Douglas Elliman Inc. Q4 FY2024 earnings call

• Michael highlighted progress since becoming CEO in October, with revenues up 13.6% in Q4 2024 vs Q4 2023, cash receipts in Jan-Feb 2025 30% higher than 2024, ranked most trusted real estate brokerage, executing strategic plan for growth in recruiting and international expansion, focusing on cost reduction by analyzing investments for ROI, and newly created M&A unit exploring acquisitions.
• Bryant discussed strong home sale pricing, development marketing division with $27.7 million gross transaction value pipeline and $5B coming to market by March 2026, brokerages outperforming peers, reduced operating expenses by $19.7 million in 2024 excluding certain items, strong liquidity with cash and equivalents at $135M plus $10M in US treasuries, adjusted liquidity remaining strong after annual bonus, and balance sheet strength providing competitive advantage.

For the three months ended December 31, 2024, Douglas Elliman reported revenues of $243.3 million, compared to $214.1 million in the fourth quarter of 2023. The net loss for the fourth quarter was $6 million, or $0.07 per diluted share, versus $14.8 million, or $0.18 per diluted share, in the 2023 fourth quarter. Adjusted EBITDA for the fourth quarter was a loss of $5.4 million, compared to a loss of $16.1 million in the 2023 fourth quarter, and adjusted net income was $2.4 million, or $0.03 per share, versus an adjusted net loss of $13.7 million, or $0.17 per share, in the 2023 fourth quarter. For the year ended December 31, 2024, revenues were $995.6 million compared to $955.6 million in 2023. The net loss attributed to Douglas Elliman was $76.3 million, or $0.91 per diluted share, versus $42.6 million, or $0.52 per diluted share, in 2023. Adjusted EBITDA for the year was a loss of $17.8 million versus a loss of $39.9 million in 2023, and adjusted net loss was $24 million, or $0.29 per diluted share, versus $40.1 million, or $0.49 per diluted share, in 2023.

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