The Real Brokerage (REAX) Cash Flow: Operating & Free Cash Flow

The Real Brokerage Cash Flow Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Cash flow statement showing operating, investing, and financing activities for The Real Brokerage Inc. (REAX) - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018
Operating Activities
Net Income	-8.11	-26.54	-27.22	-20.34	-11.68	-3.62	-2.25	-2.52
Depreciation & Amortization	1.93	1.40	1.13	0.33	0.21	0.09	0.14	0.15
Deferred Income Tax	-0.92	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Stock Based Compensation	68.15	52.92	38.40	16.20	4.03	1.14	0.49	-0.03
Change in Working Capital	5.02	19.90	5.85	9.63	8.78	0.19	0.33	-0.25
Change in Accounts Receivable	-14.48	-7.85	-4.88	-1.29	0.06	-0.06	0.22	-0.26
Change in Accounts Payable	-0.21	3.55	0.10	0.42	5.79	0.48	-0.02	0.00
Change in Other Working Capital	19.71	0.38	-2.59	10.50	2.93	-0.23	0.11	0.00
Other Operating Activities	-0.14	0.38	0.81	0.17	0.34	0.60	-0.03	0.11
Net Cash from Operating Activities	65.93	48.73	18.98	6.00	1.68	-1.60	-1.32	-0.04
Investing Activities
Capital Expenditures	-1.10	-1.05	-0.63	-1.41	-0.17	-0.02	0.00	0.00
Acquisitions	0.00	0.00	6.00	-8.28	-1.10	0.00	0.00	0.00
Purchases of Investments	-18.30	-1.69	-6.85	-0.13	-8.94	0.00	0.00	0.00
Sales/Maturities of Investments	8.56	6.55	0.85	0.13	1.10	0.00	0.00	0.00
Other Investing Activities	0.00	0.00	-6.00	0.64	-1.10	0.00	0.00	0.00
Net Cash from Investing Activities	-13.59	3.81	-6.63	-9.05	-1.27	-0.02	0.00	0.00
Financing Activities
Debt Repayment	0.00	0.00	-0.10	-0.04	0.00	0.12	-0.12	-0.12
Common Stock Issued	2.17	0.00	0.50	0.00	26.68	2.09	0.00	0.41
Common Stock Repurchased	-39.36	-36.28	-2.87	-8.06	-12.64	0.00	0.00	0.00
Other Financing Activities	-3.05	-3.13	-0.34	0.25	-8.94	20.72	1.00	1.33
Net Cash from Financing Activities	-40.25	-33.14	-3.06	-7.85	7.27	22.93	0.88	0.41
Summary
Effect of Forex Changes on Cash	0.00	0.41	0.04	0.10	0.18	-0.14	0.02	0.04
Net Change in Cash	12.09	19.40	9.33	-10.80	7.86	21.17	-0.43	0.42
Cash at Beginning of Period	47.47	27.66	18.33	29.13	21.23	0.05	0.49	-0.06
Cash at End of Period	59.55	47.47	27.66	18.33	29.08	21.23	0.05	0.36
Free Cash Flow	64.83	47.69	18.35	4.59	1.51	-1.62	-1.32	-0.04

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About The Real Brokerage Cash Flow

What is The Real Brokerage's free cash flow?

The Real Brokerage generated free cash flow of $64.83M in fiscal 2025 (fiscal year ended Dec 31, 2025), operating cash flow of $65.93M minus $1.10M of capital expenditures. That was up 35.9% from $47.69M a year earlier. Free cash flow equaled 3.3% of revenue.

How much does The Real Brokerage spend on capital expenditures?

The Real Brokerage spent $1.10M on capital expenditures in fiscal 2025, compared with $1.04M a year earlier. That equals 1.7% of operating cash flow.

Does The Real Brokerage pay dividends or buy back shares?

Yes. In fiscal 2025 The Real Brokerage returned $39.36M in share buybacks to shareholders, according to its cash flow statement.

What is free cash flow?

Free cash flow is operating cash flow minus capital expenditures. It is the cash a company has left for dividends, buybacks, debt repayment or acquisitions after funding its operations and investment. Full definition