Company: HOUS
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001398987-25-000020
Chunk: 2

Company: Anywhere Real Estate Inc.
Filing Date: 2025-02-25
Form: 10-K
Item: Item 7
Chunk 2
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Item 7.  Management’s Discussion and Analysis of Financial Condition and Results of Operations.

The following discussion and analysis should be read in conjunction with our consolidated financial statements and accompanying notes thereto included elsewhere herein. Unless otherwise noted, all dollar amounts in tables are in millions. This Management’s Discussion and Analysis of Financial Condition and Results of Operations contain forward-looking statements. See "Forward-Looking Statements" and "Item 1A.—Risk Factors" for a discussion of the uncertainties, risks and assumptions associated with these statements. Actual results may differ materially from those contained in any forward-looking statements. 

The following section generally discusses our financial condition and results of operations for the year ended December 31, 2024 compared to the year ended December 31, 2023. Discussion regarding our financial condition and results of operations for the year ended December 31, 2023 compared to December 31, 2022 is included in Item 7 of our Annual Report on Form 10-K for the year ended December 31, 2023 (2023 Form 10-K), filed with the SEC on February 20, 2024.

Effective December 31, 2024, the Company updated its calculation of Operating EBITDA to include adjustments for non-cash stock-based compensation and legal contingencies unrelated to normal operations which currently includes industry-wide antitrust lawsuits and class action lawsuits to conform with similar adjustments and measures disclosed by industry competitors. We believe this updated Operating EBITDA better facilitates comparisons of operating performance across companies. These changes have been applied retrospectively to prior periods to enhance comparability. The inclusion of these adjustments does not materially affect segment-level trends or conclusions previously disclosed. Reconciliations of Operating EBITDA to the most directly comparable GAAP measure are provided for all periods presented. See below under the header "Financial Condition, Liquidity and Capital Resources—Non-GAAP Financial Measures" for additional information.

RECENT DEVELOPMENTS

Reimagine25: Strategic Transformation Initiative

In 2025, we launched Reimagine25 to transform how we operate as a Company, seizing new opportunities unlocked by generative AI and other emerging technologies to deliver better experiences for our customers faster and at lower cost. These efforts position us for long-term success and a stronger competitive edge in an ever-evolving industry. As part of Reimagine25, we expect to incur restructuring costs to implement these changes, including investments in technology, process optimization, and workforce realignment. 

CURRENT BUSINESS AND INDUSTRY