Bridgemarq Real Estate Services(TM) Reports Third Quarter Results and Declares Monthly Dividend

Executive Summary

• Bridgemarq reported Q3 2025 revenue of $122.9 M (down 3% YoY) and generated Adjusted Net Earnings of $1.0 M, with Free Cash Flow of $1.5 M.
• The Board declared a cash dividend of $0.1125 per Restricted Voting Share payable Dec 31 2025 (target annual dividend $1.35).
• Net loss narrowed to $(1.7) M ($0.18 per diluted share) versus $(10.8) M YoY, reflecting stable Exchangeable Units valuation and higher operating expenses.

Key Details

• Revenue: $122.9 M (Q3 2025) vs. $126.8 M (Q3 2024). FY YTD revenue $308.9 M vs. $249.2 M prior year, driven by acquisitions effective Apr 1 2024.
• Adjusted Net Earnings: $1.0 M (Q3 2025) vs. $2.7 M (Q3 2024). Adjusted EPS $0.06 vs. $0.17 prior year.
• Free Cash Flow: $1.5 M generated in Q3 2025, down from $5.3 M YoY due to higher capex. FY YTD Free Cash Flow $9.2 M vs. $14.98 M prior year.
• Net Loss: $(1.7) M or $(0.18) per diluted share; improvement from $(10.8) M YoY.
• Operating Cash Flow: $1.3 M provided in Q3 2025 vs. $2.7 M prior year.
• Dividend: $0.1125 per Restricted Voting Share, payable Dec 31 2025; record date Nov 28 2025; aligns with target annual dividend of $1.35.
• Franchise Network: 20,948 REALTORS® under 284 franchise agreements; 32 corporately owned brokerages (GTA, Vancouver, Quebec) with 2,505 sales reps.
• Conference Call: Scheduled for Nov 14 2025 at 10:00 AM ET; call details provided.
• Balance Sheet Highlights (Unaudited): Total assets $156.9 M; cash & equivalents $9.55 M; debt facilities $78.0 M; shareholders’ deficit $(90.99) M.

Notable Quotes

“Our agent networks continue to grow, and we continue to enhance the value and experience we deliver… especially in an environment of unpredictable market conditions,” – Spencer Enright, CEO.