RE/MAX : REPORTS FIRST QUARTER 2022 RESULTS

Exhibit 99.1

RE/MAX HOLDINGS, INC. REPORTS FIRST QUARTER 2022 RESULTS

Total Revenue Grew 25.9%, Organic Revenue Grew 10.5%, and Adjusted EBITDA Grew 20.5%

DENVER, April 28, 2022

First Quarter 2022 Highlights

(Compared to first quarter 2021 unless otherwise noted)

• ▪ Total Revenue increased 25.9% to $91.0 million

• ▪ Revenue excluding the Marketing Funds1 increased 25.9% to $68.2 million, and was comprised of 10.5% organic growth2, 15.1% growth attributable to acquisitions and 0.3% growth from foreign currency movements

• ▪ Net income attributable to RE/MAX Holdings, Inc. of $1.5 million and income per diluted share (GAAP EPS) of $0.08

• ▪ Adjusted EBITDA3 increased 20.5% to $27.9 million, Adjusted EBITDA margin3 of 30.7% and Adjusted earnings per diluted share (Adjusted EPS3) of $0.51

• ▪ Total agent count increased 1.6% to 142,405 agents

• ▪ U.S. and Canada combined agent count increased 0.5% to 85,160 agents

• ▪ Total open Motto Mortgage franchises increased 27.3% to 191 offices4

RE/MAX Holdings, Inc. (the "Company" or "RE/MAX Holdings") (NYSE: RMAX), parent company of RE/MAX, one of the world's leading franchisors of real estate brokerage services, and Motto Mortgage ("Motto"), the first national mortgage brokerage franchise brand in the U.S., today announced operating results for the quarter ended March 31, 2022.

"Double-digit organic revenue growth in our core operations and continued strong performance from our acquisition of the RE/MAX INTEGRA North American regions contributed to our first quarter better-than-expected results," said Steve Joyce, RE/MAX Holdings Chief Executive Officer. "Multiple factors drove our organic growth, most notably higher attendance at our recent annual agent convention, rising home prices and our expanding mortgage business."

Joyce continued:"Motto Mortgage franchise sales reaccelerated during the first quarter and we added almost 2,000 RE/MAX agents in Canada year over year. We continue to evaluate the best opportunities, both organic and inorganic, to drive our near- and longer-term growth. We have two terrific, industry-leading franchise brands, each with compelling growth trajectories and within those brands, our focus is primarily on strategic moves which will help us increase our U.S. agent count and accelerate the expansion of our mortgage business."

First Quarter 2022 Operating Results

Agent Count

The following table compares agent count as of March 31, 2022 and 2021:

As of March 31,Change

U.S.

60,717

62,261

(1,544)

(2.5)

Subtotal

85,160

84,771

389

0.5

2022	2021	#	%
Canada	24,443	22,510	1,933	8.6
Outside the U.S. & Canada	57,245	55,443	1,802	3.3
Total	2,191	1.6

142,405140,214

Revenue

RE/MAX Holdings generated revenue of $91.0 million in the first quarter of 2022, an increase of $18.7 million, or 25.9%, compared to $72.3 million in the first quarter of 2021. Revenue excluding the Marketing Funds was $68.2 million in the first quarter of 2022, an increase of $14.0 million, or 25.9%, versus the same period in 2021. This increase was comprised of organic revenue growth of 10.5%, revenue growth of 15.1% from acquisitions and revenue growth from foreign-currency movements of 0.3%. Organic growth increased primarily due to increased event-based revenue due to higher attendance at our annual RE/MAX agent convention, increased broker fees due to rising home prices, incremental revenue from fewer agent recruiting initiatives, a price increase in RE/MAX continuing franchise fees, and Motto growth. Revenue growth from acquisitions was attributable to revenue from the RE/MAX INTEGRA North American regions acquisition completed in July 2021.

Recurring revenue streams, which consist of continuing franchise fees and annual dues, increased $8.4 million, or 24.6%, compared to the first quarter of 2021 and accounted for 62.2% of revenue (excluding the Marketing Funds) in the first quarter of 2022 compared to 62.9% of revenue in the prior-year period.

Operating Expenses

Total operating expenses were $83.4 million for the first quarter of 2022, an increase of $14.8 million, or 21.5%, compared to $68.6 million in the first quarter of 2021. First quarter 2022 total operating expenses increased primarily due to higher selling, operating and administrative expenses; increased Marketing Funds expenses; higher depreciation and amortization expenses; and a $3.7 million impairment charge stemming from subleasing a portion of our corporate headquarters.

