| Reconciliation of Numerator and Denominator used in Basic and Diluted EPS Calculations |
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, | | | 2026 | | 2025 | | 2026 | | 2025 | Numerator | | | | | | | | | | | | | Net income (loss) attributable to RE/MAX Holdings, Inc. | | $ | (4,295) | | $ | 4,685 | | $ | (14,036) | | $ | 2,727 | Denominator for basic net income (loss) per share of Class A common stock | | | | | | | | | | | | | Weighted average shares of Class A common stock outstanding | | | 21,284,638 | | | 19,967,508 | | | 20,888,134 | | | 19,629,859 | Denominator for diluted net income (loss) per share of Class A common stock | | | | | | | | | | | | | Weighted average shares of Class A common stock outstanding | | | 21,284,638 | | | 19,967,508 | | | 20,888,134 | | | 19,629,859 | Add dilutive effect of the following: | | | | | | | | | | | | | Restricted stock (a) | | | — | | | 206,857 | | | — | | | 422,737 | Weighted average shares of Class A common stock outstanding, diluted | | | 21,284,638 | | | 20,174,365 | | | 20,888,134 | | | 20,052,596 | Net income (loss) attributable to RE/MAX Holdings, Inc. per share of Class A common stock | | | | | | | | | | | | | Basic | | $ | (0.20) | | $ | 0.23 | | $ | (0.67) | | $ | 0.14 | Diluted | | $ | (0.20) | | $ | 0.23 | | $ | (0.67) | | $ | 0.14 |
| (a) | As the Company had a net loss for the three and six months ended June 30, 2026, these shares would have been considered antidilutive and therefore there is no effect on the weighted average shares of Class A common stock outstanding EPS calculation. |
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