Douglas Elliman Inc. announced its financial results for the three and six months ended June 30, 2025, on July 31, 2025. For the second quarter of 2025, revenues were $271.4 million, a 5.0% decrease compared to $285.8 million in Q2 2024. The operating loss for Q2 2025 was $5.5 million, compared to $3.7 million in Q2 2024.
Net loss attributed to Douglas Elliman in Q2 2025 was $22.7 million, or $0.27 per diluted common share, compared to a net loss of $1.7 million, or $0.02 per diluted common share, in Q2 2024. Adjusted EBITDA for Q2 2025 was a loss of $0.8 million, compared to income of $2.9 million in Q2 2024.
For the six months ended June 30, 2025, total revenues increased by 8.0% year-over-year to $524.8 million, marking its strongest first-half revenue performance since 2022. The operating loss for H1 2025 significantly narrowed to $10.9 million, from $45.1 million in H1 2024.
Net loss for the first half of 2025 significantly narrowed to $28.7 million, or $0.34 per diluted common share, compared to a loss of $43.1 million, or $0.52 per diluted common share, in H1 2024. Adjusted EBITDA for H1 2025 turned positive at $0.3 million, a substantial improvement from a loss of $14.7 million in H1 2024.
Gross Transaction Value for the six months ended June 30, 2025, increased to approximately $20.1 billion, up from $17.8 billion in H1 2024, with an average price per transaction of $1.923 million. The company maintained a strong liquidity position with $136.3 million in cash and cash equivalents at June 30, 2025.
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