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Real Matters Reports Third Quarter Financial Results ( all amounts are expressed in millions of U.S. dollars , excluding per share amounts and unless otherwise stated ) TORONTO -- ( BUSINESS WIRE ) -- July 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 third quarter ended June 30 , 2021 . “ Third quarter consolidated revenues increased 9.6 % to $ 129.4 million . We posted record - breaking revenues and Net Revenue ( A ) in our U.S. Appraisal and Canadian segments , which was offset in part by a decline in our U.S. Title segment . We continued to grow market share , launch new lenders and we benefited from a more robust market on both sides of the border in the third quarter . Our U.S. Appraisal origination revenues were up 20.6 % compared with an estimated 17.1 % increase in the addressable market , while centralized U.S. Title revenues were down 22.2 % compared with an estimated 0.5 % decrease in the refinance origination market , ” said Real Matters Chief Executive Officer Brian Lang . “ Consolidated Net Revenue ( A ) decreased to $ 38.6 million from $ 43.9 million in the prior year period and consolidated Adjusted EBITDA ( A ) margins declined to 30.5 % from 47.6 % , respectively , principally as a result of lower U.S. Title volumes . As we execute on our long - term strategy in U.S. Title , our focus remains squarely on demonstrating our performance advantage with a view to growing market share and onboarding new clients in centralized title . ” " We purchased 4.4 million shares through our normal course issuer bid in the third quarter and remain confident in our long - term growth trajectory and our ability to execute and achieve our Fiscal 2025 targets , ” added Lang . Q3 2021 Key Performance Indicators ( year - over - year ) Revenues Revenue Growth ( Decline ) Net Revenue ( A ) Growth ( Decline ) U.S. Appraisal U.S. Title 17.5 % $ 85.3 million $ 27.7 million -28.8 % Consolidated $ 129.4 million 9.6 % 2.3 % -26.3 % -12.1 % 58.2 % 22.8 % 30.5 % Adjusted EBITDA ( A ) Margin Q3 2021 Highlights • Launched two new lenders in U.S. Title • Launched three new lenders in U.S. Appraisal • Purchased 4.4 million shares under our normal course issuer bid at a cost of $ 59.2 million Fiscal 2021 Year to Date Highlights • Launched eight new lenders in U.S. Title ( including first Tier 1 and one Tier 2 lender ) • Launched six new lenders in U.S. Appraisal ( including one Tier 2 lender ) • Purchased 6.2 million shares under our normal course issuer bid at a cost of $ 86.1 million Financial and Operational Summary ( millions of dollars ) Three months ended June 30 2021 Margin 2020 Margin $ Change % Change Revenues U.S. Appraisal $ 85.3 $ 72.6 $ 12.7 17.5 % U.S. Title 27.7 38.9 ( 11.2 ) -28.8 % Canada 16.4 6.6 9.8 149.1 % Consolidated revenues $ 129.4 $ 118.1 $ 11.3 9.6 %