Financial Position - The Company reported total assets of $442,480,000 as of December 31, 2025, an increase from $390,722,000 in 2024, reflecting a growth of approximately 13.2%[243] - Total liabilities increased to $199,701,000 in 2025 from $185,853,000 in 2024, marking an increase of about 7.4%[243] - The Company’s equity grew to $242,779,000 in 2025, up from $204,869,000 in 2024, reflecting an increase of approximately 18.5%[243] - The Company’s accumulated earnings (deficit) worsened to $(121,622,000) in 2025 from $(68,135,000) in 2024, indicating a decline in retained earnings[243] - The Company’s total current assets increased to $304,868,000 in 2025 from $267,972,000 in 2024, reflecting a growth of approximately 13.7%[243] - The Company’s total current liabilities rose to $199,701,000 in 2025 from $185,853,000 in 2024, marking an increase of about 7.4%[243] Revenue and Profitability - Revenues for the year ended December 31, 2025, increased to $4,772,311, a growth of 4.5% from $4,567,672 in 2024[245] - Gross profit decreased to $333,578 in 2025 from $342,395 in 2024, reflecting a decline of 2.4%[245] - Operating income loss for 2025 was $(21,466), compared to a loss of $(18,994) in 2024, indicating a worsening of 7.8%[245] - Net income loss from continuing operations was $(22,714) in 2025, compared to $(16,788) in 2024, representing an increase in loss of 35.4%[245] - Total operating expenses for 2025 were $355,044, a slight decrease of 1.0% from $361,389 in 2024[245] Cash Flow - Cash provided by operating activities decreased to $118,611 in 2025 from $191,514 in 2024, a decline of 38.1%[251] - Cash, cash equivalents, and restricted cash at the end of 2025 totaled $181,463, up from $168,588 in 2024, an increase of 7.0%[251] Stock and Equity - The company repurchased $56,199 of common stock in 2025, down from $141,121 in 2024, a reduction of 60.2%[251] - The total number of common stock shares increased from 195,028,207 in 2024 to 207,785,762 in 2025, a rise of 6.5%[304] - The Company issued 9,872,505 shares under the Agent Equity Program in 2025, generating $98,149 in net proceeds[310] - Stock compensation attributable to the Agent Growth Incentive Program was $37,222 in 2025, slightly up from $36,998 in 2024[312] - The Company’s stock compensation expense for Restricted Stock Units was $1,142 in 2025, with total unrecognized costs of $2,877 expected to be recognized over 2.21 years[317] Tax and Deferred Tax - Total income tax expense from continuing operations was $2,480 in 2025, with an effective tax rate of (12.26)%[330] - As of December 31, 2025, the Company had federal net operating losses of approximately $110.9 million, which can offset 80% of future taxable income[333] - The Company recorded total gross deferred tax assets of $81.171 million as of December 31, 2025, with net deferred tax assets amounting to $77.510 million after valuation allowances[332] - The Company maintained unrecognized tax benefits of $2.401 million, which could affect the effective tax rate if recognized[337] Litigation and Contingencies - The Company has a total settlement amount of $34.0 million related to antitrust litigation, with the first installment of $17.0 million already funded[343] - The Company has committed to provide capital maintenance agreements with JPMorgan Chase Bank and Texas Capital Bank, with liabilities limited to $2.0 million and $1.25 million, respectively[349] Other Financial Metrics - Adjusted EBITDA for consolidated operations was $33,172 in 2025, a decline of 56.0% from $75,483 in 2024 and 49.3% from $65,328 in 2023[326] - The operating loss for consolidated operations was $21,466 in 2025, compared to a loss of $18,994 in 2024 and a profit of $522 in 2023[326] - Basic earnings per share for 2025 was ($0.14), consistent with ($0.14) in 2024 and a loss of ($0.06) in 2023[329] - Approximately 13% of total revenue in 2025 was generated outside of the U.S., compared to 11% in 2024 and 9% in 2023[327]

