Financial Data and Key Metrics Changes - In the first half of 2025, revenues increased by 8% year over year to $524.8 million, marking the strongest first half revenue performance since 2022 [6] - The net loss for the second quarter was $22.7 million or $0.27 per diluted share, compared to a net loss of $1.7 million or $0.02 per diluted share in the second quarter of 2024 [22] - Adjusted EBITDA for the second quarter was a loss of $849,000 compared to a positive $2.9 million in the second quarter of 2024 [22] - For the six months ended June 30, 2025, adjusted net loss was $7.1 million or $0.08 per share compared to $23.6 million or $0.28 per share in the 2024 period [24] Business Line Data and Key Metrics Changes - Revenues from existing home sales in New York and Northeast markets increased by $16.8 million or 7.9% from the first half of 2024 [14] - Development marketing's first half revenue increased by $17.7 million from the first half of 2024, reaching $35.4 million [20] - The average price per transaction rose to $1.92 million per home sale compared to $1.72 million in the comparable 2024 period [18] Market Data and Key Metrics Changes - The company reported a 38% increase in year-to-date sales of homes priced over $5 million compared to the first half of 2024 [18] - There were 204 home sales of more than $10 million in the first half of 2025, a 32% increase from 2024 [19] - The active pipeline for development marketing has a gross transaction value of approximately $28.1 billion, with $18.8 billion located in Florida [19] Company Strategy and Development Direction - The company is focused on executing strategic growth initiatives, including the launch of Element Capital and Element International [8] - Element Capital is an innovative mortgage platform expected to provide a licensing revenue stream and enhance service offerings [8] - Element International aims to serve international real estate needs directly, focusing on high-end luxury demand in key global markets [9] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the third quarter and 2025, citing encouraging trends such as continued demand for luxury homes and rising average transaction values [7] - The company acknowledges challenges faced in May and early June due to economic pressures and elevated mortgage rates, which dampened market activity [15] - Management believes the foundation of business and the development marketing pipeline bode well for future revenue recognition [19] Other Important Information - The company maintains ample liquidity with cash and cash equivalents of approximately $136 million as of June 30, 2025 [21] - The increase in net loss for the second quarter included a non-cash charge of $17 million related to the increase in fair value of derivatives embedded within convertible debt [22] Q&A Session Summary - There were no questions during the Q&A session, and the call concluded without further inquiries [27]

[Executive Summary & Highlights](index=1&type=section&id=Executive%20Summary%20%26%20Highlights) [Q2 & H1 2025 Performance Overview](index=1&type=section&id=Q2%20%26%20H1%202025%20Performance%20Overview) Douglas Elliman Inc. reported an 8% year-over-year revenue growth for the six months ended June 30, 2025, accompanied by significant improvements in first-half Net Loss, Adjusted Net Loss, and Adjusted EBITDA - Company reports **8% year-over-year revenue growth** for the six months ended June 30, 2025[1](index=1&type=chunk) - Significant improvements in first-half Net Loss, Adjusted Net Loss and Adjusted EBITDA[1](index=1&type=chunk) [CEO & CFO Commentary](index=1&type=section&id=CEO%20%26%20CFO%20Commentary) CEO Michael S. Liebowitz highlighted strong first-half momentum and improved Adjusted EBITDA, while CFO Bryant Kirkland noted solid revenue and a strong $136 million cash position for strategic investments - CEO Michael S. Liebowitz noted strong momentum, revenue growth, significantly narrowed operating losses, and improved adjusted EBITDA performance compared to H1 2024, driven by investing in agents and focusing on key luxury markets[3](index=3&type=chunk) - CFO Bryant Kirkland highlighted solid first-half revenue, further narrowed operating losses, and a strong cash position of **$136 million** as of June 30, 2025, enabling strategic investments and long-term value creation[3](index=3&type=chunk) [Financial