Anywhere(HOUS)2025-04-29 11:32Financial Performance - Generated Revenue of 78 million (7%) year-over-year[5] - Reported Net Loss of 23 million year-over-year; Adjusted Net Loss of 21 million versus Q1 2024[5] - Total revenues for Q1 2025 were 1,126 million in Q1 2024, representing a 6.9% increase[27] - Gross commission income increased to 907 million in Q1 2024, a rise of 7.6%[27] - Net loss attributable to Anywhere was 101 million in Q1 2024[27] - Adjusted net loss attributable to Anywhere for Q1 2025 was 85 million in Q1 2024, reflecting a 24.7% reduction[29] - Total Company net revenues for the three months ended March 31, 2025, were 1,126 million in the same period of 2024[49] - Operating EBITDA for the Total Company was (13) million in the same period of 2024[49] Transaction Volume and Market Performance - Combined closed transaction volume increased 6% year-over-year, with units down about 4% and price up 11%[5] - Closed transaction volume for luxury brands increased approximately 16% year-over-year, significantly outperforming the market[5] - Closed homesale sides decreased by 5% to 137,089 in Q1 2025 from 144,775 in Q1 2024[37] - Closed homesale sides for Anywhere Brands - Franchise Group totaled 700,589 in 2024, with an average homesale price of 748,596 in 2024[40] - Average homesale price increased by 10% to 470,119 in Q1 2024[37] Cash Flow and Debt - Free Cash Flow of negative 145 million in 2024[5] - Cash and cash equivalents at the end of Q1 2025 were 118 million at the end of 2024[33] - Total corporate debt was 610 million in Q1 2025 from 105 million for Q1 2025, compared to (130) million, compared to 204 million in Q1 2025, up from 990 million in Q1 2025, an increase of 78 million, a 10% increase from 14 million in Q1 2025, on track to deliver 12 million in Q1 2025, compared to 32 million, with Q1 2024 accounting for $11 million of this total[59] Corporate Developments - The Company welcomed 11 new US franchisees and added two new international expansions in Q1 2025[5] Financial Metrics and Definitions - Operating EBITDA is presented as a supplemental measure to evaluate the performance of the company's operating businesses, providing greater transparency into results[71] - Adjusted net income (loss) is defined as net income (loss) before specific adjustments, including non-cash stock-based compensation and restructuring charges, to enhance transparency in operating results[73] - Free Cash Flow is defined as net income (loss) attributable to Anywhere before various expenses, and is used to evaluate operating effectiveness and resource allocation[74] - Free Cash Flow does not reflect changes in working capital needs or cash requirements for servicing debt, taxes, or future capital expenditures[75] - The company believes Operating EBITDA facilitates comparisons of operating performance across different companies by excluding non-core items[72] - Limitations of Operating EBITDA include its inability to reflect interest expense, income tax expense, and historical cash expenditures[75] - The company emphasizes that Free Cash Flow should not be considered in isolation or as an alternative to net income or other financial data prepared in accordance with GAAP[74] - Adjusted net income (loss) includes adjustments for legal contingencies and gains or losses on the sale of businesses, which are not related to normal operations[73] - The company uses Free Cash Flow as a measure of its ability to generate cash, which is critical for operational decisions[74] - Operating EBITDA should not be viewed as a substitute for net income or other GAAP measures, highlighting its limitations as an analytical tool[73]