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ouglas Elliman highlighted its robust balance sheet—$143 million cash, no debt—calling it a competitive edge as peers chase consolidation. The firm’s latest earnings underscore a renewed emphasis on its luxury residential brokerage core.
Q3 revenue hit $262.8 million, a modest dip from $266.3 million a year earlier, while the net loss narrowed to $24.7 million versus $27.2 million in the same quarter last year. For the first nine months of 2025, revenue rose 5 % year‑over‑year to $787.6 million, and the operating loss fell more than half to $21.5 million.
CEO Michael Liebowitz credited decisive actions—selling the property‑management arm for $85 million in late October and converting convertible notes—to reposition Elliman as a financially solid luxury brand after legal and leadership turbulence. CFO Bryant Kirkland highlighted the cash cushion and debt‑free status, asserting that the strong balance sheet fuels further growth, including recent moves into France and Monaco and the launch of the Elli AI assistant for agents and clients.
Liebowitz also addressed the proposed Compass‑Anywhere merger, noting that while the industry seeks consolidation, Elliman remains committed to deepening its luxury leadership. “Our focus on the luxury segment positions us for long‑term success and value creation,” he said.
Following the property‑management sale, Liebowitz told The Real Deal that Elliman is not for sale.
On the earnings call, the company added attorney and real‑estate investor Perry Weitz to its board. Liebowitz praised Weitz’s business acumen and experience building high‑performing teams, saying his expertise will be vital as the firm navigates an evolving market.