Selling, operating and administrative expenses were $47.8 million in the first quarter of 2022, an increase of $4.2 million, or 9.5%, compared to the first quarter of 2021 and represented 70.2% of revenue, excluding the Marketing Funds, compared to 80.7% in the prior-year period. First quarter 2022 selling, operating and administrative expenses increased primarily due to higher travel and events expenses largely from our annual RE/MAX agent convention, higher personnel costs from headcount increases, an increase in acquisition-related expenses, and the reinstatement of the full 401(k) match, partially offset by lower equity-based compensation expense. In the first quarter of 2021, we incurred $5.5 million of equity-based compensation expense due to the one-time acceleration of certain equity awards.

First quarter 2022 depreciation and amortization expenses increased primarily due to incremental amortization expense related to the acquisition of RE/MAX INTEGRA.

Net Income and GAAP EPS

Net income attributable to RE/MAX Holdings was $1.5 million for the first quarter of 2022 compared to $1.2 million the first quarter of 2021. Reported basic and diluted GAAP income per share were each $0.08 for the first quarter of 2022 compared to basic and diluted GAAP EPS of $0.06 each in the first quarter of 2021.

Adjusted EBITDA and Adjusted EPS

Adjusted EBITDA was $27.9 million for the first quarter of 2022, an increase of $4.8 million, or 20.5%, compared to the first quarter of 2021. First quarter 2022 Adjusted EBITDA increased primarily due to contributions from the acquisition of RE/MAX INTEGRA's North American regions. Adjusted EBITDA also increased due to higher broker fees caused by rising home prices, incremental revenue from fewer agent recruiting initiatives, and a price increase in RE/MAX continuing franchise fees. These increases were partially offset by higher personnel costs due to headcount increases and the reinstatement of the full 401(k) match. Adjusted EBITDA margin was 30.7% in the first quarter of 2022, compared to 32.0% in the first quarter of 2021.

Adjusted basic and diluted EPS were each $0.51 for the first quarter of 2022 compared to Adjusted basic and diluted EPS of $0.47 and $0.46, respectively, for the first quarter of 2021. The ownership structure used to calculate Adjusted basic and diluted EPS for the quarter ended March 31, 2022 assumes RE/MAX Holdings owned 100% of RMCO, LLC ("RMCO"). The weighted average ownership RE/MAX Holdings had in RMCO was 60.1% for the quarter ended March 31, 2022.

Balance Sheet

As of March 31, 2022, the Company had cash and cash equivalents of $118.5 million, a decrease of $7.8 million from December 31, 2021. As of March 31, 2022, the Company had $451.1 million of outstanding debt, net of an unamortized debt discount and issuance costs, compared to $452.1 million as of December 31, 2021.

Dividend

On April 27, 2022, the Company announced that its Board of Directors approved a quarterly cash dividend of $0.23 per share of Class A common stock. The quarterly dividend is payable on May 25, 2022, to shareholders of record at the close of business on May 11, 2022.

Outlook

The Company's second quarter and full-year 2022 Outlook assumes no further currency movements, acquisitions or divestitures.

For the second quarter of 2022, RE/MAX Holdings expects:

• ▪ Agent count to increase 2.0% to 3.0% over second quarter 2021;

• ▪ Revenue in a range of $91.0 million to $94.0 million (including revenue from the Marketing Funds in a range of $22.0 million to $24.0 million); and

• ▪ Adjusted EBITDA in a range of $32.5 million to $35.0 million.

For the full-year 2022, the Company expects:

• ▪ Agent count to increase 2.0% to 4.0% over full-year 2021;

• ▪ Revenue in a range of $366.0 million to $376.0 million (including revenue from the Marketing Funds in a range of $91.5 million to $95.5 million); and

• ▪ Adjusted EBITDA in a range of $130.0 million to $135.0 million.

Webcast and Conference Call

The Company will host a conference call for interested parties on Friday, April 29, 2022, beginning at 8:30 a.m. Eastern Time. Interested parties can register in advance for the conference call using the link below:https://conferencingportals.com/event/tTSuEepd

Interested parties also can access a live webcast through the Investor Relations section of the Company's website athttp://investors.remaxholdings.com. Please dial-in or join the webcast 10 minutes before the start of the conference call. An archive of the webcast will be available on the Company's website for a limited time as well.

Basis of Presentation

Unless otherwise noted, the results presented in this press release are consolidated and exclude adjustments attributable to the non-controlling interest.

