Company: RMSGW
Filing Date: 2025-07-31
Form Type: 20-F
Source: 0001641172-25-021609
Chunk: 69

Company: Real Messenger Corp
Filing Date: 2025-07-31
Form: 20-F
Item: Item 5
Chunk 69
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 revenue from our software suite.

Key
Operating Metrics

In
line with our transition to a revenue-generating operating platform, our management team has revised the key metrics used to evaluate
business performance. We no longer consider consumer-facing metrics - such as downloads, app session time, or user engagement - as
relevant indicators of financial or operational success. Instead, we now focus on business fundamentals that align with our scalable
brokerage model and technology monetization strategy.

Our
primary metrics will include:

  Real                                                                                                         
  Agent                                                                                                        
  Commission                                                                                                   
  Agent                                                                                                        
  Technology                                                                                                   
  User                                                                                                         
  Inside                                                                                                       

We
believe these key metrics will provide a clearer and more actionable view of our operational performance, resource allocation, and
growth trajectory.

A.
OPERATING RESULTS

Strategic
Shift to Revenue-Generating Operations

In
fiscal 2025, the Company initiated a strategic pivot from a pre-revenue, growth-stage technology company into an acquisition-led real
estate operating platform. This transition reflects shifting investor preferences and evolving macroeconomic conditions. Our focus is
now on acquiring and integrating cash-flowing brokerages, monetizing agents through software subscriptions, and increasing operational
leverage through a proprietary real estate technology stack. This repositioning marks a fundamental shift in how we define growth and
financial sustainability. As of the date of this report, we have not signed any legally binding acquisition agreements or any non-binding letters
of intent with any potential acquisition candidates.

The
real estate industry is undergoing structural change. High interest rates have significantly reduced transaction volume, resulting in
widespread brokerage consolidation. Simultaneously, litigation and regulatory reforms are forcing a re-examination of agent compensation
structures and value delivery. We believe these pressures will accelerate the bifurcation of the market - favoring either low-cost
digital models or high-touch, brand-centric teams. Our multi-model platform is designed to support both, allowing us to capture agent
migration and retention in ways that traditional brokerages cannot.

  49  

Factors
Affecting the Group’s Performance and Related Trends

Our
business, financial condition and results of operations have been, and are expected to continue to be, affected by a number of factors,
which primarily include the following:

Our
ability to monetize our services and products.

Our
ability to engage, retain, and increase our user base and to generate potential revenue and then grow it will depend heavily on our ability to successfully
monetize