Core Insights - eXp World Holdings, Inc. reported a 4% increase in full-year revenue to $4.8 billion for 2025, with a fourth-quarter revenue of $1.2 billion, despite a net loss of $(22.7) million for the year and $(12.9) million for the quarter [4][9]. Financial Highlights - Full-year total operating expenses decreased to $355.0 million in 2025 from $361.4 million in 2024, with fourth-quarter operating expenses at $91.3 million [4]. - Adjusted EBITDA for the full year was $33.2 million, with $2.1 million in the fourth quarter [4]. - Cash and cash equivalents as of December 31, 2025, totaled $124.2 million, up from $113.6 million a year earlier [4]. Operational Highlights - The number of agents and brokers on the eXp Realty platform reached 83,060 as of December 31, 2025 [9]. - Full-year real estate sales transactions increased by 1% to 440,163, with a 6% increase in the fourth quarter to 110,392 [9]. - Real estate sales volume rose by 5% to $194.0 billion for the year, with an 8% increase in the fourth quarter to $48.8 billion [9]. Future Outlook - The company anticipates revenue for 2026 to be between $4.85 billion and $5.15 billion, with operating expenses projected between $325 million and $345 million [9]. - Adjusted EBITDA for 2026 is expected to range from $50 million to $75 million [9].

Financial Performance - Full-year revenue increased 4% to $4.8 billion in 2025, with fourth-quarter revenue of $1.2 billion[2] - Full-year net loss was $(22.7) million in 2025, with a fourth-quarter net loss of $(12.9) million, resulting in a full-year net loss per diluted share of $(0.14)[2] - Full-year adjusted EBITDA was $33.2 million in 2025, with fourth-quarter adjusted EBITDA of $2.1 million[2] - Revenues for Q4 2025 reached $1,191,845, a 8.5% increase from $1,098,187 in Q4 2024[23] - Gross profit for the year 2025 was $333,578, down 2.4% from $342,395 in 2024[23] - Net loss for the year 2025 was $22,714, compared to a net loss of $21,267 in 2024, indicating a 6.9% increase in losses[23] - The company reported a basic net loss per share of $0.14 for the year 2025, consistent with the loss per share of $0.14 in 2024[23] Operating Expenses - Full-year total operating expenses decreased to $355.0 million in 2025 from $361.4 million in 2024, with fourth-quarter operating expenses of $91.3 million[2] - Operating expenses increased to $355,044 in 2025, compared to $361,389 in 2024, reflecting a decrease of 1.0%[23] - The company incurred $38,610 in stock-based compensation expenses for the year 2025, compared to $37,265 in 2024[29] Cash and Assets - As of December 31, 2025, cash and cash equivalents totaled $124.2 million, up from $113.6 million in the previous year[2] - Cash and cash equivalents at the end of 2025 were $124,245, an increase from $113,607 in 2024[25] - Total assets increased to $442,480 in 2025, up from $390,722 in 2024, representing a growth of 13.2%[25] - Total liabilities remained stable at $199,701 in 2025, compared to $185,853 in 2024[25] Real Estate Performance - Full-year real estate sales transactions increased 1% to 440,163 in 2025, with a 6% increase to 110,392 in the fourth quarter[7] - Full-year real estate sales volume increased 5% to $194.0 billion in 2025, with an 8% increase to $48.8 billion in the fourth quarter[7] Shareholder Returns - The company distributed $87.0 million to shareholders in fiscal 2025, including $56.2 million in stock repurchases and $30.8 million in cash dividends[7] Future Guidance - The company expects full-year 2026 revenue guidance between $4.85 billion and $5.15 billion, with operating expenses between $325 million and $345 million[7] Customer Satisfaction - The global agent Net Promoter Score (aNPS) was 75 as of the end of Q4 2025, down from 76 in the prior-year period[7] Cash Flow - Adjusted Operating Cash Flow for Q4 2025 was $30,055, up 19.4% from $25,114 in Q4 2024[31]

