Financial Performance - Revenues for Q1 2024 were $943.1 million, an 11% increase from $848.5 million in Q1 2023 [104]. - Revenues for the three months ended March 31, 2024, increased by 11% to $943,054, compared to $848,453 for the same period in 2023, driven by higher real estate transactions and increased home sales prices [117]. - Commissions and other agent-related costs rose by 11% to $864,746, primarily due to the increase in real estate transactions and home sales prices [118]. - General and administrative expenses increased by 15% to $62,582, attributed to higher severance, employee-related expenses, and legal costs related to antitrust lawsuits [119]. - The operating loss for Q1 2024 was $18.2 million, compared to an operating profit of $0.2 million in Q1 2023, largely due to a $16 million litigation contingency accrual [114]. - Adjusted EBITDA for Q1 2024 was $11.0 million, down 24% from $14.6 million in Q1 2023 [115]. - Adjusted EBITDA decreased by 24% to $11,042, reflecting increased legal and employee-related expenses, despite higher revenues [126]. - North American Realty revenues increased by 11% to $927,137, while Adjusted EBITDA decreased by 16% due to rising legal and severance costs [128]. - International Realty revenues surged by 45% to $15,596, with Adjusted EBITDA improving by 9% due to increased revenue, partially offset by higher operational expenses [129]. - Other Affiliated Services revenues grew by 7% to $1,788, but Adjusted EBITDA decreased by 13% due to increased selling and administrative expenses [130]. - For the three months ended March 31, 2024, the company reported a net loss from continuing operations of $13.83 million, compared to a net income of $1.99 million in the same period of 2023 [135]. Market Conditions - The average rate for a 30-year fixed mortgage was 6.8% in March 2024, compared to 6.3% in March 2023, negatively impacting homebuying demand [98]. - The housing affordability index decreased to 103.0 in February 2024 from 109.3 in February 2023, indicating declining affordability due to higher mortgage rates and home prices [99]. - Existing home sales transactions decreased to an annual rate of 4.2 million in March 2024, a 3.7% decline from 4.4 million in March 2023 [100]. Operational Strategy - eXp's strategy focuses on organic growth in North America and select international markets, leveraging its cloud-based technology platform to enhance operational efficiencies [90]. Cash Flow and Capital Management - Net working capital decreased by $28.8 million, or 23%, from $124.84 million as of December 31, 2023, to $96.09 million as of March 31, 2024 [140]. - Net cash provided by operating activities increased by $4.51 million, from $56.14 million in Q1 2023 to $60.65 million in Q1 2024 [141]. - Cash used in investing activities increased to $5.25 million in Q1 2024, compared to $1.78 million in Q1 2023, primarily due to investments in affiliates [142]. - Cash used in financing activities was $40.81 million in Q1 2024, up from $36.21 million in Q1 2023, mainly related to stock repurchases and cash dividends [142]. - The company believes its existing cash and cash equivalents will be sufficient to meet operating requirements for at least the next twelve months [139]. - Current assets increased to $300.38 million as of March 31, 2024, from $266.48 million as of December 31, 2023 [140]. - The company does not have any known material cash requirements as of March 31, 2024, except for passthrough commissions to agents and brokers [138]. - The company seeks opportunities for acquisitions to enhance its portfolio and may fund these with existing cash balances and cash flow from operations [143]. Agent Metrics - eXp ended Q1 2024 with a global agent Net Promoter Score (aNPS) of 73, up from 70 in Q1 2023, reflecting a 4% increase [106]. - The number of agents and brokers on the eXp Realty platform decreased by 2% year-over-year to 85,780 [86].

"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 ...

Revenue share calculations designed to increase clarity and offer new earning potential during an agent's first year with eXp Realty Reduction of Front Line Qualifying Agent (FLQA) requirements removes barriers to growth Real-time revenue share feature provides agents with financial flexibility BELLINGHAM, Wash., May 01, 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 critic ...

BELLINGHAM, Wash., April 30, 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), is proud to announce the appointment of Tampa eXp Realty agent and team leader Kendall Bonner as Vice President of Industry Relations. She will be responsible for developing and fortifying strategic partnerships within the real estate sector. Bonner, a seasoned real estate professional, attorney, and influential vo ...

BELLINGHAM, Wash., April 29, 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 significant leadership updates across its Growth team to further enhance its market presence and agent support worldwide. Effective immediately, Amy Weaver has been named Senior Vice President of the U.S. Growth team, supported by newly appointed Regional Vice Presidents of Growth, Frank Panunto, Ru ...

BELLINGHAM, Wash., April 25, 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 appointment of Wendy Forsythe as Chief Marketing Officer. She will be responsible for building eXp Realty's marketing strategies and initiatives globally, enhancing the company's brand visibility and further empowering its agents worldwide. "Wendy's extensive experience and passion for real esta ...

BELLINGHAM, Wash., April 19, 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 unveiled the expansion of its global network through the recent inclusion of several exceptionally productive teams and agents. "In March, we saw an incredible influx of talent from across the globe joining eXp, each bringing a unique perspective that enriches our community," said Michael Valdes, Chief Growth ...

BELLINGHAM, Wash., April 17, 2024 (GLOBE NEWSWIRE) -- eXp World Holdings, Inc. (NASDAQ:EXPI), the holding company for eXp Realty®, Virbela and SUCCESS® Enterprises, today announced it expects to report its first quarter 2024 financial results on Wednesday, May 1, 2024. The Company will hold a virtual fireside chat and investor Q&A on Wednesday, May 1, 2024 at 2 p.m. PT / 5 p.m. ET hosted by, Glenn Sanford, Founder, Chairman and CEO, eXp World HoldingsLeo Pareja, CEO, eXp RealtyKent Cheng, Principal Financia ...

BELLINGHAM, Wash., April 17, 2024 (GLOBE NEWSWIRE) -- eXp World Holdings, Inc. (Nasdaq: EXPI), the holding company for eXp Realty®, Virbela and SUCCESS® Enterprises, today announced it expects to report its first quarter 2024 financial results on Wednesday, May 1, 2024. The Company will hold a virtual fireside chat and investor Q&A on Wednesday, May 1, 2024 at 2 p.m. PT / 5 p.m. ET hosted by, Glenn Sanford, Founder, Chairman and CEO, eXp World HoldingsLeo Pareja, CEO, eXp RealtyKent Cheng, Principal Financi ...

BELLINGHAM, Wash., April 16, 2024 (GLOBE NEWSWIRE) -- eXp Realty, "the most agent-centric real estate brokerage on the planet™" and a core subsidiary of eXp World Holdings, Inc. (NASDAQ:EXPI), proudly celebrates the outstanding achievements of its top agents and teams for production in 2023. These acclaimed rankings recognize the highest achievers in sales volume and transaction sides, showcasing eXp's agent leaders who have defined the highest standards of real estate excellence. "These rankings are more t ...