DOUG

Shares of Douglas Elliman Inc. DOUG have gained 12.9% since the company reported its earnings for the quarter ended June 30, 2026. This compares with the S&P 500 Index’s 0.2% gain over the same time frame. Over the past month, the stock gained 9.2% compared with the S&P 500’s 2.1% rise. Douglas Elliman reported second-quarter 2026 revenues of $283.4 million, up 4.5% from $271.4 million a year earlier. Excluding the property management business disposed of in October 2025, revenues increased 8.6% from $260.9 million. Net loss narrowed to $2.7 million, or 3 cents per diluted share, from $22.7 million, or 27 cents per share, in the prior-year quarter. Commissions and other brokerage income increased 8.6% to $280.2 million from $258 million, while other ancillary services revenues rose 12.5% to $3.2 million. DOUG operates as a single reporting segment. Within brokerage, existing-home-sale revenues rose 7.4%, while Development Marketing revenues increased 29.3% year over year. Second-quarter gross transaction value increased 5.9% year over year to $10.8 billion from $10.2 billion, while total transactions rose 4.6% to 5,785 from 5,530. The average price per transaction edged up to $1.86 million from $1.84 million. For the six-month period, gross transaction value was $19.4 billion compared with $20.1 billion a year earlier, while the average transaction value was $1.90 million. DOUG also had a Development Marketing pipeline of $26.1 billion, including $18.9 billion in Florida, with another $9.7 billion scheduled to come to market through Sept. 30, 2027. Douglas Elliman ended June with $105.2 million of cash and cash equivalents and no long-term debt. Cash and cash equivalents subsequently increased to $121 million as of July 31, reflecting, in part, a net $13 million receipt from the settlement of a stockholder derivative action. Douglas Elliman Inc. price-consensus-eps-surprise-chart | Douglas Elliman Inc. Quote CEO Michael Liebowitz characterized the quarter as showing building momentum, pointing to cash receipts from existing-home sales that increased 15% in May and 16% in June from the respective prior-year periods. Management said luxury buyers appeared increasingly willing to look beyond elevated mortgage rates and the macroeconomic and geopolitical uncertainty seen earlier in 2026. July cash receipts from existing-home sales increased another 8% year over year. Weighted-average receipts for May through July increased 13%, led by Florida, the Hamptons, Texas, Nevada and Boston. Revenue growth was led by a $28.2 million increase in existing-home-sale revenues in Florida and a $3.4 million increase in the Northeast excluding New York City. Development Marketing revenues increased $4.2 million, driven by Florida and Texas. These gains were partly offset by decreases of $7.2 million in the West, primarily Colorado and California, and $6.5 million in New York City. Profitability also benefited from lower overhead. General and administrative expenses declined 32% to $17.8 million, helping the operating loss narrow to $3.4 million from $5.5 million. Adjusted EBITDA loss narrowed to $986,000 from $3.6 million. The sharp improvement in GAAP net loss also reflected the absence of a roughly $17 million noncash expense recorded a year earlier related to the fair value of derivatives embedded in convertible debt that was retired in October 2025. Douglas Elliman did not provide specific revenue or earnings guidance. Management said its AI transformation is expected to gradually generate significant savings in non-commission operating expenses over the next three years. The initiative includes a company-wide technology modernization using Google Cloud and the development of Elius, a proprietary real estate intelligence business. During the quarter, Douglas Elliman expanded into Paris, New Hampshire and Georgetown and launched Elliman Capital in California through a strategic relationship with Mark Cohen and Cohen Financial Group. Separately, effective Jan. 1, 2026, DOUG acquired the remaining ownership interest in Real Estate Associates of Houston LLC for $100,000, giving it full ownership. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Douglas Elliman Inc. (DOUG) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Interested in Douglas Elliman Inc.? Here are five stocks we like better. Second-quarter results improved: Revenue rose 4.4% year over year to $283.4 million, while the net loss narrowed to $2.7 million from $22.7 million. Excluding the divested property-management business, revenue increased 8.6%. Cash receipts showed renewed momentum: Existing-home-sale cash receipts increased 15% in May, 16% in June and 8% in July, with a three-month weighted average gain of 13%, led by several key markets including Florida, the Hamptons and Texas. Growth investments are expanding: Douglas Elliman launched an AI modernization program and its Elius data venture, expanded internationally into Paris, and grew its lending platform. The company expects meaningful technology-related cost savings beginning in 2027 and ended July with $121 million in cash. The Power Bill, the AI Dip, and the Date That Could Flip 2026 Stocks Douglas Elliman (NYSE:DOUG) reported second-quarter revenue growth and a substantially narrower net loss as the luxury real estate brokerage pointed to improving transaction-related cash receipts beginning in May. Revenue for the three months ended June 30, 2026, totaled $283.4 million, compared with $271.4 million a year earlier. Excluding revenue from the property management business that the company disposed of in October 2025, revenue rose 8.6% from $260.9 million in the prior-year quarter. → Meta’s Earnings Drop Shows Wall Street Wants More Than Ad Growth Realtor verdict, poor revenue guidance send Zillow stock plunging The company recorded a net loss of $2.7 million, or $0.03 per diluted share, compared with a net loss of $22.7 million, or $0.27 per diluted share, in the second quarter of 2025. The prior-year loss included $17 million in non-cash interest expense related to the decline in fair value of derivatives embedded in convertible debt that was retired in October 2025. Adjusted EBITDA was a loss of $986,000, improving from a $3.6 million loss a year earlier. Adjusted net loss was $3.9 million, or $0.05 per share, compared with $7.3 million, or $0.09 per share, in the 2025 quarter. → Sandisk Just Delivered a Blowout Quarter—Here's Why the Stock Is Falling CFO Bryant Kirkland said the company began seeing positive momentum in May, when cash receipts from existing-home sales increased 15% year over year. Cash receipts rose 16% in June and 8% in July from their respective 2025 levels. Across the three months from May through July, weighted average cash receipts from existing-home sales increased 13% from the comparable 2025 period, led by Florida, the Hamptons, Texas, Nevada and Boston, Kirkland said. → 4 Oil and Gas ETF Plays as Prices Stay Sky-High “Despite elevated mortgage rates, our luxury home buyers are beginning to look past the macroeconomic and geopolitical uncertainties that were present in early 2026,” Kirkland said. The company’s average price per transaction was approximately $1.9 million through the first six months of 2026, consistent with the prior-year period. Its last-12-month average price per transaction was $1.85 million, up from $1.77 million for the 12 months ended June 30, 2025. For the six months ended June 30, Douglas Elliman reported revenue of $497.8 million, down from $524.8 million a year earlier. Excluding the former property management operation, revenue declined 1.4% from $504.8 million in the 2025 period. Kirkland noted that the comparison was affected by an unusually strong first quarter in 2025. Net loss for the first half was $19 million, or $0.22 per diluted share, compared with a $28.7 million loss, or $0.34 per diluted share, a year earlier. The prior-year result included a $17.7 million non-cash charge associated with convertible debt that was retired in 2025. Adjusted EBITDA loss widened to $11.4 million for the six-month period from $4.5 million a year earlier. Adjusted net loss was $16.3 million, or $0.19 per share, compared with $11.6 million, or $0.14 per share, in the prior-year period. President and CEO Michael Liebowitz said Douglas Elliman launched an artificial intelligence transformation initiative during the period. The effort has two components: a company-wide modernization of its technology infrastructure using agentic AI powered by Google Cloud, and the development of Elius, a newly formed intelligence company intended to build products and potential new revenue streams from the brokerage’s proprietary luxury real estate data. Liebowitz said the Google Cloud program is intended to automate routine workflows and consolidate the company’s technology stack. The company expects the effort to begin gradually producing meaningful savings in non-commission operating expenses in 2027. Douglas Elliman expects to fund the initial Google Cloud rollout and Elius development work from existing resources, with what Liebowitz described as a modest net incremental investment because a substantial portion of the spending will replace existing technology expenditures. The company also expanded its international network into Paris in June, bringing its French network to 15 offices across France, Monaco and St. Barts. In the U.S., it launched Elliman Capital in California through a partnership with Mark Cohen and Cohen Financial Group, and expanded the lending platform into Texas, serving the Dallas-Fort Worth, Houston and Austin markets. The company’s development marketing division had approximately $26.1 billion in gross transaction value among actively marketed projects as of June 30, including about $18.9 billion in Florida. Douglas Elliman also cited another $9.7 billion in gross transaction value expected to come to market through September 2027. The company said commissions from these development projects are generally expected to be recognized when transactions close, with closings anticipated between 2026 and 2032. Douglas Elliman ended June with $105 million in cash and had $121 million in cash and cash equivalents as of July 31. The July increase included a net $13 million receipt from the settlement of a stockholder derivative action lawsuit. Liebowitz said the company’s cash position and recent trend in cash receipts leave it positioned for the second half of 2026 and beyond. Douglas Elliman (NYSE: DOUG) is one of the largest residential real estate brokerages in the United States, offering an array of services that span property sales, leasing and management. Founded in 1911 and headquartered in New York City, the firm has built a reputation for representing high-end residential properties and guiding clients through complex real estate transactions. Over the course of its history, Douglas Elliman has expanded its offerings to include specialized support for developers, investors and individual homeowners. The company's core business activities include residential brokerage, new development marketing, and property management. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Douglas Elliman Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for August 2026.

