The company also saw its agent count grow to 2,451, up 126 percent year over year, according to earnings figures released Tuesday.
Virtual brokerage Real, which began trading shares on the Nasdaq just this June, brought in $23 million in revenue during the second quarter of this year, according to, a newly released earnings report.
The report shows that Real’s revenue haul between April and June was an increase of 790 percent compared to the second quarter of 2020, when the firm brought in $2.5 million. The second quarter of 2020, it must be noted, was when the coronavirus pandemic first swept the continent. Additionally, the report shows that the company experienced a net loss of $2.9 million during the quarter, up from $1.2 million a year ago.
The revenue number is still on the small side compared to the big brokerages, but the company’s agent count continued ticking upward to 2,451, up 126 percent year over year.
Company founder and CEO Tamir Poleg said in a statement Wednesday that the firm’s substantial revenue growth was a result of “large increases in number of agents and revenue per agent.”
“In terms of outlook, on a monthly basis we added agents that collectively generated $20 million in trailing 12-month revenue recorded prior to joining Real,” he said. “Based on these figures, we expect strong growth to continue.”
Poleg founded Real in 2014. The company began selling shares on the Toronto Stock Exchange in 2020, and joined Nasdaq during the second quarter of this year.
Real’s stock fluctuated Wednesday after the company published its earnings report, but by midday was trading for around $2.10 per share, up about $0.09 compared to Tuesday’s closing price.
As of Wednesday, the Canada-based company had a market cap of about 418 million Canadian dollars, which is the equivalent of roughly $384 million in the U.S.
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