RMR Group Inc. Files 10-Q for Period Ending December 31, 2023

TL;DR

<b>RMR Group Inc. filed its Q1 2024 10-Q, detailing financial performance and share information for the quarter ending December 31, 2023.</b>

AI Summary

RMR GROUP INC. (RMR) filed a Quarterly Report (10-Q) with the SEC on February 7, 2024. RMR Group Inc. reported its Q1 2024 results for the period ending December 31, 2023. The filing covers the fiscal quarter from October 1, 2023, to December 31, 2023. Key financial data points and share information for Common Class A and B members are included. The company operates under the SIC code 8742 for Management Consulting Services. The filing was submitted on February 7, 2024.

Why It Matters

For investors and stakeholders tracking RMR GROUP INC., this filing contains several important signals. This 10-Q filing provides investors with a detailed look at RMR Group's financial health and operational performance during the first quarter of fiscal year 2024. Understanding the specifics of revenue segments, share structure, and related party transactions is crucial for assessing the company's current financial standing and future prospects.

Risk Assessment

Risk Level: low — RMR GROUP INC. shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not indicate any immediate or significant financial distress or unusual events.

Analyst Insight

Review the detailed segment revenues and growth rates to understand the drivers of RMR Group's performance in Q1 2024.

Revenue Breakdown

Key Numbers

• 2023-12-31 — Period End Date (Conformed period of report)
• 2024-02-07 — Filing Date (Filed as of date)
• 0930 — Fiscal Year End (Company fiscal year end)
• 8742 — SIC Code (Standard Industrial Classification)

Key Players & Entities

• RMR GROUP INC. (company) — Filer name
• 20231231 (date) — Conformed period of report
• 20240207 (date) — Filed as of date
• 8742 (other) — Standard Industrial Classification
• MD (other) — State of incorporation
• 001-37616 (other) — SEC file number
• NEWTON (other) — Business address city
• MA (other) — Business address state

Forward-Looking Statements

• RMR Group Inc. will continue to face pressure on its management and advisory service revenues in the next quarter. (RMR Group Inc.) — medium confidence, target: 2024-03-31

FAQ

Key Dates

• 2023-12-31: Quarter End Date — End of the reporting period for the 10-Q filing.
• 2024-02-07: Filing Date — Date the 10-Q was officially submitted to the SEC.

Key Financial Figures

• $0.001 — Which Registered Class A common stock, $0.001 par value per share RMR The Nasdaq Stoc

Filing Documents

• rmr-20231231.htm (10-Q) — 1167KB
• rmr_12312023xexhibitx101.htm (EX-10.,1) — 92KB
• rmr_12312023xexhibitx311.htm (EX-31.1) — 10KB
• rmr_12312023xexhibitx312.htm (EX-31.2) — 10KB
• rmr_12312023xexhibitx321.htm (EX-32.1) — 6KB
• rmr_letterheadxcropa.jpg (GRAPHIC) — 10KB
• 0001644378-24-000009.txt (&nbsp;) — 6787KB
• rmr-20231231.xsd (EX-101.SCH) — 52KB
• rmr-20231231_cal.xml (EX-101.CAL) — 78KB
• rmr-20231231_def.xml (EX-101.DEF) — 341KB
• rmr-20231231_lab.xml (EX-101.LAB) — 555KB
• rmr-20231231_pre.xml (EX-101.PRE) — 432KB
• rmr-20231231_htm.xml (XML) — 1002KB

Financial Statements (unaudited)

Financial Statements (unaudited) Condensed Consolidated Balance Sheets — December 31, 2023 and September 30, 2023 3 Condensed Consolidated Statements of Income — Three Months Ended December 31, 2023 and 2022 4 Condensed Consolidated Statements of Shareholders' Equity — Three Months Ended December 31, 2023 and 2022 5 Condensed Consolidated Statements of Cash Flows — Three Months Ended December 31, 2023 and 2022 6 Notes to Unaudited Condensed Consolidated Financial Statements 7 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 22 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 29 Item 4.

Controls and Procedures

Controls and Procedures 30 Warning Concerning Forward-Looking Statements 30 PART II . Other Information Item 1A.

Risk Factors

Risk Factors 31 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 31 Item 6. Exhibits 32

Signatures

Signatures 33 2 Table of Contents

Financial Information

PART I. Financial Information

Financial Statements

Item 1. Financial Statements The RMR Group Inc. Condensed Consolidated Balance Sheets (dollars in thousands, except per share amounts) (unaudited) December 31, September 30, 2023 2023 Assets Cash and cash equivalents $ 202,428 $ 267,989 Due from related parties 114,006 111,323 Prepaid and other current assets 9,271 6,997 Total current assets 325,705 386,309 Property and equipment, net of accumulated depreciation of $ 3,112 and $ 3,212 , respectively 14,728 5,446 Due from related parties, net of current portion 8,987 7,261 Equity method investments 22,102 18,651 Goodwill 71,620 1,859 Intangible assets, net of accumulated amortization of $ 1,113 and $ 983 , respectively 21,356 167 Operating lease right of use assets 30,464 29,032 Deferred tax asset 17,356 18,220 Other assets, net of accumulated amortization of $ 80,678 and $ 78,324 , respectively 113,125 115,479 Total assets $ 625,443 $ 582,424 Liabilities and Equity Reimbursable accounts payable and accrued expenses $ 77,709 $ 77,924 Accounts payable and accrued expenses 42,494 22,578 Operating lease liabilities 5,875 5,068 Total current liabilities 126,078 105,570 Operating lease liabilities, net of current portion 25,580 25,044 Amounts due pursuant to tax receivable agreement, net of current portion 20,886 20,886 Other liabilities 23,534 7,261 Mortgage note payable 4,730 — Total liabilities 200,808 158,761 Commitments and contingencies Equity: Class A common stock, $ 0.001 par value; 31,950,000 shares authorized; 15,710,555 and 15,712,007 shares issued and outstanding, respectively 16 16 Class B-1 common stock, $ 0.001 par value; 1,000,000 shares authorized, issued and outstanding 1 1 Class B-2 common stock, $ 0.001 par value; 15,000,000 shares authorized, issued and outstanding 15 15 Additional paid in capital 116,598 116,010 Retained earnings 420,093 413,096 Cumulative common distributions ( 295,756 ) ( 289,072 ) Total shareholders' equity 240,967 240,06

View Full Filing

View this 10-Q filing on SEC EDGAR