Douglas Elliman Inc. (NYSE:DOUG) reported a smaller adjusted loss for the second quarter on Friday as higher revenue, stronger transaction activity and continued operational improvements helped narrow losses compared with a year earlier. Shares rose around 1.7% in pre-market trading following the earnings release. The luxury real estate brokerage posted an adjusted loss of $0.05 per share, improving from a loss of $0.09 per share in the second quarter of 2025. Revenue increased 4.5% year over year to $283.4 million from $271.4 million. Excluding the divested property management business, comparable revenue rose 8.6%, increasing from $260.9 million in the prior-year quarter. Gross transaction value climbed 5.9% to $10.8 billion, reflecting continued activity in the luxury residential property market. Douglas Elliman continued to improve profitability during the quarter. Adjusted EBITDA loss narrowed to $1.0 million from $3.6 million a year earlier, while the company’s net loss attributable to shareholders declined to $2.7 million, or $0.03 per diluted share, compared with $22.7 million, or $0.27 per diluted share, in the same period last year. President and Chief Executive Officer Michael S. Liebowitz said, “Our second quarter top and bottom-line results reflect strong and building momentum: revenue grew 8.6% year over year on a comparable basis and cash receipts from existing home sales were up 15% and 16% in May and June, respectively, compared to the prior year periods.” The company ended the quarter with $105.2 million in cash and no long-term debt, maintaining a solid financial position. Its development marketing pipeline reached $26.1 billion, including $18.9 billion of projects in Florida. A further $9.7 billion of developments is expected to enter the market by the end of September 2027. Douglas Elliman also announced a new artificial intelligence transformation programme aimed at improving efficiency over the next three years. The initiative includes the development of Elius, a proprietary real estate intelligence platform built using Google Cloud technology. Management expects the programme to reshape the company’s non-commission cost base over time. The brokerage also continued expanding internationally, increasing its French network to 15 offices with the opening of a new location in Paris. In addition, its Elliman Capital lending platform was extended into California and Texas. Douglas Elliman stock price

Second Quarter Revenues up 4.5% Year over Year (8.6% YoY on Comparable Basis); Operating Loss Narrows to $3.4M; Net Loss Narrows to $2.7M Second Quarter Gross Transaction Value up 5.9% YoY to $10.8B; Adjusted EBITDA Loss Narrows to $1.0M from $3.6M Cash of $105.2M and No Long-Term Debt as of June 30, 2026; Development Marketing Pipeline of $26.1B Launches AI Transformation including Development of Proprietary Real Estate Intelligence Business French Network Grows to 15 Offices with Opening of Paris Office Elliman Capital Expands to California and Texas MIAMI, August 07, 2026--(BUSINESS WIRE)--Douglas Elliman Inc. ("Douglas Elliman" or the "Company") (NYSE: DOUG), the parent company of Douglas Elliman Realty, one of the nation's premier luxury residential real estate brokerages, today announced financial results for the three and six months ended June 30, 2026. CEO STATEMENT"Our second quarter top and bottom-line results reflect strong and building momentum: revenue grew 8.6% year over year on a comparable basis and cash receipts from existing home sales were up 15% and 16% in May and June, respectively, compared to the prior year periods," said Michael S. Liebowitz, President and Chief Executive Officer of Douglas Elliman Inc. "With no long-term debt and more than $100 million in cash, we are operating from a position of financial strength. We made excellent progress during the quarter on the strategic initiatives that will define Douglas Elliman's future — technology, talent, capital, and geography. Through our AI transformation we are actively seeking to reshape our cost structure with a dedicated AI team already on the ground. We believe this transformation will be a meaningful driver of margin improvement over time. Our team is energized and laser-focused on creating value for all of our stakeholders." Q2 2026 FINANCIAL HIGHLIGHTS Three months ended June 30, 2026 Second quarter 2026 revenues were $283.4 million, compared to revenues of $271.4 million in the second quarter of 2025. The Company disposed of its property management business in October 2025 and, excluding property management revenues, revenues were $260.9 million in the second quarter of 2025. The Company recorded an operating loss of $3.4 million in the second quarter of 2026, compared to an operating loss of $5.5 million in the second quarter of 2025. Net loss attributed to Douglas Elliman Inc. in the second quarter of 2026 was $2.7 million, or $0.03 per diluted common share, compared to $22.7 million, or $0.27 per diluted common share, in the second quarter of 2025. Six months ended June 30, 2026 For the six months ended June 30, 2026, revenues were $497.8 million, compared to revenues of $524.8 million for the six months ended June 30, 2025. Excluding property management revenues, revenues were $504.8 million for the six months ended June 30, 2025. Although the Company had a strong revenue performance in the second quarter of 2026, the year-over-year comparison of revenues was also impacted by a difficult comparable due to an unusually strong first quarter of 2025. The Company recorded an operating loss of $20.9 million for the six months ended June 30, 2026, compared to an operating loss of $10.9 million for the six months ended June 30, 2025. Net loss attributed to Douglas Elliman Inc. for the six months ended June 30, 2026 was $19.0 million, or $0.22 per diluted common share, compared to $28.7 million, or $0.34 per diluted common share, for the six months ended June 30, 2025. NON-GAAP FINANCIAL MEASURES Reconciliations of non-GAAP financial measures to the most directly comparable GAAP financial results for the three and six months ended June 30, 2026 and 2025 are included in Tables 2 and 3, and for the last twelve months ("LTM") ended June 30, 2026 and year ended December 31, 2025 are included in Table 2. Three months ended June 30, 2026 compared to the three months ended June 30, 2025 Adjusted EBITDA attributed to Douglas Elliman Inc. (as described in Table 2 attached hereto) was a loss of $1.0 million for the second quarter of 2026, compared to a loss of $3.6 million for the second quarter of 2025. Adjusted Net Loss attributed to Douglas Elliman Inc. (as described in Table 3 attached hereto) was $3.9 million or $0.05 per diluted share, for the second quarter of 2026, compared to $7.3 million or $0.09 per diluted share, for the second quarter of 2025. Six months ended June 30, 2026 compared to the six months ended June 30, 2025 Adjusted EBITDA attributed to Douglas Elliman Inc. (as described in Table 2 attached hereto) was a loss of $11.4 million for the six months ended June 30, 2026, compared to a loss of $4.5 million for the six months ended June 30, 2025. Adjusted Net Loss attributed to Douglas Elliman Inc. (as described in Table 3 attached hereto) was $16.3 million or $0.19 per diluted share, for the six months ended June 30, 2026, compared to $11.6 million or $0.14 per diluted share, for the six months ended June 30, 2025. GROSS TRANSACTION VALUE For the second quarter of 2026, the Company achieved gross transaction value of approximately $10.8 billion with an average price per transaction of $1.86 million. For the second quarter of 2025, the Company achieved gross transaction value of approximately $10.2 billion with an average price per transaction of $1.84 million. For the six months ended June 30, 2026, the Company achieved gross transaction value of approximately $19.4 billion with an average price per transaction of $1.90 million. For the six months ended June 30, 2025, the Company achieved gross transaction value of approximately $20.1 billion with an average price per transaction of $1.92 million. BALANCE SHEET AND CAPITAL POSITION Douglas Elliman maintained a robust balance sheet as of June 30, 2026, with cash and cash equivalents of approximately $105.2 million and no long-term debt. This financial profile affords the Company significant strategic