RMA Global’s US Brokerage Pivot Faces Market and Regulatory Headwinds

• 13% revenue growth to $21.1 million in FY25
• First full-year positive operating cash flow of $0.3 million
• Strategic acquisition and integration of Curated Social
• Shift to brokerage-led sales model in the US with Realty ONE Group partnership
• Underlying EBITDA loss narrowed by 75% to $0.7 million

Strong Revenue Growth Amid Challenging Markets

RMA Global Ltd has reported a solid 13% increase in revenue for the fiscal year ended June 30, 2025, reaching $21.1 million. This growth was underpinned by robust expansion in the United States and New Zealand markets, while the company maintained steady progress in its established Australian base. Despite ongoing headwinds in the real estate sector, including subdued transaction volumes and elevated interest rates, RMA’s diversified geographic footprint and product innovation have helped sustain momentum.

Milestone Positive Operating Cash Flow

For the first time in its history, RMA delivered a full-year positive operating cash flow of $0.3 million, a remarkable turnaround from a $3.1 million cash outflow in the previous year. This milestone reflects disciplined cost management, with employee-related expenses declining by 3%, and operational efficiencies achieved under a refreshed leadership team. The company’s underlying EBITDA loss narrowed significantly by 75% to $0.7 million, signaling improving profitability trends.

Strategic Acquisition and Product Innovation

A key driver of RMA’s growth was the acquisition and integration of Curated Social, a US-based provider of AI-powered social media content for real estate professionals. This expanded RMA’s product suite beyond its core review platform to include automated, branded social content and data insights, enhancing value for agents seeking to build their personal brands. The launch of Social Studio, combining RateMyAgent and Curated Social capabilities, has been well received in the US and is slated for rollout in Australia and New Zealand in FY26.

Pivot to Brokerage-Led Sales Model in the US

RMA’s deliberate shift from a direct-to-agent approach to a brokerage-led model in the US is gaining traction. The company secured significant partnerships with major brokerages, most notably Realty ONE Group, which added 20,000 agents to its platform. This strategy targets the top 30% of US agents responsible for the majority of transactions, offering scalable monetization and deeper integration. While the US housing market remains challenging due to high interest rates and regulatory uncertainties, RMA’s enhanced platform and enterprise partnerships position it well for sustainable growth.

Outlook and Capital Position

RMA ended FY25 with a healthy cash balance of $4 million and remains well-capitalized to execute its growth strategy. The company raised $3.3 million in equity during the year to fund the Curated Social acquisition and working capital needs. With a clear strategic focus on delivering value to real estate professionals through innovative technology and strong brokerage relationships, RMA enters FY26 with confidence. The upcoming launch of Social Studio in Australia and New Zealand is expected to further enhance agent engagement and revenue opportunities.

Bottom Line?

RMA Global’s FY25 results mark a turning point, but the company’s ability to scale US brokerage partnerships and convert ARR growth into profits will be critical next steps.

Questions in the middle?

• Will RMA meet the earnout targets for Curated Social’s Subscription ARR within the next 18 months?
• How will ongoing US real estate market challenges and regulatory changes impact RMA’s growth trajectory?
• What is the potential for increased agent conversion from freemium to paid subscriptions under the new brokerage-led model?