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CAPITAL AND RESERVES
 6 Months Ended
Jun. 30, 2026
Equity [Abstract]  
CAPITAL AND RESERVES

 

13. CAPITAL AND RESERVES

 

Common Shares

 

On May 14, 2024, the Company renewed its normal course issuer bid (“NCIB”) pursuant to which it was authorized to purchase up to approximately 9.47 million Common Shares, representing approximately 5% of the total 189 million Common Shares issued and outstanding as of May 1, 2024. The NCIB terminated May 28, 2025.

 

During the term of the NCIB, the Company acquired Common Shares primarily to satisfy obligations under its stock-based compensation plans, including the settlement of restricted share units.

 

On May 30, 2025, the Company announced a new share repurchase authorization, pursuant to which it may repurchase up to the lesser of 35 million shares, or $150 million in value. Repurchases may be made from time to time at prevailing market prices, subject to applicable Canadian securities laws. The program does not have a fixed expiration date and may be suspended or discontinued at any time. The program does not obligate the company to acquire any specific number of Common Shares. From May 30, 2025, through June 30, 2026, the Company has repurchased 7.1 million Common Shares in aggregate under the share repurchase authorization for $30.4 million. The Company did not repurchase any Common Shares during the three and six months ended June 30, 2026.

 

All Common Shares rank equally with regard to the Company’s residual assets. The following table presents the change in issued Common Shares for the periods presented (in thousands):

 

   June 30, 2026   December 31, 2025 
   As of 
   June 30, 2026   December 31, 2025 
Common Shares Issued, Beginning Balance   210,478    202,941 
Stock Options Exercised   182    4,390 
Release of Restricted Stock Units   7,284    10,716 
Retirement of Shares   —    (7,569)
Common Shares Issued, Ending Balance   217,944    210,478 

 

Treasury Stock

 

Treasury stock represents Common Shares repurchased by the Company and is recognized at cost as a reduction of shareholder’s equity. Treasury stock is subsequently reissued in connection with stock-based compensation awards or retired.

 

As of June 30, 2026, and December 31, 2025, the Company did not hold any treasury stock.

 

 

THE REAL BROKERAGE INC.

NOTES TO THE INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE PERIOD ENDED June 30, 2026 AND 2025

UNAUDITED