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Globe and Mail
31-07-2025
- Business
- Globe and Mail
eXp World Holdings Reports Q2 2025 Results
BELLINGHAM, Wash., July 31, 2025 (GLOBE NEWSWIRE) -- eXp World Holdings, Inc. (Nasdaq: EXPI), or the 'Company', the holding company for eXp Realty®, and SUCCESS® Enterprises,, today announced financial results for the second quarter ended June 30, 2025. 'eXp was built by agents, for agents and that foundation continues to fuel our momentum,' said Leo Pareja, CEO of eXp Realty. 'Our continued investments in the agent value stack and ongoing programs like the co-sponsor initiative are resonating with the best agents and teams in the industry. By putting innovation and agent opportunity at the core of everything we do, we're not only attracting the most productive agents in the industry, we're shaping a more transparent, competitive, and agent-empowered future for real estate.' 'eXp continues to demonstrate remarkable resilience in a dynamic real estate environment, underpinned by our agent-first model and commitment to innovation,' said Glenn Sanford, Founder, Chairman and CEO of eXp World Holdings. 'Our International business continues to grow rapidly, with robust agent productivity and expanding global reach that validate our platform's scalability and universal appeal. Having been deeply involved in guiding our international strategy, I'm now turning my attention to SUCCESS® Enterprises with the same focus and determination. As Publisher and Managing Director, I plan to focus on curating experiences in SUCCESS+ with the goal of expanding the brand overall. Just as we've built a thriving business across borders, I'm confident we can unlock new potential within SUCCESS® and reinvigorate it as a core driver of value for our agents and shareholders alike.' Second Quarter 2025 Consolidated Financial Highlights as Compared to the Same Year-Ago Period: Revenue increased 1% to $1.3 billion. Net loss of $(2.3) million and net loss per diluted share of $(0.01). Total operating expenses increased to $1.31 billion from $1.28 billion. Excluding commissions and other agent-related costs, adjusted operating costs 1 were $95.0 million, a 20% increase compared to the second quarter of 2024. This increase was driven by strategic investments to streamline operations and severance. Adjusted EBITDA 2 (a non-GAAP financial measure) of $11.2 million. As of June 30, 2025, cash and cash equivalents totaled $94.6 million, compared to $108.4 million as of June 30, 2024. This reflects the Company's payment of the first $17.0 million installment related to its $34.0 million antitrust litigation settlement during the fiscal quarter ended June 30, 2025. Net cash provided by operating activities of $36.1 million. Adjusted operating cash flow 3 (a non-GAAP financial measure) of $13.4 million. Distributed $32.6 million to shareholders, including $24.9 million of common stock repurchases and $7.7 million of cash dividends. The Company paid a cash dividend for the second quarter of 2025 of $0.05 per share of common stock on June 4, 2025. On July 24, 2025, the Company's Board of Directors declared a cash dividend of $0.05 per share of common stock for the third quarter of 2025, expected to be paid on August 29, 2025 to stockholders of record on August 15, 2025. _______________ 1 A discussion of why management believes adjusted operating costs, a non-GAAP measure, is useful is included below. Adjusted operating costs exclude commissions and other agent-related costs. 2 A reconciliation of adjusted EBITDA to net income and a discussion of why management believes adjusted EBITDA, a non-GAAP measure, is useful is included below. 3 A reconciliation of adjusted operating cash flow, a non-GAAP measure, to operating cash flow and a discussion of why management believes adjusted operating cash flow is useful is included below. Second Quarter 2025 Operational Highlights as Compared to the Same Year-Ago Period: eXp ended the second quarter of 2025 with a global agent Net Promoter Score ('aNPS') of 77, up from 76 in the prior-year period. aNPS is a measure of agent satisfaction and an important key performance indicator given the Company's intense focus on improving the agent experience. Agents and brokers on the eXp Realty platform decreased (5)% to 82,704 as of June 30, 2025. Real estate sales transactions decreased (2)% to 118,612 in the second quarter of 2025. Real estate sales volume increased 1% to $52.5 billion in the second quarter of 2025. Second Quarter 2025 Results – Virtual Fireside Chat The Company will hold a virtual fireside chat and investor Q&A with eXp World Holdings Founder and Chief Executive Officer Glenn Sanford, eXp Realty Chief Executive Officer Leo Pareja, eXp Realty Chief Marketing Officer Wendy Forsythe, Managing Director eXp Realty International Felix Bravo, and eXp World Holdings Chief Financial Officer Jesse Hill on Thursday, July 31, 2025 at 2 p.m. PT / 5 p.m. ET. The investor Q&A is open to investors, current shareholders and anyone interested in learning more about eXp World Holdings and its companies. Submit questions in advance for inclusion to investors@ Date: Thursday, July 31, 2025 Time: 2 p.m. PT / 5 p.m. ET Location: Join at Livestream: About eXp World Holdings, Inc. eXp World Holdings, Inc. (Nasdaq: EXPI) (the 'Company') is the holding company for eXp Realty ® and SUCCESS ® Enterprises. eXp Realty is the largest independent real estate brokerage in the world, with over 82,000 agents across 28 countries. As a cloud-based, agent-centric brokerage, eXp Realty provides real estate agents industry-leading commission splits, revenue share, equity ownership