Footnotes:

1Revenue excluding the Marketing Funds is a non-GAAP measure of financial performance that differs from U.S. Generally Accepted Accounting Principles ("U.S. GAAP") and a reconciliation to the most directly comparable U.S. GAAP measure is as follows (in thousands):

Three Months Ended

March 31,

2022

2021

Revenue excluding the Marketing Funds:

Less: Marketing Funds fees

22,851

18,145

Total revenue	$	91,004	$	72,295
Revenue excluding the Marketing Funds	$	68,153	$	54,150

2The Company defines organic revenue growth as revenue growth from continuing operations excluding (i) revenue from Marketing Funds, (ii) revenue from acquisitions, and (iii) the impact of foreign currency movements. The Company defines revenue from acquisitions as the revenue generated from the date of an acquisition to its first anniversary (excluding Marketing Funds revenue related to acquisitions where applicable).

3Adjusted EBITDA, Adjusted EBITDA margin and Adjusted EPS are non-GAAP measures. These terms are defined at the end of this release. Please see Tables 5 and 6 appearing later in this release for reconciliations of these non- GAAP measures to the most directly comparable GAAP measures.

4Total open Motto Mortgage franchises includes only "bricks and mortar" offices with a unique physical address with rights granted by a full franchise agreement with Motto Franchising, LLC and excludes any "virtual" offices or BranchiseSM offices.

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About RE/MAX Holdings, Inc.

RE/MAX Holdings, Inc. (NYSE: RMAX) is one of the world's leading franchisors in the real estate industry, franchising real estate brokerages globally under the RE/MAX® brand, and mortgage brokerages within the U.S. under the Motto® Mortgage brand. RE/MAX was founded in 1973 by Dave and Gail Liniger, with an innovative, entrepreneurial culture affording its agents and franchisees the flexibility to operate their businesses with great independence. Now with more than 140,000 agents in almost 9,000 offices and a presence in over 110 countries and territories, nobody in the world sells more real estate than RE/MAX, as measured by total residential transaction sides. Dedicated to innovation and change in the real estate industry, RE/MAX launched Motto Franchising, LLC, aground-breaking mortgage brokerage franchisor, in 2016. Motto Mortgage has grown to over 175 offices across almost 40 states.

Forward-Looking Statements

This press release includes "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements are often identified by the use of words such as "believe," "intend," "expect," "estimate," "plan," "outlook," "project," "anticipate," "may," "will," "would" and other similar words and expressions that predict or indicate future events or trends that are not statements of historical matters. Forward-looking statements include statements related to: agent count; franchise sales; revenue; operating expenses; the Company's outlook for the second quarter and full year 2022; non-GAAP financial measures; housing and mortgage market conditions; growth opportunities, including initiatives to increase RE/MAX agent count in the U.S. and accelerate the expansion of the Company's mortgage business; the Company's evaluation of both organic and inorganic opportunities; and the Company's belief that it can make a measurable difference in its growth trajectory through strategic moves. Forward-looking statements should not be read as a guarantee of future performance or results and will not necessarily accurately indicate the times at which such performance or results may be achieved. Forward-looking statements are based on information available at the time those statements are made and/or management's good faith belief as of that time with respect to future events and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. These risks and uncertainties include, without limitation, (1) the global COVID-19 pandemic, which continues to pose significant and widespread risks and ongoing uncertainty for the Company's business, including the Company's agents, loan originators, franchisees and employees, as well as home buyers and sellers, (2) changes in the real estate market or interest rates and availability of financing, (3) changes in business and economic activity in general, (4) the Company's ability to attract and retain quality franchisees, (5) the Company's franchisees' ability to recruit and retain real estate agents and mortgage loan originators, (6) changes in laws and regulations, (7) the Company's ability to enhance, market, and protect its brands, including the RE/MAX and Motto Mortgage brands, (8) the Company's ability to implement its technology initiatives, (9) risks related to the Company's CEO transition, (10) fluctuations in foreign currency exchange rates, and (11) those risks and uncertainties described in the sections entitled "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in the most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q filed with the Securities and Exchange Commission ("SEC") and similar disclosures in subsequent periodic and current reports filed with the SEC, which are available on the investor relations page of the Company's website atwww.remaxholdings.comand on the SEC website atwww.sec.gov.Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date on which they are made. Except as required by law, the Company does not intend, and undertakes no obligation, to update this information to reflect future events or circumstances.

Investor Contact:	Media Contact:
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RE/MAX Holdings, Inc. - First Quarter 2022