Leading luxury real estate brokerage brings comprehensive financing solution for traditional and non- traditional borrowers to its flagship market NEW YORK, Jan. 7, 2026 /PRNewswire/ -- Douglas Elliman Real Estate, the nation's leading luxury residential real estate brokerage, today announced that Elliman Capital, the innovative in-house mortgage platform launched last July in Florida, has now expanded to New York, which includes all of New York City, Long Island, the Hamptons, North Fork, Westchester and H ...

Group 1: Sea Limited - Sea Limited, often referred to as the "Amazon of Southeast Asia," operates three business units: Shopee, Monee, and Garena, making it a significant player in the digital economy [3][4] - Shopee is the largest e-commerce platform in Southeast Asia, processing 10 billion orders worth $90.6 billion in the first three quarters of 2025 [3] - Sea Limited is projected to grow its revenue by over 30% in 2025, its fastest pace in four years, despite its stock being down 35% from its 52-week high [4] Group 2: Workiva - Workiva provides a platform that integrates with major digital storage, productivity, and accounting applications, allowing organizations to compile reports efficiently [5] - The company is expected to achieve record revenue in 2025 due to growth in its largest customer segments, although its stock is down 20% this year [7] - The majority of analysts covering Workiva rate it as a buy, indicating strong potential for future growth [7] Group 3: Douglas Elliman - Douglas Elliman is the fifth-largest residential real estate brokerage in the U.S., with significant operations in luxury markets [9] - The company sold $30.1 billion worth of real estate in the first three quarters of 2025, on track to exceed its 2024 sales total of $36.4 billion [9] - Despite a 46% increase in stock price in 2025, it remains undervalued compared to its all-time high and rivals, suggesting potential for further growth if interest rates decrease [10][11] Group 4: DigitalOcean - DigitalOcean focuses on providing cloud computing and AI services to small and mid-sized businesses, utilizing GPUs from top suppliers [12][13] - The company's AI-related revenues have more than doubled year over year for five consecutive quarters, indicating strong momentum entering 2026 [14] - DigitalOcean's stock is considered inexpensive, making it an attractive option for investors looking for growth in the AI sector [14]

Key Points The Federal Reserve cut interest rates six times since September 2024, and policymakers are forecasting more cuts in 2026. Lower interest rates typically boost the housing market by reducing mortgage costs and giving buyers more borrowing power. Douglas Elliman is one of America's largest residential real estate brokerage companies, and its stock looks like a bargain heading into 2026. 10 stocks we like better than Douglas Elliman › The U.S. Federal Reserve aggressively increased inte ...

In Alignment with CEO Michael Liebowitz's Vision for Douglas Elliman's New Era, Industry Leader and Strategic Luxury Advisor Heather Domi Returns to Douglas Elliman NEW YORK, Dec. 18, 2025 /PRNewswire/ -- Douglas Elliman Realty, the nation's leading luxury real estate brokerage, today announced the return of Heather L. Domi to the firm, marking a strategic homecoming and an exciting new chapter in a distinguished career spanning nearly 25 years in New York City and South Florida. She will lead the Heather ...

Core Insights - Manhattan luxury home sales increased in November despite concerns over the potential impact of the new mayor-elect's policies on wealthy residents [1][5] - The number of signed contracts for luxury homes priced at $4 million or more rose to 176 in November, up from 141 in October [2] - The luxury home market is on track for its second-highest sales year since 2006, with over 1,300 contracts signed so far this year [6] Market Performance - There were 116 luxury home sales in Manhattan in November 2024, indicating a robust market despite political concerns [2] - More than half of the contracts signed between November 3-9 were completed after the mayoral election, suggesting resilience in the market [3] - The luxury home market in New York City increased at more than double the rate of the overall market last month [7] Demographics - Approximately 34,700 residents in New York City reported an income of $1 million or more in tax year 2023, a slight increase from the previous year [4] - The number of millionaires in the city has seen fluctuations, with a peak of 35,881 in 2021 [4]

Core Insights - Douglas Elliman Realty has appointed Chris Reyes as Chief Technology Officer, bringing over 20 years of experience in technology innovation within the real estate and financial services sectors [1][2][3] Company Overview - Douglas Elliman Realty, LLC is one of the largest independent residential real estate brokerages in the United States, with operations across multiple states including New York, California, and Texas [5] - The company is involved in sourcing, using, and investing in early-stage disruptive property technology (PropTech) solutions and provides various real estate services [5] Leadership and Vision - Chris Reyes is recognized as a proven technology leader with expertise in building scalable platforms that empower real estate professionals [3] - Reyes expressed enthusiasm for leveraging technology to enhance the real estate experience and aims to drive technology transformation across departments for the benefit of agents and clients [4]