flexibility to pursue organic growth, accretive talent acquisition, technology investment, and opportunistic market expansion initiatives. OUTLOOK The Company enters the second half of 2026 with a strengthened foundation: a strong capital position, a development marketing pipeline of approximately $26.1 billion (including $18.9 billion in Florida alone) with another $9.7 billion scheduled to come to market through September 30, 2027 and an AI transformation that is underway and that is expected to gradually lead to significant savings in non-commission operating expenses over the next three years. Douglas Elliman remains focused on maintaining leadership in luxury residential real estate through superior agent talent, global market presence, and a brand that commands the industry's highest average sales price. Management is executing against this objective with discipline and believes the platform is now well positioned to deliver long-term stockholder value. STRATEGIC GROWTH INITIATIVES Douglas Elliman sees opportunities to extend the Company's luxury leadership and accelerate long-term stockholder value creation. Technology and AI Investment Douglas Elliman recently announced the launch of a company-wide technology infrastructure transformation to support its evolution into a technology-forward real estate brokerage. The effort is designed to fundamentally change how Douglas Elliman operates to improve efficiency, enhance the agent advisor and client experience, and reshape its long-term cost structure. Concurrently, the Company is launching Elius, a newly formed intelligence company positioned to build proprietary real estate intelligence capabilities beyond traditional brokerage. Elius is designed to power a new generation of intelligent real estate experiences, products, and services that move beyond today's search and portal-based models by anticipating opportunities, surfacing insights earlier, and delivering guidance that today's static platforms cannot. The transformation follows two parallel tracks to reset Douglas Elliman's non-commission-based cost structure across business units while building a proprietary intelligence business under the name Elius. Both tracks are enabled by Google Cloud technology, including its AI models and enterprise infrastructure, which the Company has selected to power its transformation. Footprint Expansion and Talent Recruitment Since 2025, Douglas Elliman entered new international markets in Canada, France, Monaco, and the Caribbean, extending the Company's geographic reach to serve affluent and ultra-high-net-worth clients across the world's most coveted luxury real estate destinations. Most recently, in June, the Company expanded into Paris, bringing its French network to fifteen offices across France, Monaco, and Saint-Barthélemy. In addition, Douglas Elliman continues to extend its domestic footprint across several luxury markets. In the second quarter, the Company expanded into New Hampshire and opened a new Georgetown office — its fourth in the Mid-Atlantic region. The Company also added high level agents in key markets during the quarter and continues to have a strong recruiting pipeline. Elliman Capital Elliman Capital continued to expand in the second quarter. In May, the Company launched in California through a strategic relationship with Mark Cohen and Cohen Financial Group, bringing a full suite of lending solutions to agents and clients across Greater Los Angeles. In July, the platform extended into Texas, with dedicated loan officers serving agents across Dallas-Fort Worth, Houston, and Austin. Conference Call to Discuss Second Quarter 2026 Results As previously announced, the Company will host a conference call and webcast to discuss its second quarter 2026 results on Friday, August 7, 2026 at 8:00 a.m. (ET). Investors may access the call via live webcast at https://join.eventcastplus.com/eventcastplus/douglas-elliman-second-quarter-earnings-call. Please join the webcast at least 10 minutes prior to the start time. A replay of the call will be available shortly after the call ends on August 7, 2026 through August 21, 2026 at https://join.eventcastplus.com/eventcastplus/douglas-elliman-second-quarter-earnings-call. NON-GAAP FINANCIAL MEASURES Adjusted EBITDA attributed to Douglas Elliman Inc., Adjusted Net Loss attributed to Douglas Elliman Inc. and financial measures for the last twelve months ("LTM") ended June 30, 2026 (referred to as the "Non-GAAP Financial Measures") are financial measures not prepared in accordance with generally accepted accounting principles ("GAAP"). The Company believes that the Non-GAAP Financial Measures are important measures that supplement discussion and analysis of its results of operations and enhance an understanding of its operating performance. The Company believes the Non-GAAP Financial Measures provide investors and analysts with a useful measure of operating results unaffected by differences in capital structures and ages of related assets among otherwise comparable companies. Management uses the Non-GAAP Financial Measures as measures to review and assess the operating performance of the Company’s business, and management does, and investors should review both the overall performance (GAAP net income (loss)) and the operating performance (the Non-GAAP Financial Measures) of the Company’s business. While management considers the Non-GAAP Financial Measures to be important, they should be considered in addition to, but not as substitutes for or superior to, other measures of financial performance prepared in accordance with GAAP, such as operating income (loss), net income (loss) and cash flows from operations. In addition, the Non-GAAP Financial Measures are susceptible to varying calculations and the Company’s measurement of the Non-GAAP Financial Measures may not be comparable to those of other companies. Attached hereto as Tables 2 and 3 is information relating to the Company’s Non-GAAP Financial Measures for the three and six months ended June 30, 2026 and 2025, the LTM ended June 30, 2026 and the year ended December 31, 2025. About Douglas Elliman Inc. Douglas Elliman Inc. (NYSE: DOUG, "Douglas Elliman") owns Douglas Elliman Realty, LLC, which is one of the largest residential brokerage companies in the United States with operations in New York City, Long Island, the Hamptons, Westchester, Connecticut, New Jersey, Massachusetts, New Hampshire, Florida, California, Texas, Colorado, Nevada, Maryland, Virginia, and Washington, D.C. In addition, Douglas Elliman provides other real estate services, including development marketing, mortgage as well as settlement and escrow services in select markets, and uses as well as invests in early-stage, disruptive property technology solutions and companies. Additional information concerning Douglas Elliman is available on its website, investors.elliman.com. Investors and others should note that we may post information about Douglas Elliman on our website at investors.elliman.com or, if applicable, on our accounts on Facebook, Instagram, LinkedIn, TikTok, X, YouTube or other social media platforms. It is possible that the postings or releases could include information deemed to be material information. Therefore, we encourage investors, the media and others interested in Douglas Elliman to review the information we post on our website at investors.elliman.com and on our social media accounts. Forward-Looking and Cautionary Statements This press release includes forward-looking statements within the meaning of the federal securities law. All statements other than statements of historical or current facts made in this press release are forward-looking. We identify forward-looking statements in this press release by using 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. Forward-looking statements reflect our current expectations and are inherently uncertain. Actual results could differ materially for a variety of reasons. Risks and uncertainties that could cause our actual results to differ significantly from our current expectations are described in our Annual Report on Form 10-K for the year ended December 31, 2025 and, when filed, our Quarterly Reports on Form 10-Q filed thereafter. We undertake no responsibility to publicly update or revise any forward-looking statement except as required by applicable law. [Financial Tables Follow] View source version on businesswire.com: https://www.businesswire.com/news/home/20260806877876/en/ Contacts Stephen Larkin, Douglas Elliman Inc.917-902-2503Catherine Livingston, FGS Global212-687-8080J. Bryant Kirkland III, Douglas Elliman Inc.305-579-8000

