Douglas Elliman Inc.

Listed Company

DOUGCIK 0001878897NYSEAcceleratedSmaller ReportingReal Estate Agents & Managers (For Others)DelawareFY ends Dec 31

Period

FY 2025

Revenue

$1.03B

Net Income

$15.22M

Total Assets

$444.41M

Equity

$183.95M

Shares Out

88.22M

Op. Cash Flow

$-13.88M

Business

Douglas Elliman Inc. provides residential real estate brokerage, property services and PropTech investment activities. It offers brokerage services, new development sales and marketing, property management, title and escrow services, and technology-enabled agent tools and client-facing concierge solutions. Key business segments include Douglas Elliman Realty, Development Marketing (DEDM), Residential Management Group, DE Title Services, Portfolio Escrow, and its PropTech investing arm New Valley Ventures. The company operates across major U.S. luxury and high-density markets, distributing services through a network of offices, agents, digital platforms and strategic partnerships.

Summary from filing dated 2025-03-17

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Total revenues	1,033	996	956	1,153	1,353
Sales and marketing	81	83	84	86	77
General and administrative	111	118	125	131	93
Technology	23	23	24	—	—
Depreciation and amortization	8	8	8	8	9
Antitrust litigation settlement expense	0	18	0	0	—
Impairment of fixed assets	2	0	0	—	—
Restructuring	2	1	2	0	0
Gain on disposal of business	−82	0	0	—	—
Operating income (loss)	45	−69	−64	−5	102
Interest expense	−5	−3	−28,000	−148,000	—
Interest income	5	6	6	2	83,000
Equity in earnings (losses) from equity-method investments	187,000	36,000	−168,000	−563,000	−278,000
Loss on extinguishment of liability	−466,000	0	0	—	—
Change in fair value of the derivative embedded within convertible debt	−28	−15	0	0	—
Investment and other gains	1	5	633,000	3	529,000
Income (loss) before provision for income taxes	18	−76	−58	104,000	101
Income tax expense (benefit)	4	1	−15	7	2
Net income (loss)	14	−77	−43	−6	99
Net loss attributed to non-controlling interest	909,000	686,000	614,000	777,000	186,000
Net income (loss) attributed to Douglas Elliman Inc.	15	−76	−43	−6	99
Net loss applicable to common shares attributed to Douglas Elliman Inc.(in dollars per share)	0.17	−0.91	−0.52	−0.08	1.21
Net loss applicable to common shares attributed to Douglas Elliman Inc.(in dollars per share)	0.17	−0.91	−0.52	−0.08	1.21

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	116	136	120	164	212
Investment securities at fair value	0	10	0	—	—
Receivables	20	20	22	22	32
Agent receivables, net	6	8	12	13	9
Restricted cash and cash equivalents	5	4	7	5	15
Other current assets	15	19	15	14	12
Total current assets	161	196	181	225	281
Property and equipment, net	30	38	40	42	39
Operating lease right-of-use assets	83	100	108	118	124
Long-term investments (includes $4,399 and $3,127 at fair value)	11	10	13	13	8
Contract assets, net	47	37	36	39	29
Goodwill	32	32	32	32	33
Other intangible assets, net	72	72	73	74	74
Equity-method investments	2	2	2	2	3
Other assets	6	6	7	6	5
Total assets	444	494	493	550	595
Current operating lease liabilities	21	22	22	22	23
Income taxes payable, net	4	0	—	—	—
Accounts payable	4	3	6	5	6
Commissions payable	22	20	25	22	36
Accrued salaries and benefits	14	8	13	18	25
Contract liabilities	16	18	11	8	7
Other current liabilities	19	20	20	14	22
Total current liabilities	99	92	97	90	132
Notes payable and other obligations less current portion	0	33	0	—	—
Fair value of the derivative embedded within convertible debt	0	30	0	—	—
Non-current operating lease liabilities	82	102	111	121	129
Contract liabilities	75	64	51	55	40
Antitrust litigation settlement	5	10	0	—	—
Other liabilities	134,000	683,000	133,000	306,000	188,000
Total liabilities	261	331	259	280	313
Preferred stock, par value $0.01 per share, 10,000,000 shares authorized	0	0	0	0	0
Common stock, par value $0.01 per share, 250,000,000 shares authorized, 88,247,942 and 88,853,150 shares issued and outstanding	883,000	889,000	879,000	809,000	812,000
Additional paid-in capital	292	285	280	273	279
Accumulated deficit	−109	−124	−48	−5	622,000
Total Douglas Elliman Inc. stockholders' equity	184	162	233	269	280
Non-controlling interest	−672,000	237,000	923,000	2	2
Total stockholders' equity	183	162	234	270	282
Total liabilities and stockholders' equity	444	494	493	550	595

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Non-cash stock-based compensation expense	9	7	13	11	0
Impairment of fixed assets	2	0	0	—	—
Loss on sale of assets	204,000	205,000	37,000	11,000	186,000
Deferred income taxes	0	977,000	−15	4	−73,000
Net gains on investment securities	−1	−5	−633,000	−3	−265,000
Non-cash interest expense	2	1	0	0	—
Non-cash lease expense	19	21	22	21	19
Provision for credit losses	4	5	5	4	3
Receivables	−4	820,000	−2	3	−12
Income taxes receivables, net	4	5	1	−8	1
Contract assets, net	−7	−6	1	−12	—
Accounts payable and accrued liabilities	2	−7	10	−23	−2
Operating right-of-use assets and operating lease liabilities, net	−22	−22	−23	−24	−24
Accrued salary and benefits	6	−5	−5	−7	13
Contract liabilities	9	20	−516,000	17	—
Antitrust litigation settlement	−5	10	0	0	—
Other assets and liabilities	−353,000	3	−1	−797,000	20
Net cash used in operating activities	−14	−26	−30	−15	128
Purchase of debt securities	0	0	−25,000	−701,000	0
Purchase of equity securities	0	0	−300,000	−2	−4
Proceeds from sale or liquidation of long-term investments	2	9	1	0	0
Purchase of long-term investments	−138,000	−330,000	−190,000	−1	−365,000
Proceeds from sale or liquidation of short-term investments	98	0	0	—	—
Purchase of short-term investments	−88	0	0	0	—
Purchase of investment securities at fair value	0	−10	0	—	—
Proceeds from disposal of business, less cash distributed	82	0	0	0	0
Capital expenditures	−3	−6	−6	−9	−4
Net cash provided by (used in) investing activities	90	−7	−5	−13	−9
Proceeds from debt issuance	0	49	0	0	—
Repayments of convertible note	−94	0	0	—	—
Deferred financing charges	0	−2	0	0	—
Withholding of shares as payment of payroll tax liabilities in connection with restricted stock vesting	−2	−1	−2	0	—
Dividends on common stock	0	0	−4	−16	0
Net cash (used in) provided by financing activities	−96	45	−6	−30	3
Net (decrease) increase in cash, cash equivalents and restricted cash	−20	13	−42	−57	122

Filings

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