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Real Matters Reports Second Quarter Financial Results and Intention to Renew its Normal Course Issuer Bid ( all amounts are expressed in millions of U.S. dollars , excluding per share amounts and unless otherwise stated ) TORONTO -- ( BUSINESS WIRE ) -- April 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 second quarter ended March 31 , 2021 . " We were very pleased with our performance in the second quarter ; we delivered strong financial results and launched our first Tier 1 lender in U.S. Title , marking the achievement of a significant milestone in the execution of our long - term growth strategy . Consolidated Net Revenue ( ¹ ) increased 29.8 % to $ 46.7 million and Adjusted EBITDA ( ¹ ) increased 30.2 % to $ 19.0 million from the second quarter of fiscal 2020 , principally driven by higher volumes and margin expansion in our U.S. Title segment , " said Real Matters Chief Executive Officer Brian Lang . “ The U.S. mortgage market continued to demonstrate strong year - over - year growth in the second quarter and both our U.S. businesses outperformed the market from market share growth and new client additions . Our centralized U.S. Title revenues were up 78.4 % compared with an estimated 71.1 % increase in the refinance origination market , while U.S. Appraisal origination revenues were up 12.0 % compared with an estimated 10.7 % increase in the addressable market . " “ Looking ahead , our principal focus continues to be market share growth and adding new clients . Given our performance track record and the breadth of our U.S. lender client base , we are confident in our ability to continue driving organic growth over the long - term with a view of achieving our Fiscal 2025 targets , ” added Lang . Q2 2021 Key Performance Indicators ( year - over - year ) Revenues Revenue Growth U.S. Appraisal U.S. Title Consolidated $ 76.3 million $ 40.1 million $ 128.8 million 7.0 % 30.0 % 17.5 % -4.4 % 64.1 % 29.8 % 55.5 % 46.1 % 40.7 % Net Revenue ( A ) Growth Adjusted EBITDA ( A ) Margin Q2 2021 Highlights • . Launched first Tier 1 lender in U.S. Title and three other new lenders Launched two new lenders in U.S. Appraisal • Purchased 594 thousand shares under our normal course issuer bid at a cost of $ 8.0 million Fiscal 2021 Year to Date Highlights • • Launched six new lenders in U.S. Title ( including first Tier 1 and one Tier 2 lender ) Launched three lenders in U.S. Appraisal ( including one Tier 2 lender ) • Purchased 1.8 million shares under our normal course issuer bid at a cost of $ 26.9 million