This article first appeared on GuruFocus. Revenue: $283.4 million in Q2 2026, up from $271.4 million in Q2 2025. Excluding the disposed property management business, revenue increased 8.6% year-over-year. Net Loss: Narrowed to $2.7 million, or $0.03 per diluted share, in Q2 2026 from a net loss of $22.7 million, or $0.27 per diluted share, in the prior-year period. Adjusted EBITDA: Loss of $986,000 in Q2 2026, improved from a loss of $3.6 million in Q2 2025. Adjusted Net Loss: $3.9 million, or $0.05 per share, in Q2 2026, compared to an adjusted net loss of $7.3 million, or $0.09 per share, in Q2 2025. Six-Month Revenue: $497.8 million for the six months ended June 30, 2026, down from $524.8 million in the prior-year period. Excluding property management, revenue declined 1.4%. Six-Month Net Loss: $19 million, or $0.22 per diluted share, compared to a net loss of $28.7 million, or $0.34 per diluted share, in the 2025 period. Six-Month Adjusted EBITDA: Loss of $11.4 million, compared to a loss of $4.5 million in the prior-year period. Six-Month Adjusted Net Loss: $16.3 million, or $0.19 per share, compared to $11.6 million, or $0.14 per share, in the 2025 period. Cash Position: $105 million in cash at June 30, 2026, and $121 million in cash and cash equivalents at July 31, 2026, with no long-term debt. Cash Receipts: Existing home sales cash receipts up 15% and 16% year-over-year in May and June 2026, respectively, and up 8% in July 2026. Average Price per Transaction: Approximately $1.9 million per home sale for the six months ended June 30, 2026, consistent with the prior-year period. Development Marketing Pipeline: Approximately $26.1 billion in gross transaction value of actively marketed projects, with an additional $9.7 billion coming to market through September 2027. Warning! GuruFocus has detected 4 Warning Signs with DOUG. Is DOUG fairly valued? Test your thesis with our free DCF calculator. Release Date: August 07, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Douglas Elliman Inc (NYSE:DOUG) reported a significant narrowing of net loss in Q2 2026 to $2.7 million from $22.7 million in the prior-year period, driven by improved operational performance and the absence of non-cash interest expenses. The company saw a strong rebound in existing home sales cash receipts, with May and June 2026 up 15% and 16% year-over-year, respectively, and July 2026 up 8%, indicating improving market momentum. Douglas Elliman Inc (NYSE:DOUG) maintains a robust balance sheet with no long-term debt and over $100 million in cash, providing financial flexibility to fund strategic initiatives. The company is executing a transformative AI strategy, including the launch of 'Elias' to monetize proprietary luxury real estate data and a Google Cloud partnership to automate workflows and reduce non-commissioned operating expenses starting in 2027. International expansion is progressing, with a new office in Paris and the extension of Element Capital into California and Texas, broadening the company's revenue streams beyond traditional brokerage commissions. The development marketing division has a strong pipeline of approximately $26.1 billion in gross transaction value, with an additional $9.7 billion expected to come to market by September 2027, positioning for future commission income. Douglas Elliman Inc (NYSE:DOUG) still reported an adjusted EBITDA loss of $986,000 in Q2 2026, indicating ongoing operational challenges despite improvement. For the six months ended June 30, 2026, revenues declined by 1.4% year-over-year, and adjusted EBITDA loss widened to $11.4 million from $4.5 million in the prior-year period, reflecting a difficult first quarter. The company's AI transformation and international expansion require significant investment, with only modest net incremental savings expected initially, which could pressure near-term profitability. Elevated mortgage rates and macroeconomic uncertainties continue to weigh on the housing market, as evidenced by the slower start to 2026 and the need for a rebound in May and June. The company's net loss for the first half of 2026 was $19 million, and adjusted net loss per share was $0.19, indicating that profitability remains elusive. The reliance on luxury homebuyers, who are beginning to look past uncertainties, may not be sustainable if economic conditions deteriorate, posing a risk to future revenue growth. Q: What is the company's AI transformation strategy, and how will it impact operations and finances?A: Michael Liebowitz (President and CEO) explained that the AI transformation is a fundamental redesign of operations, not just a technology upgrade. It operates on two tracks: a company-wide modernization using agentic AI powered by Google Cloud to automate workflows and achieve meaningful savings in non-commissioned operating expenses starting in 2027, and the build-out of Elias, a new intelligence company designed to monetize proprietary luxury real estate data into new products and revenue streams. The initiative is self-funded from a position of financial strength with no long-term debt and over $100 million in cash. Q: What were the key financial results for the second quarter of 2026?A: Bryant Kirkland (CFO) reported revenues of $283.4 million, up from $271.4 million in Q2 2025. Excluding the disposed property management business, revenues increased 8.6% year-over-year. Net loss narrowed significantly to $2.7 million ($0.03 per share) from $22.7 million ($0.27 per share) in the prior year period, which had included a $17 million non-cash interest expense. Adjusted EBITDA loss improved to $986,000 from a $3.6 million loss, and adjusted net loss was $3.9 million ($0.05 per share) versus $7.3 million ($0.09 per share) in 2025. Q: How is the company's cash position and balance sheet strength supporting its growth plans?A: Bryant Kirkland (CFO) highlighted that the company had $105 million in cash at June 30, 2026, and $121 million at July 31, 2026, following a $13 million net receipt from a stockholder derivative action lawsuit settlement. This strong balance sheet, with no long-term debt, provides a competitive advantage to fund the AI transformation, scale operations, and strengthen the services platform without external financing. Q: What is the current trend in home sales and market momentum?A: Bryant Kirkland (CFO) noted that beginning in May 2026, the company saw positive momentum with cash receipts from existing home sales up 15% and 16% in May and June, respectively, compared to the prior year. This momentum continued into July with an 8% increase. The weighted average increase for May through July was 13%, led by Florida, the Hamptons, Texas, Nevada, and Boston, indicating luxury homebuyers are looking past macroeconomic uncertainties despite elevated mortgage rates. Q: What is the status of the company's international expansion and Element Capital growth?A: Michael Liebowitz (President and CEO) detailed the June expansion into Paris, bringing the French network to 15 offices across France, Monaco, and St. Barts. Additionally, Element Capital launched in California in May through a partnership with Mark Cohn and Cohn Financial Group, and extended into Texas in June with dedicated teams serving Dallas-Fort Worth, Houston, and Austin. These expansions deepen client relationships and create revenue opportunities beyond commissions. Q: What is the size and outlook for the development marketing division?A: Bryant Kirkland (CFO) stated that the development marketing division remains the preeminent industry player with an actively marketed project pipeline of approximately $26.1 billion in gross transaction value, with $18.9 billion in Florida alone. An additional $9.7 billion in gross transaction value is expected to come to market through September 2027. Commission income from these projects is generally expected to be recognized between 2026 and 2032. Q: How did the first half of 2026 compare to the prior year, and what were the key drivers?A: Bryant Kirkland (CFO) reported that for the six months ended June 30, 2026, revenues