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SEGMENT INFORMATION (Tables)

12 Months Ended

Dec. 31, 2024

Segment Reporting [Abstract]

Schedule of Financial Information for the Company’s Operations Before Taxes and Non-controlling Interests

Financial information for the Company’s operations before taxes and non-controlling interests for the years ended December 31, 2024, 2023, and 2022 was as follows:

			Real Estate Brokerage						Corporate Activities and Other
2024
Revenues			$	995,627					$	—
Operating expenses:
Real estate agent commissions			$	743,819					$	—
Sales and marketing			82,606						—
Operations and support (1)			69,278						—
General and administrative (1)			83,465						28,798
Technology			23,386						—
Depreciation and amortization			7,736						—
Antitrust litigation settlement expense			17,750						—
Stock-based compensation (1)			4,325						2,249
Restructuring			616						425
Segment operating loss			$	(37,354)					$	(31,472)
Real estate brokerage segment operating loss									$	(37,354)
Corporate activities and other segment operating loss									(31,472)
Total segments’ operating loss									$	(68,826)
Interest expense									(2,939)
Interest income									5,533
Equity in earnings (losses) from equity-method investments									36
Change in fair value of derivatives embedded with convertible debt									(14,978)
Investment and other income									5,289
(Loss) income before provision for income tax									$	(75,885)

(1)     $5,510 of stock-based compensation is included within General and administrative expenses ($3,261 in Real Estate Brokerage segment and $2,249 in Corporate activities and other segment) and $1,064 is included within the Real Estate Brokerage’s segment’s Operations and support expenses on the consolidated statements of operations.

    

			Real Estate Brokerage						Corporate Activities and Other
2023
Revenues			$	955,578					$	—
Operating expenses:
Real estate agent commissions			$	706,162					$	—
Sales and marketing			83,670						—
Operations and support (1)			69,675						—
General and administrative (1)			94,110						19,192
Technology			23,788						—
Depreciation and amortization			8,026						—
Stock-based compensation (1)			4,539						8,536
Restructuring			2,377						—
Segment operating loss			$	(36,769)					$	(27,728)
Real estate brokerage segment operating loss									$	(36,769)
Corporate activities and other segment operating loss									(27,728)
Total segments’ operating loss									$	(64,497)
Interest expense									(28)
Interest income									5,841
Equity in earnings (losses) from equity-method investments									(168)
Investment and other income									633
(Loss) income before provision for income tax									$	(58,219)

(1)    $12,145 of stock-based compensation is included within General and administrative expenses ($3,609 in Real Estate Brokerage segment and $8,536 in Corporate activities and other segment) and $930 is included within the Real Estate Brokerage’s segment’s Operations and support expenses on the consolidated statements of operations.

			Real Estate Brokerage						Corporate Activities and Other
2022
Revenues			$	1,153,177					$	—
Operating expenses:
Real estate agent commissions			$	836,803					$	—
Sales and marketing			85,763						—
Operations and support (1)			72,169						—
General and administrative (1)			101,469						19,591
Technology			22,773						—
Depreciation and amortization			8,012						—
Stock-based compensation (1)			4,195						6,943
Segment operating income (loss)			$	21,993					$	(26,534)
Real estate brokerage segment operating income									$	21,993
Corporate activities and other segment operating loss									(26,534)
Total segments’ operating loss									$	(4,541)
Interest expense									(148)
Interest income									1,927
Equity in earnings (losses) from equity-method investments									(563)
Investment and other income									3,429
(Loss) income before provision for income tax									$	104

(1)     $10,361 of stock-based compensation is included within General and administrative expenses ($3,418 in Real Estate Brokerage segment and $6,943 in Corporate activities and other segment) and $777 is included within the Real Estate Brokerage’s segment’s Operations and support expenses on the consolidated statements of operations.

The Company’s identifiable assets and capital expenditures by segment for December 31, 2024, 2023 and 2022 were as follows:

			Real Estate Brokerage						Corporate Activities and Other						Total
Year Ended December 31, 2024
Identifiable assets (1)			$	425,148					$	68,740					$	493,888
Capital expenditures			$	5,534					$	—					$	5,534
Year Ended December 31, 2023
Identifiable assets (2)			$	455,021					$	38,398					$	493,419
Capital expenditures			$	6,143					$	—					$	6,143
Year Ended December 31, 2022
Identifiable assets (3)			$	512,524					$	37,878					$	550,402
Capital expenditures			$	8,537					$	—					$	8,537

(1)     Includes $1,401 and $619 in equity method investments for Real Estate Brokerage segment and Corporate Activities and Other segment, respectively.

(2)     Includes $1,390 and $570 in equity method investments for Real Estate Brokerage segment and Corporate Activities and Other segment, respectively.

(3)     Includes $1,366 and $263 in equity method investments for Real Estate Brokerage segment and Corporate Activities and Other segment, respectively.

X

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-25

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

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X

- References

No definition available.

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