Douglas Elliman Inc. (DOUG) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome to Douglas Elliman's second quarter 2025 earnings conference call. This call is being recorded and simultaneously webcast. An archived version of the webcast will be available on the investor relations section of the company's website located at investors.elliman.com for one year. I would now like to turn the conference over to Douglas Elliman Vice President of Finance, Heather Capriola. Thank you and good morning. On the call with me today is Michael Leibowitz, President and CEO of Douglas Elliman, Inc. and Brian Kirkland, CFO of Douglas Elliman, Inc. During this call, the terms adjusted EBITDA and adjusted net loss will be used, as well as last 12 months or LTM metrics. These terms are non-GAAP financial measures and should be considered in addition to, but not as a substitute for, other measures of financial performance prepared in accordance with GAAP. Reconciliations to adjusted EBITDA and adjusted net loss are contained in the company's earnings release, which has been posted to the investor relations section of the company's website. Before the call begins, I would like to read a safe harbor statement. The statements made during this conference call that are not historical facts are forward-looking statements that are subject to risk and uncertainties that could cause actual results to differ materially from those set forth in or implied by forward-looking statements. These risks are described in more detail in the company's securities and exchange commission filings. Now, I would like to turn the call over to the Chief Executive Officer of Douglas Elliman, Michael S. Leibowitz. Thank you, Heather. Good morning, and thank you for joining us. I am pleased to share that Douglas Elliman continues to make meaningful progress as we execute our strategy to d...