eXp(US:EXPI)2026-02-24 21:25Financial 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]