were $497.8 million, down 1.4% from $504.8 million in the 2025 period, which was impacted by an unusually strong first quarter of 2025. Net loss improved to $19 million ($0.22 per share) from $28.7 million ($0.34 per share) in 2025, which included a $17.7 million non-cash charge. Adjusted EBITDA loss was $11.4 million versus a $4.5 million loss in 2025, and adjusted net loss was $16.3 million ($0.19 per share) compared to $11.6 million ($0.14 per share). Q: What is the average price per transaction, and how does it reflect the company's luxury positioning?A: Bryant Kirkland (CFO) noted that the industry-best average price per transaction for the six months ended June 30, 2026, was consistent with the 2025 year-to-date period at approximately $1.9 million per home sale. For the last 12 months, the average price per transaction was $1.85 million, up from $1.77 million for the 12 months ended June 2025, reinforcing the company's focus on the luxury market segment. Q: What recent talent and market expansion achievements have been made?A: Michael Liebowitz (President and CEO) highlighted the addition of a Georgetown office (the fourth in the Mid-Atlantic), expansion into New Hampshire, and high-level agent recruitment in key markets. Additionally, 29 Douglas Elliman agents and teams were recognized in the Real Trends Verified Plus the Thousand rankings across California, Colorado, Florida, Massachusetts, the Hamptons, and New York City, demonstrating the firm's continued appeal as a destination for top luxury agents. Q: How is the company funding the AI transformation and Elias development?A: Michael Liebowitz (President and CEO) clarified that the initial Google Cloud rollout and Elias discovery and development work will be funded through existing resources with a modest net incremental investment, as a substantial portion of the spending replaces existing technology expenditures. This disciplined, self-funded approach ensures the company can pursue its transformation without taking on additional debt or diluting shareholders. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. Launched a fundamental AI transformation to shift from transaction-oriented brokerage to a data-monetization model, reclaiming value previously captured by third-party portals. Established Elius, a new intelligence company designed to leverage proprietary luxury real estate data to create new revenue streams and products beyond traditional brokerage. Executing a technology infrastructure modernization using Google Cloud to automate workflows and consolidate the tech stack, targeting meaningful non-commission expense savings starting in 2027. Expanded the international footprint into Paris, bringing the French network to 15 offices to capture demand in highly coveted global residential markets. Deepened client relationships and diversified revenue through the expansion of Elliman Capital lending solutions into California and Texas markets. Maintained a premium market position with an industry-leading average price per transaction of approximately $1.9 million for the first half of 2026. Anticipates a gradual reduction in non-commission operating expenses beginning in 2027 as the AI-driven technology modernization matures. Expects to recognize significant commission income between 2026 and 2032 from a $26.1 billion development marketing pipeline, including $18.9 billion in Florida alone. Projects that an additional $9.7 billion of gross transaction value will come to market through September 2027, providing a foundation for future revenue. Assumes the AI transformation and Elius development will be largely self-funded by replacing existing technology expenditures with modest net incremental investment. Management observes that luxury homebuyers are beginning to look past macroeconomic and geopolitical uncertainties despite elevated mortgage rates. One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here. Reported a strong liquidity position with $121 million in cash and cash equivalents as of July 31, 2026, providing a competitive advantage for strategic investments. Cash balance in July 2026 was bolstered by a $13 million net receipt from the settlement of a stockholder derivative action lawsuit. Year-over-year comparisons for the six-month period were impacted by a difficult comparable against an unusually strong first quarter in 2025. The company successfully retired its convertible debt in October 2025, eliminating associated non-cash interest expense volatility seen in prior periods.

Company advances strategic priorities with new market entries, platform expansion and brokerage leadership appointments Positioned for long-term growth as a leaner, more powerful platform built for luxury MIAMI, May 08, 2026--(BUSINESS WIRE)--Douglas Elliman Inc. ("Douglas Elliman" or the "Company") (NYSE: DOUG) the parent company of Douglas Elliman Realty, one of the nation's premier luxury residential real estate brokerages, today announced financial results for the three months ended March 31, 2026. CEO STATEMENT "We continue to execute our disciplined, long-term strategy as the premier, pure-play luxury residential real estate brokerage, and we remain confident in the platform we have built," said Michael S. Liebowitz, President and Chief Executive Officer of Douglas Elliman Inc. "Through disciplined expense management and meaningful investment in technology, talent, and geography, we have created a leaner, more powerful platform engineered for strategic growth – as demonstrated by the additions at Douglas Elliman Realty of Lena Johnson as President of Brokerage Operations and Areeje Oriol as Chief of Staff." Mr. Liebowitz continued, "The momentum we are seeing across recruitment and the broader competitive landscape gives me greater confidence in the Company's trajectory than at any point in my tenure. As others in our industry navigate consolidation, we remain singularly focused on building the preeminent luxury residential real estate platform in the world – and, with the strength of our balance sheet, we are well-positioned to drive long-term growth and stockholder value as market conditions improve." Q1 2026 FINANCIAL HIGHLIGHTS First quarter 2026 revenues were $214.3 million, compared to revenues of $253.4 million in the first quarter of 2025. The year-over-year comparison of revenues was impacted by a difficult comparable due to an unusually strong first quarter of 2025 and the October 2025 disposition of Douglas Elliman Property Management, which contributed $9.5 million to first quarter 2025 revenue. Excluding property management revenues, our revenues were $243.9 million for the first quarter of 2025. The Company recorded an operating loss of $17.5 million in the first quarter of 2026, compared to $5.3 million in the first quarter of 2025. Net loss attributed to Douglas Elliman in the first quarter of 2026 was $16.3 million, or $0.19 per diluted common share, compared to $6.0 million, or $0.07 per diluted common share, in the first quarter of 2025. NON-GAAP FINANCIAL MEASURES Reconciliations of non-GAAP financial measures to the most directly comparable GAAP financial results for the three months ended March 31, 2026 and 2025 are included in Tables 2 and 3, and for the last twelve months ("LTM") ended March 31, 2026 and year ended December 31, 2025 are included in Table 2. Adjusted EBITDA attributed to Douglas Elliman (as described in Table 2 attached hereto) was a loss of $10.4 million for the first quarter of 2026, compared to a loss of $0.9 million in the first quarter of 2025. Adjusted Net Loss attributed to Douglas Elliman (as described in Table 3 attached hereto) was $12.4 million or $0.14 per diluted share, for the first quarter of 2026, compared to $4.3 million or $0.05 per diluted share, for the first quarter of 2025. GROSS TRANSACTION VALUE For the three months ended March 31, 2026, the Company achieved gross transaction value of approximately $8.6 billion with an average price per transaction of $1.96 million - a figure that management believes affirms Douglas Elliman's position at the top of the luxury residential market and its distinction as the highest average sales price brokerage among the top 10 national brokerages in the United States. For the three months ended March 31, 2025, the Company achieved gross transaction value of approximately $9.9 billion with