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10-Q Filing

RE/MAX Holdings, Inc. CIK: 1581091 Q1 2022
Filing Information
Form Type 10-Q
Accession Number 0001558370-22-006321
Period End Date 20220331
Filing Date 20220428
Fiscal Year 2022
Fiscal Period Q1
XBRL Instance rmax-20220331x10q_htm.xml
Balance Sheet 78 line items
Line Item Tag Value Unit Period
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $118.50M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $126.27M USD Point-in-time
Restricted cash RestrictedCashCurrent $32.13M USD Point-in-time
Restricted cash RestrictedCashCurrent $36.89M USD Point-in-time
Accounts and notes receivable, current portion, net of allowances AccountsNotesAndLoansReceivableNetCurrent $34.61M USD Point-in-time
Accounts and notes receivable, current portion, net of allowances AccountsNotesAndLoansReceivableNetCurrent $34.61M USD Point-in-time
Income taxes receivable IncomeTaxesReceivable $1.75M USD Point-in-time
Income taxes receivable IncomeTaxesReceivable $1.75M USD Point-in-time
Other current assets OtherAssetsCurrent $18.87M USD Point-in-time
Other current assets OtherAssetsCurrent $16.01M USD Point-in-time
Total current assets AssetsCurrent $210.62M USD Point-in-time
Total current assets AssetsCurrent $210.77M USD Point-in-time
Property and equipment, net of accumulated depreciation PropertyPlantAndEquipmentNet $10.48M USD Point-in-time
Property and equipment, net of accumulated depreciation PropertyPlantAndEquipmentNet $12.69M USD Point-in-time
Operating lease right of use assets OperatingLeaseRightOfUseAsset $34.04M USD Point-in-time
Operating lease right of use assets OperatingLeaseRightOfUseAsset $36.52M USD Point-in-time
Franchise agreements, net FiniteLivedIntangibleAssetsNet $143.83M USD Point-in-time
Franchise agreements, net FiniteLivedIntangibleAssetsNet $138.91M USD Point-in-time
Other intangible assets, net OtherIntangibleAssetsNet $34.41M USD Point-in-time
Other intangible assets, net OtherIntangibleAssetsNet $32.53M USD Point-in-time
Goodwill Goodwill $269.84M USD Point-in-time
Goodwill Goodwill $269.12M USD Point-in-time
Deferred tax assets, net DeferredIncomeTaxAssetsNet $51.31M USD Point-in-time
Deferred tax assets, net DeferredIncomeTaxAssetsNet $52.02M USD Point-in-time
Income taxes receivable, net of current portion IncomeTaxesReceivableNoncurrent $754.00K USD Point-in-time
Income taxes receivable, net of current portion IncomeTaxesReceivableNoncurrent $1.80M USD Point-in-time
Other assets, net of current portion OtherAssetsNoncurrent $12.61M USD Point-in-time
Other assets, net of current portion OtherAssetsNoncurrent $17.56M USD Point-in-time
Total assets Assets $763.68M USD Point-in-time
Total assets Assets $776.13M USD Point-in-time
Accounts payable AccountsPayableCurrent $6.63M USD Point-in-time
Accounts payable AccountsPayableCurrent $5.19M USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrent $96.77M USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrent $86.17M USD Point-in-time
Income taxes payable TaxesPayableCurrent $2.55M USD Point-in-time
Income taxes payable TaxesPayableCurrent $2.05M USD Point-in-time
Deferred revenue ContractWithCustomerLiabilityCurrent $27.18M USD Point-in-time
Deferred revenue ContractWithCustomerLiabilityCurrent $24.27M USD Point-in-time
Current portion of debt LongTermDebtCurrent $4.60M USD Point-in-time
Current portion of debt LongTermDebtCurrent $4.60M USD Point-in-time
Current portion of payable pursuant to tax receivable agreements AmountsPayableUnderTaxReceivableAgreementsCurrent $3.67M USD Point-in-time
Current portion of payable pursuant to tax receivable agreements AmountsPayableUnderTaxReceivableAgreementsCurrent $3.61M USD Point-in-time
Operating lease liabilities OperatingLeaseLiabilityCurrent $6.57M USD Point-in-time
Operating lease liabilities OperatingLeaseLiabilityCurrent $6.33M USD Point-in-time
Total current liabilities LiabilitiesCurrent $146.22M USD Point-in-time
Total current liabilities LiabilitiesCurrent $133.96M USD Point-in-time
Debt, net of current portion LongTermDebtNoncurrent $446.52M USD Point-in-time
Debt, net of current portion LongTermDebtNoncurrent $447.46M USD Point-in-time
Payable pursuant to tax receivable agreements, net of current portion AmountsPayableUnderTaxReceivableAgreementsNoncurrent $26.86M USD Point-in-time
Payable pursuant to tax receivable agreements, net of current portion AmountsPayableUnderTaxReceivableAgreementsNoncurrent $26.89M USD Point-in-time
Deferred tax liabilities, net DeferredIncomeTaxLiabilitiesNet $14.53M USD Point-in-time
