Earnings (Loss) Per Share, Dividends and Repurchases

6 Months Ended

Jun. 30, 2025

Earnings (Loss) Per Share, Dividends and Repurchases

Earnings (Loss) Per Share, Dividends and Repurchases

4. Earnings (Loss) Per Share, Dividends and Repurchases

Earnings (Loss) Per Share

The following is a reconciliation of the numerator and denominator used in the basic and diluted earnings (loss) per share (“EPS”) calculations (in thousands, except shares and per share information):


	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2025		2024		2025		2024
Numerator
Net income (loss) attributable to RE/MAX Holdings, Inc.	$	4,685	$	3,705	$	2,727	$	352
Denominator for basic net income (loss) per share of Class A common stock
Weighted average shares of Class A common stock outstanding		19,967,508		18,853,929		19,629,859		18,667,889
Denominator for diluted net income (loss) per share of Class A common stock
Weighted average shares of Class A common stock outstanding		19,967,508		18,853,929		19,629,859		18,667,889
Add dilutive effect of the following:
Restricted stock		206,857		150,033		422,737		185,131
Weighted average shares of Class A common stock outstanding, diluted		20,174,365		19,003,962		20,052,596		18,853,020
Net income (loss) attributable to RE/MAX Holdings, Inc. per share of Class A common stock
Basic	$	0.23	$	0.20	$	0.14	$	0.02
Diluted	$	0.23	$	0.19	$	0.14	$	0.02

Outstanding Class B common stock does not share in the earnings of Holdings and is therefore not a participating security. Accordingly, basic and diluted net income (loss) per share of Class B common stock has not been presented.

Dividends

In the fourth quarter of 2023, in light of the litigation settlement (See Note 11, Commitments and Contingencies), the Company’s Board of Directors suspended the Company’s quarterly dividend and therefore no dividends have been paid since.

Share Repurchases and Retirement

The Company’s Board of Directors has authorized a common stock repurchase program of up to $100 million. The share repurchase program has no expiration date and may be suspended or discontinued at any time. During the six months ended June 30, 2025 and 2024, the Company did not repurchase any shares of the Company’s Class A common stock. As of June 30, 2025, $62.5 million remained available under the share repurchase program.