opportunities, and a global network that empowers agents to build thriving businesses. For more information about eXp World Holdings, Inc., visit: SUCCESS ® Enterprises, anchored by SUCCESS ® magazine, has been a trusted name in personal and professional development since 1897. As part of the eXp ecosystem, it offers agents access to valuable resources to enhance their skills, grow their businesses, and achieve long-term success. For more information about SUCCESS, visit eXp World Holdings, Inc. intends to use its: eXp investors website ( eXp Realty LinkedIn page ( eXp Realty Facebook Page ( eXp Realty Instagram Page ( eXp International LinkedIn Page ( eXp International Facebook Page ( eXp International Instagram Page ( eXp World Holdings LinkedIn page ( eXp World Holdings Facebook Page ( and eXp World Holdings Instagram Page ( as a means of disclosing material non-public information and to comply with its disclosure obligations under Regulation FD. Use of Non-GAAP Financial Measures To provide investors with additional information regarding our financial results, this press release includes references to adjusted operating costs, adjusted EBITDA, and adjusted operating cash flow which are non-U.S. GAAP financial measures that may be different from similarly titled measures used by other companies. These measures are presented to enhance investors' overall understanding of the Company's financial performance and should not be considered a substitute for, or superior to, the financial information prepared and presented in accordance with U.S. GAAP. The Company's non-U.S. GAAP financial measures provide useful information about financial performance, enhance the overall understanding of past performance and future prospects, and allow for greater transparency with respect to key metrics used by management for financial and operational decision-making. These measures may also provide additional tools for investors to use in comparing core financial performance over multiple periods with other companies in the industry. Adjusted operating costs helps the reader understand the trends in our general, administrative, technology and other costs. The Company defines adjusted operating costs as operating costs excluding commissions and other agent-related costs and the litigation contingency. Adjusted EBITDA helps identify underlying trends in the business that could otherwise be masked by the effect of the expenses excluded in adjusted EBITDA. In particular, the Company believes the exclusion of stock-based compensation and stock option expenses provides a useful supplemental measure in evaluating the performance of operations and provides better transparency into results of operations. The Company defines adjusted EBITDA to mean net income (loss) from continuing operations, excluding other income (expense), income tax benefit (expense), depreciation, amortization, impairment charges, litigation contingency expenses, stock-based compensation expense, stock option expense and other items not core to the operating activities of the Company. Adjusted operating cash flow helps the reader understand the Company's cash flow. The Company defines the adjusted operating cash flow to mean net cash provided by operating activities, excluding the change in customer deposits. Adjusted operating costs, adjusted EBITDA, and adjusted operating cash flow should not be considered in isolation from, or as a substitute for, financial information prepared in accordance with U.S. GAAP. Safe Harbor Statement This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements reflect the Company's and its management's current expectations but involve known and unknown risks and uncertainties that could impact actual results materially. These statements include, but are not limited to, statements regarding international expansion; expansion of the SUCCESS brand; revenue growth; dividends; additions of teams and agents in the future; technology development; and financial performance. Important factors that may cause actual results to differ materially and adversely from those expressed in forward-looking statements include real estate market fluctuations, changes in agent retention or recruitment, the Company's ability to expand successfully in international markets; the Company's ability to successfully develop the SUCCESS brand; competitive pressures; regulatory changes; outcomes of ongoing litigation; and other risks detailed from time to time in the Company's Securities and Exchange Commission filings, including but not limited to the Company's most recently filed Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q. New risk factors and uncertainties may emerge from time to time, and it is not possible for management to predict all risk factors and uncertainties. We do not undertake any obligation to update these statements except as required by law. EXP WORLD HOLDINGS, INC. (In thousands, except share amounts and per share data) Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 Revenues $ 1,308,877 $ 1,295,244 $ 2,263,783 $ 2,238,298 Commissions and other agent-related costs 1,216,223 1,197,668 2,094,994 2,062,414 General and administrative expenses 74,076 61,160 140,947 123,742 Technology and development expenses 18,093 14,848 34,898 29,609 Sales and marketing expenses 2,861 3,031 5,696 6,170 Litigation contingency - - - 16,000 Total operating expenses 1,311,253 1,276,707 2,276,535 2,237,935 Operating (loss) income (2,376) 18,537 (12,752) 363 Other (income) expense Other (income) expense, net (760) (1,749) (1,703) (2,937) Equity in (income) losses of unconsolidated affiliates 207 374 127 523 Total other (income) expense, net (553) (1,375) (1,576) (2,414) (Loss) income before income tax expense (1,823) 19,912 (11,176) 2,777 Income tax (benefit) expense 468 8,146 2,139 4,841 Net (loss) income from continuing operations (2,291) 11,766 (13,315) (2,064) Net (loss) income from discontinued operations - 617 - (1,192) Net (loss) income $ (2,291) $ 12,383 $ (13,315) $ (3,256) Earnings (loss) per share Basic, net (loss) income from continuing operations $ (0.01) $ 0.08 $ (0.09) $ (0.01) Basic, net (loss) income from discontinued operations - - - (0.01) Basic, net (loss) income $ (0.01) $ 0.08 $ (0.09) $ (0.02) Diluted, net (loss) income from continuing operations $ (0.01) $ 0.08 $ (0.09) $ (0.01) Diluted, net (loss) income from discontinued operations - - - (0.01) Diluted, net (loss) income $ (0.01) $ 0.08 $ (0.09) $ (0.02) Weighted average shares outstanding Basic 156,091,692 153,580,879 155,418,668 154,160,607 Diluted 156,091,692 155,984,147 155,418,668 154,160,607 (In thousands, except share amounts) June 30, 2025 December 31, 2024 ASSETS CURRENT ASSETS Cash and cash equivalents $ 94,551 $ 113,607 Restricted cash 90,383 54,981 Accounts receivable, net of allowance for credit losses of $2,271 and $1,589, respectively 146,193 87,692 Prepaids and other assets 13,830 11,692 TOTAL CURRENT ASSETS 344,957 267,972 Property, plant, and equipment, net 13,434 11,615 Other noncurrent assets 22,075 11,679 Intangible assets, net 5,338 6,456 Deferred tax assets, net 77,557 75,774 Goodwill 17,885 17,226 TOTAL ASSETS $ 481,246 $ 390,722 LIABILITIES AND EQUITY CURRENT LIABILITIES Accounts payable $ 11,286 $ 10,478 Customer deposits 90,004 55,660 Accrued expenses 144,576 85,661 Litigation contingency 17,000 34,000 Other current liabilities 14 54 TOTAL CURRENT LIABILITIES 262,880 185,853 TOTAL LIABILITIES 262,880 185,853 EQUITY Common Stock, $0.00001 par value 900,000,000 shares authorized; 201,449,583 issued and 157,232,312 outstanding at June 30, 2025; 195,028,207 issued and 154,133,385 outstanding at December 31, 2024 2 2 Additional paid-in capital 1,031,660 962,758 Treasury stock, at cost: 44,217,271 and 40,894,822 shares held, respectively (716,549) (686,680) Accumulated deficit (96,723) (68,135) Accumulated other comprehensive (loss) (24) (3,076) TOTAL EQUITY 218,366 204,869 TOTAL LIABILITIES AND EQUITY $ 481,246 $ 390,722 EXP WORLD HOLDINGS, INC. (In thousands) Six Months Ended June 30, 2025 2024 OPERATING ACTIVITIES Net (loss) income $ (13,315) $ (3,256) Reconciliation of net income (loss) to net cash provided by operating activities: Depreciation expense 3,532 3,950 Amortization expense - intangible assets 1,301 1,413 Allowance for credit losses on receivables/bad debt on receivables 682 (677) Equity in (income) loss of unconsolidated affiliates 127 523 Agent growth incentive stock-based compensation expense 17,734 18,157 Stock option compensation 3,454 3,975 Agent equity stock-based compensation expense 47,559 56,456 Deferred income taxes, net (1,783) 2,337 Changes in operating assets and liabilities: Accounts receivable (58,033) (48,871) Prepaids and other assets (2,138) 1,841 Customer deposits 34,344 41,946 Accounts payable 808 2,741 Accrued expenses 58,694 35,243 Litigation contingency (17,000) 16,000 Other operating activities (40) 23 NET CASH PROVIDED BY OPERATING ACTIVITIES 75,926 131,801 INVESTING ACTIVITIES Purchases of property and equipment (5,351) (2,772) Purchase of business (3,150) Investments in unconsolidated affiliates (11,673) (3,938) Capitalized software development costs in intangible assets (183) (509) NET CASH USED IN INVESTING ACTIVITIES (17,207) (10,369) FINANCING ACTIVITIES Repurchase of common stock (29,869) (81,266) Proceeds from exercise of options 376 1,052 Transactions with noncontrolling interests - (1,169) Dividends declared and paid (15,273) (15,075) NET CASH USED IN FINANCING ACTIVITIES (44,766) (96,458) Effect of changes in exchange rates on cash, cash equivalents and restricted cash 2,393 (1,346) Net change in cash, cash equivalents and restricted cash 16,346 23,628 Cash, cash equivalents and restricted cash, beginning balance 168,588 169,893 CASH, CASH EQUIVALENTS AND RESTRICTED CASH, ENDING BALANCE $ 184,934 $ 193,521 SUPPLEMENTAL DISCLOSURE OF CASH FLOWS INFORMATION: Cash paid for income taxes 2,014 1,542 SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES: Property and equipment purchases in accounts payable 161 - A photo accompanying this announcement is available at
Yahoo
31-07-2025
- Business
- Yahoo
eXp World Holdings Reports Q2 2025 Results
eXp World Holdings Reports Q2 2025 Results BELLINGHAM, Wash., July 31, 2025 (GLOBE NEWSWIRE) -- eXp World Holdings, Inc. (Nasdaq: EXPI), or the 'Company', the holding company for eXp Realty®, and SUCCESS® Enterprises,, today announced financial results for the second quarter ended June 30, 2025. 'eXp was built by agents, for agents and that foundation continues to fuel our momentum,' said Leo Pareja, CEO of eXp Realty. 'Our continued investments in the agent value stack and ongoing programs like the co-sponsor initiative are resonating with the best agents and teams in the industry. By putting innovation and agent opportunity at the core of everything we do, we're not only attracting the most productive agents in the industry, we're shaping a more transparent, competitive, and agent-empowered future for real estate.' 'eXp continues to demonstrate remarkable resilience in a dynamic real estate environment, underpinned by our agent-first model and commitment to innovation,' said Glenn Sanford, Founder, Chairman and CEO of eXp World Holdings. 