What are the key drivers behind the revenue increase—new client acquisition, higher pricing, or improved product mix?

Fundamental view – what’s powering the 36% top‑line jump

The press release points directly to “25% transaction growth” as the engine behind the 36% YoY revenue surge. In a transaction‑based, technology‑driven real‑estate services model, a lift in transaction count is almost always a proxy for new client acquisition and deeper penetration of existing accounts (more deals per client). The company did not call out higher pricing or a shift to higher‑margin service lines, so the bulk of the growth is volume‑driven rather than price‑driven. An improved product mix (e.g., upselling data‑analytics or end‑to‑end platform services) may be present, but the lack of explicit mention suggests it is a secondary contributor.

Trading implications

• Bullish catalyst: The strong, repeatable transaction growth signals a expanding franchise and a scalable platform—good fundamentals for a price‑run. The market is likely still under‑pricing the forward‑looking revenue runway, leaving upside potential.
• Risk check: Since the lift is volume‑centric, watch for any signs of pricing pressure or client churn in the next quarter. A widening gross‑margin gap would hint at a successful product‑mix upgrade; a flat or narrowing margin could expose reliance on volume alone.
• Action: With the Q2 beat and a clear growth narrative, a long position (or adding to existing exposure) is warranted, especially on breakout to the upside of the recent resistance around $12‑$13. Keep a stop just below the 50‑day moving average (~$10.5) to guard against a pull‑back if the transaction momentum stalls. If the next earnings call flags a shift toward higher‑margin services, consider scaling in on any pull‑back to capture the upside from a improving product mix.