Douglas Elliman (US:DOUG)2025-11-04 11:45Revenue Performance - Douglas Elliman reported a 5% year-over-year revenue growth for the nine months ended September 30, 2025, with revenues of $787.6 million compared to $752.3 million for the same period in 2024[5]. - Total revenues for the three months ended September 30, 2025, were $262,838, slightly down from $266,316 in the same period of 2024, indicating a decrease of 1.8%[32]. Transaction Value - The company achieved a gross transaction value of approximately $30.1 billion for the nine months ended September 30, 2025, up from approximately $27.6 billion in the prior year[11]. - Gross transaction value for the last twelve months (LTM) as of September 30, 2025, was $38.9 billion, up from $36.4 billion for the year ended December 31, 2024, reflecting an increase of 6.9%[32]. - The average price per transaction for the nine months ended September 30, 2025, was $1.871 million, compared to $1.774 million for the same period in 2024[11]. - The company reported a total of 21,436 transactions for the last twelve months, slightly down from 21,781 transactions in the previous year[32]. Profitability and Losses - Adjusted EBITDA for the nine months ended September 30, 2025, was $2.9 million, a significant improvement from a loss of $12.4 million for the same period in 2024[8]. - The net loss attributed to Douglas Elliman for the nine months ended September 30, 2025, was $53.3 million, or $0.63 per diluted share, compared to a net loss of $70.3 million, or $0.84 per diluted share, in 2024[9]. - The company recorded an operating loss of $21.5 million for the nine months ended September 30, 2025, a reduction from an operating loss of $52.6 million in the same period of 2024[5]. - Adjusted Net Loss for the nine months ended September 30, 2025, was $6.9 million, or $0.08 per diluted share, compared to $26.3 million, or $0.32 per diluted share, for the same period in 2024[9]. - Net loss attributed to Douglas Elliman Inc. for the three months ended September 30, 2025, was $24,691, compared to a loss of $27,180 for the same period in 2024, representing a decrease of 5.4%[30]. - EBITDA for the three months ended September 30, 2025, was $(22,541), an improvement from $(25,641) in the same period of 2024, indicating a reduction in losses of 12.2%[32]. - Adjusted EBITDA attributed to Douglas Elliman Inc. for the three months ended September 30, 2025, was $(2,454), an improvement from $(17,783) in the same period of 2024[32]. Cash and Financial Position - Douglas Elliman's cash balance was approximately $126.5 million as of October 31, 2025, with no debt, providing financial strength for strategic initiatives[3]. Strategic Initiatives - The recent sale of Douglas Elliman Property Management is expected to result in an after-tax gain of approximately $75 million in Q4 2025, allowing the company to focus on its core residential real estate brokerage business[3]. - The company is pursuing international expansion into France and Monaco, alongside investments in AI to enhance agent and client experiences[3]. Brokerage Income - Commissions and other brokerage income for the three months ended September 30, 2025, totaled $250,354, compared to $254,074 in the same period of 2024, a decrease of 1.1%[32]. Litigation Expenses - The company incurred unusual litigation expenses of $5,755 for the three months ended September 30, 2025, compared to $3,774 in the same period of 2024, an increase of 52.4%[28]. Interest Expense - Interest expense for the three months ended September 30, 2025, was $1,573, compared to $1,461 in the same period of 2024, an increase of 7.6%[32].