'Our International business continues to grow rapidly, with robust agent productivity and expanding global reach that validate our platform's scalability and universal appeal. Having been deeply involved in guiding our international strategy, I'm now turning my attention to SUCCESS® Enterprises with the same focus and determination. As Publisher and Managing Director, I plan to focus on curating experiences in SUCCESS+ with the goal of expanding the brand overall. Just as we've built a thriving business across borders, I'm confident we can unlock new potential within SUCCESS® and reinvigorate it as a core driver of value for our agents and shareholders alike.' Second Quarter 2025 Consolidated Financial Highlights as Compared to the Same Year-Ago Period: Revenue increased 1% to $1.3 billion. Net loss of $(2.3) million and net loss per diluted share of $(0.01). Total operating expenses increased to $1.31 billion from $1.28 billion. Excluding commissions and other agent-related costs, adjusted operating costs1 were $95.0 million, a 20% increase compared to the second quarter of 2024. This increase was driven by strategic investments to streamline operations and severance. Adjusted EBITDA2 (a non-GAAP financial measure) of $11.2 million. As of June 30, 2025, cash and cash equivalents totaled $94.6 million, compared to $108.4 million as of June 30, 2024. This reflects the Company's payment of the first $17.0 million installment related to its $34.0 million antitrust litigation settlement during the fiscal quarter ended June 30, 2025. Net cash provided by operating activities of $36.1 million. Adjusted operating cash flow3 (a non-GAAP financial measure) of $13.4 million. Distributed $32.6 million to shareholders, including $24.9 million of common stock repurchases and $7.7 million of cash dividends. The Company paid a cash dividend for the second quarter of 2025 of $0.05 per share of common stock on June 4, 2025. On July 24, 2025, the Company's Board of Directors declared a cash dividend of $0.05 per share of common stock for the third quarter of 2025, expected to be paid on August 29, 2025 to stockholders of record on August 15, 2025. _______________1 A discussion of why management believes adjusted operating costs, a non-GAAP measure, is useful is included below. Adjusted operating costs exclude commissions and other agent-related costs.2 A reconciliation of adjusted EBITDA to net income and a discussion of why management believes adjusted EBITDA, a non-GAAP measure, is useful is included below.3 A reconciliation of adjusted operating cash flow, a non-GAAP measure, to operating cash flow and a discussion of why management believes adjusted operating cash flow is useful is included below. Second Quarter 2025 Operational Highlights as Compared to the Same Year-Ago Period: eXp ended the second quarter of 2025 with a global agent Net Promoter Score ('aNPS') of 77, up from 76 in the prior-year period. aNPS is a measure of agent satisfaction and an important key performance indicator given the Company's intense focus on improving the agent experience. Agents and brokers on the eXp Realty platform decreased (5)% to 82,704 as of June 30, 2025. Real estate sales transactions decreased (2)% to 118,612 in the second quarter of 2025. Real estate sales volume increased 1% to $52.5 billion in the second quarter of 2025. Second Quarter 2025 Results – Virtual Fireside Chat The Company will hold a virtual fireside chat and investor Q&A with eXp World Holdings Founder and Chief Executive Officer Glenn Sanford, eXp Realty Chief Executive Officer Leo Pareja, eXp Realty Chief Marketing Officer Wendy Forsythe, Managing Director eXp Realty International Felix Bravo, and eXp World Holdings Chief Financial Officer Jesse Hill on Thursday, July 31, 2025 at 2 p.m. PT / 5 p.m. ET. The investor Q&A is open to investors, current shareholders and anyone interested in learning more about eXp World Holdings and its companies. Submit questions in advance for inclusion to investors@ Date: Thursday, July 31, 2025 Time: 2 p.m. PT / 5 p.m. ET Location: Join at Livestream: About eXp World Holdings, World Holdings, Inc. (Nasdaq: EXPI) (the 'Company') is the holding company for eXp Realty® and SUCCESS® Enterprises. eXp Realty is the largest independent real estate brokerage in the world, with over 82,000 agents across 28 countries. As a cloud-based, agent-centric brokerage, eXp Realty provides real estate agents industry-leading commission splits, revenue share, equity ownership opportunities, and a global network that empowers agents to build thriving businesses. For more information about eXp World Holdings, Inc., visit: SUCCESS® Enterprises, anchored by SUCCESS® magazine, has been a trusted name in personal and professional development since 1897. As part of the eXp ecosystem, it offers agents access to valuable resources to enhance their skills, grow their businesses, and achieve long-term success. For more information about SUCCESS, visit eXp World Holdings, Inc. intends to use its: eXp investors website ( eXp Realty LinkedIn page ( eXp Realty Facebook Page ( eXp Realty Instagram Page ( eXp International LinkedIn Page ( eXp International Facebook Page ( eXp International Instagram Page ( eXp World Holdings LinkedIn page ( eXp World Holdings Facebook Page ( and eXp World Holdings Instagram Page ( as a means of disclosing material non-public information and to comply with its disclosure obligations under Regulation FD. Use of Non-GAAP Financial Measures To provide investors with additional information regarding our financial results, this press release includes references to adjusted operating costs, adjusted EBITDA, and adjusted operating cash flow which are non-U.S. GAAP financial measures that may be different from