| REVENUE RECOGNITION |
REVENUE RECOGNITION Disaggregation of Revenue In the following tables, revenue is disaggregated by major services line and primary geographical market: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, 2026 | | Total | | New York City | | Northeast | | Southeast | | West | | International | Revenues: | | | | | | | | | | | | | Commission and other brokerage income - existing home sales | $ | 261,763 | | | $ | 64,516 | | | $ | 53,194 | | | $ | 101,095 | | | $ | 42,883 | | | $ | 75 | | | Commission and other brokerage income - development marketing | 18,440 | | | 6,512 | | | — | | | 11,491 | | | 437 | | | — | | Other ancillary services | 3,246 | | | 101 | | | 29 | | | 3 | | | 3,113 | | | — | | | Total revenues | $ | 283,449 | | | $ | 71,129 | | | $ | 53,223 | | | $ | 112,589 | | | $ | 46,433 | | | $ | 75 | | | | | | | | | | | | | | | Three Months Ended June 30, 2025 | | Total | | New York City | | Northeast | | Southeast | | West | | International | Revenues: | | | | | | | | | | | | | Commission and other brokerage income - existing home sales | $ | 243,755 | | | $ | 71,039 | | | $ | 49,789 | | | $ | 72,872 | | | $ | 50,055 | | | $ | — | | | Commission and other brokerage income - development marketing | 14,261 | | | 6,835 | | | 111 | | | 5,174 | | | 2,141 | | | — | | | Property management revenue | 10,465 | | | 10,273 | | | 192 | | | — | | | — | | | — | | Other ancillary services | 2,885 | | | 123 | | | 7 | | | — | | | 2,755 | | | — | | | Total revenues | $ | 271,366 | | | $ | 88,270 | | | $ | 50,099 | | | $ | 78,046 | | | $ | 54,951 | | | $ | — | | | | | | | | | | | | | | | Six Months Ended June 30, 2026 | | Total | | New York City | | Northeast | | Southeast | | West | | International | Revenues: | | | | | | | | | | | | | Commission and other brokerage income - existing home sales | $ | 459,629 | | | $ | 116,008 | | | $ | 92,445 | | | $ | 174,358 | | | $ | 76,669 | | | $ | 149 | | | Commission and other brokerage income - development marketing | 32,455 | | | 15,733 | | | — | | | 15,812 | | | 910 | | | — | | | | | | | | | | | | | | | Other ancillary services | 5,698 | | | 111 | | | 29 | | | 4 | | | 5,554 | | | — | | | Total revenues | $ | 497,782 | | | $ | 131,852 | | | $ | 92,474 | | | $ | 190,174 | | | $ | 83,133 | | | $ | 149 | | | | | | | | | | | | | | | Six Months Ended June 30, 2025 | | Total | | New York City | | Northeast | | Southeast | | West | | International | Revenues: | | | | | | | | | | | | | Commission and other brokerage income - existing home sales | $ | 463,762 | | | $ | 137,256 | | | $ | 92,784 | | | $ | 142,271 | | | $ | 91,451 | | | $ | — | | | Commission and other brokerage income - development marketing | 35,397 | | | 15,005 | | | 263 | | | 17,548 | | | 2,581 | | | — | | | Property management revenue | 19,957 | | | 19,555 | | | 402 | | | — | | | — | | | — | | | Other ancillary services | 5,653 | | | 199 | | | 15 | | | — | | | 5,439 | | | — | | | Total revenues | $ | 524,769 | | | $ | 172,015 | | | $ | 93,464 | | | $ | 159,819 | | | $ | 99,471 | | | $ | — | |
Contract Balances The following table provides information about contract assets and contract liabilities from development marketing and commercial leasing contracts with customers: | | | | | | | | | | | | | June 30,
2026 | | December 31,
2025 | | | | | | Receivables, which are included in receivables | $ | 3,006 | | | $ | 3,141 | | | Contract assets, net, which are included in other current assets | 8,170 | | | 8,775 | | | Contract assets, net, non-current | 55,357 | | | 46,735 | | | Payables, which are included in commissions payable | 2,182 | | | 2,237 | | | Contract liabilities, current | 14,771 | | | 15,966 | | | Contract liabilities, non-current | 92,967 | | | 74,946 | |
The Company recognized revenues of $10,237 and $13,209 for the three and six months ended June 30, 2026, respectively, that were included in the contract liabilities balances at December 31, 2025. The Company recognized revenues of $4,465 and $10,846 for the three and six months ended June 30, 2025, respectively, that were included in the contract liabilities balances at December 31, 2024.
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