Performance](index=1&type=section&id=Financial%20Performance) [GAAP Financial Results](index=1&type=section&id=GAAP%20Financial%20Results) Douglas Elliman's GAAP financial results for Q2 2025 showed a decrease in revenue and an increased operating and net loss compared to Q2 2024, but H1 2025 revenues increased, and operating and net losses significantly narrowed year-over-year [Three Months Ended June 30, 2025 (Q2)](index=1&type=section&id=Three%20months%20ended%20June%2030%2C%202025) Q2 2025 GAAP Financial Results (vs. Q2 2024) | Metric | Q2 2025 (Millions) | Q2 2024 (Millions) | Change (YoY) | | :----- | :----------------- | :----------------- | :----------- | | Revenues | $271.4 | $285.8 | -5.0% | | Operating Loss | $(5.5) | $(3.7) | -48.6% | | Net Loss attributed to Douglas Elliman | $(22.7) | $(1.7) | -1235.3% | | Diluted EPS | $(0.27) | $(0.02) | -1250.0% | [Six Months Ended June 30, 2025 (H1)](index=1&type=section&id=Six%20months%20ended%20June%2030%2C%202025) H1 2025 GAAP Financial Results (vs. H1 2024) | Metric | H1 2025 (Millions) | H1 2024 (Millions) | Change (YoY) | | :----- | :----------------- | :----------------- | :----------- | | Revenues | $524.8 | $486.0 | +8.0% | | Operating Loss | $(10.9) | $(45.1) | +75.9% | | Net Loss attributed to Douglas Elliman | $(28.7) | $(43.1) | +33.4% | | Diluted EPS | $(0.34) | $(0.52) | +34.6% | [Non-GAAP Financial Measures](index=2&type=section&id=Non-GAAP%20Financial%20Measures) The company's non-GAAP results show a decline in Adjusted EBITDA and an increase in Adjusted Net Loss for Q2 2025 compared to Q2 2024, but H1 2025 Adjusted EBITDA improved from a loss to income, and Adjusted Net Loss significantly narrowed year-over-year [Three Months Ended June 30, 2025 (Q2)](index=2&type=section&id=Three%20months%20ended%20June%2030%2C%202025%20compared%20to%20the%20three%20months%20ended%20June%2030%2C%202024) Q2 2025 Non-GAAP Financial Results (vs. Q2 2024) | Metric | Q2 2025 (Millions) | Q2 2024 (Millions) | Change (YoY) | | :----- | :----------------- | :----------------- | :----------- | | Adjusted EBITDA attributed to Douglas Elliman | $(0.8) | $2.9 | -127.6% | | Adjusted Net Loss attributed to Douglas Elliman | $(4.7) | $(0.5) | -840.0% | | Adjusted Diluted EPS | $(0.06) | $(0.01) | -500.0% | [Six Months Ended June 30, 2025 (H1)](index=2&type=section&id=Six%20months%20ended%20June%2030%2C%202025%20compared%20to%20the%20six%20months%20ended%20June%2030%2C%202024) H1 2025 Non-GAAP Financial Results (vs. H1 2024) | Metric | H1 2025 (Millions) | H1 2024 (Millions) | Change (YoY) | | :----- | :----------------- | :----------------- | :----------- | | Adjusted EBITDA attributed to Douglas Elliman | $0.3 | $(14.7) | +102.0% | | Adjusted Net Loss attributed to Douglas Elliman | $(7.1) | $(23.6) | +69.9% | | Adjusted Diluted EPS | $(0.08) | $(0.28) | +71.4% | [Operational Metrics](index=2&type=section&id=Operational%20Metrics) [Gross Transaction Value](index=2&type=section&id=Gross%20Transaction%20Value) Douglas Elliman Realty, LLC reported a slight decrease in gross transaction value for Q2 2025 but a significant increase for H1 2025, with average price per transaction also increasing for both periods Gross Transaction Value and Average Price per Transaction | Metric | Q2 2025 | Q2 2024 | Change (YoY) | H1 2025 | H1 2024 | Change (YoY) | | :-------------------------- | :-------- | :-------- | :----------- | :-------- | :-------- | :----------- | | Gross Transaction Value (Billions) | $10.2 | $10.6 | -3.8% | $20.1 | $17.8 | +12.9% | | Average Price per Transaction (Millions) | $1.840 | N/A | N/A | $1.923 | N/A | N/A | [Financial Position](index=2&type=section&id=Financial%20Position) [Balance Sheet Highlights](index=2&type=section&id=Consolidated%20Balance%20Sheet) Douglas Elliman maintained a strong balance sheet, reporting **$136.3 million** in cash and cash equivalents as of June 30, 2025 - Cash and cash equivalents stood at **$136.3 million** as of June 30, 2025, indicating a strong balance sheet[13](index=13&type=chunk) [Company Overview](index=4&type=section&id=Company%20Overview) [About Douglas Elliman Inc.](index=4&type=section&id=About%20Douglas%20Elliman%20Inc.) Douglas Elliman Inc. owns Douglas Elliman Realty, LLC, a leading residential brokerage company in the U.S., also investing in PropTech solutions and offering