similarly titled measures used by other companies. These measures are presented to enhance investors' overall understanding of the Company's financial performance and should not be considered a substitute for, or superior to, the financial information prepared and presented in accordance with U.S. GAAP. The Company's non-U.S. GAAP financial measures provide useful information about financial performance, enhance the overall understanding of past performance and future prospects, and allow for greater transparency with respect to key metrics used by management for financial and operational decision-making. These measures may also provide additional tools for investors to use in comparing core financial performance over multiple periods with other companies in the industry. Adjusted operating costs helps the reader understand the trends in our general, administrative, technology and other costs. The Company defines adjusted operating costs as operating costs excluding commissions and other agent-related costs and the litigation contingency. Adjusted EBITDA helps identify underlying trends in the business that could otherwise be masked by the effect of the expenses excluded in adjusted EBITDA. In particular, the Company believes the exclusion of stock-based compensation and stock option expenses provides a useful supplemental measure in evaluating the performance of operations and provides better transparency into results of operations. The Company defines adjusted EBITDA to mean net income (loss) from continuing operations, excluding other income (expense), income tax benefit (expense), depreciation, amortization, impairment charges, litigation contingency expenses, stock-based compensation expense, stock option expense and other items not core to the operating activities of the Company. Adjusted operating cash flow helps the reader understand the Company's cash flow. The Company defines the adjusted operating cash flow to mean net cash provided by operating activities, excluding the change in customer deposits. Adjusted operating costs, adjusted EBITDA, and adjusted operating cash flow should not be considered in isolation from, or as a substitute for, financial information prepared in accordance with U.S. GAAP. Safe Harbor Statement This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements reflect the Company's and its management's current expectations but involve known and unknown risks and uncertainties that could impact actual results materially. These statements include, but are not limited to, statements regarding international expansion; expansion of the SUCCESS brand; revenue growth; dividends; additions of teams and agents in the future; technology development; and financial performance. Important factors that may cause actual results to differ materially and adversely from those expressed in forward-looking statements include real estate market fluctuations, changes in agent retention or recruitment, the Company's ability to expand successfully in international markets; the Company's ability to successfully develop the SUCCESS brand; competitive pressures; regulatory changes; outcomes of ongoing litigation; and other risks detailed from time to time in the Company's Securities and Exchange Commission filings, including but not limited to the Company's most recently filed Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q. New risk factors and uncertainties may emerge from time to time, and it is not possible for management to predict all risk factors and uncertainties. We do not undertake any obligation to update these statements except as required by law. Media Relations Contact:eXp World Holdings, Investor Relations Contact:Denise Garciainvestors@ EXP WORLD HOLDINGS, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 Revenues $ 1,308,877 $ 1,295,244 $ 2,263,783 $ 2,238,298 Commissions and other agent-related costs 1,216,223 1,197,668 2,094,994 2,062,414 General and administrative expenses 74,076 61,160 140,947 123,742 Technology and development expenses 18,093 14,848 34,898 29,609 Sales and marketing expenses 2,861 3,031 5,696 6,170 Litigation contingency - - - 16,000 Total operating expenses 1,311,253 1,276,707 2,276,535 2,237,935 Operating (loss) income (2,376 ) 18,537 (12,752 ) 363 Other (income) expense Other (income) expense, net (760 ) (1,749 ) (1,703 ) (2,937 ) Equity in (income) losses of unconsolidated affiliates 207 374 127 523 Total other (income) expense, net (553 ) (1,375 ) (1,576 ) (2,414 ) (Loss) income before income tax expense (1,823 ) 19,912 (11,176 ) 2,777 Income tax (benefit) expense 468 8,146 2,139 4,841 Net (loss) income from continuing operations (2,291 ) 11,766 (13,315 ) (2,064 ) Net (loss) income from discontinued operations - 617 - (1,192 ) Net (loss) income $ (2,291 ) $ 12,383 $ (13,315 ) $ (3,256 ) Earnings (loss) per share Basic, net (loss) income from continuing operations $ (0.01 ) $ 0.08 $ (0.09 ) $ (0.01 ) Basic, net (loss) income from discontinued operations - - - (0.01 ) Basic, net (loss) income $ (0.01 ) $ 0.08 $ (0.09 ) $ (0.02 ) Diluted, net (loss) income from continuing operations $ (0.01 ) $ 0.08 $ (0.09 ) $ (0.01 ) Diluted, net (loss) income from discontinued operations - - - (0.01 ) Diluted, net (loss) income $ (0.01 ) $ 0.08 $ (0.09 ) $ (0.02 ) Weighted average shares outstanding Basic 156,091,692 153,580,879 155,418,668 154,160,607 Diluted 156,091,692 155,984,147 155,418,668 154,160,607 CONSOLIDATED US-GAAP NET (LOSS) INCOME TO ADJUSTED EBITDA RECONCILIATION Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 Net (loss) income from continuing operations $ (2,291 ) $ 11,766 $ (13,315 ) $ (2,064 ) Total other (income) expense, net (553 ) (1,375 ) (1,576 ) (2,414 ) Income tax (benefit) expense 468 8,146 2,139 4,841 Depreciation and amortization 2,272 2,963 4,833 5,363 Litigation contingency — — — 16,000 Stock-based compensation expense (1) 9,703 9,329 17,821 18,157 Stock option expense 1,602 1,985 3,454 3,975 Adjusted EBITDA $ 11,201 $ 32,814 $ 13,356 $ 43,858 ADJUSTED OPERATING CASH FLOW Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 Net Cash Provided by Operating Activities $ 36,088 $ 71,147 $ 75,926 $ 131,801 Less: Customer Deposits 22,659 10,707 34,344 41,946 Adjusted Operating Cash Flow $ 13,429 $ 60,440 $ 41,582 $ 89,855 EXP WORLD HOLDINGS, INC. CONDENSED CONSOLIDATED BALANCE SHEETS June 30, 2025 December 31, 2024 ASSETS CURRENT ASSETS Cash and cash equivalents $ 94,551 $ 113,607 Restricted cash 90,383 54,981 Accounts receivable, net of allowance for credit losses of $2,271 and $1,589, respectively 146,193 87,692 Prepaids and other assets 13,830 11,692 TOTAL CURRENT ASSETS 344,957 267,972 Property, plant, and equipment, net 13,434 11,615 Other noncurrent assets 22,075 11,679 Intangible assets, net 5,338 6,456 Deferred tax assets, net 77,557 75,774 Goodwill 17,885 17,226 TOTAL ASSETS $ 481,246 $ 390,722 LIABILITIES AND EQUITY CURRENT LIABILITIES Accounts payable $ 11,286 $ 10,478 Customer deposits 90,004 55,660 Accrued expenses 144,576 85,661 Litigation contingency 17,000 34,000 Other current liabilities 14 54 TOTAL CURRENT LIABILITIES 262,880 185,853 TOTAL LIABILITIES 262,880 185,853 EQUITY Common Stock, $0.00001 par value 900,000,000 shares authorized; 201,449,583 issued and 157,232,312 outstanding at June 30, 2025; 195,028,207 issued and 154,133,385 outstanding at December 31, 2024 2 2 Additional paid-in capital 1,031,660 962,758 Treasury stock, at cost: 44,217,271 and 40,894,822 shares held, respectively (716,549 ) (686,680 ) Accumulated deficit (96,723 ) (68,135 ) Accumulated other comprehensive (loss) (24 ) (3,076 ) TOTAL EQUITY 218,366 204,869 TOTAL LIABILITIES AND EQUITY $ 481,246 $ 390,722 EXP WORLD HOLDINGS, INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS Six Months Ended June 30, 2025 2024 OPERATING ACTIVITIES Net (loss) income $ (13,315 ) $ (3,256 ) Reconciliation of net income (loss) to net cash provided by operating activities: Depreciation expense 3,532 3,950 Amortization expense - intangible assets 1,301 1,413 Allowance for credit losses on receivables/bad debt on receivables 682 (677 ) Equity in (income) loss of unconsolidated affiliates 127 523 Agent growth incentive stock-based compensation expense 17,734 18,157 Stock option compensation 3,454 3,975 Agent equity stock-based compensation expense 47,559 56,456 Deferred income taxes, net (1,783 ) 2,337 Changes in operating assets and liabilities: Accounts receivable (58,033 ) (48,871 ) Prepaids and other assets (2,138 ) 1,841 Customer deposits 34,344 41,946 Accounts payable 808 2,741 Accrued expenses 58,694 35,243 Litigation contingency (17,000 ) 16,000 Other operating activities (40 ) 23 NET CASH PROVIDED BY OPERATING ACTIVITIES 75,926 131,801 INVESTING ACTIVITIES Purchases of property and equipment (5,351 ) (2,772 ) Purchase of business (3,150 ) Investments in unconsolidated affiliates (11,673 ) (3,938 ) Capitalized software development costs in intangible assets (183 ) (509 ) NET CASH USED IN INVESTING ACTIVITIES (17,207 ) (10,369 ) FINANCING ACTIVITIES Repurchase of common stock (29,869 ) (81,266 ) Proceeds from exercise of options 376 1,052 Transactions with noncontrolling interests - (1,169 ) Dividends declared and paid (15,273 ) (15,075 ) NET CASH USED IN FINANCING ACTIVITIES (44,766 ) (96,458 ) Effect of changes in exchange rates on cash, cash equivalents and restricted cash 2,393 (1,346 ) Net change in cash, cash equivalents and restricted cash 16,346 23,628 Cash, cash equivalents and restricted cash, beginning balance 168,588 169,893 CASH, CASH EQUIVALENTS AND RESTRICTED CASH, ENDING BALANCE $ 184,934 $ 193,521 SUPPLEMENTAL DISCLOSURE OF CASH FLOWS INFORMATION: Cash paid for income taxes 2,014 1,542 SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES: Property and equipment purchases in accounts payable 161 - A photo accompanying this announcement is available at
Hamilton Spectator
30-07-2025
- Business
- Hamilton Spectator
Luxury Powerhouse Brett Zebrowski Joins eXp Realty; His 90-Agent Boutique Closed $750M in 2024
BELLINGHAM, Wash., July 30, 2025 (GLOBE NEWSWIRE) — eXp Realty®, 'the most agent-centric™ real estate brokerage on the planet' and the core subsidiary of eXp World Holdings, Inc. (Nasdaq: EXPI), today announced that Palm Realty Boutique, a powerhouse independent brokerage in Southern California founded by Brett Zebrowski, has joined eXp Realty. In 2024, Zebrowski's 90-agent team generated $750 million in sales on 370 units. The boutique firm will join eXp's luxury division, continuing its legacy of serving high-end clientele throughout the South Bay, Playa Del Rey, and Beverly Hills. Zebrowski, a Cleveland-born, Virginia-raised entrepreneur who built Palm Realty Boutique from the ground up, said the decision to align with eXp came down to one thing: scale without sacrifice. 'We've been courted by national brokerages for years, but I never wanted to lose what made us special,' said Zebrowski. 'eXp lets us keep our brand, our culture, and everything we've built and then gives us a Ferrari engine to power it further. We now have the tech, tools, and global platform to amplify everything we do best.' The move to eXp allows Palm Realty Boutique to maintain its identity and white-glove service model while gaining the operational horsepower of the world's most agent-centric brokerage. Zebrowski, who also founded PIER Escrow and the Zebrowski Group, was particularly impressed by eXp's leadership and human-centered support. 