Residential Real Estate supplied most of the revenue increase, generating $460 million, up 23% from $373 million a year earlier.
The residential segment also produced the decisive change in adjusted profitability. On a GAAP EBITDA basis, residential operations moved to positive $16 million from a $101 million loss, while commercial operations rose to $163 million from $114 million.
Amortization of acquired intangible assets included in cost of revenue rose to $29 million from $19 million. Operating expenses fell to $657 million from $713 million, helped by a reduction in selling and marketing expense to $366 million from $418 million and a decline in general and administrative expense to $138 million from $157 million.
Management said anticipated cost savings for 2026 had risen to about $150 million and identified at least another $200 million of potential savings over the following 12 to 18 months. The company also pointed to artificial intelligence, proprietary real estate data, the Zonda acquisition and its agreement to acquire Vexcel as part of its expansion strategy. Through the first nine months, operating cash flow rose to $455 million from $268 million, while acquisitions totaled $789 million and stock repurchases totaled $668 million.