Elliman Cuts Losses to $3M as Tech Upgrade Bears Fruit
Douglas Elliman has narrowed its losses to $3 million in the second quarter of this year, a significant improvement from the same period in 2025 when it posted a net loss of $22.6 million.
The company's CEO Michael Liebowitz attributed the turnaround to an overhaul of its back-end technology, which is expected to reduce costs starting next year.
Liebowitz also announced that Elliman would launch a new data company called Elius, backed by Google Cloud's AI and funding from the company's own cash stores.
The platform will allow Elliman to build new products and services using the data it collects from its brokerage and new development segments.
Elliman also reported an uptick in revenue, which totaled $283 million last quarter compared to $271 million in the same period last year.