Real Matters Inc
TSX:REAL
Real Matters Inc
Real Matters, Inc. engages in the provision of management services to mortgage lending and insurance industries. The company is headquartered in Thornhill, Ontario. The company went IPO on 2017-05-11. The firm is focused on providing appraisal services through its Solidifi brand to the mortgage lending industry in the United States and Canada, title services through its Solidifi brand to the mortgage lending industry in the United States and insurance inspection services through its iv3 brand to the insurance industry in Canada. Its technology-based platform creates a competitive marketplace where independent field professionals, including appraisers, real estate agents, property inspectors, notaries, abstractors and other closing agents, compete for volumes provided by its clients based on their performance and professionalism (the platform). Its clients include mortgage lenders in the United States, five Canadian banks and some of North America’s insurance carriers.
Real Matters, Inc. engages in the provision of management services to mortgage lending and insurance industries. The company is headquartered in Thornhill, Ontario. The company went IPO on 2017-05-11. The firm is focused on providing appraisal services through its Solidifi brand to the mortgage lending industry in the United States and Canada, title services through its Solidifi brand to the mortgage lending industry in the United States and insurance inspection services through its iv3 brand to the insurance industry in Canada. Its technology-based platform creates a competitive marketplace where independent field professionals, including appraisers, real estate agents, property inspectors, notaries, abstractors and other closing agents, compete for volumes provided by its clients based on their performance and professionalism (the platform). Its clients include mortgage lenders in the United States, five Canadian banks and some of North America’s insurance carriers.
Revenue Growth: Real Matters delivered 14% year-over-year revenue growth in Q1 2026, with double-digit gains across all segments.
Profitability: The company achieved positive consolidated adjusted EBITDA of $0.1 million, marking its first Q1 profit since 2022 despite market volumes being about 70% lower.
Market Share & Clients: Eight new clients were onboarded, including two top 100 lenders, and a new channel was added with a Tier 1 lender in U.S. Title, driving significant market share gains.
Segment Performance: U.S. Appraisal saw 12% revenue growth and 36% growth in adjusted EBITDA, while U.S. Title net revenue increased 110% due to new client wins and higher refinance activity.
Mortgage Market Dynamics: Management is cautiously optimistic about a potential mortgage market recovery, citing a growing pool of refinance candidates as a future tailwind.
Operating Leverage: Strong operating leverage led to improved margins, especially in scalable segments such as U.S. Title.
Guidance & Outlook: The company expects a seasonal slowdown in Q2 but remains ambitious about volume growth, pipeline momentum, and achieving its target operating model.
Balance Sheet: Ended the quarter with $43.8 million in cash and no debt.