Deferred tax liabilities, net DeferredIncomeTaxLiabilitiesNet $14.70M USD Point-in-time
Deferred revenue, net of current portion ContractWithCustomerLiabilityNoncurrent $18.93M USD Point-in-time
Deferred revenue, net of current portion ContractWithCustomerLiabilityNoncurrent $19.30M USD Point-in-time
Operating lease liabilities, net of current portion OperatingLeaseLiabilityNoncurrent $45.95M USD Point-in-time
Operating lease liabilities, net of current portion OperatingLeaseLiabilityNoncurrent $44.82M USD Point-in-time
Other liabilities, net of current portion OtherLiabilitiesNoncurrent $6.92M USD Point-in-time
Other liabilities, net of current portion OtherLiabilitiesNoncurrent $7.91M USD Point-in-time
Total liabilities Liabilities $707.07M USD Point-in-time
Total liabilities Liabilities $693.89M USD Point-in-time
Commitments and contingencies CommitmentsAndContingencies - USD Point-in-time
Commitments and contingencies CommitmentsAndContingencies - USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $522.07M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $515.44M USD Point-in-time
Accumulated deficit RetainedEarningsAccumulatedDeficit $-7.82M USD Point-in-time
Accumulated deficit RetainedEarningsAccumulatedDeficit $-12.81M USD Point-in-time
Accumulated other comprehensive income, net of tax AccumulatedOtherComprehensiveIncomeLossNetOfTax $892.00K USD Point-in-time
Accumulated other comprehensive income, net of tax AccumulatedOtherComprehensiveIncomeLossNetOfTax $650.00K USD Point-in-time
Total stockholders' equity attributable to RE/MAX Holdings, Inc. StockholdersEquity $510.16M USD Point-in-time
Total stockholders' equity attributable to RE/MAX Holdings, Inc. StockholdersEquity $508.27M USD Point-in-time
Non-controlling interest MinorityInterest $-439.21M USD Point-in-time
Non-controlling interest MinorityInterest $-440.37M USD Point-in-time
Total stockholders' equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $69.07M USD Point-in-time
Total stockholders' equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $69.79M USD Point-in-time
Total stockholders' equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $101.66M USD Point-in-time
Total stockholders' equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $103.20M USD Point-in-time
Total liabilities and stockholders' equity LiabilitiesAndStockholdersEquity $763.68M USD Point-in-time
Total liabilities and stockholders' equity LiabilitiesAndStockholdersEquity $776.13M USD Point-in-time
Income Statement 31 line items
Line Item Tag Value Unit Period
Total revenue RevenueFromContractWithCustomerExcludingAssessedTax $72.30M USD 1 Quarter
Total revenue RevenueFromContractWithCustomerExcludingAssessedTax $91.00M USD 1 Quarter
Selling, operating and administrative expenses SellingGeneralAndAdministrativeExpense $43.68M USD 1 Quarter
Selling, operating and administrative expenses SellingGeneralAndAdministrativeExpense $47.83M USD 1 Quarter
Marketing Funds expenses MarketingAndAdvertisingExpense $22.85M USD 1 Quarter
Marketing Funds expenses MarketingAndAdvertisingExpense $18.14M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $8.98M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $6.81M USD 1 Quarter
Settlement and impairment charges AssetImpairmentCharges $3.73M USD 1 Quarter
Total operating expenses OperatingExpenses $83.40M USD 1 Quarter
Total operating expenses OperatingExpenses $68.63M USD 1 Quarter
Operating income (loss) OperatingIncomeLoss $7.60M USD 1 Quarter
Operating income (loss) OperatingIncomeLoss $3.67M USD 1 Quarter
Interest expense InterestExpense $2.10M USD 1 Quarter
Interest expense InterestExpense $3.65M USD 1 Quarter
Interest income InterestIncomeDomesticDeposits $163.00K USD 1 Quarter
Interest income InterestIncomeDomesticDeposits $19.00K USD 1 Quarter
Foreign currency transaction gains (losses) ForeignCurrencyTransactionGainLossRealized $180.00K USD 1 Quarter
Foreign currency transaction gains (losses) ForeignCurrencyTransactionGainLossRealized $-20.00K USD 1 Quarter
Total other expenses, net OtherNonoperatingIncomeExpense $-3.45M USD 1 Quarter
Total other expenses, net OtherNonoperatingIncomeExpense $-1.96M USD 1 Quarter
Income (loss) before provision for income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $4.15M USD 1 Quarter
Income (loss) before provision for income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $1.71M USD 1 Quarter
Provision for income taxes IncomeTaxExpenseBenefit $-52.00K USD 1 Quarter
Provision for income taxes IncomeTaxExpenseBenefit $1.21M USD 1 Quarter
Net income (loss) ProfitLoss $1.76M USD 1 Quarter
Net income (loss) ProfitLoss $2.94M USD 1 Quarter