Core Insights - eXp Realty has announced the addition of the Lisa Sevajian Group, a top-performing real estate team from Massachusetts, to its brokerage [2][6] - The Lisa Sevajian Group has a strong performance history, managing over $300 million in career sales and closing approximately 1,500 transactions [3][4] - Lisa Sevajian is recognized in the competitive Greater Boston market and has received accolades from RealTrends and major media outlets [4][5] Company Overview - eXp Realty is described as "the most agent-centric™ real estate brokerage" and is a subsidiary of eXp World Holdings, Inc. [2][7] - The company operates on a cloud-based platform, providing agents with scalable technology, collaboration opportunities, and a structure aimed at maximizing support and profitability [6][7] - eXp World Holdings emphasizes transparency, innovation, and long-term value for agents, staff, and shareholders [7] Leadership and Vision - Leo Pareja, CEO of eXp Realty, highlighted the shift towards intentional growth in the real estate industry, emphasizing the importance of innovation and adaptability [5][6] - Sevajian expressed that joining eXp Realty is about starting smarter and building a better system for agents and clients [6]

Core Insights - eXp World Holdings, Inc. is set to report its fourth quarter and full-year 2025 financial results on February 24, 2026 [2] - The company will host a virtual fireside chat and investor Q&A session on the same day, open to investors and interested parties [3][4] Company Overview - eXp World Holdings, Inc. operates eXp Realty®, FrameVR.io, and SUCCESS® Enterprises, focusing on a cloud-based platform and agent-centric model [4] - The company emphasizes industry-leading commission structures, revenue share, equity ownership, and a global community for real estate professionals [4] - eXp Realty is recognized as "the most agent-centric™ real estate brokerage on the planet," with operations across multiple regions including the Americas, Europe, the Middle East, Asia Pacific, and South Africa [4]

Core Insights - eXp Realty has announced the addition of the Nick Shivers Team, which includes 17 agents, marking a significant expansion in the Oregon and Washington markets [1][3] Company Overview - eXp Realty is described as "the most agent-centric real estate brokerage on the planet" and is a core subsidiary of eXp World Holdings, Inc. [1] - The company operates as a cloud-based brokerage with over 83,000 agents across 29 countries, offering industry-leading commission splits, revenue share, and equity ownership opportunities [7] Team Composition and Leadership - The Nick Shivers Team is led by Nick Shivers, a RISMedia Newsmaker Hall of Fame inductee, and includes partners Keegan and Kaiya Shivers, along with CFO Troy Thurman and COO Melodie Thurman [2][4] - The team is characterized by a strong leadership group with extensive experience in operations and sales, aimed at driving performance and scalable growth [2] Sales Performance - In 2025, the Nick Shivers Team reported over $178 million in sales volume across 360 units, with 75% of production coming from listings [3] Strategic Shift - The transition from Keller Williams Realty to eXp Realty represents a strategic pivot for the Nick Shivers Team, focusing on scaling innovation and maximizing agent opportunities [3][5] - Nick Shivers emphasized the need for a platform that understands team operations and supports high-performance teams [5] Modern Business Approach - The team is noted for its digital-first approach to real estate, recognizing the changing landscape of client interactions and the importance of creativity in modern business [6] - The Nick Shivers Team offers a comprehensive suite of seller options, including instant offers and marketing strategies, while also engaging in philanthropic efforts through their "Sell a Home, Save a Child" initiative [6] Future Outlook - The move to eXp Realty is seen as a way to future-proof the business and align with a platform that supports operational stability and borderless opportunities [5][6]

Core Insights - eXp Realty has announced a strategic partnership with Land id to enhance its technology platform, providing agents with advanced geospatial data and client presentation capabilities [2][4] Group 1: Partnership Details - The collaboration will initially focus on eXp's Land & Ranch Division, aiding agents in brokering specialized investments such as farms, ranches, and luxury land [3] - Agents will have unlimited access to Land id's Pro account via mobile and browser applications, offering tools for educational purposes and marketing functionalities [3] Group 2: Benefits of the Land id Platform - The Land id platform provides transparent access to essential property data, including parcel boundaries, ownership histories, environmental concerns, and tax information, which are crucial for property valuation [5] - The platform is beneficial not only for rural markets but also for single-family and commercial real estate, offering data-rich visualizations and insights for price strategy and marketing [4] Group 3: Company Vision and Market Position - eXp Realty aims to equip its agents with best-in-class tools to enhance their market leadership and professionalism [4] - The partnership with Land id is seen as a way to empower agents across various real estate categories, enhancing their ability to serve clients effectively [6] - eXp Realty is recognized as the largest independent real estate brokerage globally, with over 83,000 agents in 29 countries, emphasizing its agent-centric approach [8]

