DALLAS, June 04, 2024 (GLOBE NEWSWIRE) -- SUCCESS® magazine is recognizing individuals and organizations making a difference in society through the 2024 SUCCESS® Changemakers awards. This program celebrates social entrepreneurs, philanthropists, activists, community leaders, NGOs, B Corporations, and companies championing social good, no matter the scale. The 2024 SUCCESS® Changemakers awards shine a global spotlight on the tireless efforts of those who are using innovation, advocacy, and action to solve so ...

DALLAS, June 04, 2024 (GLOBE NEWSWIRE) -- SUCCESS® magazine is recognizing individuals and organizations making a difference in society through the 2024 SUCCESS® Changemakers awards. This program celebrates social entrepreneurs, philanthropists, activists, community leaders, NGOs, B Corporations, and companies championing social good, no matter the scale. The 2024 SUCCESS® Changemakers awards shine a global spotlight on the tireless efforts of those who are using innovation, advocacy, and action to solve so ...

BELLINGHAM, Wash., May 28, 2024 (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 Tanya Memme, the renowned TV host, motivational speaker and former Miss World Canada, has joined its dynamic team of real estate professionals. "We are thrilled to welcome Tanya to our team as she truly embodies the spirit of eXp Realty," said Michael Valdes, Chief Growth Officer. "I am confident ...

BELLINGHAM, Wash., May 10, 2024 (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 recognized nine of eXp Realty Canada's top agents and teams for their outstanding performances in 2023 at the company's second annual eXpcon Canada. The exclusive eXpcon Canada, held May 8-10 in Toronto, Ontario, united eXp Realty's top-performing agents, industry professionals and thought leaders from the Cana ...

BELLINGHAM, Wash., May 09, 2024 (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 the launch of eXp Elevate Coaching, a state-of-the-art coaching platform designed to enhance the business growth and professional development of eXp Realty agents in North America. eXp Elevate Coaching is an advanced extension of eXp's University and Mentor programs, offering agents an array of enrich ...

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BELLINGHAM, Wash., May 02, 2024 (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), proudly announces the addition of Claudia Serna and her 500-agent independent brokerage from Broker's LLC, marking a significant merger of talent and expertise. This strategic move enhances eXp Realty's robust network and aligns with its mission to provide unparalleled opportunities for agents on a global platform. S ...

Financial Data and Key Metrics Changes - The company's revenue for Q1 2024 was $943 million, representing an 11% year-over-year increase from $849 million in Q1 2023, primarily driven by significant gains in the North America Realty segment [92][114] - Adjusted EBITDA for Q1 2024 was $11 million, down from $14.6 million in the prior year due to increased SG&A expenses [114] - The GAAP net loss for the quarter was $15.6 million, which included a $1.8 million loss from the discontinued VirBELA operation [115] Business Line Data and Key Metrics Changes - The North America Realty segment reported an 11% increase in revenue, but EBITDA declined by 16% to $80 million due to investments in personnel and increased legal and severance expenses [117] - The International Realty segment saw a revenue increase of 45%, contributing $60 million, with an adjusted EBITDA loss of $3.4 million, which was a 9% improvement from the prior year [94][100] - Overall real estate sales transaction units grew by 5% year-over-year, indicating the company is outperforming the industry [112] Market Data and Key Metrics Changes - U.S. home sales transactions were down nearly 3%, while eXp Realty's transactions increased by 2%, leading to a market share growth of nearly 5% to 4.4% of all home sales transactions in the U.S. [5][10] - The overall real estate market decline reduced revenue by approximately $11 million, but gains in other areas offset these losses [79] Company Strategy and Development Direction - The company is focused on enhancing agent productivity and operational efficiency, with a strategic decision to offboard nonproductive agents to improve overall performance [89][122] - The introduction of the REVenue Share 2.0 program aims to attract and retain agents by providing better revenue-sharing opportunities [76][95] - The company is investing in technology and innovation, including the rollout of AI agents to enhance operational capabilities and support agents [77][86] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenging market conditions due to higher interest rates and antitrust lawsuits affecting agent commissions, but expressed optimism about future growth opportunities [88][100] - The company is preparing agents for upcoming regulatory changes and is focused on maintaining a strong agent value proposition to attract productive agents [130][122] Other Important Information - General and administrative expenses increased by 15% to $63 million, primarily due to higher transaction volume and legal expenses related to antitrust litigation [91] - The company recorded a provision of $60 million for antitrust litigation, which is provisional and subject to change as cases evolve [91] Q&A Session Summary Question: What made the company decide to update the revenue share model now? - The updates were prompted by attrition among agents who were not major attractors but played a significant role in supporting the company's growth [95] Question: How is the company preparing for the mandated bio representation agreement rule change? - The company is providing agents with tactical scripts and tools to prepare for the transition, emphasizing the importance of treating buyers and sellers equally [130] Question: Can you discuss the components of the $20 million profit improvement plan? - The plan includes cost savings from personnel reductions, estimated to generate about $27 million in overall profit improvement [123]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______________________ to ______________________ Commission File Number: 001-38493 EXP WORLD HOLDINGS, INC. (Exact name of registrant as specified in i ...

"Coming off another quarter of market share gains, I couldn't be more excited to lead eXp Realty as the industry evolves," said Leo Pareja, eXp Realty CEO. "Like Glenn, I will always be an agent at heart and ensure that eXp's platform provides agents with everything they need to sell more real estate and achieve their financial goals faster than ever before. eXp Realty is the category king of the cloud-based brokerage model and the only brokerage of its kind operating at a significant scale. Our positive Ad ...