Less: net income (loss) attributable to non-controlling interest NetIncomeLossAttributableToNoncontrollingInterest $1.49M USD 1 Quarter
Less: net income (loss) attributable to non-controlling interest NetIncomeLossAttributableToNoncontrollingInterest $600.00K USD 1 Quarter
Net income (loss) attributable to RE/MAX Holdings, Inc. NetIncomeLoss $1.16M USD 1 Quarter
Net income (loss) attributable to RE/MAX Holdings, Inc. NetIncomeLoss $1.45M USD 1 Quarter
Cash Flow Statement 52 line items
Line Item Tag Value Unit Period
Net income (loss) ProfitLoss $1.76M USD 1 Quarter
Net income (loss) ProfitLoss $2.94M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $8.98M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $6.81M USD 1 Quarter
Impairment charge - leased assets OperatingLeaseImpairmentLoss $3.73M USD 1 Quarter
Bad debt expense ProvisionForDoubtfulAccounts $170.00K USD 1 Quarter
Bad debt expense ProvisionForDoubtfulAccounts $287.00K USD 1 Quarter
Equity-based compensation expense ShareBasedCompensation $5.64M USD 1 Quarter
Equity-based compensation expense ShareBasedCompensation $12.05M USD 1 Quarter
Deferred income tax expense (benefit) DeferredIncomeTaxExpenseBenefit $20.00K USD 1 Quarter
Deferred income tax expense (benefit) DeferredIncomeTaxExpenseBenefit $-320.00K USD 1 Quarter
Fair value adjustments to contingent consideration BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1 $-280.00K USD 1 Quarter
Fair value adjustments to contingent consideration BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1 $285.00K USD 1 Quarter
Non-cash lease expense (benefit) NonCashLeaseExpense $-284.00K USD 1 Quarter
Non-cash lease expense (benefit) NonCashLeaseExpense $-368.00K USD 1 Quarter
Other, net OtherNoncashIncomeExpense $-87.00K USD 1 Quarter
Other, net OtherNoncashIncomeExpense $-267.00K USD 1 Quarter
Changes in operating assets and liabilities IncreaseDecreaseInOperatingCapital $5.17M USD 1 Quarter
Changes in operating assets and liabilities IncreaseDecreaseInOperatingCapital $-717.00K USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $20.83M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $16.50M USD 1 Quarter
Purchases of property, equipment and capitalization of software PaymentsToAcquireProductiveAssets $3.72M USD 1 Quarter
Purchases of property, equipment and capitalization of software PaymentsToAcquireProductiveAssets $4.38M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-3.72M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-4.38M USD 1 Quarter
Payments on debt RepaymentsOfDebt $1.15M USD 1 Quarter
Payments on debt RepaymentsOfDebt $660.00K USD 1 Quarter
Distributions paid to non-controlling unitholders PaymentsToMinorityShareholders $2.89M USD 1 Quarter
Distributions paid to non-controlling unitholders PaymentsToMinorityShareholders $2.89M USD 1 Quarter
Dividends and dividend equivalents paid to Class A common stockholders PaymentsOfDividendsCommonStock $5.12M USD 1 Quarter
Dividends and dividend equivalents paid to Class A common stockholders PaymentsOfDividendsCommonStock $4.80M USD 1 Quarter
Payments related to tax withholding for share-based compensation PaymentsRelatedToTaxWithholdingForShareBasedCompensation $5.29M USD 1 Quarter
Payments related to tax withholding for share-based compensation PaymentsRelatedToTaxWithholdingForShareBasedCompensation $5.59M USD 1 Quarter
Common shares repurchased PaymentsForRepurchaseOfCommonStock $1.31M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-16.07M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-13.64M USD 1 Quarter
Effect of exchange rate changes on cash EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $274.00K USD 1 Quarter
Effect of exchange rate changes on cash EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $92.00K USD 1 Quarter
Net (decrease) increase in cash, cash equivalents and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $2.90M USD 1 Quarter
Net (decrease) increase in cash, cash equivalents and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-3.02M USD 1 Quarter
Cash, cash equivalents and restricted cash, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $121.23M USD Point-in-time
Cash, cash equivalents and restricted cash, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $155.38M USD Point-in-time
Cash, cash equivalents and restricted cash, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $124.13M USD Point-in-time
Cash, cash equivalents and restricted cash, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $158.40M USD Point-in-time
Cash, cash equivalents and restricted cash, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $121.23M USD Point-in-time