various real estate services - Douglas Elliman Inc. (NYSE: DOUG) owns Douglas Elliman Realty, LLC, a leading residential brokerage company in the United States[19](index=19&type=chunk) - Operations span major markets including New York City, Long Island, Florida, California, Texas, and Colorado, among others[19](index=19&type=chunk) - The company also invests in early-stage, disruptive property technology (PropTech) solutions and offers development marketing, property management, and settlement/escrow services[19](index=19&type=chunk) [Additional Information](index=2&type=section&id=Additional%20Information) [Conference Call Details](index=2&type=section&id=Conference%20Call%20to%20Discuss%20Second%20Quarter%202025%20Results) Douglas Elliman Inc. will host a conference call and webcast on Friday, August 1, 2025, at 8:00 AM (ET) to discuss its Q2 2025 results, with a replay available until August 14, 2025 - Conference call and webcast for Q2 2025 results scheduled for Friday, August 1, 2025, at 8:00 AM (ET)[14](index=14&type=chunk) - Live webcast accessible via https://join.eventcastplus.com/eventcastplus/Douglas-Elliman-Inc-Second-Quarter-2025-Earnings-Call[14](index=14&type=chunk) - A replay will be available from August 1, 2025, through August 14, 2025, at the same webcast link[15](index=15&type=chunk) [Non-GAAP Financial Measures Explanation](index=2&type=section&id=Non-GAAP%20Financial%20Measures) The company uses Non-GAAP Financial Measures (Adjusted EBITDA, Adjusted Net Loss, LTM measures) to supplement GAAP results, providing a useful understanding of operating performance by excluding certain non-recurring or non-cash items - Non-GAAP Financial Measures (Adjusted EBITDA, Adjusted Net Loss, LTM measures) are used to supplement GAAP results, enhancing understanding of operating performance[16](index=16&type=chunk)[17](index=17&type=chunk) - These measures provide insights into operating results unaffected by differences in capital structures and asset ages among comparable companies[17](index=17&type=chunk) - Non-GAAP measures should be considered in addition to, not as substitutes for or superior to, GAAP measures like operating income/loss, net income/loss, and cash flows from operations[18](index=18&type=chunk) [Forward-Looking and Cautionary Statements](index=4&type=section&id=Forward-Looking%20and%20Cautionary%20Statements) The press release contains forward-looking statements reflecting inherently uncertain current expectations, with actual results potentially differing due to risks detailed in SEC filings, and the company does not undertake to publicly update these statements except as required by law - The press release includes forward-looking statements, identifiable by terms like 'anticipate,' 'believe,' 'expect,' and 'will be,' reflecting current expectations that are inherently uncertain[21](index=21&type=chunk) - Actual results could differ materially due to risks and uncertainties described in the company's Annual Report on Form 10-K and Quarterly Reports on Form 10-Q[22](index=22&type=chunk) - The company undertakes no responsibility to publicly update or revise any forward-looking statement except as required by applicable law[22](index=22&type=chunk)

Core Insights - Douglas Elliman Real Estate has launched Elliman Capital, an in-house mortgage platform aimed at simplifying the home financing process for both traditional and non-traditional borrowers [1][2] - The platform will initially be available in Florida, with plans for expansion to all states where Douglas Elliman operates [1][3] Company Overview - Douglas Elliman Inc. is one of the largest residential brokerage companies in the United States, with operations in multiple states including New York, Florida, California, and Texas [5] - The company is also involved in early-stage property technology solutions and offers various real estate services [5] Product Offering - Elliman Capital provides a wide range of loan products, including conventional loans, jumbo loans, construction loans, investment property financing, bridge loans, commercial lending, second home mortgages, FHA loans, VA loans, and USDA loans [2][4] - The platform is designed to cater to diverse borrower needs, including self-employed individuals, investors, and foreign nationals [2][3] Technology and Process - The new mortgage platform incorporates advanced technology to streamline the mortgage application and approval process, allowing agents to track loan progress and receive real-time updates [4][6] - This integration aims to enhance the overall client experience from property search to closing [4] Competitive Advantage - Douglas Elliman's established reputation for luxury service and market expertise positions Elliman Capital to become a significant player in the residential lending market [4] - The company leverages strong lender relationships to offer competitive rates and optimal terms for clients [6]

