Filing Flows › Douglas Emmett (DEI) › Q3 2025
Douglas Emmett (DEI) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 7, 2025
Douglas Emmett (DEI) reported revenue of $251M for the third quarter 2025 (Q3 2025), -0.1% from a year earlier and -0.7% from the quarter before. Operating margin was 18.9%, net loss $21.2M (8.5% of revenue).
Douglas Emmett, Q3 2025: revenue $251M (-0.1% year over year), operating margin 18.9%, net loss $21.2M, operating cash flow $110M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $251M | -0.7% | -0.1% |
| Operating profit | $47.4M | +4% | — |
| Net earnings | −$21.2M | — | — |
| Operating cash flow | $110M | +35% | +6% |
| Free cash flow | $61.9M | +105% | -2% |
What changed
Revenue was $250.6M in Q3 2025, roughly flat year over year and down 1% from the previous quarter. Office rental was the largest line at 80% of revenue. Office rental lost $1.6M year over year (down 1%), 926% of the total change.
Gross margin was 63.6%, up 1.4 points from a year earlier. Operating profit was $47.4M, a 18.9% margin (down 0.5 points year over year). Operating expenses grew 4% against flat revenue. The quarter ended with a net loss of $21.2M, wider than the previous quarter's $15.1M loss. Minority interests bore $10.3M of it: to shareholders the quarter was a loss of $10.9M. Net interest and other expense of $68.6M was the main reason.
Operating cash flow was $109.8M (up 6% year over year). Non-cash charges added back $101.2M of depreciation and amortization and $2.4M of share-based compensation. Working capital and other items added $27.4M. Capital expenditures of $47.8M left free cash flow of $61.9M.
Questions
What was Douglas Emmett's revenue in the third quarter 2025?
Douglas Emmett (DEI) reported revenue of $251M for the third quarter 2025 (Q3 2025), -0.1% from a year earlier and -0.7% from the quarter before.
Was Douglas Emmett profitable in the third quarter 2025?
Operating profit was $47.4M (18.9% of revenue) and net loss $21.2M.
Source: Douglas Emmett 10-Q on SEC EDGAR.