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OPERATING SEGMENTS DISCLOSURES | 6 Months Ended
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Jun. 30, 2026
Segment Reporting [Abstract] |
OPERATING SEGMENTS DISCLOSURES |
5. | OPERATING SEGMENTS DISCLOSURES
The Company identifies an operating segment as a component of the business that (i) engages in business activities from which it may earn revenues and incur expenses, (ii) has discrete financial information available, and (iii) is regularly reviewed by the Company’s Chief Operating Decision Maker (“CODM”) to assess performance and allocate resources. Segment information is prepared on the same basis used by the CODM, who is the Company’s Chief Executive Officer, to manage the business and make decisions regarding allocating resources and performance evaluation. Based on this assessment, the Company has identified the following operating segments:
| ● | North American Brokerage - generates revenue by processing real estate transactions, which entitles the Company to earn commissions.
| ● | One Real Title - generates revenue by offering title insurance and closing services for residential and commercial transactions.
| ● | One Real Mortgage - generates revenue from origination fees earned in connection with facilitating mortgage transactions between borrowers and lenders.
| ● | Real Wallet - generates revenue from interchange fees on Company-branded debit cards, interest income on certain deposit accounts, and interest income and various fees associated with business loans.
Once operating segments are identified, the Company evaluates each segment using both quantitative and qualitative analysis, including current and historical revenue and profitability for each operating segment, to determine whether the segments have similar operating characteristics and whether they meet the criteria for separate disclosure under ASC 280. Based on this evaluation, the Company has determined that it operates as three reportable segments - North American Brokerage, One Real Title and One Real Mortgage, each of which meets the quantitative thresholds for separate disclosure under ASC 280-10-50-12 and which collectively comprise more than 90% of the Company’s total revenue and income (loss) from operations. Real Wallet does not meet any of the quantitative thresholds for separate disclosure under ASC 280 and is therefore included within “Other Segments”. Prior period segment information has been recast to reflect the change in the number of reportable segments and allocate revenue, cost of sales and operating expenses between the various segments. The CODM evaluates segment performance using revenue, gross profit and operating income (loss). These metrics are used to assess performance, identify trends affecting the segments, develop forecasts and make strategic operating decisions. All segments follow the same basis of presentation and accounting policies as those described throughout the notes to the interim condensed consolidated financial statements and as included herein. SCHEDULE OF OPERATING SEGMENT
|  | North American Brokerage |  |  | One Real Title |  |  | One Real Mortgage |  |  | Other Segments |  |  | Total |
|  | For the Three Months Ended June 30, 2026 |
|  | North American Brokerage |  |  | One Real Title |  |  | One Real Mortgage |  |  | Other Segments |  |  | Total |
Revenues |  | $ | 696,364 |  |  | $ | 1,743 |  |  | $ | 1,876 |  |  | $ | 592 |  |  | $ | 700,575 |
Cost of sales |  |  | 640,858 |  |  |  | 255 |  |  |  | 1,118 |  |  |  | 88 |  |  |  | 642,319 |
Gross Profit |  | $ | 55,506 |  |  | $ | 1,488 |  |  | $ | 758 |  |  | $ | 504 |  |  | $ | 58,256 |
Segment Operating Expenses(1)(2) |  |  | 50,756 |  |  |  | 2,045 |  |  |  | 384 |  |  |  | 519 |  |  |  | 53,704 |
Segment Operating Income (Loss) |  | $ | 4,750 |  |  | $ | (557 | ) |  | $ | 374 |  |  | $ | (15 | ) |  | $ | 4,552 |
Reconciliation of profit or (loss) (segment profit/(loss)) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Acquisition costs |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 11,582 |
Operating Loss |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (7,030 | )
Other income, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 192 |
Finance expense, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (631 | )
Loss Before Tax |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | (7,469 | )
1 |  | Segment Operating expenses consist of General and administrative expenses, Marketing expenses, and Research and development expenses.
2 |  | Segment Operating expenses also include Revenue share expense of approximately $22,210 thousand for the three months ended June 30, 2026, which was recorded in the North American Brokerage segment.
THE REAL BROKERAGE INC. NOTES TO THE INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS FOR THE PERIOD ENDED June 30, 2026 AND 2025 UNAUDITED
|  | North American Brokerage |  |  | One Real Title |  |  | One Real Mortgage |  |  | Other Segments |  |  | Total |
|  | For the Six Months Ended June 30, 2026 |
|  | North American Brokerage |  |  | One Real Title |  |  | One Real Mortgage |  |  | Other Segments |  |  | Total |
Revenues |  | $ | 1,158,926 |  |  | $ | 3,002 |  |  | $ | 3,170 |  |  | $ | 1,028 |  |  | $ | 1,166,126 |
Cost of sales |  |  | 1,063,153 |  |  |  | 437 |  |  |  | 1,924 |  |  |  | 201 |  |  |  | 1,065,715 |
Gross Profit |  | $ | 95,773 |  |  | $ | 2,565 |  |  | $ | 1,246 |  |  | $ | 827 |  |  | $ | 100,411 |
Segment Operating Expenses(1)(2) |  |  | 92,624 |  |  |  | 3,900 |  |  |  | 1,332 |  |  |  | 1,131 |  |  |  | 98,987 |
Segment Operating Income (Loss) |  | $ | 3,149 |  |  | $ | (1,335 | ) |  | $ | (86 | ) |  | $ | (304 | ) |  | $ | 1,424 |
Reconciliation of profit or (loss) (segment profit/(loss)) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Acquisition costs |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 11,894 |
Operating Loss |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (10,470 | )
Other income, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 304 |
Finance expense, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (717 | )
Loss Before Tax |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | (10,883 | )
1 |  | Segment Operating expenses consist of General and administrative expenses, Marketing expenses, and Research and development expenses.