Group 1 - The article discusses the uncertainty surrounding the recovery potential of real estate brokerage firm Douglas Elliman (NYSE: DOUG) after experiencing significant declines [1] - The analyst previously expressed a cautious stance on DOUG stock, indicating that there are mixed signals regarding its future performance [1]

Core Insights - Casa Avenida is an exclusive four-story townhome community in Delray Beach, featuring eight private residences priced around $3 million, with completion expected in Q2 2027 [1][2][3] Company Overview - 4TRO Development focuses on multifamily, residential, industrial, and mixed-use opportunities in the U.S., leveraging over 30 years of experience from its parent company, Grupo Geo [5] - Kastelo Development has built over $600 million in residential and mixed-use projects, concentrating on Florida townhomes in high-growth markets [6][7] - Douglas Elliman Inc. is one of the largest residential brokerage firms in the U.S., providing various real estate services and investing in PropTech solutions [8]

Financial Performance - Revenue for the three months ended March 31, 2025, was $253,403 thousand, up from $200,239 thousand in the same period of 2024, reflecting a $53,164 thousand increase [145]. - Net loss attributed to Douglas Elliman Inc. for the three months ended March 31, 2025, was $(5,985) thousand, significantly improved from $(41,475) thousand in the same period of 2024 [145]. - Adjusted EBITDA attributed to Douglas Elliman for the last twelve months ended March 31, 2025, was $926 thousand, compared to $(17,783) thousand for the year ended December 31, 2024 [141]. - Operating loss for the three months ended March 31, 2025, was $(5,349) thousand, a significant improvement from $(41,464) thousand in the same period of 2024 [145]. - The company reported a net loss margin of (3.89)% for the three months ended March 31, 2025, compared to (20.71)% for the same period in 2024 [136]. Transaction Metrics - Total transactions for the last twelve months ended March 31, 2025, were 22,212, an increase from 21,781 in the previous year [136]. - Gross transaction value reached $39.1 billion for the last twelve months ended March 31, 2025, compared to $36.4 billion for the year ended December 31, 2024 [136]. - The average transaction value per transaction was $1,761.4 thousand for the last twelve months ended March 31, 2025, an increase from $1,669.6 thousand for the year ended December 31, 2024 [136]. Agent Metrics - Annual retention rate for agents was 87% as of March 31, 2025, slightly down from 89% in the previous year [136]. - The number of Principal Agents as of March 31, 2025, was 4,763, down from 5,264 in the previous year [136]. Income and Expenses - Commission and other brokerage income increased to $241,143 for Q1 2025, up from $188,265 in Q1 2024, representing a growth of 28.1% [146]. - Real estate agent commissions expense rose to $186,525 in Q1 2025, compared to $149,016 in Q1 2024, marking an increase of $37,509 or 25.2% [149]. - Operating expenses totaled $258,752 for Q1 2025, an increase of $17,049 from $241,703 in Q1 2024 [147]. Cash Flow and Liquidity - Cash, cash equivalents, and restricted cash increased by $3,164 to $145,385 in Q1 2025, compared to a decrease of $29,449 in Q1 2024 [157]. - Cash used in operations decreased to $5,617 in Q1 2025 from $27,291 in Q1 2024, reflecting improved operational efficiency [158]. - Cash provided by investing activities was $8,781 in Q1 2025, compared to cash used of $2,158 in Q1 2024 [160]. - The company anticipates that current cash and expected cash flows will be sufficient to meet liquidity needs over the next twelve months [167]. - The company may pursue additional acquisitions or investments, which could impact available liquidity [162].