'Every person I spoke to at eXp, from CEO Leo Pareja to the growth team, gave me their time and attention. That meant something. We're aligning with a company that's profitable, proven, and built to adapt to the future. This is about smart growth.' Leo Pareja, CEO of eXp Realty, praised Zebrowski's decision and the cultural alignment. 'Brett and his team represent the best of boutique luxury real estate; high-touch service, deep community roots, and incredible results,' said Pareja. 'At eXp, we empower leaders like Brett to keep doing what makes them great while removing the barriers to scaling even further. We're proud to welcome Palm Realty Boutique to eXp.' Palm Realty Boutique's agents, already entrenched in celebrity and ultra-luxury real estate, will now have access to eXp Luxury's global referral network, cutting-edge marketing tools, and wealth-building opportunities through revenue share and equity. 'This isn't a goodbye to who we are,' he said. 'It's a hello to what we can become.' About eXp World Holdings, Inc. eXp World Holdings, Inc. (Nasdaq: EXPI) (the 'Company') is the holding company for eXp Realty® and SUCCESS® Enterprises. eXp Realty is the largest independent real estate brokerage in the world, with nearly 81,000 agents across 28 countries. As a cloud-based, agent-centric brokerage, eXp Realty provides real estate agents industry-leading commission splits, revenue share, equity ownership opportunities, and a global network that empowers agents to build thriving businesses. For more information about eXp World Holdings, Inc., visit: . SUCCESS® Enterprises, anchored by SUCCESS® magazine, has been a trusted name in personal and professional development since 1897. As part of the eXp ecosystem, it offers agents access to valuable resources to enhance their skills, grow their businesses, and achieve long-term success. For more information about SUCCESS, visit . Safe Harbor and Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements reflect the Company's and its management's current expectations but involve known and unknown risks and uncertainties that could impact actual results materially. These statements include, but are not limited to, statements regarding the anticipated success of agents or teams joining eXp Realty, future production goals or volume projections, and participation in or benefits derived from the Company's platform, tools, compensation model, or equity programs. Important factors that may cause actual results to differ materially and adversely from those expressed in forward-looking statements include real estate market fluctuations, changes in agent retention or recruitment, competitive pressures, regulatory changes, and other risks detailed from time to time in the Company's Securities and Exchange Commission filings, including but not limited to the most recently filed Quarterly Reports on Form 10-Q and Annual Report on Form 10-K. We do not undertake any obligation to update these statements except as required by law. Media Relations Contact: eXp World Holdings, Inc. mediarelations@ Investor Relations Contact: Denise Garcia investors@ A photo accompanying this announcement is available at
Globe and Mail
01-07-2025
- Business
- Globe and Mail
eXp Realty Empowers Agents with CRM of Choice, Advancing Technology Freedom and Business Autonomy
Agents across the U.S., Puerto Rico, and Canada now have the freedom to select the CRM that best supports their business BELLINGHAM, Wash., July 01, 2025 (GLOBE NEWSWIRE) -- eXp Realty ®, the largest independent real estate brokerage in the world and a subsidiary of eXp World Holdings, Inc. (Nasdaq: EXPI), today announced the official launch of CRM of Choice, a strategic technology initiative that reinforces eXp's commitment to agent autonomy and innovation. This transformative offering allows eXp agents to select the customer relationship management (CRM) platform that best aligns with their unique business strategies. Agents can now choose from three leading platforms: BoldTrail (a fully rebuilt version of kvCORE), Cloze, or Lofty. All included in the company's standard monthly fee. 'At eXp Realty, we believe the agent is the brand,' said Leo Pareja, CEO of eXp Realty. 'I've said it before and I'll say it again. Our agents are the heartbeat of their communities. They are the trusted guides, the business builders, and the go-to resource for real estate expertise. With CRM of Choice, we are doubling down on our belief that true empowerment means giving agents freedom. Not just in branding but in technology. This is about giving you direct control of the tools that power your pipeline, fuel your growth, and shape your legacy.' Each CRM serves a distinct agent profile: BoldTrail offers AI-driven automation, IDX websites, and intelligent lead scoring designed for top producers and solo agents seeking scale. Cloze is a seamless, mobile-first experience built for referral-based agents who prioritize relationship depth and simplicity. Lofty provides advanced lead routing, SEO-optimized websites, and robust campaign tools ideal for lead-focused teams and high-volume operations. CRM of Choice is already gaining traction, with thousands of agents opting in ahead of today's launch. About eXp World Holdings, Inc. eXp World Holdings, Inc. (Nasdaq: EXPI) is the holding company for eXp Realty ® and SUCCESS ® Enterprises. eXp Realty is the largest independent real estate brokerage in the world, with more than 81,000 agents across 27 countries. As a cloud-based, agent-centric brokerage, eXp Realty provides real