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Real Matters Reports First Quarter Financial Results ( all amounts are expressed in millions of U.S. dollars , excluding per share amounts and unless otherwise stated ) TORONTO -- ( BUSINESS WIRE ) -- January 28 , 2021 -- Real Matters Inc. ( TSX : REAL ) ( " Real Matters ” or the “ Company ” ) , a leading network management services platform for the mortgage and insurance industries , today announced its financial results for the first quarter ended December 31 , 2020 . " We reported solid first quarter results driven by strong year - over - year growth in our U.S. Title segment . Consolidated Net Revenue ( A ) increased 24.8 % to $ 44.0 million and consolidated Adjusted EBITDA ( A ) increased 19.7 % to $ 17.4 million , ” said Real Matters Chief Executive Officer Brian Lang . “ The U.S. mortgage market remained strong in the first quarter due to sustained strength in refinance volumes . We estimate that refinance market volume was up 60 % ; by comparison , our centralized title revenues increased 93 % . Our U.S. Appraisal origination revenues increased over 9 % compared with an estimated flat addressable mortgage origination market volumes . Our Canadian segment posted strong results in the first quarter , principally as a result of market share gains and stronger market volumes . Canadian revenues were up 40.7 % , while Net Revenue ( A ) and Adjusted EBITDA ( A ) increased 25.1 % and 67.8 % , respectively . We were active in our normal course issuer bid in the first quarter this year , purchasing 1.2 million shares at a cost of $ 18.9 million . " Q1 2021 Key Performance Indicators ( year - over - year ) U.S. Appraisal U.S. Title Consolidated Revenues Revenue Growth Net Revenue ( A ) Growth Adjusted EBITDA ( A ) Margin $ 69.6 million $ 39.9 million $ 120.3 million 3.2 % 39.0 % 15.9 % 1.4 % 44.4 % 24.8 % 56.3 % 43.5 % 39.6 % Q1 2021 Highlights • Launched one new Tier 2 lender in two channels in U.S. Appraisal • Launched two new lenders in U.S. Title ( including one Tier 2 lender ) • Purchased 1.2 million shares under our normal course issuer bid at a cost of $ 18.9 million