AGNT (AGNT) investor relations material

Executive summary

• Q3 revenue rose 6% YoY to $1.393B; net loss was $4.3M versus net income of $3.5M a year earlier.

• Agent count, transactions and sales volume increased YoY despite a challenging housing market; priorities include agent-focused innovation and operating efficiency.

Financial highlights

• Q3 gross profit rose 6% to $91.0M; operating expenses increased 7% to $87.9M, and operating income fell 23% to $3.1M.

• Q3 adjusted EBITDA was $17.1M, down 3% YoY; nine-month adjusted EBITDA rose to $46.9M from $31.1M.

• Nine-month revenue increased to $3.848B from $3.580B; net loss widened to $12.0M from $9.8M, while operating loss narrowed to $4.0M from $8.7M.

• Q3 other expense, net was $5.9M, mainly reflecting losses on sale and impairment of equity investments; equity in losses of unconsolidated affiliates was $6.5M.

Outlook and guidance

• Q4 2026 guidance: revenue $1.0B–$1.2B, operating expenses $93M–$97M, and adjusted EBITDA $(7)M–$0M.

• FY 2026 guidance: revenue $4.85B–$5.05B, operating expenses $362M–$367M, and adjusted EBITDA $40M–$47M.

• Adjusted EBITDA guidance is non-GAAP and was not reconciled because future reconciling items cannot be predicted with required precision.

• Forecasting models reflect minimal growth; higher mortgage rates, softer housing demand and elevated legal expenses weighed on the outlook, with legal costs expected to normalize in 2027.