Filing Flows › Douglas Elliman (DOUG) › Q2 2025
Douglas Elliman (DOUG) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 5, 2025
Douglas Elliman (DOUG) reported revenue of $271M for the second quarter 2025 (Q2 2025), -5% from a year earlier and +7% from the quarter before. Operating margin was -2.0%, net loss $22.6M (8.3% of revenue).
Douglas Elliman, Q2 2025: revenue $271M (-5% year over year), operating margin -2.0%, net loss $22.6M, operating cash flow $643K. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $271M | +7% | -5% |
| Operating profit | −$5.5M | — | — |
| Net earnings | −$22.6M | — | — |
| Operating cash flow | $643K | — | -51% |
What changed
Revenue was $271.4M in Q2 2025, down 5% year over year and up 7% from the previous quarter. Commission and other brokerage income - existing home sales was the largest line at 90% of revenue. Commission and other brokerage income - existing home sales lost $17.4M year over year (down 7%), 121% of the total change.
Operating costs exceeded revenue by $5.5M, an operating margin of -2.0%. Total costs fell 4% while revenue fell 5%. The quarter ended with a net loss of $22.6M, wider than the previous quarter's $6.3M loss. Net interest and other expense of $17.1M was the main reason.
Operating cash flow was $643K (down 51% year over year). Non-cash charges added back $2.2M of depreciation and amortization and $2.1M of share-based compensation. Working capital and other items added $18.9M. Capital expenditures of $1.2M exceeded it, leaving free cash flow of −$574K.
Questions
What was Douglas Elliman's revenue in the second quarter 2025?
Douglas Elliman (DOUG) reported revenue of $271M for the second quarter 2025 (Q2 2025), -5% from a year earlier and +7% from the quarter before.
Was Douglas Elliman profitable in the second quarter 2025?
Operating loss was $5.5M (-2.0% of revenue) and net loss $22.6M.
Source: Douglas Elliman 10-Q on SEC EDGAR.