Douglas Elliman (DOUG) Operating Expenses (2021 - 2026)

Over the twelve months ended Jun 30, 2026, Douglas Elliman's Operating Expenses came in at $99.97 million, down 16.8% year-over-year; for FY2025, it came in at $112.59 million, down 5.2% from FY2024.

• Operating Expenses has declined for three consecutive years, though with a five-year compound annual growth rate of 7.2% (FY2020 to FY2025).
• By year, Operating Expenses came in at $118.81 million in FY2024 (-7.0%), $127.82 million in FY2023 (-2.7%), $131.42 million in FY2022 (+41.6%) and $92.8 million in FY2021 (+16.7%).
• The Q2 2026 figure ranks as the lowest quarterly Operating Expenses in data going back to Q1 2021.
• Year over year, Operating Expenses has now declined in each of the last three quarters, with an average decline of 5.9% over the last eight quarters.
• The high point for year-over-year Operating Expenses in five years was Q1 2022 (growth of 70.0%); the low point was Q2 2026 (a decline of 32.2%).
• Per Business Quant data, the three quarters before Q2 2026 came in at $23.24 million (Q1 2026), $25.77 million (Q4 2025) and $33.01 million (Q3 2025).