Cash, cash equivalents and restricted cash, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $155.38M USD Point-in-time
Cash, cash equivalents and restricted cash, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $124.13M USD Point-in-time
Cash, cash equivalents and restricted cash, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $158.40M USD Point-in-time
Cash paid for interest InterestPaidNet $3.43M USD 1 Quarter
Cash paid for interest InterestPaidNet $1.97M USD 1 Quarter
Net cash paid for income taxes IncomeTaxesPaidNet $926.00K USD 1 Quarter
Net cash paid for income taxes IncomeTaxesPaidNet $1.54M USD 1 Quarter
Stockholders Equity 22 line items
Line Item Tag Value Unit Period
Beginning balance, Value StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $69.07M USD Point-in-time
Beginning balance, Value StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $69.79M USD Point-in-time
Beginning balance, Value StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $101.66M USD Point-in-time
Beginning balance, Value StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $103.20M USD Point-in-time
Net Income (loss) ProfitLoss $1.76M USD 1 Quarter
Net Income (loss) ProfitLoss $2.94M USD 1 Quarter
Distributions to non-controlling unitholders MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders $2.89M USD 1 Quarter
Distributions to non-controlling unitholders MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders $2.89M USD 1 Quarter
Equity-based compensation expense and dividend equivalents, Value AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $11.53M USD 1 Quarter
Equity-based compensation expense and dividend equivalents, Value AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $12.21M USD 1 Quarter
Dividends to Class A common stockholders DividendsCommonStockCash $4.44M USD 1 Quarter
Dividends to Class A common stockholders DividendsCommonStockCash $4.33M USD 1 Quarter
Repurchase and retirement of common shares, Value StockRepurchasedAndRetiredDuringPeriodValue $1.31M USD 1 Quarter
Repurchase and retirement of common shares, Shares StockRepurchasedAndRetiredDuringPeriodShares 45,885.00 shares 1 Quarter
Change in accumulated other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTax $79.00K USD 1 Quarter
Change in accumulated other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTax $482.00K USD 1 Quarter
Payroll taxes related to net settled restricted stock units, Value AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation $5.29M USD 1 Quarter
Payroll taxes related to net settled restricted stock units, Value AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation $5.59M USD 1 Quarter
Ending balance, Value StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $69.07M USD Point-in-time
Ending balance, Value StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $69.79M USD Point-in-time
Ending balance, Value StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $101.66M USD Point-in-time
Ending balance, Value StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $103.20M USD Point-in-time
Comprehensive Income 12 line items
Line Item Tag Value Unit Period
Net income (loss) ProfitLoss $1.76M USD 1 Quarter
Net income (loss) ProfitLoss $2.94M USD 1 Quarter
Change in cumulative translation adjustment OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $79.00K USD 1 Quarter
Change in cumulative translation adjustment OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $482.00K USD 1 Quarter
Other comprehensive income (loss), net of tax OtherComprehensiveIncomeLossNetOfTax $79.00K USD 1 Quarter
Other comprehensive income (loss), net of tax OtherComprehensiveIncomeLossNetOfTax $482.00K USD 1 Quarter
Comprehensive income (loss) ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $1.84M USD 1 Quarter
Comprehensive income (loss) ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $3.43M USD 1 Quarter
Less: comprehensive income (loss) attributable to non-controlling interest ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $1.73M USD 1 Quarter
Less: comprehensive income (loss) attributable to non-controlling interest ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $638.00K USD 1 Quarter
Comprehensive income (loss) attributable to RE/MAX Holdings, Inc., net of tax ComprehensiveIncomeNetOfTax $1.69M USD 1 Quarter
Comprehensive income (loss) attributable to RE/MAX Holdings, Inc., net of tax ComprehensiveIncomeNetOfTax $1.20M USD 1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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