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Bridgemarq Real Estate Services reported earlier this week that its quarterly loss had reduced even as revenue softened compared with the same period last year. The firm recorded lower quarterly revenue but saw a notable improvement in its net loss position, supported partly by an unchanged valuation of its Exchangeable Units. Adjusted net earnings declined, while operating cash flow remained positive. Growth in franchise fees and the continued expansion of its agent network, driven by enhanced tools and technologies, contributed to its performance. The company did not issue guidance for the coming quarters.
Bridgemarq Real Estate Services recently announced that its quarterly revenue had eased to CAD122.9 million, compared with CAD126.8 million in the corresponding period last year. Despite the softer top line, the company reported that its quarterly net loss had narrowed to CAD1.7 million, a substantial improvement from the CAD10.8 million loss recorded last year. Management attributed this reduction partly to the unchanged valuation of Exchangeable Units, which helped limit the overall impact on its bottom line. Advertisement
Adjusted net earnings declined to CAD1.0 million from CAD2.7 million a year earlier, reflecting a moderated operating environment. Operating cash flow for the quarter stood at CAD1.28 million. The company also experienced an increase in franchise fees, supported both by fee adjustments and an expanding pool of realtors.
Bridgemarq highlighted continued growth in its agent network, which it linked to the competitiveness of its tools, platforms, and technologies. However, the company chose not to issue forward-looking guidance for the coming quarters or the full year. Analyst coverage remained limited, with one available recommendation maintaining a 'hold' stance. Market information indicated that Wall Street's median 12-month price target for the company was set above its recent closing price.
Bridgemarq's latest quarterly update suggests a stabilising financial position, marked by a significantly reduced loss despite easing revenue and lower adjusted earnings. The company's ability to enhance franchise fee income and maintain positive operating cash flow underscores the resilience of its operating model. Continued expansion of its agent network further supports its long-term service strategy, although the absence of future guidance leaves some uncertainty for investors. With analyst sentiment remaining steady and the share price trading below median expectations, the company enters the coming period with measured momentum.
Source - Reuters
5th Jun, 2025
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