Financial Data and Key Metrics Changes - In Q1 2025, revenues increased by 27% year over year to $253.4 million, marking the strongest first quarter performance since 2022 [5] - The net loss for Q1 2025 was $6 million or $0.07 per diluted share, compared to a net loss of $41.5 million or $0.50 per diluted share in Q1 2024 [16] - Adjusted EBITDA for Q1 2025 was positive $1.1 million, compared to a loss of $17.6 million in Q1 2024 [16] - Adjusted net loss for Q1 2025 was $2.4 million or $0.03 per share, compared to an adjusted net loss of $23.1 million or $0.28 per share in Q1 2024 [16] Business Line Data and Key Metrics Changes - Revenues from existing home sales in New York City increased by $17 million or 34% from Q1 2024 [10] - Development marketing's revenues in Q1 2025 increased by $14.6 million or 222% from Q1 2024 [10] - The average price per transaction rose to $2 million per home sale compared to $1.6 million in the comparable 2024 period [11] Market Data and Key Metrics Changes - The average price per home sale transaction for the last twelve months was $1.76 million compared to $1.6 million in the 2024 period [11] - In February, 343 homes sold for approximately $5 million or more, a 73% increase from the same quarter last year [12] - 104 home sales of $10 million or more represented a 76% increase from the same quarter last year [12] Company Strategy and Development Direction - The company is focused on executing strategic growth initiatives, particularly in the development marketing division, which is crucial for long-term growth [8] - The company is prioritizing expense discipline while optimizing operations and balancing strategic investments with cost management [9] - The strategic M&A and business development unit is evaluating complementary acquisitions in ancillary businesses [9] Management's Comments on Operating Environment and Future Outlook - Management noted challenges such as elevated U.S. mortgage rates, low housing inventory, and soft transaction volume, but expressed optimism due to a 4% increase in average daily cash receipts in April 2025 compared to the same period in 2024 [7] - The company believes ongoing efforts are transforming it into a more diversified and resilient real estate services company [10] - Management is confident that the improvement in financial results positions the company for long-term success [10] Other Important Information - The company maintains active liquidity with cash and cash investments of approximately $137 million as of March 31, 2025 [14] - The decline in cash investments was $8.7 million in Q1 2025 compared to $28.4 million in Q1 2024, showing an improvement of approximately $20 million [15] Q&A Session Summary Question: No questions were raised during the call - The operator concluded the call without any questions from participants [17]

Douglas Elliman (DOUG) Q1 2025 Earnings Call May 02, 2025 08:00 AM ET Speaker0 Please stand by. Your program is about to begin. If you need audio assistance during today's program, please press 0. Welcome to the Douglas Elliman's First Quarter twenty twenty five Earnings Conference Call. This call is being recorded and simultaneously webcast. An archived version of the webcast will be available on the Investor Relations section of the company's website located at investors.ellmann.com for one year. During t ...

