Revenue Up 188% Year-over-year to $62 Million, Nearly Tripled Agent Count<\/strong><\/em><\/p>\n

BELLINGHAM, WASH. \u2014 May 15, 2018 \u2014\u00a0<\/b>eXp World Holdings (OTCQB: EXPI), the holding company for eXp Realty, the largest residential real estate brokerage by geography in North America, today announced financial results for the first quarter ended March 31, 2018.<\/p>\n

The company also announced that it has received approval to list the company\u2019s common stock on the Nasdaq Global Market. Once the final paperwork with Nasdaq is complete, shares of the company\u2019s common stock will begin trading on The Nasdaq Stock Market next week.<\/p>\n

Q1 2018 Highlights<\/b><\/p>\n

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• $62 million in revenue, 188% increase year-over-year<\/li>\n
• Nearly tripled agent count during the same time a year ago<\/li>\n
• Transaction volume closed increased 188% to $2.3 billion<\/li>\n<\/ul>\n

  \u201cDuring the last year, eXp Realty became the largest residential real estate brokerage by geography in North America and nearly tripled agent count. Our record results are fueled by our tremendous agent and location growth,\u201d said eXp World Holdings CEO, Chairman and Founder Glenn Sanford. \u201cReceiving approval to list on Nasdaq brings us one step closer to enhancing the value we deliver to our agents and shareholders, and we are excited to start trading on Nasdaq very soon.\u201d<\/p>\n

  First Quarter 2018 Financial Summary<\/b><\/p>\n

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  • Revenue increased 188% to a record $62 million, from $21.5 million in the first quarter of 2017. This represents 37% growth quarter-over-quarter, from $45.4 million in the fourth quarter of 2017.<\/li>\n
  • Gross margin grew 144% to $6.3 million, compared to $2.6 million in the first quarter of 2017.<\/li>\n
  • Net loss was $10.7 million, or $(0.19) per diluted share, compared to net loss of $2.9 million, or $(0.05) per diluted share, in the first quarter of 2017.<\/li>\n
  • Adjusted EBITDA (a non-GAAP financial measure) increased significantly to $1.5 million in the first quarter of 2018, compared to $71,999 in the first quarter of 2017.<\/li>\n
  • Cash flow from operations increased significantly to $3.9 million, compared to $157,286 in the first quarter of 2017.<\/li>\n<\/ul>\n

    First Quarter Consolidated 2018 Operating and Business Highlights<\/b><\/p>\n

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    • The number of agents and brokers on the eXp Realty platform nearly tripled year-over-year, growing to 9,290 at the end of the first quarter of 2018 from 3,118 in the same quarter a year ago. This represents 43% sequential growth, compared to 6,511 at the end of the fourth quarter of 2017. In April, eXp Realty crossed the 10,000-agent mark.<\/li>\n
    • Residential transaction sides closed for the first quarter of 2018 was 9,473, an increase of 176% compared to 3,432 during the first quarter of 2017. This represents 17% sequential growth, compared to 8,080 during the fourth quarter of 2017.<\/li>\n
    • Residential transaction volume closed for the first quarter of 2018 was $2.3 billion, an increase of 188%, compared to $807.6 million during the first quarter of 2017. This represents 20% sequential growth, compared to $1.9 billion during the fourth quarter of 2017.<\/li>\n<\/ul>\n

      Use of Non-GAAP Financial Measures<\/b><\/p>\n

      To provide investors with additional information regarding our financial results, this press release includes references to Adjusted EBITDA, a non-GAAP financial measure. We view Adjusted EBITDA as an operating performance measure and, as such, we believe that the GAAP financial measure most directly comparable to it is net income (loss). We define Adjusted EBITDA as net income excluding interest, income taxes, depreciation, amortization, and stock based compensation. We believe that Adjusted EBITDA provides us an important measure of operating performance and enhances comparability while providing investors with useful insight into the underlying trends of the business. Our use of Adjusted EBITDA has limitations as an analytical tool, and this measure should not be considered in isolation or as a substitute for an analysis of our results as reported under GAAP, as the excluded items may have significant effects on our operating results and financial condition. Additionally, our measure of Adjusted EBITDA may differ from other companies\u2019 measure of Adjusted EBITDA. When evaluating our performance, Adjusted EBITDA should be considered with other financial performance measures, including various cash flow metrics, net income and other GAAP results. In the future, we may disclose different non-GAAP financial measures in order to help our investors and others more meaningfully evaluate and compare our future results of operations to our previously reported results of operations.<\/p>\n

      Safe Harbor Statement<\/b><\/p>\n

      The statements contained herein may include statements of future expectations and other forward-looking statements that are based on management\u2019s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Such forward-looking statements speak only as of the date hereof, and the company undertakes no obligation to revise or update them. These statements include, but are not limited to, statements about the company\u2019s expansion, revenue growth, operating results, financial performance and net income changes. Such statements are not guarantees of future performance. Important factors that may cause actual results to differ materially and adversely from those expressed in forward-looking statements include changes in business or other market conditions; the difficulty of keeping expense growth at modest levels while increasing revenues; and other risks detailed from time to time in the company\u2019s Securities and Exchange Commission filings, including but not limited to the most recently filed Annual Report on Form 10-K.<\/p>\n

      About eXp World Holdings<\/b><\/p>\n

      eXp World Holdings, Inc. (OTCQB: EXPI) is the holding company for eXp Realty, LLC, the largest residential real estate brokerage by geography in North America. eXp Realty (exprealty.com) is changing the way that agents, brokers and consumers work together in an adaptive, sustainable environment. It is an agent-designed and agent-owned company. As the leading, national, cloud-based real estate brokerage, eXp Realty provides 24\/7 access to collaborative tools, training and socialization for real estate brokers and agents through its virtual campus environment. It is one of the fastest growing real estate brokerage firms in North America with nearly 11,000 agents in 49 U.S. states, the District of Columbia and the provinces of Alberta and Ontario, Canada. As a publicly traded company, eXp World Holdings, Inc. uniquely offers real estate professionals within its ranks opportunities to earn company stock for production and contributions to overall company growth.<\/p>\n

      For more information, please visit the company\u2019s website at\u00a0www.eXpRealty.com<\/a>.<\/p>\n

      Reported Consolidated Results<\/b><\/p>\n

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      Media Relations Contact:<\/b><\/p>\n

      Cynthia Nowak
      \nDirector of marketing and communications, eXp Realty
      \n360.419.5285 ext. 116
      \ncynthia.nowak@exprealty.com<\/a><\/p>\n

      Investor Relations Contact:<\/b><\/p>\n

      Greg Falesnik
      \nManaging director, MZ Group \u2013 MZ North America
      \n949.385.6449
      \ngreg.falesnik@mzgroup.us<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

      Revenue Up 188% Year-over-year to $62 Million, Nearly Tripled Agent Count BELLINGHAM, WASH. \u2014 May 15, 2018 \u2014\u00a0eXp World Holdings (OTCQB: EXPI), the holding company for eXp Realty, the largest residential real estate brokerage by geography in North America, today announced financial results for the first quarter ended March 31, 2018. The company also announced […]<\/p>\n","protected":false},"author":2,"featured_media":256,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[7],"tags":[8,11],"class_list":["post-255","post","type-post","status-publish","format-standard","hentry","category-exp-realty","tag-exp-realty","tag-exp-realty-tucson"],"acf":[],"yoast_head":"\n