The company maintains a debt-free capital structure with $82.8M in cash as of 2026Q1, though this is offset by deeply negative retained earnings of -$116.3M.
| Total Current Assets | 136.7M | 105.76M | 72.91M | 50.51M | 28.37M | 38.66M | 21.7M | 195K | 357.59K |
| Cash & Short-Term Investments | - | - | - | - | - | - | - | - | - |
| Cash Only | 82.82M | 59.55M | 23.38M | 14.71M | 10.85M | 29.08M | 21.23M | 53K | 357.59K |
| Short-Term Investments | 16.9M | 16.73M | 9.45M | 14.22M | 7.89M | 8.81M | 0 | 0 | 0 |
| Accounts Receivable | - | - | - | - | - | - | - | - | - |
| Days Sales Outstanding | - | - | - | - | - | - | - | - | - |
| Inventory | 0 | 0 | 0 | 0 | 0 | 47K | 47K | 0 | -522K |
| Days Inventory Outstanding | - | - | - | - | - | 0.16 | 1.19 | - | - |
| Other Current Assets | 2.79M | 3.08M | 24.09M | 12.95M | 7.48M | 3.31M | 47K | 43K | 246K |
| Total Non-Current Assets | 20.2M | 21.1M | 13.68M | 14.04M | 15.39M | 1.33M | 207K | 213K | 350K |
| Property, Plant & Equipment | 2.45M | 2.46M | 2.12M | 1.6M | 1.42M | 279K | 207K | 213K | 350K |
| Fixed Asset Turnover | 853.85x | 801.80x | 597.66x | 430.72x | 268.28x | 436.13x | 80.00x | 73.95x | 24.13x |
| Goodwill | 8.99M | 8.99M | 8.99M | 8.99M | 10.26M | 602K | 0 | 0 | 0 |
| Intangible Assets | 3.81M | 4.16M | 2.58M | 3.44M | 3.71M | 451K | 0 | 0 | 0 |
| Long-Term Investments | 0 | - | - | - | - | - | - | - | - |
| Other Non-Current Assets | - | - | - | - | - | - | - | - | - |
| Total Assets | 156.91M | 126.86M | 86.59M | 64.55M | 43.76M | 40M | 21.91M | 408K | 357.59K |
| Asset Turnover | 14.38x | 15.52x | 14.60x | 10.68x | 8.72x | 3.04x | 0.76x | 38.61x | 23.61x |
| Asset Growth % | 180.06% | 46.5% | 34.16% | 47.5% | 9.41% | 82.58% | 5269.36% | 14.1% | - |
| Total Current Liabilities | 91.32M | 75.27M | 54.45M | 27.2M | 21.11M | 12.31M | 964K | 498K | 14.09K |
| Accounts Payable | 931K | 1.16M | 1.37M | 571K | 474K | 54K | 815K | 336K | 352K |
| Days Payables Outstanding | 0.21 | 0.23 | 0.44 | 0.33 | 0.49 | 0.18 | 20.65 | 8.9 | 18.01 |
| Short-Term Debt | - | - | - | - | - | - | - | - | - |
| Deferred Revenue (Current) | 0 | - | - | - | - | - | - | - | - |
| Other Current Liabilities | 90.39M | 74.11M | 3.05M | 13.25M | 8.67M | 40K | 64K | 40K | -459.92K |
| Current Ratio | 1.50x | 1.41x | 1.34x | 1.86x | 1.34x | 3.14x | 22.51x | 0.39x | 25.39x |
| Quick Ratio | 1.50x | 1.41x | 1.34x | 1.86x | 1.34x | 3.14x | 22.46x | 0.39x | 62.45x |
| Cash Conversion Cycle | - | - | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 10K | 10K | 0 | 269K | 242K | 2.95M | 145K | 11.85M | 10.97M |
| Long-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 11.75M | 10.75M |
| Capital Lease Obligations | 0 | - | - | - | - | - | - | - | - |
| Deferred Tax Liabilities | 0 | - | - | - | - | - | - | - | - |
| Other Non-Current Liabilities | - | - | - | - | - | - | - | - | - |
| Total Liabilities | 91.33M | 75.28M | 54.45M | 27.46M | 21.35M | 12.99M | 1.11M | 12.35M | 14.09K |
| Total Debt | 0 | 0 | 0 | 0 | 96K | 131K | 215K | 11.97M | 10.97M |
| Net Debt | -82.82M | -59.55M | -23.38M | -14.71M | -10.75M | -28.95M | -21.01M | 11.92M | 10.61M |
| Debt / Equity | 0.00x | - | - | - | 0.00x | 0.00x | 0.01x | - | 31.94x |
| Debt / EBITDA | -0.00x | - | - | - | - | - | - | - | - |
| Net Debt / EBITDA | 19.30x | - | - | - | - | - | - | - | - |
| Interest Coverage | - | -15.34x | -23.22x | -391.49x | -21.06x | -111.54x | -24.86x | -2.86x | - |
| Total Equity | 65.58M | 51.59M | 32.14M | 37.08M | 22.41M | 27M | 20.8M | -11.94M | 343.5K |
| Equity Growth % | 299.71% | 60.49% | -13.32% | 65.44% | -16.99% | 29.84% | 274.19% | -3575.93% | - |
| Book Value per Share | 0.29 | 0.23 | 0.17 | 0.21 | 0.13 | 0.15 | 0.20 | -0.09 | 0.00 |