[Executive Summary & Business Highlights](index=1&type=section&id=Executive%20Summary%20%26%20Business%20Highlights) [First Quarter 2025 Performance Overview](index=1&type=section&id=First%20Quarter%202025%20Performance%20Overview) Douglas Elliman Inc. reported strong first-quarter 2025 financial results, achieving 27% year-over-year revenue growth and significant improvements in net loss and Adjusted EBITDA, driven by strategic investments and disciplined expense management. This marks the highest first-quarter revenue since 2022 Q1 2025 Key Financial Highlights | Metric | Q1 2025 | Q1 2024 | YoY Change | | :--- | :--- | :--- | :--- | | Revenues | $253.4 million | $200.2 million | +26.6% | | Operating Loss | $(5.3) million | $(41.5) million | -87.2% | | Net Loss attributed to Douglas Elliman | $(6.0) million | $(41.5) million | -85.5% | | Diluted EPS | $(0.07) | $(0.50) | -86.0% | | Adjusted EBITDA attributed to Douglas Elliman | $1.1 million | $(17.6) million | N/A (swing to positive) | | Adjusted Net Loss attributed to Douglas Elliman | $(2.4) million | $(23.1) million | -89.6% | [Management Commentary and Strategic Focus](index=1&type=section&id=Management%20Commentary%20and%20Strategic%20Focus) Management highlighted the strength of the luxury brand and the success of focusing on high-impact areas like Development Marketing. The company is committed to continued investment in agent experience and new technologies, supported by a strong balance sheet, to drive long-term growth and enhance stockholder value - Strategic Focus: - Driving growth by focusing on high-impact areas like Development Marketing - Reinforcing position as a leader in the luxury market - Committed to staying nimble in the core business - Continued investment in agent experience and new technologies[3](index=3&type=chunk) Balance Sheet Strength | Metric | Amount | | :--- | :--- | | Cash and Cash Equivalents | $137 million | [Financial Performance](index=1&type=section&id=Financial%20Performance) [GAAP Financial Results](index=1&type=section&id=GAAP%20Financial%20Results) The company reported significant improvements in its GAAP financial results for Q1 2025 compared to Q1 2024, with substantial revenue growth and a considerable reduction in operating and net losses [Condensed Consolidated Statements of Operations](index=4&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) Douglas Elliman's Q1 2025 condensed consolidated statements of operations show a strong increase in total revenues, primarily driven by commissions and other brokerage income, alongside a significant reduction in operating loss and net loss compared to the prior year Condensed Consolidated Statements of Operations (Q1 2025 vs Q1 2024) | Metric (in thousands) | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | **Revenues:** | | | | Commissions and other brokerage income | $241,143 | $188,265 | | Property management | $9,492 | $9,047 | | Other ancillary services | $2,768 | $2,927 | | **Total revenues** | **$253,403** | **$200,239** | | **Expenses:** | | | | Real estate agent commissions | $186,525 | $149,016 | | Sales and marketing | $19,739 | $21,298 | | Operations and support | $17,728 | $18,799 | | General and administrative | $27,325 | $27,016 | | Technology | $5,535 | $5,843 | | Depreciation and amortization | $1,900 | $1,981 | | Litigation settlement | $— | $17,750 | | **Operating loss** | **$(5,349)** | **$(41,464)** | | **Net loss attributed to Douglas Elliman Inc.** | **$(5,985)** | **$(41,475)** | | **Per diluted common share** | **$(0.07)** | **$(0.50)** | [Non-GAAP Financial Measures](index=2&type=section&id=Non-GAAP%20Financial%20Measures) Douglas Elliman utilizes Non-GAAP financial measures, including Adjusted EBITDA and Adjusted Net Loss, to provide a supplementary view of its operating performance, unaffected by certain non-recurring or non-cash items. These measures show significant year-over-year improvements, reflecting the company's operational efficiency and strategic adjustments [Adjusted EBITDA](index=2&type=section&id=Adjusted%20EBITDA) Adjusted EBITDA attributed to Douglas Elliman Inc. swung to a positive $1.1 million in Q1 2025 from a loss of $17.6 million in Q1 2024, indicating a substantial improvement in operational profitability after adjustments for non-GAAP