Are the Exit financial statements audited?
Exit Franchise · 2025 FDDAnswer from 2025 FDD Document
ITEM 21 FINANCIAL STATEMENTS
Attached to this Disclosure Document as Exhibit F are EXIT Realty Upper Midwest's audited financial statements for the years ending December 31, 2022, December 31, 2023, and December 31, 2024. Also attached as part of Exhibit F are EXIT's audited financial statements for the fiscal years ending December 31, 2022, December 31, 2023, and December 31, 2024.
EXHIBIT F FINANCIAL STATEMENTS
THE YEAR-END FINANCIAL STATEMENTS FOR EXIT REALTY UPPER MIDWEST ARE AUDITED.
THE YEAR END FINANCIAL STATEMENTS FOR EXIT REALTY CORP. INTERNATIONAL ARE AUDITED.
Table of Contents
INDEPENDENT AUDITOR'S REPORT
To the Stockholders of Upper Midwest Realty, Inc. d.b.a. Exit Realty Upper Midwest Lakeville, Minnesota
Opinion
We have audited the accompanying financial statements of Upper Midwest Realty, Inc. d.b.a. Exit Realty Upper Midwest (a Minnesota S corporation), which comprise the Balance Sheets as of December 31, 2024, 2023, and 2022, and the related Statements of Income (Loss), Changes in Stockholders' Equity (Deficit), and Cash Flows for the years then ended, and the related Notes to the Financial Statements.
In our opinion, the financial statements referred to above present fairly, in all material respects, the financial positions of Upper Midwest Realty, Inc. d.b.a. Exit Realty Upper Midwest as of December 31, 2024, 2023, and 2022, and the results of their operations and cash flows for the years then ended in accordance with accounting principles generally accepted in the United States of America.
INDEPENDENT AUDITORS' REPORT
To the Board of Directors of EXIT Realty Corp. International
Opinion
We have audited the accompanying consolidated financial statements of EXIT Realty Corp. International (a corporation), which comprise the consolidated balance sheets as of December 31, 2024, and the related consolidated statements of operations and comprehensive loss, changes in stockholders' equity, and cash flows for the year then ended, and the related notes to the financial statements.
In our opinion, the consolidated financial statements referred to above present fairly, in all material respects, the financial position of EXIT Realty Corp. International as of December 31, 2024, and the results of their operations and their cash flows for the year then ended in accordance with accounting principles generally accepted in the United States of America.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 42)
What This Means (2025 FDD)
According to Exit's 2025 Franchise Disclosure Document, both Exit Realty Corp. International and Exit Realty Upper Midwest have audited financial statements. Specifically, Exhibit F of the FDD contains the year-end financial statements for both entities, and these statements are explicitly noted as being audited.
An independent auditor's report for Exit Realty Corp. International states that the consolidated balance sheets as of December 31, 2024, and the related consolidated statements of operations and comprehensive loss, changes in stockholders' equity, and cash flows for the year then ended, along with related notes, have been audited. The auditor's opinion is that these financial statements present fairly the financial position of Exit Realty Corp. International as of December 31, 2024, and the results of its operations and cash flows for the year then ended, in accordance with accounting principles generally accepted in the United States of America.
Similarly, an independent auditor's report for Upper Midwest Realty, Inc. d.b.a. Exit Realty Upper Midwest, indicates that their financial statements, including balance sheets as of December 31, 2024, 2023, and 2022, and the related statements of income (loss), changes in stockholders' equity (deficit), and cash flows for the years then ended, along with related notes, have been audited. The auditor's opinion is that these financial statements present fairly the financial positions of Exit Realty Upper Midwest as of December 31, 2024, 2023, and 2022, and the results of their operations and cash flows for the years then ended, in accordance with accounting principles generally accepted in the United States of America.