| Total Shareholders' Equity | 65.69M | 51.67M | 32.15M | 36.88M | 22.15M | 27M | 5.98M | -11.94M | 343.5K |
| Common Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 400.98K | 380.71K |
| Retained Earnings | -116.27M | -112.85M | -104.75M | -78.2M | -50.7M | -30.13M | -18.45M | -14.83M | -107.97K |
| Treasury Stock | 0 | 0 | -2.46M | -257K | -14.96M | -12.64M | 0 | 0 | 0 |
| Accumulated OCI | 701K | 318K | 708K | 52.77M | 24.61M | 6.38M | 2.76M | 1.62M | 70.77K |
| Minority Interest | -111K | -90K | -3K | 209K | 263K | 0 | 14.82M | 0 | 0 |
Equity-based dilution and liquidity
As reported in financial statements, REAX has grown total assets from $64.5M in 2023Q4 to $156.9M by 2026Q1, though this expansion is primarily funded by equity issuance rather than retained earnings, which remain deeply negative at -$116.3M, signaling a reliance on external capital to sustain operations.
The trajectory of the balance sheet reflects a company prioritizing scale over internal capital generation. While asset growth is evident, the persistent accumulation of deficits in retained earnings suggests that the business model has yet to reach a self-sustaining level of profitability.
Based on recent quarterly filings, REAX maintains a cash position of $82.8M as of 2026Q1, providing a current ratio of 1.50, which appears sufficient to cover near-term obligations despite the company's ongoing struggle to achieve consistent positive operating cash flow in a volatile housing market.
The current ratio indicates a reasonable liquidity cushion, yet investors should monitor how quickly this cash is consumed by operating expenses and agent-related payouts. The fluctuation in cash balances over the last ten quarters suggests that liquidity is highly sensitive to the timing of commission cycles.
According to the provided balance sheet data, equity has grown to $65.7M by 2026Q1, yet this growth is heavily influenced by the issuance of shares to attract agents, a strategy that warrants further investigation regarding the long-term impact of dilution on existing shareholder value.
The reliance on equity-based compensation as a primary tool for agent recruitment effectively shifts the cost of growth from the income statement to the balance sheet. This approach may artificially support the appearance of a lean cost structure while simultaneously diluting the ownership stake of long-term investors.
As indicated by the company's reported figures, the asset base is relatively light on tangible property, with net PPE of only $2.5M, suggesting that the firm's value is tied more to intangible agent networks than to physical infrastructure, which may be vulnerable to rapid shifts in industry sentiment.
The minimal investment in physical assets confirms the cloud-based brokerage model, but it also implies that the company lacks a significant tangible floor in the event of a downturn. The stability of the balance sheet is therefore entirely dependent on the continued productivity and retention of the agent base.
Quick answers to the most common questions about buying REAX stock.
As of 2025, The Real Brokerage Inc. (REAX) had total assets of $126.9M including $105.8M in current assets.
The Real Brokerage Inc. (REAX) carries total debt of $0.0M. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
The Real Brokerage Inc. (REAX) has total shareholders' equity (book value) of $51.7M ($0.23 book value per share). Book value represents the net worth of the company belonging to common stock holders.
The Real Brokerage Inc. (REAX) reported a current ratio of 1.41x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.