2 |  | Segment Operating expenses also include Revenue share expense of approximately $37,898 thousand for the six months ended June 30, 2026, which was recorded in the North American Brokerage segment.
|  | North American Brokerage |  |  | One Real Title |  |  | One Real Mortgage |  |  | Other Segments |  |  | Total |
|  | For the Three Months Ended June 30, 2025 |
|  | North American Brokerage |  |  | One Real Title |  |  | One Real Mortgage |  |  | Other Segments |  |  | Total |
Revenues |  | $ | 537,445 |  |  | $ | 1,346 |  |  | $ | 1,709 |  |  | $ | 247 |  |  | $ | 540,747 |
Cost of sales |  |  | 491,737 |  |  |  | 216 |  |  |  | 900 |  |  |  | 33 |  |  |  | 492,886 |
Gross Profit |  | $ | 45,708 |  |  | $ | 1,130 |  |  | $ | 809 |  |  | $ | 214 |  |  | $ | 47,861 |
Segment Operating Expenses(1)(2) |  |  | 42,222 |  |  |  | 2,123 |  |  |  | 1,492 |  |  |  | 340 |  |  |  | 46,177 |
Segment Operating Income (Loss) |  | $ | 3,486 |  |  | $ | (993 | ) |  | $ | (683 | ) |  | $ | (126 | ) |  | $ | 1,684 |
Reconciliation of profit or loss (segment profit/loss) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other income, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 166 |
Finance expenses, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (300 | )
Income Before Tax |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 1,550 |
1 |  | Segment Operating expenses consist of General and administrative expenses, Marketing expenses, and Research and development expenses.
2 |  | Segment Operating expenses also include Revenue share expense of approximately $17,644 thousand for the three months ended June 30, 2025, which was recorded in the North American Brokerage segment.
THE REAL BROKERAGE INC. NOTES TO THE INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS FOR THE PERIOD ENDED June 30, 2026 AND 2025 UNAUDITED
|  | North American Brokerage |  |  | One Real Title |  |  | One Real Mortgage |  |  | Other Segments |  |  | Total |
|  | For the Six Months Ended June 30, 2025 |
|  | North American Brokerage |  |  | One Real Title |  |  | One Real Mortgage |  |  | Other Segments |  |  | Total |
Revenues |  | $ | 889,194 |  |  | $ | 2,376 |  |  | $ | 2,785 |  |  | $ | 373 |  |  | $ | 894,728 |
Cost of sales |  |  | 810,986 |  |  |  | 383 |  |  |  | 1,477 |  |  |  | 85 |  |  |  | 812,931 |
Gross Profit |  | $ | 78,208 |  |  | $ | 1,993 |  |  | $ | 1,308 |  |  | $ | 288 |  |  | $ | 81,797 |
Segment Operating Expenses(1)(2) |  |  | 77,623 |  |  |  | 4,411 |  |  |  | 2,792 |  |  |  | 496 |  |  |  | 85,322 |
Segment Operating Income (Loss) |  | $ | 585 |  |  | $ | (2,418 | ) |  | $ | (1,484 | ) |  | $ | (208 | ) |  | $ | (3,525 | )
Reconciliation of profit or loss (segment profit/loss) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other income, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 288 |
Finance expenses, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (334 | )
Loss Before Tax |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | (3,571 | )
1 |  | Segment Operating expenses consist of General and administrative expenses, Marketing expenses, and Research and development expenses.
2 |  | Segment Operating expenses also include Revenue share expense of approximately $30,148 thousand for the six months ended June 30, 2025, which was recorded in the North American Brokerage segment.
Segment revenue reported above represents revenue generated from external customers. There were no intersegment sales for the periods ended June 30, 2026, and June 30, 2025. Segment assets and liabilities are not regularly provided to the Chief Operating Decision Maker and, accordingly, are not disclosed. Depreciation and Amortization (in thousands): SCHEDULE OF DEPRECIATION AND AMORTIZATION
|  | 2026 |  |  | 2025 |  |  | 2026 |  |  | 2025 |
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
|  | 2026 |  |  | 2025 |  |  | 2026 |  |  | 2025 |
North American Brokerage |  | $ | 358 |  |  | $ | 204 |  |  | $ | 739 |  |  | $ | 388 |
One Real Title |  |  | 168 |  |  |  | 168 |  |  |  | 336 |  |  |  | 336 |
One Real Mortgage |  |  | 27 |  |  |  | 26 |  |  |  | 53 |  |  |  | 53 |
Total |  | $ | 553 |  |  | $ | 398 |  |  | $ | 1,128 |  |  | $ | 777 |
Depreciation and Amortization |  | $ | 553 |  |  | $ | 398 |  |  | $ | 1,128 |  |  | $ | 777 |
The amount of revenue from external customers, by geography, is shown in the table below (in thousands): SCHEDULE OF REVENUE GEOGRAPHY
|  | 2026 |  |  | 2025 |  |  | 2026 |  |  | 2025 |
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
|  | 2026 |  |  | 2025 |  |  | 2026 |  |  | 2025 |
United States |  | $ | 638,273 |  |  | $ | 480,678 |  |  | $ | 1,066,415 |  |  | $ | 801,170 |
Canada |  |  | 62,302 |  |  |  | 60,069 |  |  |  | 99,711 |  |  |  | 93,558 |
Total revenue by region |  | $ | 700,575 |  |  | $ | 540,747 |  |  | $ | 1,166,126 |  |  | $ | 894,728 |
THE REAL BROKERAGE INC. NOTES TO THE INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS FOR THE PERIOD ENDED June 30, 2026 AND 2025 UNAUDITED

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