AGNT, Inc. (AGNT) · Nov 5, 2026 · Earnings

AGNT earnings miss as full-year EBITDA guidance falls

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.

MetricQ3 2026Q3 2025Consensus / 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.

What to watch next

Q4 2026 earnings report

Original filing on SEC EDGAR

More AGNT, Inc. news

AGNT earnings miss as full-year EBITDA guidance falls | AGNT Stock News
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