an average price per transaction of $2.02 million. BALANCE SHEET AND CAPITAL POSITION Douglas Elliman maintained a robust balance sheet as of March 31, 2026, with cash and cash equivalents of approximately $96.0 million and no long-term debt. This financial profile affords the Company significant strategic flexibility to pursue organic growth, accretive talent acquisition, technology investment, and opportunistic market expansion initiatives. OUTLOOK The Company enters the second quarter of 2026 with a strengthened foundation: a strong capital position, a development marketing pipeline of approximately $27.2 billion (including $19.5 billion in Florida alone) with another $8.4 billion scheduled to come to market through March 31, 2027, and key brokerage leadership appointments now in place. While first quarter 2026 revenues declined year-over-year against a particularly strong prior-year quarter, they exceeded first quarter revenues in both 2024 and 2023, reflecting the positive underlying trajectory of the business. The cost discipline actions taken throughout 2025, international and domestic footprint expansion, and the continued investment in technology and brand all contribute to what management believes is a compelling foundation for accelerated growth as market conditions normalize. Douglas Elliman remains focused on maintaining leadership in luxury residential real estate through superior agent talent, global market presence, and a brand that commands the industry's highest average sales price. Management is executing against this objective with discipline and believes the platform is now well positioned to deliver long-term stockholder value. STRATEGIC GROWTH INITIATIVES Douglas Elliman sees opportunities to extend the Company's luxury leadership and accelerate long-term stockholder value creation. Footprint Expansion Since 2025, Douglas Elliman entered new international markets in Canada, France, Monaco, and the Caribbean. These markets extend the Company's geographic reach to serve affluent and ultra-high-net-worth clients across global luxury real estate locations. In addition, Douglas Elliman continues to extend its domestic footprint across several high-value and coveted luxury markets, including the California Wine Country, Richmond, Virginia and Rye, New York. Together these expansions reflect the Company's disciplined, opportunity-driven approach to market growth and its commitment to planting the Douglas Elliman flag in markets where luxury demand is rising. Technology and AI Investment Douglas Elliman continued its disciplined investment in technology during the first quarter, with a focused and strategic build-out of tools designed to elevate the agent and client experience by continuing to refine Elli Ai, Douglas Elliman’s AI agent assistant, as well as the development of a new agent mobile app that will serve as a single source of entry for agent productivity, consolidating the tools and information agents need into one seamless platform. LUXURY LEADERSHIP AND MARKET POSITION As a pure-play luxury residential real estate brokerage, Douglas Elliman serves a distinct segment of the market. With the highest average sales price among the top 10 national brokerages, the Company's brand, agent network, and transaction expertise are focused on the luxury and ultra-luxury segments, which have historically demonstrated resilience across varying market conditions. The 2026 RealTrends Brokerage Rankings, which place Douglas Elliman among the top 10 brokerages in the nation in Gross Transaction Value, reflect the strength of Douglas Elliman's luxury platform. NON-GAAP FINANCIAL MEASURES Adjusted EBITDA attributed to Douglas Elliman, Adjusted Net Loss attributed to Douglas Elliman and financial measures for the last twelve months ("LTM") ended March 31, 2026 (referred to as the "Non-GAAP Financial Measures") are financial measures not prepared in accordance with generally accepted accounting principles ("GAAP"). The Company believes that the Non-GAAP Financial Measures are important measures that supplement discussion and analysis of its results of operations and enhance an understanding of its operating performance. The Company believes the Non-GAAP Financial Measures provide investors and analysts with a useful measure of operating results unaffected by differences in capital structures and ages of related assets among otherwise comparable companies. Management uses the Non-GAAP Financial Measures as measures to review and assess the operating performance of the Company’s business, and management does, and investors should review both the overall performance (GAAP net income (loss)) and the operating performance (the Non-GAAP Financial Measures) of the Company’s business. While management considers the Non-GAAP Financial Measures to be important, they should be considered in addition to, but not as substitutes for or superior to, other measures of financial performance prepared in accordance with GAAP, such as operating income (loss), net income (loss) and cash flows from operations. In addition, the Non-GAAP Financial Measures are susceptible to varying calculations and the Company’s measurement of the Non-GAAP Financial Measures may not be comparable to those of other companies. Attached hereto as Tables 2 and 3 is information relating to the Company’s Non-GAAP Financial Measures for the three months ended March 31, 2026 and 2025, the LTM ended March 31, 2026 and the year ended December 31, 2025. About Douglas Elliman Inc. Douglas Elliman Inc. (NYSE: DOUG, "Douglas Elliman") owns Douglas Elliman Realty, LLC, which is one of the largest residential brokerage companies in the United States with operations in New York City, Long Island, the Hamptons, Westchester, Connecticut, New Jersey, Massachusetts, Florida, California, Texas, Colorado, Nevada, Maryland, Virginia, and Washington, D.C. In addition, Douglas Elliman provides other real estate services, including development marketing, mortgage as well as settlement and escrow services in select markets, and uses as well as invests in early-stage, disruptive property technology solutions and companies. Additional information concerning Douglas Elliman is available on its website, investors.elliman.com. Investors and others should note that we may post information about Douglas Elliman on our website at investors.elliman.com or, if applicable, on our accounts on Facebook, Instagram, LinkedIn, TikTok, X, YouTube or other social media platforms. It is possible that the postings or releases could include information deemed to be material information. Therefore, we encourage investors, the media and others interested in Douglas Elliman to review the information we post on our website at investors.elliman.com and on our social media accounts. Forward-Looking and Cautionary Statements This press release includes forward-looking statements within the meaning of the federal securities law. All statements other than statements of historical or current facts made in this press release are forward-looking. We identify forward-looking statements in this press release by using 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. Forward-looking statements reflect our current expectations and are inherently uncertain. Actual results could differ materially for a variety of reasons. Risks and uncertainties that could cause our actual results to differ significantly from our current expectations are described in our Annual Report on Form 10-K for the year ended December 31, 2025 and, when filed, our Quarterly Reports on Form 10-Q filed thereafter. We undertake no responsibility to publicly update or revise any forward-looking statement except as required by applicable law. View source version on businesswire.com: https://www.businesswire.com/news/home/20260508090853/en/ Contacts Stephen Larkin, Douglas Elliman Inc. 917-902-2503 Catherine Livingston, FGS Global, 212-687-8080 J. Bryant Kirkland III, Douglas Elliman Inc. 305-579-8000