Core Insights - eXp Realty has announced two significant executive promotions aimed at enhancing its mission of empowering agents globally [1][2] - Carrie Lysenko has been promoted to Chief Technology Officer, while Holly Mabery has been appointed as Chief Brokerage Officer, both reporting directly to CEO Leo Pareja [2][3] - These leadership changes reflect eXp Realty's commitment to integrating advanced technology with strong brokerage operations [3][8] Executive Promotions - Carrie Lysenko, former CEO of Zoocasa, will focus on driving innovation and simplifying the agent experience as the new CTO [4][5] - Holly Mabery, previously Senior Vice President of Brokerage Operations, will enhance brokerage operations and compliance in her new role [6][7] Strategic Vision - Lysenko aims to leverage her experience in digital transformation to create intuitive technology that empowers agents [5][4] - Mabery emphasizes the importance of community and support for agents, ensuring operational excellence as the company grows [8][7] Company Overview - eXp Realty is the largest independent real estate brokerage globally, with over 83,000 agents across 29 countries [10] - The company operates as a cloud-based, agent-centric brokerage, offering competitive commission splits, revenue sharing, and equity ownership opportunities [10]

Core Insights - eXp Realty is expanding its international presence, having successfully entered Romania and the Netherlands, with plans to expand into Luxembourg, marking a significant year for global expansion [2] - The company reported a revenue of $104.6 million for eXp International in Q3, representing a 74% increase year-over-year, highlighting the strong growth momentum driven by its expansion efforts [3] - eXp's strategy focuses on entering markets with high potential for agents, emphasizing flexibility, scalability, ownership, and global relevance, which aligns with the evolving needs of real estate agents [3][4] Group 1 - eXp Realty has expanded to seven international markets in 2025, including Peru, Ecuador, Turkey, South Korea, and Japan, with a targeted approach to growth [2] - The company is leveraging proprietary tools designed by agents for agents, such as the AI-native international real estate search platform LYVVE™, which connects agents and consumers across nearly 30 countries [4] - The rapid growth in new markets is evidenced by over 100 agents joining within the first 30 days of launch in some regions, indicating increasing influence and network effects [3][4] Group 2 - eXp Realty operates as a cloud-based, agent-centric brokerage, providing industry-leading commission sharing, revenue sharing, and equity opportunities to nearly 83,000 agents across 29 countries [6] - The company aims to build infrastructure and tools that lead the future of the real estate industry, reflecting the changing demands of agents who seek more than just commissions and training [3][4] - eXp's international expansion is characterized by collaboration with local market experts who understand the needs of agents, ensuring a strong market fit from day one [4]

Core Insights - eXp Realty has expanded into Romania and the Netherlands, with plans to enter Luxembourg, as part of its global growth strategy towards a 2030 vision [3][4] - The company has now expanded into seven countries in 2025, including previous entries into Peru, Ecuador, Türkiye, South Korea, and Japan [4] - eXp's international revenue reached $104.6 million through Q3 2025, reflecting a 74% increase compared to the same period last year [5] Expansion Strategy - eXp Realty targets agent-led markets with a rising demand for innovation, mobility, and ownership, ensuring that its platform delivers immediate value [4][5] - The company has successfully onboarded over 100 agents in the first 30 days in some of the newly launched markets, with welcome events attracting 400-500 attendees [5][6] - The expansion is characterized by a demand-driven approach, with local partners who understand their markets and align with eXp's operational model [6] Technological Innovations - eXp has developed proprietary tools like LYVVE™, an AI-native international property search platform, to facilitate connections between agents and consumers across nearly 30 countries [6] - The in-house global referral network allows agents to manage opportunities seamlessly, emphasizing the company's commitment to building purpose-driven innovations for a global, agent-led future [6] Company Overview - eXp World Holdings, Inc. is the holding company for eXp Realty and SUCCESS Enterprises, with eXp Realty being the largest independent real estate brokerage globally, boasting over 83,000 agents across 29 countries [8] - The company offers industry-leading commission splits, revenue share, equity ownership opportunities, and a global network to empower agents [8]