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eXp World Holdings, Inc.

EXPI

Financial Services

2mo

First Sequential Quarter-Over-Quarter Agent Growth Since Q2 2024

eXp Realty experienced its first quarter since Q2 2024 with sequential quarter-over-quarter growth in agent count.
Agent productivity metrics improved: sales transactions per agent up 4% YoY, icon agents up 9%, and 22% fewer agents left in Q2 YoY.
Focus on attracting and retaining high-performing agents, with 57% of nonproductive agents leaving industry in Q2.

COMP

Financial Services

2mo

Financial Performance Summary

Adjusted EBITDA reached a record $126 million, up 63% from $77 million a year ago.
Commissions and related expenses as a percentage of revenue improved by 80 basis points to 81.84%.
Compass delivered all-time high revenue of $2.06 billion in Q2 2025, a 21.1% year-over-year increase.
Free cash flow hit a record $68 million, improving from $40.4 million in Q2 2024 despite a $28.75 million class action settlement payment.
GAAP net income was $39.4 million, a 90% increase from $20.7 million in the prior year quarter.
Market share rose to 6.09%, up 96 basis points year-over-year and 8 basis points sequentially.
Non-GAAP operating expenses increased to $250 million, driven by acquisitions including Christie's International Real Estate.
Total transactions increased 20.9% year-over-year, with organic transactions up 6.3%, outperforming the market decline of 0.9%.

RE/MAX Holdings, Inc.

RMAX

Financial Services

2mo

Financial Performance Summary

Adjusted diluted EPS was $0.39 for the quarter.
Declines were driven by lower U.S. agent count, broker fees, and revenue from previous acquisitions, partially offset by new revenue streams including RE/MAX Media Network and lead concierge initiatives.
Revenue excluding marketing funds was $54.5 million, down 6.8% year-over-year due to negative organic growth of 5.7% and adverse foreign currency movements of 1.1%.
Selling, operating, and administrative expenses decreased by $1 million or 2.8% to $33.9 million, primarily due to lower personnel expenses partially offset by severance and investments in flagship websites.
Total leverage ratio was 3.58:1 as of June 30, consistent with March 31, with expectations to decrease in the second half of the year.
Total revenue for Q2 2025 was $72.8 million, with adjusted EBITDA of $26.3 million and an adjusted EBITDA margin of 36.1%, up 30 basis points from Q2 2024.

RE/MAX Holdings, Inc.

RMAX

Financial Services

2mo

Agent Count Record High

over 147,000 agents

We ended Q2 with over 147,000 agents in our global network, an all-time high.

Equity Residential

EQR

Financial Services

2mo

Financial Performance Summary

Blended rate growth was 3%, driven by a 5.2% renewal rate with 60% of residents renewing in the quarter.
Equity Residential's second quarter 2025 results exceeded expectations with strong resident retention and sustained demand across markets.
Expansion markets such as Atlanta and Dallas performed in line with expectations, with suburban acquisitions outperforming urban submarkets facing supply pressure.
Markets like Los Angeles and Denver faced challenges from weak job growth, quality of life issues, and heavy concession use.
Other strong markets included New York City with the highest occupancy and strong blended rate growth, and Washington, D.C. with high occupancy and rent growth despite recent softening.
Physical occupancy was high at 96.6%, with new lease rates slightly negative due to price sensitivity and concession use in supply-heavy markets.
San Francisco led the portfolio with 5.8% blended rate growth, driven by strong new lease and renewal increases and favorable migration patterns.

VTR

Financial Services

2mo

Accelerated Growth in Senior Housing Operating Portfolio (SHOP) with 18% Same-Store Cash NOI Growth in Q2

SHOP communities in the U.S. delivered 18% same-store cash NOI growth in Q2, adjusted for a prior year tax refund.
Revenue increased over 8% for the entire same-store SHOP portfolio.
Occupancy improved by 60 basis points sequentially in June, with move-ins reaching their second-highest level in over 5 years.
Management emphasized the strong momentum in occupancy and move-in activity, with continued growth expected into July.

S&P Global Inc.

SPGI

Financial Services

2mo

Growth in Mobility and Progress Toward Spin-Off Milestones

Mobility revenue increased 10%, with dealer revenue up 11%, driven by new products like CARFAX and automotiveMastermind.
The company is on track with its plan to spin off Mobility, with key milestones including internal carve-out, regulatory filings, and leadership appointments.
The CEO designate, Bill Eager, brings over 20 years of experience, and the transition is expected to be completed within 12-18 months.
Management highlighted the resilience of the business model despite macro uncertainties, and ongoing engagement with OEMs and manufacturers.