This article first appeared on GuruFocus. Release Date: March 13, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Douglas Elliman Inc (NYSE:DOUG) reported a 3.8% increase in revenues for 2025, reaching $1.033 billion. The company achieved a significant improvement in operating income, reporting $45.5 million compared to a loss of $68.8 million in 2024. Douglas Elliman Inc (NYSE:DOUG) expanded its international presence by entering the French Alps, building on successful launches in Bordeaux, the French Riviera, and Monaco. The launch of Elliman Capital in New York enhances the company's service offerings, providing a comprehensive suite of lending solutions. The company strengthened its leadership team with key appointments, including a new Chief Strategy Officer, Chief Marketing Officer, and Chief Technology Officer. Adjusted EBITDA for 2025 was a loss of $14 million, although improved from a loss of $24.1 million in 2024. Cash receipts from existing home sales in January and February 2026 were 11% lower than the same period in 2025. The company's expense structure was negatively impacted by inflationary trends and increased personnel expenses. Adjusted net loss for the fourth quarter was $14.2 million compared to adjusted net income of $1.3 million in the 2024 period. Despite revenue growth, the company reported an adjusted net loss of $27.1 million for 2025. Warning! GuruFocus has detected 3 Warning Signs with DOUG. Is DOUG fairly valued? Test your thesis with our free DCF calculator. Q: Can you elaborate on the strategic initiatives Douglas Elliman has implemented to enhance market leadership and service offerings? A: Michael Liebowitz, CEO, highlighted that Douglas Elliman has focused on expanding its footprint in existing markets and entering new high-potential regions, including international markets like the French Alps. The company has launched growth teams to drive expansion and strategically recruit agents. Additionally, the launch of Elliman Capital aims to provide a seamless real estate and finance experience, enhancing the company's value proposition in flagship markets. Q: How has Douglas Elliman's financial performance improved in 2025 compared to the previous year? A: J. Bryant Kirkland, CFO, reported that revenues for 2025 increased by 3.8% year over year to $1.033 billion. The company achieved an operating income of $45.5 million, a significant improvement from a $68.8 million operating loss in 2024. This was partly due to an $81.7 million gain from the sale of the Property Management division. Adjusted EBITDA improved to a loss of $14 million from a loss of $24.1 million in 2024. Q: What trends are shaping the residential real estate market, and how is Douglas Elliman positioned in this context? A: Kirkland noted that luxury home pricing remains strong, with the average price per transaction increasing to $1.86 million in 2025. The company sold 282 homes priced over $5 million in Q4 2025, a 25% increase from 2024. The development marketing division has a robust project pipeline, positioning Douglas Elliman well for future growth as it recognizes commission income from these projects. Q: How has Douglas Elliman managed its expense structure amid economic pressures? A: Kirkland explained that the company continues to target expenses related to office leases, professional services, and technology, despite inflationary trends and increased personnel expenses. The increase in personnel expenses is linked to investments in the development marketing business and increased bonus accruals due to higher revenues. Q: What is the company's outlook for 2026 and beyond? A: Liebowitz expressed confidence that 2026 will mark the beginning of a new growth phase, driven by strategic investments and moves made in 2025. The company's strong balance sheet and enhanced operational capabilities provide flexibility to enter new markets, scale offerings, and attract top talent, positioning Douglas Elliman to deliver sustainable value for clients, agents, and stockholders. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Company builds momentum on revenue base and continues thoughtful expense reductions, driving meaningful improvement in Net Income to $15.2 million and Adjusted EBITDA for the year ended December 31, 2025 MIAMI, March 13, 2026--(BUSINESS WIRE)--Douglas Elliman Inc. ("Douglas Elliman" or the "Company") (NYSE:DOUG) today announced financial results for the three months and year ended December 31, 2025. "Douglas Elliman delivered solid results in the fourth quarter and for the full year 2025, reflecting the beginning stages of our strategic realignment and continued focus on disciplined financial management," said Michael S. Liebowitz, Chief Executive Officer of Douglas Elliman Inc. "Throughout the year, we took bold steps to strengthen our core business, expand our presence in key luxury markets, and invest in technology, talent, and agent resources. Our entry into new international destinations, the launch of Elliman Capital in Florida and New York, and the addition of experienced leaders to our team have positioned us well for future growth. With our sharpened strategic focus, strengthened financial position, and unwavering commitment to client service, we believe we are poised to capitalize on emerging opportunities and drive long-term value for our clients, agents, and stockholders." Bryant Kirkland, Chief Financial Officer of Douglas Elliman, added, "Our 2025 financial performance demonstrates the early benefits of our decisive actions to enhance profitability and operational efficiency. We reported increased revenue and a meaningful improvement in operating losses compared to the prior year. Our Development Marketing division’s pipeline remains strong, stemming from significant investments made in the business in recent years. Importantly, the sale of our property management business and the redemption of our convertible notes solidified our financial position, with $115.5 million of cash and cash equivalents and no long-term debt at year-end. We are confident that our strong balance sheet, differentiated platform, and enduring brand leadership in the luxury segment will continue to provide competitive advantages as we execute our growth strategy." GAAP Financial Results Three months ended December 31, 2025. Fourth quarter 2025 revenues were $245.4 million, compared to revenues of $243.3 million in the fourth quarter of 2024. The Company recorded operating income of $67.0 million in the fourth quarter of 2025, compared to an operating loss of $16.3 million in the fourth quarter of 2024. Net income attributed to Douglas Elliman for the fourth quarter of 2025 was $68.6 million, or $0.68 per diluted common share, compared to net loss of $6.0 million, or $0.07 per diluted common share, in the fourth quarter of 2024. Year ended December 31, 2025. For the year ended December 31, 2025, revenues were $1.033 billion, compared to revenues of $995.6 million for the year ended December 31, 2024. The Company recorded operating income of $45.5 million for the year ended December 31, 2025, compared to operating loss of $68.8 million for the year ended December 31, 2024. Net income attributed to Douglas Elliman for the year ended December 31, 2025 was $15.2 million, or $0.17 per diluted common share, compared to net loss of $76.3 million, or $0.91 per diluted common share, for the year ended December 31, 2024. Non-GAAP Financial Measures Reconciliations of non-GAAP financial measures to the most directly comparable GAAP financial results for the three months and year ended December 31, 2025 and 2024 are included in Tables 2, 3 and 4. Three months ended December 31, 2025 compared to the three months ended December 31, 2024 Adjusted EBITDA attributed to Douglas Elliman (as described in Table 2 attached hereto) was a loss of $10.6 million for the fourth quarter of 2025, compared to a loss of $6.6 million for the fourth quarter of 2024. Adjusted Net Loss attributed to Douglas Elliman (as described in Table 3 attached hereto) was $14.2 million, or $0.17 per diluted share, for the fourth quarter of 2025, compared to Adjusted Net Income of $1.3 million, or $0.01 per diluted share, for the fourth quarter of 2024. Year ended December 31, 2025 compared to the year ended December 31, 2024 Adjusted EBITDA attributed to Douglas Elliman (as described in Table 2 attached hereto) was a loss of $14.0 million for the year ended December 31, 2025, compared to a loss of $24.1 million for the year ended December 31, 2024. Adjusted Net Loss attributed to Douglas Elliman (as described in Table 3 attached hereto) was $27.1 million, or $0.32 per diluted share, for the year ended December 31, 2025, compared to $29.6 million, or $0.35 per diluted