |
| Operating CF Margin % | 5% | -0.14% | 3.38% | 7.59% | 4.51% | 1.17% | 1.93% | 4.69% | 10.7% | -3.39% | -3.7% | 12.73% | 8.6% | -3.77% | -3.48% | 1.17% | 19.78% | 3.28% | 2.67% | 3.06% |
| Operating CF Growth % | 45.96% | -117.69% | 167.17% | 156.84% | -25.74% | 166.43% | 190.72% | -32.3% | 131.52% | -69.72% | -104.01% | 1697.87% | -23.91% | -318.78% | -476.02% | 85.84% | 2295.68% | 310.96% | 580.93% | 214.42% |
| Net Income | -3.42M | -4.2M | -280K | 1.55M | -5.12M | -6.71M | -2.54M | -1.22M | -16.1M | -11.96M | -3.94M | -4.12M | -7.32M | -6.76M | -5.17M | -4.16M | -4.25M | -4.19M | -1.06M | -2.95M |
| Depreciation & Amortization | 575K | 585K | 567K | 398K | 379K | 372K | 358K | 340K | 326K | 298K | 277K | 284K | 269K | 108K | 87K | 135K | 3K | 84K | 42K | 44K |
| Stock-Based Compensation | 0 | 0 | 19.91M | 17.8M | 12.71M | 15.12M | 15.42M | 13.54M | 8.84M | 19.42M | 7.14M | 6.08M | 5.76M | 13.88M | 1.11M | 274K | 937K | 1.11M | -1.7M | 1.87M |
| Deferred Taxes | 0 | -922.93K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -23.94M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Cash Items | 17.03M | 17.02M | 21.73M | 62K | -149K | 338K | -33K | 479K | 400K | 24.44M | -143K | 116K | 183K | 54K | 39K | -239K | 313K | 386K | 7K | 158K |
| Working Capital Changes | 9.1M | -13.2M | -22.7M | 21.21M | 8.13M | -5.04M | -6M | 2.83M | 27.48M | -14.4M | -11.27M | 21.09M | 10.38M | -10.9M | 42K | 5.3M | 15.19M | 4.27M | 3.75M | 1.58M |
| Change in Receivables | -7.25M | 3.85M | -5.95M | -11.28M | -5.46M | 3.11M | 1.34M | -8.98M | -3.12M | -3.84M | -614K | -526K | 148K | -764K | -543K | 111K | -97K | 21K | -66K | 518K |
| Change in Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3.08M | 6.69M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Change in Payables | -230K | 87.1K | -936.91K | 324K | -447K | 241K | -63K | 98.58K | 522K | -83.63K | -493K | 776K | -104K | -7.07M | 1.97M | 4.07M | 1.45M | 649K | 2.71M | 622K |
| Cash from Investing | -337K | 2.59M | -19.71M | 2.88M | -1.38M | 854K | -487K | 3.69M | -245K | -173.23K | -3.23M | -2.49M | -646K | -676K | -302K | -249K | -7.82M | -156K | -22K | -29K |
| Capital Expenditures | -238K | -116.5K | -3.13M | -255K | -285K | -81K | -367K | -501K | -96K | -173.42K | -197K | -110K | -140K | -481K | -302K | -249K | -376K | -107K | -22K | -29K |
| CapEx % of Revenue | 0.05% | 0.02% | 0.55% | 0.05% | 0.08% | 0.02% | 0.1% | 0.15% | 0.05% | 0.1% | 0.09% | 0.06% | 0.13% | 0.5% | 0.27% | 0.22% | 0.61% | 0.21% | 0.06% | 0.13% |
| Acquisitions | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -149K | 0 | -3.04M | -2.38M | -506K | 637K | -101.85K | -30K | 0 | 0 | 0 | -65K |
| Cash from Financing | 69K | -15.15M | -12.55M | -2.88M | -7.1M | -6.77M | -13.97M | -7.94M | -4.37M | -1.55M | -273K | -680K | -615K | 556K | -6.66M | 2.77M | -4.51M | -8.73M | -2.84M | 16.69M |
| Debt Issued (Net) | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Equity Issued (Net) | 53K | -14.2M | -11.26M | -2.71M | -6.12M | -5.95M | -15.11M | -10.6M | -4.62M | -1.17M | -350K | -810K | -601K | -1.15M | -1.22M | -1.18M | -4.51M | -8.87M | -2.85M | -919K |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | -14.77M | -9.16M | -2.71M | -6.12M | -5.95M | -15.11M | -10.6M | -4.62M | -1.1M | -350K | -810K | -601K | -1.15M | -1.22M | -1.18M | -4.51M | -8.87M | -2.85M | -919K |
| Other Financing | 16K | -959.64K | -1.29M | -170K | -979K | -826K | 1.14M | 2.66M | 254K | -378.51K | 77K | 146K | 66K | 1.67M | 2K | -19K | 23K | 185.13K | 37K | 17.63M |
| Net Change in Cash | 23.27M | -12.82M | -23.54M | 40.95M | 7.5M | -1.63M | -7.34M | 21.18M | 16.86M | -7.68M | -11.41M | 20.33M | 8.08M | -3.62M | -10.58M | 3.58M | -141K | -7M | -1.88M | 17.38M |
| Free Cash Flow | 23.04M | -875.56K | 18.88M | 40.76M | 15.66M | 4M | 6.83M | 24.39M | 21.38M | -6.32M | -8.13M | 23.48M | 9.14M | -4.1M | -4.19M | 1.06M | 11.82M | 1.55M | 1.01M | 677K |
| FCF Margin % | 4.95% | -0.17% | 3.32% | 7.54% | 4.43% | 1.14% | 1.83% | 7.16% | 10.65% | -3.49% | -3.79% | 12.67% | 8.47% | -4.27% | -3.75% | 0.95% | 19.17% | 3.07% | 2.61% | 2.93% |
| FCF Growth % | 47.09% | -121.87% | 176.53% | 67.11% | -26.74% | 163.33% | 184.01% | 3.9% | 134.01% | -54.06% | -94.01% | 2108.65% | -22.68% | -364.95% | -514.03% | 57.02% | 2287.47% | 295.09% | 555.86% | 209.72% |
| FCF per Share | 0.10 | -0.00 | 0.09 | 0.17 | 0.08 | 0.02 | 0.03 | 0.13 | 0.12 | -0.03 | -0.05 | 0.13 | 0.05 | -0.02 | -0.02 | 0.01 | 0.07 | 0.01 | 0.01 | 0.01 |
| FCF Conversion (FCF/Net Income) | -6.81x | 0.17x | -43.01x | 27.13x | -3.21x | -0.61x | -2.78x | -13.14x | -1.33x | 0.51x | 1.97x | -5.73x | -1.25x | 0.55x | 0.65x | -0.32x | -2.96x | -0.39x | -0.93x | -0.23x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |