1Revenue of $420.5 million reflects growth driven by higher transaction volume in mortgage loans and title services, attributable to both organic growth and acquisitions.
2An operating loss of $15.6 million (operating margin of -3.7%) and a net loss of $20.3 million ($-0.72 diluted EPS) indicate persistent profitability challenges despite revenue expansion.
3Negative free cash flow of $20.7 million, driven by operating activities using $20.5 million, consumed capital and highlights ongoing cash flow constraints.
4The increase in commission and service costs was primarily due to higher agent commissions paid, which management links directly to the increase in transaction volume.
5Management maintains an efficient, cloud-based operating model with lower fixed costs, which helps mitigate some expense pressures from growth investments.
6The outlook anticipates that if inflation lessens in 2026, declining mortgage rates could boost homebuyer demand, potentially improving future operating conditions.