estate agents with industry-leading commission splits, revenue share, equity ownership opportunities and a global network that empowers agents to build thriving businesses. For more information, visit SUCCESS ® Enterprises, anchored by SUCCESS ® magazine, has been a trusted name in personal and professional development since 1897. As part of the eXp ecosystem, it offers agents access to valuable resources to enhance their skills, grow their businesses and achieve long-term success. For more information, visit Safe Harbor and Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements reflect the company's and its management's current expectations but involve known and unknown risks and uncertainties that could materially impact actual results. These statements include, but are not limited to, anticipated success of agents or teams joining eXp Realty, future production goals or volume projections, and participation in or benefits from the company's platform, tools, compensation model or equity programs. Important factors that may cause actual results to differ materially and adversely from those expressed in forward-looking statements include the availability of technology platforms, competitive pressures, and other risks detailed in the company's filings with the Securities and Exchange Commission, including its most recent quarterly and annual reports. The company undertakes no obligation to update these statements except as required by law. Investor Relations Denise Garcia investors@ A photo accompanying this announcement is available at
Hamilton Spectator
16-06-2025
- Business
- Hamilton Spectator
eXp Realty Places 61 Agents and Teams on NAHREP's Top 250 Latino Agents List
BELLINGHAM, Wash., June 16, 2025 (GLOBE NEWSWIRE) — eXp Realty®, 'the most agent-centric real estate brokerage on the planet™' and the core subsidiary of eXp World Holdings, Inc. (Nasdaq: EXPI), today announced a milestone achievement as 61 eXp Realty agents and teams have earned placements across the 2025 National Association of Hispanic Real Estate Professionals (NAHREP) Top 250 Latino Agents and Teams list. eXp Realty dominated the rankings, with nearly 1 in 10 of NAHREP's Top 100 Latino Teams led by eXp agents, and 1 in 10 individual honorees overall affiliated with the brokerage. Also notable is that three eXp Realty teams are among the 2025 Top 10 Latino Teams, including: Notable eXp Agents on the Top 250 Latino Agents list: 'We are incredibly proud to see so many eXp agents and teams honored on the NAHREP Top 250 list. This recognition reflects our commitment to fostering an inclusive platform where high-performing Latino professionals can thrive and grow their businesses without limits,' said Leo Pareja, CEO of eXp Realty. 'This is personal for me – as the first Hispanic CEO of a major brokerage, I know how vital representation is. Our agents continue to set the standard for excellence across the industry.' eXp's placement on the Top 250 list surpasses traditional industry giants such as Keller Williams, Coldwell Banker, and Century 21, reaffirming the strength and growth of its inclusive and agent-first model. The annual NAHREP Top 250 Awards spotlight the nation's top-performing Latino real estate agents and mortgage originators. Honorees are selected through broker-verified self-nominations, with final rankings confirmed through MLS and franchise data. NAHREP membership is not required to participate. About eXp World Holdings, Inc. eXp World Holdings, Inc. (Nasdaq: EXPI) (the 'Company') is the holding company for eXp Realty® and SUCCESS® Enterprises. eXp Realty is the largest independent real estate brokerage in the world, with over 81,000 agents across 27 countries. As a cloud-based, agent-centric brokerage, eXp Realty provides real estate agents industry-leading commission splits, revenue share, equity ownership opportunities, and a global network that empowers agents to build thriving businesses. For more information about eXp World Holdings, Inc., visit: SUCCESS® Enterprises, anchored by SUCCESS® magazine, has been a trusted name in personal and professional development since 1897. As part of the eXp ecosystem, it offers agents access to valuable resources to enhance their skills, grow their businesses, and achieve long-term success. For more information about SUCCESS, visit . Safe Harbor and Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements reflect the Company's and its management's current expectations but involve known and unknown risks and uncertainties that could impact actual results materially. These statements include, but are not limited to, statements regarding the anticipated success of agents or teams joining eXp Realty, future production goals or volume projections, and participation in or benefits derived from the Company's platform, tools, compensation model, or equity programs. Important factors that may cause actual results to differ materially and adversely from those expressed in forward-looking statements include real estate market fluctuations, changes in agent retention or recruitment, the Company's ability to expand successfully in international markets, competitive pressures, regulatory changes, and other risks detailed from time to time in the Company's Securities and Exchange Commission filings, including but not limited to the most recently filed Quarterly Reports on Form 10-Q and Annual Report on Form 10-K. We do not undertake any obligation to update these statements except as required by law. Media Relations Contact: eXp World Holdings, Inc. mediarelations@ Investor Relations Contact: Denise Garcia investors@ A photo accompanying this announcement is available at