items Adjusted EBITDA (Q1 2025 vs Q1 2024) | Metric (in thousands) | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Net loss attributed to Douglas Elliman Inc. | $(5,985) | $(41,475) | | EBITDA | $(4,215) | $(39,885) | | Adjusted EBITDA attributed to Douglas Elliman Inc. | $1,108 | $(17,601) | [Adjusted Net Loss](index=2&type=section&id=Adjusted%20Net%20Loss) Adjusted Net Loss attributed to Douglas Elliman Inc. significantly decreased to $2.4 million, or $0.03 per diluted share, for Q1 2025, compared to $23.1 million, or $0.28 per diluted share, for Q1 2024, reflecting improved underlying profitability Adjusted Net Loss (Q1 2025 vs Q1 2024) | Metric (in thousands) | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Net loss attributed to Douglas Elliman Inc. | $(5,985) | $(41,475) | | Total adjustments | $3,588 | $18,395 | | Adjusted net loss attributed to Douglas Elliman Inc. | $(2,397) | $(23,080) | | Adjusted net loss per diluted common share | $(0.03) | $(0.28) | [Explanation of Non-GAAP Measures](index=2&type=section&id=Explanation%20of%20Non-GAAP%20Measures) Non-GAAP financial measures are presented to supplement GAAP results, offering investors and analysts a clearer view of operating performance by excluding certain non-cash or non-recurring items. Management uses these measures for internal assessment, but they should not be considered substitutes for GAAP measures - Purpose of Non-GAAP Measures: - Supplement discussion and analysis of results of operations - Enhance understanding of operating performance - Provide a useful measure of operating results unaffected by differences in capital structures and asset ages - Limitations: - Not prepared in accordance with GAAP - Should be considered in addition to, not as substitutes for or superior to, GAAP measures - Susceptible to varying calculations and may not be comparable to those of other companies[12](index=12&type=chunk)[13](index=13&type=chunk)[14](index=14&type=chunk) [Key Operational Metrics & Balance Sheet](index=2&type=section&id=Key%20Operational%20Metrics%20%26%20Balance%20Sheet) Douglas Elliman demonstrated strong operational performance in Q1 2025, marked by a significant increase in gross transaction value and a healthy cash position, reinforcing its market leadership and financial stability [Gross Transaction Value and Total Transactions](index=2&type=section&id=Gross%20Transaction%20Value%20and%20Total%20Transactions) Douglas Elliman Realty, LLC achieved a substantial increase in gross transaction value for Q1 2025, alongside an increase in total transactions, reflecting robust market activity and the company's strong presence Gross Transaction Value and Total Transactions (Q1 2025 vs Q1 2024) | Metric | Q1 2025 | Q1 2024 | YoY Change | | :--- | :--- | :--- | :--- | | Gross transaction value (in billions) | $9.9 | $7.1 | +39.4% | | Total transactions | 4,908 | 4,477 | +9.6% | | Average price per transaction | $2.0 million | N/A | N/A | [Consolidated Balance Sheet Highlights](index=2&type=section&id=Consolidated%20Balance%20Sheet%20Highlights) The company maintained a strong financial position with a significant amount of cash and cash equivalents at the end of the first quarter 2025 Cash and Cash Equivalents (as of March 31, 2025) | Metric | Amount | | :--- | :--- | | Cash and Cash Equivalents | $136.8 million | [Additional Information](index=2&type=section&id=Additional%20Information) [Conference Call Details](index=2&type=section&id=Conference%20Call%20Details) Douglas Elliman Inc. hosted a conference call and webcast to discuss its first quarter 2025 results, with replay options available for investors - Conference Call Details: - **Date:** Friday, May 2, 2025 - **Time:** 8:00 AM (ET) - **Live Webcast:** https://join.eventcastplus.com/eventcastplus/Douglas-Elliman-Inc-First-Quarter-2025-Earnings-Call - **Webcast Replay Availability:** May 2, 2025, through May 16, 2025, at the same link[10](index=10&type=chunk)[11](index=11&type=chunk) [About Douglas Elliman Inc.](index=2&type=section&id=About%20Douglas%20Elliman%20Inc.) Douglas Elliman Inc. is a leading residential brokerage company in the United States, operating across numerous states and offering a range of real estate services, including development marketing, property management, and investments in