REA Group (REA) Q3 2026 earnings summary

Executive summary

• Q3 FY26 revenue from core operations rose 11% year-over-year excluding M&A, reaching AUD 398 million, with double-digit revenue growth in Australian operations and all major segments.

• EBITDA excluding associates increased 16% year-over-year excluding M&A, totaling AUD 220 million.

• Residential revenue grew 12% in Q3, driven by 14% buy yield growth and modest listings growth.

• Achieved record audience engagement with 12.9 million average monthly visitors and 2.6 million buyer enquiries.

• Launched new AI-powered features, including conversational search and iGUIDE, driving innovation and customer engagement.

Financial highlights

• Q3 FY26 revenue (excluding M&A) was AUD 398 million, up 11% year-over-year; EBITDA (excluding associates) was AUD 220 million, up 16%.

• Operating expenses increased 5% to AUD 178 million; group EBITDA up 16%.

• Including M&A, revenue and EBITDA increased 6% and 11% respectively.

• Free cash flow for Q3 was AUD 135 million, up 2% year-over-year, with growth lagging EBITDA due to working capital timing.

• Nine months revenue reached AUD 1,314 million, up 8% year-over-year excluding M&A.

Outlook and guidance

• Buy yield expected to grow 13% for FY26; listings forecasted to decline 1%-3%.

• April listing volumes up 19% year-over-year, with Melbourne up 20% and Sydney up 25%.

• Operating cost growth guidance improved to low to mid-single digits for the group; Australian costs mid to high single-digits.

• For FY27, price increase of approximately 8% planned; Luxe bundle expected to be a key yield driver.

• Positive operating jaws expected for both Australia and the Group.