Bridgemarq Real Estate Services (BRE) investor relations material

Executive summary

• Revenue for Q2 2026 was CAD 97.5 million, down from CAD 108 million in Q2 2025, reflecting persistent market weakness and a lower agent count.

• Net loss narrowed to CAD 1.2 million from CAD 5.4 million year-over-year, with adjusted net earnings at CAD 0.9 million, down from CAD 2.2 million.

• Strategic investments in technology, AI, and digital platforms continued, including the launch of a new mobile app and enhanced marketing tools.

• A new capital allocation plan was announced, reducing the annualized dividend to CAD 0.05 per share to prioritize growth and technology investments.

• Free cash flow was CAD 2.2 million, down from CAD 3.6 million in Q2 2025, mainly due to lower operating income and higher capital expenditures.

Financial highlights

• Revenue declined 9.7% year-over-year to CAD 97.5 million due to lower agent count and softer market conditions.

• Gross Commission Income for Q2 2026 was CAD 82 million, down from CAD 90.2 million in Q2 2025.

• Operating expenses for Q2 2026 were CAD 12.1 million, down from CAD 13.2 million in Q2 2025.

• Adjusted net earnings per share for Q2 2026 were CAD 0.06, compared to CAD 0.14 in Q2 2025.

• Cash from operating activities increased to CAD 8.9 million, up from CAD 5.9 million, mainly due to deferred interest payments.

Outlook and guidance

• The company expects to capitalize on market stabilization and industry consolidation through strategic investments.

• Management expects stable borrowing costs to support housing market activity through the fall.

• Focus remains on executing long-term strategy, enhancing technology, and supporting agent productivity.

• The board will announce the first quarterly dividend under the new framework with Q3 results.

• The company anticipates a more balanced market environment in the second half of 2026 as buyers and sellers gradually return.