| Metric | Value ($ M) | Q2 FY25 | Q3 FY24 |
|---|---|---|---|
| Revenue | 262.84 | 3.1% | 1.3% |
| Total Income | 262.84 | 3.1% | 1.3% |
| Expenditure | 273.49 | 1.2% | 0.1% |
| PBT | -24.93 | 10.2% | 9.2% |
| Net Profit | -24.69 | 8.9% | 9.2% |
| OPM | -4.05% | 2.01pp | 1.26pp |
| NPM | -9.39% | 1.04pp | 0.81pp |
| EPS | -0.29 | 7.4% | 12.1% |
Douglas Elliman Reports Q3 2025 Financial Results, Revenue at $262.8 Million
04 May 2026 · 4 May, 8:15 am
Summary
Douglas Elliman Inc. reported its financial results for the three and nine months ended September 30, 2025. The company experienced a 5% year-over-year revenue growth for the nine months ended September 30, 2025, reaching $787.6 million. There were significant improvements in Net Loss, Adjusted Net Loss, and Adjusted EBITDA. The company's cash balance was approximately $126.5 million as of October 31, 2025, with no debt.
Key Highlights
- 1
Douglas Elliman's revenue for the nine months ended September 30, 2025, increased by 5% year-over-year to $787.6 million.
- 2
The company's net loss attributed to Douglas Elliman improved to $53.3 million, or $0.63 per diluted common share, for the nine months ended September 30, 2025, compared to $70.3 million, or $0.84 per diluted common share, for the same period in 2024.
- 3
Adjusted EBITDA attributed to Douglas Elliman was $2.9 million for the nine months ended September 30, 2025, compared to a loss of $12.4 million for the nine months ended September 30, 2024.
- 4
Third quarter 2025 revenues were $262.8 million, compared to revenues of $266.3 million in the third quarter of 2024.
- 5
The company's operating loss for the nine months ended September 30, 2025, was $21.5 million, compared to $52.6 million for the nine months ended September 30, 2024.
- 6
Douglas Elliman Realty, LLC achieved gross transaction value of approximately $30.1 billion for the nine months ended September 30, 2025, compared to approximately $27.6 billion for the same period in 2024.
- 7
As of October 31, 2025, Douglas Elliman had a robust cash balance of approximately $126.5 million and no debt.
Management Comments
Michael S. Liebowitz
“We are emboldened by the momentum we’ve experienced in the first nine months of the year and believe we are strongly positioned for the future,” “The recent sale of Douglas Elliman Property Management, which we believe will result in an after-tax gain of approximately $75 million in the fourth quarter of 2025, sharpens our focus as the premier luxury, pure-play residential real estate brokerage and allows us to concentrate our resources on our core business. The strategic initiatives we have implemented in 2025 – including international expansion to France and Monaco, operational improvements, and investments in AI to elevate the agent and client experience – create a platform for accelerated growth and value creation as market conditions improve in 2026 and beyond.”
Bryant Kirkland
“Our 2025 initiatives are already producing tangible results: we increased revenue, significantly reduced operating losses, and improved Adjusted EBITDA compared to the first nine months of 2024. In October 2025, we further strengthened our financial position by redeeming our convertible notes, which eliminated the associated overhang on our common stock. With a robust cash balance of approximately $126.5 million as of October 31, 2025, and no debt, we believe we have the financial strength and flexibility to continue supporting our strategic priorities.”
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