Condensed Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2025	Jun. 30, 2024	Jun. 30, 2025	Jun. 30, 2024
Revenues:
Total management, incentive and advisory services revenues	$ 44,068	$ 49,266	$ 136,965	$ 145,430
Income from loan investments, net	677	0	1,869	0
Rental property revenues	2,033	191	5,080	415
Total reimbursable costs	107,950	156,213	396,958	539,469
Total revenues	154,728	205,670	540,872	685,314
Expenses:
Compensation and benefits	38,603	45,031	123,216	123,971
Equity based compensation	2,090	1,614	3,822	5,143
Separation costs	1,880	771	5,335	4,725
Total compensation and benefits expense	42,573	47,416	132,373	133,839
General and administrative	9,631	11,436	32,161	32,643
Other reimbursable expenses	87,977	132,339	333,882	473,569
Rental property expenses	748	79	1,569	157
Transaction and acquisition related costs	820	915	2,156	7,230
Depreciation and amortization	3,006	1,234	7,810	2,880
Total expenses	144,755	193,419	509,951	650,318
Operating income	9,973	12,251	30,921	34,996
Interest income	1,182	2,638	4,115	8,669
Interest expense	(1,062)	(80)	(2,632)	(171)
Change in fair value of Earnout liability	1,170	1,064	5,850	764
(Loss) gain on investments	(215)	188	(1,995)	4,800
Gain on sale of real estate	0	0	445	0
Income before income tax expense	11,048	16,061	36,704	49,058
Income tax expense	(1,753)	(3,657)	(5,607)	(8,415)
Net income	9,295	12,404	31,097	40,643
Net income attributable to noncontrolling interest in The RMR Group LLC	(5,200)	(7,482)	(17,259)	(22,876)
Net loss attributable to other noncontrolling interests	91	13	344	27
Net income attributable to The RMR Group Inc.	$ 4,186	$ 4,935	$ 14,182	$ 17,794
Weighted average common shares outstanding - basic (in shares)	16,660	16,542	16,630	16,522
Weighted average common shares outstanding - diluted (in shares)	16,660	16,542	31,633	16,522
Net income attributable to The RMR Group Inc. per common share - basic (in usd per share)	$ 0.25	$ 0.29	$ 0.83	$ 1.06
Net income attributable to The RMR Group Inc. per common share - diluted (in usd per share)	$ 0.25	$ 0.29	$ 0.82	$ 1.06
Management services
Revenues:
Total management, incentive and advisory services revenues	$ 42,724	$ 47,769	$ 133,289	$ 141,323
Incentive fees
Revenues:
Total management, incentive and advisory services revenues	229	370	316	729
Advisory services
Revenues:
Total management, incentive and advisory services revenues	1,115	1,127	3,360	3,378
Reimbursable compensation and benefits
Revenues:
Total reimbursable costs	18,337	22,786	60,738	62,243
Reimbursable equity based compensation
Revenues:
Total reimbursable costs	1,636	1,088	2,338	3,657
Other reimbursable expenses
Revenues:
Total reimbursable costs	$ 87,977	$ 132,339	$ 333,882	$ 473,569

RMR GROUP INC. 10-Q