Revenue Up 188% Year-over-year to $62 Million, Nearly Tripled Agent Count

BELLINGHAM, WASH. — May 15, 2018 — 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.

The company also announced that it has received approval to list the company’s common stock on the Nasdaq Global Market. Once the final paperwork with Nasdaq is complete, shares of the company’s common stock will begin trading on The Nasdaq Stock Market next week.

Q1 2018 earnings

Q1 2018 Highlights

“During 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,” said eXp World Holdings CEO, Chairman and Founder Glenn Sanford. “Receiving 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.”

First Quarter 2018 Financial Summary

First Quarter Consolidated 2018 Operating and Business Highlights

Use of Non-GAAP Financial Measures

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’ 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.

Safe Harbor Statement

The statements contained herein may include statements of future expectations and other forward-looking statements that are based on management’s 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’s 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’s Securities and Exchange Commission filings, including but not limited to the most recently filed Annual Report on Form 10-K.

About eXp World Holdings

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.

For more information, please visit the company’s website at www.eXpRealty.com.

Reported Consolidated Results

Connect with eXp Realty and eXp World Holdings:

Media Relations Contact:

Cynthia Nowak
Director of marketing and communications, eXp Realty
360.419.5285 ext. 116
[email protected]

Investor Relations Contact:

Greg Falesnik
Managing director, MZ Group – MZ North America
949.385.6449
[email protected]

 

The post eXp World Holdings Reports Record First Quarter 2018 Results, Receives Approval to Uplist to Nasdaq appeared first on eXp World Holdings.

Leave a Reply

Your email address will not be published. Required fields are marked *