v3.26.1
SEGMENT INFORMATION
 3 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
SEGMENT INFORMATION SEGMENT INFORMATION
The Company is managed as a single operating and reporting segment and its CODM evaluates the operating results and revenue of the Company to make decisions. Consequently, the measure of segment profit or loss is the condensed consolidated net income (loss). The measure of segment assets is reported on the Company’s condensed consolidated balance sheets.
Financial information for the Company’s revenue and expenses for the three months ended March 31, 2026 and 2025 were as follows:
Three Months Ended
March 31,
20262025
Total Revenue
$214,333 $253,403 
Operating expenses:
Real estate agent commissions
167,391 186,525 
Sales and marketing
17,737 19,739 
Operations and support
16,240 17,728 
General and administrative
23,192 27,325 
Technology
5,238 5,535 
Depreciation and amortization
1,999 1,900 
Restructuring
47 — 
Operating loss
(17,511)(5,349)
Other income (expenses):
Interest expense(3)(1,530)
Interest income890 1,361 
Equity in earnings from equity-method investments
388 2 
Change in fair value of the derivative embedded within convertible debt
— (746)
Investment and other losses
(40)(22)
Loss before provision for income tax
(16,276)(6,284)
Income tax expense— — 
Net loss(16,276)(6,284)
Net loss attributed to non-controlling interest
— 299 
Net loss attributed to Douglas Elliman Inc.$(16,276)$(5,985)
For the three months ended March 31, 2026, $1,099 of stock-based compensation is included within General and administrative expenses and $69 is included within Operations and support expenses on the condensed consolidated statements of operations. For the three months ended March 31, 2025, $1,770 of stock-based compensation is included within General and administrative expenses and $265 is included within Operations and support expenses on the condensed consolidated statements of operations.
The Company’s identifiable assets and capital expenditures for March 31, 2026 and December 31, 2025 were as follows:

Three Months Ended March 31, 2026
Identifiable assets
$435,214 
Capital expenditures$259 
Year Ended December 31, 2025
Identifiable assets
$444,409 
Capital expenditures$3,353