Record Revenue Growth
Revenues increased by 27% year-over-year to $253.4 million, marking the strongest first quarter performance since 2022.
Significant Increase in Luxury Home Sales
Average price per home sale increased to $2 million, with a 73% increase in homes sold for approximately $5 million or more, and a 76% increase in homes sold for $10 million or more.
Development Marketing Division Success
Development Marketing's first quarter revenues increased by $14.6 million or 222% from the 2024 first quarter.
Improvement in Financial Performance
Net loss reduced to $6 million from $41.5 million in the 2024 first quarter. Adjusted EBITDA turned positive at $1.1 million compared to a loss of $17.6 million in the 2024 first quarter.
Strong Liquidity Position
Cash and cash investments increased to approximately $137 million.
Expense Reduction Success
Operating expenses reduced by $3 million after excluding commissions and other specific expenses.