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eXp World Holdings, Inc. (Nasdaq: EXPI) is a leading provider of cloud-based real estate brokerage services, connecting home buyers and sellers across the United States, Canada, the United Kingdom, Australia, South Africa, Portugal, France, Mexico, and India. Through its platform, exprealty.com, the company offers real-time property listings and enables sellers to list their properties seamlessly. This innovative approach is coupled with a network of highly skilled and consumer-centric agents and brokers.
eXp World Holdings, Inc. also owns Virbela, a virtual reality software platform aimed at enhancing education and team development across various industries, including government and retail. The company has further innovated with eXp World, a cloud campus providing real estate agents and employees with access to collaborative tools, training, and social opportunities.
In addition to its core real estate brokerage, eXp World Holdings provides comprehensive marketing, training, and support services to its brokers and agents through its proprietary technology. The company's diverse offerings include real estate brokerage, technology products and services, title, escrow, settlement services, and mortgage brokerage services.
Recent developments highlight the company's ongoing commitment to its agent-centric model. Despite challenging market conditions, eXp World Holdings reported a significant year-over-year increase in Adjusted EBITDA growth by 53% in the third quarter of 2023. This was driven by a focus on increasing agent Net Promoter Scores (aNPS) and expanding market share. The company has introduced several programs such as Boost, Accelerate, Thrive, and eXp exclusives, alongside partnerships with Opendoor and HomeRiver Group, to empower agents and drive revenue-generating opportunities.
Moreover, the company continues to see international growth with new partnerships, such as the one with HomeHunter Global. Financially, eXp World Holdings maintains a strong cash flow profile, enabling ongoing investments in agent success and shareholder returns through share repurchases and cash dividends.
For more detailed updates and further information, visit the official eXp World Holdings website.
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.
VirBELA has promoted Craig Kaplan to Chief Customer Officer, expanding his role to lead sales, marketing, and customer operations. Since joining as a strategic advisor, Kaplan has facilitated over 20 enterprise deals, contributing to a remarkable 260% revenue growth in Q2 2020. His focus will be on enhancing the customer experience as organizations shift to remote work. VirBELA's immersive technology platform supports distance learning and virtual events, aiming to establish a new industry segment for flexible business engagement.
eXp, a rapidly growing global residential real estate company and a subsidiary of eXp World Holdings (Nasdaq: EXPI), announced its intention to expand operations into France, India, Mexico, Portugal, and South Africa by the end of 2020. With over 32,000 agents across key markets like the U.S., Canada, and the U.K., the company aims to establish a strong international presence. The choice of these countries reflects their vibrant real estate markets, providing a strategic foothold for future growth. eXp continues to innovate by offering technology tools and opportunities for agents to earn stock in the company.
VirBELA, a leading immersive technology platform and subsidiary of eXp World Holdings (NASDAQ: EXPI), reported a remarkable 260% revenue increase in Q2 2020 compared to Q1 2020. The company also noted significant growth in user engagement, with five times the increase in monthly active users. To meet rising demand, VirBELA expanded its workforce from 20 to 105 employees in the first half of 2020 and launched new features, including virtual event spaces and VR support. This growth aligns with the ongoing shift towards remote work and virtual events due to the COVID-19 pandemic.
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