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RESAAS Services Swings to First-quarter Profit, Higher Revenue

RESAAS Services (RSS.V) after trade Thursday swung to a first-quarter profit on higher revenue.The company earned $8,627 in the quarter ended March 31, compared with a loss of $69,045 a year ago. RESAAS said that this is the second straight profitable quarter, and the gain was mainly driven by higher revenue and lower stock-based compensation, partly offset by increased research and development spending.Revenue rose 98% year-over-year to $302,470 from $152,681 in the year-ago quarter. "This growth was driven by an increase in recurring SaaS subscription revenue, promotional subscription revenue, CODE revenue, and enterprise referral platform revenue, including non-cash consideration measured at fair value in accordance with IFRS 15," the company said.Looking ahead, the company said key growth drivers for 2026 and beyond include continued onboarding of new enterprise customers and increased use of existing referral networks through partners such as Savills and Chestertons, along with other global clients.