| Summary of Ownership of the Common Units |
Holdings is the sole managing member of RMCO and operates and controls the business affairs of RMCO. The ownership of the common units in RMCO is summarized as follows: | | | | | | | | | | | | | June 30, 2026 | | | December 31, 2025 | | | | Shares | | Ownership % | | | Shares | | Ownership % | | Non-controlling interest ownership of common units in RMCO | | 12,559,600 | | 37.1 | % | | 12,559,600 | | 38.5 | % | Holdings outstanding Class A common stock (equal to Holdings common units in RMCO) | | 21,317,742 | | 62.9 | % | | 20,095,180 | | 61.5 | % | Total common units in RMCO | | 33,877,342 | | 100.0 | % | | 32,654,780 | | 100.0 | % |
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| Reconciliation from Income Before Provision for Income Taxes to Net Income |
A reconciliation of “Income (loss) before provision for income taxes” to “Net income (loss) attributable to RE/MAX Holdings, Inc.” and “Net Income (loss) attributable to non-controlling interest” in the accompanying Condensed Consolidated Statements of Income (Loss) for the periods indicated is detailed as follows (in thousands, except percentages): | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | | | 2026 | | 2025 | | | | Holdings | | NCI | | Total | | Holdings | | NCI | | Total | | WAO percentage of RMCO (a) | | | 62.9 | % | | 37.1 | % | | 100.0 | % | | 61.4 | % | | 38.6 | % | | 100.0 | % | Income (loss) before provision for income taxes (a) | | $ | (3,316) | | $ | (1,891) | | $ | (5,207) | | $ | 4,183 | | $ | 2,678 | | $ | 6,861 | | (Provision) / benefit for income taxes (b) | | | (979) | | | (578) | | | (1,557) | | | 502 | | | (665) | | | (163) | | Net income (loss) | | $ | (4,295) | | $ | (2,469) | | $ | (6,764) | | $ | 4,685 | | $ | 2,013 | | $ | 6,698 | | | | | | | | | | | | | | | | | | | | | | | | Six Months Ended June 30, | | | 2026 | | 2025 | | | | Holdings | | NCI | | Total | | Holdings | | NCI | | Total | | WAO percentage of RMCO(a) | | | 62.5 | % | | 37.5 | % | | 100.0 | % | | 61.0 | % | | 39.0 | % | | 100.0 | % | Income (loss) before provision for income taxes(a) | | $ | (12,054) | | $ | (7,245) | | $ | (19,299) | | $ | 3,357 | | $ | 2,138 | | $ | 5,495 | | (Provision) / benefit for income taxes(b) | | | (1,982) | | | (1,192) | | | (3,174) | | | (630) | | | (1,403) | | | (2,033) | | Net income (loss) | | $ | (14,036) | | $ | (8,437) | | $ | (22,473) | | $ | 2,727 | | $ | 735 | | $ | 3,462 | |
| (a) | The WAO percentage of RMCO differs from the allocation of income (loss) before provision for income taxes between RE/MAX Holdings and the non-controlling interest due to certain items recorded at Holdings. |
| (b) | The provision for income taxes attributable to Holdings is primarily comprised of U.S. federal and state income taxes on its proportionate share of the pass-through income (loss) from RMCO. It also includes Holdings’ share of taxes directly incurred by RMCO and its subsidiaries, including taxes in certain foreign jurisdictions. |
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