share, for the year ended December 31, 2024. Gross Transaction Value For the fourth quarter of 2025, Douglas Elliman’s subsidiary, Douglas Elliman Realty, LLC, achieved gross transaction value of approximately $9.6 billion, compared to approximately $8.8 billion for the fourth quarter of 2024. For the fourth quarter of 2025, Douglas Elliman Realty, LLC reported an average price per transaction of $1.84 million. For the year ended December 31, 2025, Douglas Elliman Realty, LLC achieved gross transaction value of approximately $39.8 billion, compared to approximately $36.4 billion for the year ended December 31, 2024. For the year ended December 31, 2025, Douglas Elliman Realty, LLC reported an average price per transaction of $1.86 million. Further detail on Gross Transaction Value is included in Table 4. Consolidated Balance Sheet Douglas Elliman maintained a strong balance sheet with cash and cash equivalents of $115.5 million at December 31, 2025. Conference Call to Discuss Fourth Quarter and Full Year 2025 Results As previously announced, the Company will host a conference call and webcast to discuss its fourth quarter 2025 results on Friday, March 13, 2026 at 8:00 a.m. (ET). Investors may access the call via live webcast at https://join.eventcastplus.com/eventcastplus/douglas-elliman-inc-fourth-quarter-2025-earnings-call. Please join the webcast at least 10 minutes prior to start time. A replay of the call will be available shortly after the call ends on March 13, 2026 through March 27, 2026 at https://join.eventcastplus.com/eventcastplus/douglas-elliman-inc-fourth-quarter-2025-earnings-call. Non-GAAP Financial Measures Adjusted EBITDA attributed to Douglas Elliman and Adjusted Net Loss attributed to Douglas Elliman (referred to as the "Non-GAAP Financial Measures") are financial measures not prepared in accordance with generally accepted accounting principles ("GAAP"). The Company believes that the Non-GAAP Financial Measures are important measures that supplement discussion and analysis of its results of operations and enhance an understanding of its operating performance. The Company believes the Non-GAAP Financial Measures provide investors and analysts with a useful measure of operating results unaffected by differences in capital structures and ages of related assets among otherwise comparable companies. Management uses the Non-GAAP Financial Measures as measures to review and assess the operating performance of the Company’s business, and management does and investors should review both the overall performance (GAAP net income/loss) and the operating performance (the Non-GAAP Financial Measures) of the Company’s business. While management considers the Non-GAAP Financial Measures to be important, they should be considered in addition to, but not as substitutes for or superior to, other measures of financial performance prepared in accordance with GAAP, such as operating income/loss, net income/loss and cash flows from operations. In addition, the Non-GAAP Financial Measures are susceptible to varying calculations and the Company’s measurement of the Non-GAAP Financial Measures may not be comparable to those of other companies. Attached hereto as Tables 2, 3 and 4 is information relating to the Company’s Non-GAAP Financial Measures for the three months and full years ended December 31, 2025 and 2024. About Douglas Elliman Inc. Douglas Elliman Inc. (NYSE: DOUG, "Douglas Elliman") owns Douglas Elliman Realty, LLC, which is one of the largest residential brokerage companies in the United States with operations in New York City, Long Island, Westchester, Connecticut, New Jersey, the Hamptons, Massachusetts, Florida, California, Texas, Colorado, Nevada, Maryland, Virginia, and Washington, D.C. In addition, Douglas Elliman provides other real estate services, including development marketing, mortgage as well as settlement and escrow services in select markets, and uses as well as invests in early-stage, disruptive property technology solutions and companies. Additional information concerning Douglas Elliman is available on its website, investors.elliman.com. Investors and others should note that we may post information about Douglas Elliman on our website at investors.elliman.com or, if applicable, on our accounts on Facebook, Instagram, LinkedIn, TikTok, X, YouTube or other social media platforms. It is possible that the postings or releases could include information deemed to be material information. Therefore, we encourage investors, the media and others interested in Douglas Elliman to review the information we post on our website at investors.elliman.com and on our social media accounts. Forward-Looking and Cautionary Statements This press release includes forward-looking statements within the meaning of the federal securities law. All statements other than statements of historical or current facts made in this press release are forward-looking. We identify forward-looking statements in this press release by using 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. Forward-looking statements reflect our current expectations and are inherently uncertain. Actual results could differ materially for a variety of reasons. Risks and uncertainties that could cause our actual results to differ significantly from our current expectations are described in our Annual Report on Form 10-K for the year ended December 31, 2024 and, when filed, our Annual Report on Form 10-K for the year ended December 31, 2025. We undertake no responsibility to publicly update or revise any forward-looking statement, except as required by applicable law. TABLE 1 DOUGLAS ELLIMAN INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (Dollars in Thousands, Except Per Share Amounts) TABLE 2 DOUGLAS ELLIMAN INC. AND SUBSIDIARIES RECONCILIATION OF ADJUSTED EBITDA (Unaudited) (Dollars in Thousands) a Represents results from operations of Residential Management Group, LLC, which conducts business as Douglas Elliman Property Management ("DEPM"), which was disposed on October 24, 2025. This adjustment also includes the corporate allocation to Douglas Elliman Realty, LLC ("DER") from DEPM. The expenses associated with the corporate allocation to DEPM have continued at DER after the disposal. b Represents amortization of stock-based compensation. c Represents equity in (earnings) losses recognized from the Company’s investments in equity-method investments that are accounted for under the equity-method and are not consolidated in the Company’s financial results. d Represents unusual litigation expense, settlement and related expenses incurred in connection with industry-wide antitrust class action lawsuits and other matters related to employees and agents. For the year ended December 31, 2025, the Company incurred such expenses of $7,637, net of amounts recovered from insurance, which was included in general and administrative expenses in the consolidated statement of operations. For the year ended December 31, 2024, the Company incurred unusual litigation expense, settlement and related expenses, net of $33,333, of which $17,750 was included in litigation settlement expense and $15,583 was included in general and administrative expenses. e Represents executive severance and separation expenses, net of amounts recovered from insurance. All amounts are included within general and administrative expenses on the consolidated statement of operations. TABLE 3 DOUGLAS ELLIMAN INC. AND SUBSIDIARIES RECONCILIATION OF ADJUSTED NET (LOSS) INCOME (Unaudited) (Dollars in Thousands, Except Per Share Amounts) a Represents operating income and other income of DEPM, which was disposed on October 24, 2025 (DEPM’s operating income was a component of the Company’s Statement of Operations on Table 1 of this press release). This adjustment also includes the corporate allocation to DER from DEPM. The expenses associated with the corporate allocation to DEPM have continued at DER after the disposal. TABLE 4 DOUGLAS ELLIMAN INC. AND SUBSIDIARIES KEY BUSINESS METRICS (Unaudited) (Dollars in Thousands, Except for Gross Transaction Value) View source version on businesswire.com: https://www.businesswire.com/news/home/20260312248770/en/ Contacts Stephen Larkin, Douglas Elliman Inc. 917-902-2503 Olivia Snyder/Catherine Livingston, FGS Global 212-687-8080 J. Bryant Kirkland, Douglas Elliman Inc. 305-579-8000