PropTech solutions - Company Overview: - **Core Business:** One of the largest residential brokerage companies in the U.S - **Geographic Presence:** Operations in New York City, Long Island, Westchester, Connecticut, New Jersey, the Hamptons, Massachusetts, Florida, California, Texas, Colorado, Nevada, Maryland, Virginia, Washington, D.C., Arizona, New Hampshire, and Michigan - **Other Services:** Development marketing, property management, settlement and escrow services - **Strategic Investments:** Sources, uses, and invests in early-stage, disruptive property technology ("PropTech") solutions and companies[15](index=15&type=chunk) [Forward-Looking and Cautionary Statements](index=3&type=section&id=Forward-Looking%20and%20Cautionary%20Statements) This section serves as a standard disclaimer, indicating that the press release contains forward-looking statements that are subject to inherent uncertainties and risks, and actual results may differ materially. The company does not undertake to update these statements publicly - Key aspects of Forward-Looking Statements: - All statements other than statements of historical or current facts are forward-looking - Identified by words or phrases such as "anticipate," "believe," "estimate," "expect," "intend," "may be," "continue," "could," "potential," "objective," "plan," "seek," "predict," "project" and "will be" and similar words or phrases or their negatives - Reflect current expectations and are inherently uncertain - Actual results could differ materially due to various risks and uncertainties described in the Annual Report on Form 10-K and Quarterly Report on Form 10-Q - The company undertakes no responsibility to publicly update or revise any forward-looking statement except as required by applicable law[17](index=17&type=chunk)[18](index=18&type=chunk) [Investor Communications](index=3&type=section&id=Investor%20Communications) Douglas Elliman encourages investors and the media to review information posted on its investor relations website and social media accounts, as these platforms may contain material information - Investors are encouraged to review information on: - Company website: investors.elliman.com - Company accounts on Facebook, Instagram, LinkedIn, TikTok, X, YouTube or other social media platforms - These postings or releases could include information deemed to be material information[16](index=16&type=chunk)

Core Insights - Douglas Elliman Realty has launched Elliman.com, a luxury lifestyle website featuring an AI-powered property search platform called Elliman Inspirations, aimed at enhancing the home discovery experience [1][2][3] Group 1: Digital Platform Features - Elliman Inspirations offers personalized property searches and a collaborative space for agents and clients, utilizing AI technology to monitor preferences and provide relevant suggestions [3][4] - The platform allows clients to search for properties using images, track favorite listings, and organize searches into personalized folders [6][4] - Real-time collaboration features enable agents and clients to share insights, build collections of listings, and enhance the overall search experience [6][4] Group 2: Lifestyle Integration - World of Elliman serves as a digital lifestyle hub, celebrating the unique passions and properties that inspire clients, thus redefining the real estate experience beyond mere transactions [2][7] - The platform aims to curate lifestyles that reflect personal achievements and global perspectives, merging luxury with purpose [7][8] - Exclusive publications and partnerships, such as those with Knight Frank Residential, provide insights into global trends among high-net-worth individuals, enhancing the content offered to clients [8][9] Group 3: Company Vision and Commitment - Douglas Elliman emphasizes innovation and entrepreneurship, aiming to transform the home search process into an immersive and tailored journey [3][4] - The company is committed to helping agents build meaningful connections with clients, enhancing the real estate journey through advanced technology and personalized service [4][9] - Douglas Elliman operates in multiple states across the U.S. and invests in disruptive property technology solutions, positioning itself as a leader in the luxury real estate market [9][1]