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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.
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.
eXp World Holdings (EXPI) reported a record net income of $8.3 million for Q2 2020, marking its most profitable quarter to date.
Revenue surged 33% year-over-year to $354 million, driven by robust agent growth, with over 31,000 agents joining the platform.
Gross profit increased 55% to $34.4 million, while cash flow from operations rose 57% to $28.5 million.
The company plans further expansion into international markets and commercial real estate for sustained growth.
eXp Realty announced 73 agents honored as ICON agents for July 2020, recognizing their exceptional production and contributions to company culture. The ICON Agent Award provides qualifying agents with up to $16,000 in eXp World Holdings stock contingent upon achieving specific goals. eXp Realty operates globally with over 30,000 agents, offering unique opportunities for agents to earn stock through performance and company growth.
BELLINGHAM, Wash., July 28, 2020 (GLOBE NEWSWIRE) -- eXp World Holdings, Inc. (Nasdaq: EXPI) announced preliminary highlights for Q2 2020 and will report full results post-market on August 5, 2020. Additionally, a virtual fireside chat featuring CEO Glenn Sanford and CFO Jeff Whiteside will occur on August 6 at 8 a.m. PT. eXp Realty, a subsidiary of EXPI, has over 31,000 agents across four countries, providing stock incentives for performance. The company also operates VirBELA, an immersive tech platform for collaboration and events.
eXp Realty has recognized 50 agents as ICON agents for June 2020 for exceptional production and positive cultural impact. This award aligns with eXp Realty's core values and offers each ICON agent up to $16,000 in publicly traded eXp World Holdings stock upon achieving specified goals. eXp Realty, a subsidiary of eXp World Holdings (Nasdaq: EXPI), serves over 30,000 agents globally, providing opportunities to earn stock based on performance. The company is also known for its immersive virtual platform, VirBELA.
eXp World Holdings (Nasdaq: EXPI) announced a virtual fireside chat featuring CEO Glenn Sanford and CFO Jeff Whiteside on June 19 at 8 a.m. PT. The session will cover the company's performance and future prospects, with a strategic update indicating strong financial results.
eXp projects net income for the third consecutive quarter, anticipating it could be the company's most profitable quarter. Plans for international growth and a focus on commercial real estate aim to enhance revenue contributions. Additionally, VirBELA is seeing increased demand due to the shift to remote work.
VirBELA has partnered with HTC VIVE to launch VIVE Campus, part of the new XR Suite aimed at enhancing virtual collaboration. Expected in Q3 2020, this suite includes five applications designed for remote work, productivity, and social interaction. This partnership aligns with increasing enterprise VR demand, allowing users to work seamlessly from anywhere. VirBELA's platform supports thousands of simultaneous users, enabling efficient content sharing and collaboration. This strategic collaboration aims to redefine business interaction in a socially distant world, catering to both enterprises and educational institutions.
eXp Realty has surpassed 30,000 real estate agents across multiple countries, marking a 50% increase from the previous year. The company was recognized for its significant growth in the Swanepoel Mega 1000 list, ranking No. 2 for sales volume growth, No. 3 for closed transactions, and No. 4 for closed sales volume in 2019. CEO Jason Gesing attributed this growth to the company’s innovative cloud-based platform and the increasing appeal of virtual office environments during the pandemic.
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