Exp World Holdin - EXPI STOCK NEWS

eXp World Holdings, Inc. (Nasdaq: EXPI) announced on November 11, 2020, its expansion of eXp Commercial operations into 35 states, aiming to cover all 50 U.S. states by the end of 2020. The company’s innovative cloud-based model attracts top-producing agents with competitive commission packages and stock award opportunities. eXp Commercial enhances collaboration with eXp Realty agents, utilizing a unique technology platform and CoStar resources for improved sales and training. This expansion follows the appointment of James Huang as President of eXp Commercial earlier in September.

Virbela, a virtual world platform owned by eXp World Holdings (Nasdaq: EXPI), reported significant growth in Q3 2020, with a 78% increase in new users from the previous quarter. Notably, over 50% of this user growth came from international markets, particularly Latin America. To meet rising demand, Virbela introduced five new languages for its platform. The company has partnered with major organizations like Penta Marketing to enhance its offerings in immersive event experiences. Additionally, eXp World Holdings hosted EXPCON, the industry's largest real estate event, virtually.

eXp World Holdings (NASDAQ: EXPI) reported a significant Q3 2020 performance with revenues doubling to $564 million, marking a 100% increase from Q3 2019. Gross profit rose 103% to $46.8 million, and net income reached $14.9 million or $0.20 per diluted share, a turnaround from a $1.8 million loss last year. Adjusted EBITDA surged 512% to $21.8 million, with cash flow from operations rising 188% to $43.2 million. The company added a record number of agents, totaling over 38,000 globally.

eXp World Holdings, Inc. (Nasdaq: EXPI) has re-engaged MZ Group to enhance its investor relations and financial communication strategies. MZ Group aims to increase eXp's visibility among institutional investors and its growing agent network. With over 38,000 agents globally, eXp has achieved a remarkable 112% annual revenue CAGR over the past five years while maintaining profitability. MZ Group will assist in corporate communications and brand awareness across various platforms as eXp focuses on growth opportunities in real estate and affiliated services like title and mortgage.

eXp World Holdings (Nasdaq: EXPI) is set to host its 11th annual EXPCON event virtually from Nov. 9 to 13, 2020, expecting over 10,000 attendees. Key activities include daily keynotes and breakout sessions, highlighted by a fireside chat with Robert Herjavec on Nov. 9. eXp's third quarter financial results will also be disclosed during the event, alongside a recap of the year’s accomplishments. This event showcases eXp's innovative cloud-based real estate model and virtual capabilities through its platform powered by Virbela.

eXp World Holdings (Nasdaq: EXPI) will report its third quarter financial results on November 9, 2020. Preliminary results show a 56% increase in agents to 35,877 and a 95% rise in residential transaction sides to 75,392 year-over-year. Transaction volume surged 112% to $23.6 billion. Additionally, VirBELA revenue grew over 360%. The company, known for its cloud-based real estate model, is also expanding internationally, recently launching in South Africa. A virtual investor Q&A is scheduled for November 10 to discuss these results.

eXp Realty Expands into South Africa

eXp World Holdings (Nasdaq: EXPI) has announced the expansion of eXp Realty into South Africa, marking its fourth international move. With over 35,000 agents globally, the company enhances its brokerage model by integrating revenue-sharing and stock award opportunities for agents. The South African market will support residential and commercial operations, leveraging eXp's innovative cloud-based technology. This expansion aligns with eXp's strategy to tap into vibrant real estate communities worldwide, alongside its presence in Canada, the UK, and Australia.

eXp Realty has announced the onboarding of Toronto-GTA's Christopher Invidiata and his 21-agent team, expanding its Canadian presence. This partnership is a strategic move to leverage eXp's innovative financial model, which includes revenue sharing and stock options for agents. Invidiata, a luxury real estate brand with over $4 billion in residential sales, aims to enhance marketing resources and provide ownership opportunities for its agents. eXp Realty boasts a global network of 35,000 agents and continues to grow internationally.

eXp World Holdings (Nasdaq: EXPI) announced the appointment of James Huang as the president of its commercial division. Huang, with over 20 years in commercial real estate, is tasked with launching and expanding eXp's commercial business across the United States and globally. His leadership experience includes overseeing 65 affiliates at Sperry Commercial Global Affiliates. Huang aims to leverage eXp's innovative model to enhance its commercial real estate division and related services.