Filing Flows › Douglas Emmett (DEI) › Q2 2025
Douglas Emmett (DEI) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 8, 2025
Douglas Emmett (DEI) reported revenue of $252M for the second quarter 2025 (Q2 2025), +3% from a year earlier and +0.4% from the quarter before. Operating margin was 18.1%, net loss $15.1M (6.0% of revenue).
Douglas Emmett, Q2 2025: revenue $252M (+3% year over year), operating margin 18.1%, net loss $15.1M, operating cash flow $81.3M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $252M | +0.4% | +3% |
| Operating profit | $45.6M | -13% | — |
| Net earnings | −$15.1M | -138% | — |
| Operating cash flow | $81.3M | -39% | -12% |
| Free cash flow | $30.2M | -67% | -42% |
What changed
Revenue was $252.4M in Q2 2025, up 3% year over year and roughly flat from the previous quarter. Office rental was the largest line at 80% of revenue. Office rental added $3.6M year over year (up 2%), 54% of the total change.
Gross margin was 63.2%, down 2.9 points from a year earlier. Operating profit was $45.6M, a 18.1% margin (down 4.6 points year over year). Operating profit fell $10.0M even though revenue rose $6.7M versus a year earlier, so costs grew faster than sales. Operating expenses grew 7% against revenue growth of 3%. The quarter ended with a net loss of $15.1M, after a profit of $44.6M the previous quarter. Minority interests bore $9.2M of it: to shareholders the quarter was a loss of $5.8M. Net interest and other expense of $60.7M was the main reason.
Operating cash flow was $81.3M (down 12% year over year). Non-cash charges added back $101.7M of depreciation and amortization and $2.4M of share-based compensation. Working capital and other items used $7.8M. Capital expenditures of $51.1M left free cash flow of $30.2M.
Questions
What was Douglas Emmett's revenue in the second quarter 2025?
Douglas Emmett (DEI) reported revenue of $252M for the second quarter 2025 (Q2 2025), +3% from a year earlier and +0.4% from the quarter before.
Was Douglas Emmett profitable in the second quarter 2025?
Operating profit was $45.6M (18.1% of revenue) and net loss $15.1M.
Source: Douglas Emmett 10-Q on SEC EDGAR.