Core Viewpoint - The U.S. housing market is currently struggling due to high interest rates, but a potential recovery is anticipated as rates begin to decline, presenting investment opportunities in companies like Douglas Elliman [1][2][6]. Company Overview - Douglas Elliman is the fifth-largest residential real estate brokerage in the U.S., with a history dating back to 1911, employing 6,600 agents across 113 offices, and specializing in high-end markets [3][4]. - The company is expanding into ultra-luxury markets in France and Monaco, indicating growth ambitions [4]. Financial Performance - In the first three quarters of 2025, Douglas Elliman generated $787.6 million in revenue, a 5% increase year-over-year, and is on track to surpass its 2024 sales total of $36.4 billion [5][10]. - The company reported a net loss of $53.3 million, a 24% reduction from the previous year's loss, but achieved adjusted EBITDA of $2.9 million, a positive swing from a loss of $12.3 million in the prior year [11]. Market Position and Valuation - Douglas Elliman's stock is trading at a price-to-sales (P/S) ratio of 0.2, significantly lower than its peak of 0.8 during the last housing boom in 2021, and cheaper than its main competitor, Compass, which has a P/S ratio of 0.7 [13]. - The stock has increased by 46% in 2025, suggesting potential for further growth given the company's financial stability and strategic investments [16]. Strategic Initiatives - The company launched Elliman Capital, an in-house mortgage platform, to assist buyers with financing, creating a new revenue stream [7]. - Douglas Elliman introduced an AI assistant, Elli AI, aimed at improving agent productivity and reducing operational costs, marking the beginning of a broader AI transformation [8].

Financial Performance - Total transactions for the last twelve months ended September 30, 2025, were 21,436, an increase from 16,444 in the same period of 2024[112] - Gross transaction value reached $38.9 billion for the last twelve months ended September 30, 2025, compared to $27.6 billion for the same period in 2024, reflecting a 40% increase[112] - Average transaction value per transaction was $1,813.4 thousand for the last twelve months ended September 30, 2025, up from $1,679.1 thousand in the previous year[112] - Revenue for the three months ended September 30, 2025, was $262,838 thousand, a decrease from $266,316 thousand in the same period of 2024[125] - Revenues from commission and other brokerage income were $250,354 for the three months ended September 30, 2025, a decline of $3,720 compared to $254,074 for the same period in 2024[126] - Revenues for the nine months ended September 30, 2025, were $787,607, an increase of $35,301 from $752,306 in 2024, attributed to higher commissions and brokerage income[139] Profitability and Loss - Net loss attributed to Douglas Elliman Inc. was $59,346 thousand for the last twelve months ended September 30, 2025, compared to a net loss of $70,319 thousand for the same period in 2024[112] - Adjusted EBITDA attributed to Douglas Elliman was $(2,454) thousand for the last twelve months ended September 30, 2025, an improvement from $(12,380) thousand in the previous year[112] - Operating loss for the three months ended September 30, 2025, was $(10,655) thousand, compared to $(7,431) thousand for the same period in 2024[125] - Operating loss was $10,655 for the three months ended September 30, 2025, compared to $7,431 in 2024, primarily due to increased general and administrative expenses[134] Expenses - Operating expenses were $273,493 for the three months ended September 30, 2025, a slight decrease of $254 from $273,747 in 2024, primarily due to declines in real estate brokerage commissions[127] - Real estate agent commissions expense was $192,771 for the three months ended September 30, 2025, down $6,362 from $199,133 in 2024, with the expense as a percentage of revenues decreasing to 73.3% from 74.8%[128][129] - Real estate agent commissions expense for the nine months ended September 30, 2025, was $583,890, up $19,284 from $564,606 in 2024, with the expense as a percentage of revenues decreasing to 74.1% from 75.1%[142] Cash Flow and Liquidity - Cash, cash equivalents, and restricted cash increased by $8,686 to $150,907 during the nine months ended September 30, 2025, compared to an increase of $27,746 in the same period of 2024[153] - Cash provided by operations was $505 for the nine months ended September 30, 2025, a significant improvement from cash used in operations of $16,987 in 2024[154] - Cash provided by investing activities was $8,266 for the nine months ended September 30, 2025, compared to cash used of $2,009 for the same period in 2024, indicating a significant increase in cash inflow[156] - Cash used in financing activities was $85 for the nine months ended September 30, 2025, a stark contrast to cash provided of $46,742 in the same period of 2024, primarily due to debt issuance proceeds in the prior year[158] - As of September 30, 2025, the company had cash and cash equivalents of approximately $143,003, which is expected to meet liquidity needs over the next twelve months[161] Strategic Transactions - The company sold its property management subsidiary for a base purchase price of $85,000 thousand on October 24, 2025[120] - The company repaid and redeemed all senior secured convertible promissory notes for an aggregate payment of $95,000 thousand on October 24, 2025[121] - The company issued Convertible Notes totaling $50,000 on July 2, 2024, and repaid all notes for $95,000 on October 24, 2025, including accrued interest[159] - The company is evaluating potential acquisitions and strategic transactions, which may limit available liquidity[160] Legal and Market Risks - The company agreed to pay $7,750 as part of a settlement agreement related to litigation, with additional contingent payments of $5,000 through December 31, 2027[162] - The company continues to face litigation risks, including claims related to former independent contractors, which could materially affect financial position and results[165] - The company is exposed to market risks from fluctuations in interest rates and may face risks from foreign currency exchange rates and equity prices in the future[169] Retention and Growth Metrics - Annual retention rate was 84% for the last twelve months ended September 30, 2025, down from 89% in the previous year[112] - Gross profit increased to $70,067 for the three months ended September 30, 2025, compared to $67,183 in 2024, driven by improved margins from the Development Marketing division[130] - Gross profit for the nine months ended September 30, 2025, was $203,717, an increase from $187,700 in 2024, due to increased existing home sales and Development Marketing contributions[143] Contingent Liabilities - Portfolio Escrow Inc. had escrow funds on deposit of $20,640 as of September 30, 2025, which are not assets of the company but represent contingent liabilities[168] - As of September 30, 2025, the company had outstanding letters of credit of approximately $2,645, collateralized by certificates of deposit[167]

