Company: HOUS
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001398987-25-000116
Chunk: 187

Company: Anywhere Real Estate Inc.
Filing Date: 2025-11-05
Form: 10-Q
Item: Item 2
Chunk 187
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 million of higher accruals for employee cash-settled awards which fluctuate with the Company's stock price and reflect its appreciation in the third quarter of 2025 and an increase in employee-related healthcare costs, partially offset by cost savings initiatives.

Anywhere Integrated Services—Title Group

Nine Months Ended September 30, 20252024$ Change% ChangeRevenues$289 $270 19 7 Operating EBITDA (a)$(9)$(4)(5)(125)Operating EBITDA Margin(3)%(1)%

(a)2024 amounts have been updated to reflect our definition of Operating EBITDA under the heading "Non-GAAP Financial Measures" in this Item 2.

Revenues increased $19 million primarily driven by a $13 million increase in resale revenue due to a higher average fee per closing unit which was partially offset by a decline in purchase units. Additionally, refinance revenue increased $5 million driven by both an increase in units and a higher average fee per closing unit.

Operating EBITDA decreased $5 million primarily due to a $12 million increase in variable operating costs due to volume increases and a $12 million increase in employee and other operating costs primarily due to higher employee-related healthcare costs, partially offset by a $19 million increase in revenues discussed above.

Intercompany Eliminations and Unallocated Expenses—Corporate and Other

Nine Months Ended September 30, 20252024$ Change% ChangeIntersegment revenues$(251)$(242)(a)Operating EBITDA (b)$(116)$(92)(24)(26)

(a)Includes intercompany royalties and marketing fees paid by Owned Brokerage Group to Franchise Group which are eliminated in consolidation.

(b)Operating EBITDA represents unallocated corporate expenses. 2024 amounts have been updated to reflect our definition of Operating EBITDA under the heading "Non-GAAP Financial Measures" in this Item 2.

Corporate and Other unallocated expenses within Operating EBITDA for the nine months ended September 30, 2025 increased $24 million primarily attributable to $8 million of higher accruals for employee cash-settled awards which fluctuate with the Company's stock price and reflect its appreciation in the third quarter of 2025 and an increase in employee-related healthcare costs.

44

FINANCIAL CONDITION, LIQUIDITY AND CAPITAL RESOURCES

Financial Condition

Balance Sheet Highlights (September 30, 2025 vs. December 31, 2024)

Assets

•Cash and cash