What does RE/MAX Holdings do and what are its main business segments?

What is RE/MAX Holdings's gross profit margin?

What is the market's earnings forecast for RE/MAX Holdings next quarter?

What were the key takeaways from RE/MAX Holdings’s earnings call?

What factors drove the changes in RE/MAX Holdings's revenue and profit?

What is the revenue and EPS growth rate for RE/MAX Holdings year over year?

Did RE/MAX Holdings beat or miss consensus estimates last quarter?

What guidance did RE/MAX Holdings's management provide for the next earnings period?

- **Agent Growth Record**: Global agent count hits 147,500, with 1,500 in Aspire program showing higher retention. New Ascend/Appreciate models offer fee flexibility.
- **Marketing Success**: Marketing as a Service platform generates weekly orders (low 7-figure annual run rate). Media Network on track for 7-digit 2025 revenue.
- **Mortgage Expansion**: New leadership driving strategy to integrate with agent networks, with potential for margin improvement.
- **Financial Flexibility**: Leverage below 3.5x, enabling share buybacks. Q3 EBITDA $25.8M (35.2% margin), EPS $0.37.

**【CEO Summary Section】**
- **Record Agent Growth**: Global agent count reached 147,500 (U.S. at 3-year high), with 1,500 agents in the Aspire program showing higher retention. New Ascend and Appreciate models offer flexible fee structures.
- **Marketing Innovation**: Marketing as a Service platform launched, generating weekly orders with a low 7-figure annual run rate. RE/MAX Media Network on track for 7-digit 2025 revenue.
- **Mortgage Expansion**: New leadership in mortgage services (Vic Lombardo) driving strategy to integrate with agent networks and improve operational efficiency.

**【CFO Financial Commentary】**
- **Q3 Financials**: Revenue $73.3M, Adjusted EBITDA $25.8M (35.2% margin), EPS $0.37. Organic revenue down 5.4% due to fee model changes, offset by marketing initiatives.
- **Leverage & Buybacks**: Total leverage 3.41x (below 3.5x threshold), enabling share buybacks at current price levels.

**【Q&A Highlights】**
- **Program Margins**: Marketing as a Service and Media Network expected to deliver high single to low double-digit margins. Aspire program暂未盈利但提升长期生产力.
- **M&A Impact**: Industry consolidation seen as opportunity; RE/MAX franchise sales pipeline strong, with agents drawn to new economic models.
- **Mortgage Outlook**: Mortgage business in early stages of repositioning, with focus on integrating with agent networks and improving operational efficiency.

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