Workflow
Douglas Elliman (DOUG) - 2025 Q1 - Quarterly Report
DOUGDouglas Elliman (DOUG)2025-05-06 12:40
Transcript

Financial Performance - Revenue for the three months ended March 31, 2025, was 253,403thousand,upfrom253,403 thousand, up from 200,239 thousand in the same period of 2024, reflecting a 53,164thousandincrease[145].−NetlossattributedtoDouglasEllimanInc.forthethreemonthsendedMarch31,2025,was53,164 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)thousandinthesameperiodof2024[145].−AdjustedEBITDAattributedtoDouglasEllimanforthelasttwelvemonthsendedMarch31,2025,was(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)thousandfortheyearendedDecember31,2024[141].−OperatinglossforthethreemonthsendedMarch31,2025,was(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)thousandinthesameperiodof2024[145].−Thecompanyreportedanetlossmarginof(3.89)(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 36.4billionfortheyearendedDecember31,2024[136].−Theaveragetransactionvaluepertransactionwas36.4 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 1,669.6thousandfortheyearendedDecember31,2024[136].AgentMetrics−Annualretentionrateforagentswas871,669.6 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 188,265inQ12024,representingagrowthof28.1188,265 in Q1 2024, representing a growth of 28.1% [146]. - Real estate agent commissions expense rose to 186,525 in Q1 2025, compared to 149,016inQ12024,markinganincreaseof149,016 in Q1 2024, marking an increase of 37,509 or 25.2% [149]. - Operating expenses totaled 258,752forQ12025,anincreaseof258,752 for Q1 2025, an increase of 17,049 from 241,703inQ12024[147].CashFlowandLiquidity−Cash,cashequivalents,andrestrictedcashincreasedby241,703 in Q1 2024 [147]. Cash Flow and Liquidity - Cash, cash equivalents, and restricted cash increased by 3,164 to 145,385inQ12025,comparedtoadecreaseof145,385 in Q1 2025, compared to a decrease of 29,449 in Q1 2024 [157]. - Cash used in operations decreased to 5,617inQ12025from5,617 in Q1 2025 from 27,291 in Q1 2024, reflecting improved operational efficiency [158]. - Cash provided by investing activities was 8,781inQ12025,comparedtocashusedof8,781 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].