AGNT, Inc. (AGNT) · Nov 5, 2026 · Earnings
Miss — diluted EPS $(0.03) vs ~$0.06 consensus
AGNT’s Q3 earnings show solid agent and transaction growth, but a loss, weaker cash generation, and a lower full-year EBITDA outlook pressure the story.
AGNT is in the early phase of a broader multi-model real-estate expansion after acquiring NextHome and adding franchising to its core eXp brokerage, while new CEO Leo Pareja is positioning the platform around international growth and AI-enabled tools. The operating engine kept growing, but the quarter missed on profitability. Revenue rose 6% to $1.393 billion, broadly within the prior Q3 guidance range of $1.35 billion-$1.45 billion, while agents, transactions, and sales volume all increased. The problem was below the revenue line: diluted EPS was $(0.03), versus a published consensus of roughly $0.06, and the company moved from year-ago profit to a $4.3 million loss.
| Metric | Q3 2026 | Q3 2025 | Consensus / prior guide |
|---|---|---|---|
| Revenue (Financial Highlights) | $1.393B (+5.8%) | $1.317B | $1.35B-$1.45B guide |
| Diluted EPS (Income Statement) | $(0.03) | $0.02 | ~$0.06 consensus |
| Adjusted EBITDA (EBITDA reconciliation) | $17.1M (-3.2%) | $17.7M | $17M-$22M guide |
| Operating expenses (Financial Highlights) | $87.9M (+6.9%) | $82.2M | $85M-$90M guide |
| Adjusted operating cash flow (Adjusted Operating Cash Flow) | $41.5M (-8.8%) | $45.4M | |
| Q4 adjusted EBITDA outlook (Q4 Outlook) | $(7)M-$0M | ||
| FY2026 adjusted EBITDA outlook (Full-Year Outlook) | $40M-$47M | $50M-$60M prior guide |
The key change is the lower profit outlook, not the top line. Management left full-year revenue guidance at $4.85 billion-$5.05 billion, but cut full-year adjusted EBITDA guidance from $50 million-$60 million to $40 million-$47 million. The Q4 outlook is especially weak, calling for adjusted EBITDA between negative $7 million and zero, suggesting the company is accepting a near-term profitability setback while continuing to invest in the platform.
Growth metrics remain credible, but agent satisfaction weakened. The platform ended the quarter with 87,457 agents and brokers, up 5%, while transactions rose 8% and sales volume 10%. International revenue grew 27%, supporting the expansion narrative, but the global agent Net Promoter Score fell to 67 from 75, a meaningful deterioration in the metric AGNT identifies as important to its agent-experience strategy. 〔0〕
The dividend is unchanged and therefore adds little new signal. AGNT declared another $0.05-per-share quarterly dividend, consistent with the prior quarter, while cash and cash equivalents remained above $111 million and the company reported no debt. That supports financial flexibility, but weaker operating cash flow and the lower EBITDA outlook make the unchanged payout more a continuity signal than a new positive catalyst.
Bottom line: AGNT is still growing its platform and transaction base, but Q3 exposed weaker earnings quality and forced a meaningful reduction to full-year EBITDA expectations. The event modestly weakens the current expansion story rather than overturning it.
Q4 2026 earnings report
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