Is Real Matters (REAL) stock a buy after Q1 results?

January 29, 2022 01:18 AM AEDT | By Raza Naqvi

Is Real Matters (REAL) stock a buy after Q1 results? — Image source: © Solarseven | Megapixl.com

Real Matters' Q1 2022 Financial Results: Key highlights

Real Matters' U.S. Appraisal purchase and refinance revenues increased a combined 13.9 per cent year-over-year (YoY). However, the U.S. Title revenues declined.

Revenues from U.S. Appraisal were US$ 79.4 million in Q1 2022 compared to US$ 69.6 million, reflecting an increase of 14.1 per cent YoY. Meanwhile, the revenues from U.S. Title declined to US$ 16.2 million from US$ 39.9 million in Q1 2021.

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The consolidated adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) were US$ 5.9 million in Q1 2022, declining by 66 per cent YoY.

Real Matters' net income reduced to US$ 2.6 million in the first quarter of fiscal 2022 from US$ 7.1 million in Q1 2021.

Bottom line

Real Matters is looking to expand, and in Q1 2022, the company added four new lenders and one new channel in one of U.S. Appraisal's lenders.

The financial report claimed that it ranked as the number one vendor with two Tier 2 clients in the U.S. Title segment. In addition, it gave a top performance on Tier 1 scorecards in the U.S. Appraisal segment.

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