Core Points - Douglas Elliman held its Third Quarter 2025 Earnings Conference Call, which was recorded and webcasted, with an archived version available for one year on the company's Investor Relations website [1] - The call featured key executives including Michael Liebowitz, President and CEO, and Bryant Kirkland, CFO of Douglas Elliman Inc. [2] - The company utilized non-GAAP financial measures such as adjusted EBITDA and adjusted net income or loss, which should be considered alongside GAAP measures [3] - A safe harbor statement was read, indicating that forward-looking statements made during the call are subject to risks and uncertainties [4] - The company does not undertake any duty to update or revise forward-looking statements made during the call [5]

Financial Data and Key Metrics Changes - For the first nine months of 2025, revenues increased by 5% year over year to $787.6 million, compared to $752.3 million in the same period last year [6][25] - The operating loss was reduced to $21.5 million from $52.6 million in the same period last year, indicating progress towards profitability [6] - Net loss for the nine months ended 09/30/2025 was $53.3 million or $0.63 per diluted share, compared to $70.3 million or $0.84 per diluted share in the previous year [24] - Adjusted EBITDA for the nine months ended 09/30/2025 was $2.9 million compared to a loss of $12.4 million in the 2024 period, an increase of $15.3 million [24][25] Business Line Data and Key Metrics Changes - Revenues from the development marketing division increased by $17.2 million from the first nine months of 2024, benefiting from a favorable sales mix [16] - Revenues from existing home sales in the Northeast market increased by $12.4 million or 9% from the first nine months of 2024 [17] - The development marketing division's nine-month revenues increased from $42.3 million in 2024 to $59.5 million in 2025 [20] Market Data and Key Metrics Changes - The average price per transaction year to date rose to $1.87 million compared to $1.68 million per home in the same period last year [18] - In 2025, the company sold 333 homes priced at more than $5 million, representing a 20% increase over last year [18] - The company sold 87 homes for more than $10 million in the third quarter, a 1928% increase from the previous year [19] Company Strategy and Development Direction - The company is focused on building a more focused pure play luxury brokerage, aiming for long-term success and value creation [5] - Strategic initiatives include the sale of the property management division for $85 million, which is expected to yield an after-tax gain of approximately $75 million [10] - The launch of Element International aims to expand the brand into key global markets, with recent entry into France and plans for further expansion [8][9] - The introduction of Element Capital, an in-house mortgage platform, is designed to streamline the home financing process for clients [11] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's positive momentum and long-term success, highlighting the strength of the balance sheet as a competitive advantage [14][15] - The company anticipates that investments and strategic moves made in 2025 will yield results in 2026 and beyond [13][26] - Management acknowledged ongoing challenges from economic pressures, including geopolitical uncertainties and elevated mortgage rates [17] Other Important Information - The company had cash balances of approximately $126.5 million as of 10/31/2025 and no debt, positioning it to capitalize on market opportunities [11][25] - The company has introduced new specialized client services, including an estate, trust, and probate division, and an AI-powered assistant app for agents [12][13] Q&A Session Summary - No specific questions or answers were provided in the transcript, as the call concluded without a Q&A segment [27]