EXp Continues Its String Of Record Results As Q1 2021 Earnings Are Announced - Gistlobby - Latest News, Download Music, Read Reviews

eXp Continues Its String of Record Results as Q1 2021 Earnings Are Announced

eXp Continues Its String of Record Results as Q1 2021 Earnings Are Announced
Outcomes Present Report Income of $583.8 million — a YoY multiplied to 115%

Report results and agent progress have been a continuing drumbeat for eXp World Holdings through the years and once again, eXp has exceeded numbers on both fronts as outcomes for Q1 2021 have been released. (See press release right here.)

First Quarter 2021 Financial Highlights:

  • Income elevated 115% to a record of $583.8 million USD within the first quarter of 2021, in comparison with $271.4 million in the same year-ago quarter.
  • Gross revenue elevated 91% to $53.5 million within the first quarter of 2021, in comparison with $28.0 million in the last year-ago quarter.
  • Net earnings increased faster 3,348% to $4.8 million within the first quarter of 2021, in comparison with $0.1 million in the last year-ago quarter.
  • Adjusted EBITDA (a non-GAAP financial measure) increased 159% to $14.8 million within the first quarter of 2021, in comparison with $5.7 million in the last year-ago quarter.
  • Operating cash flow (a non-GAAP financial measure) increased 184% to $40.6 million within the first quarter of 2021, in comparison with $14.3 million in the last year-ago quarter.
  • As of March 31, 2021, cash and cash equivalents totaled $104.4 million, in comparison with $44.3 million as of March 31, 2020. The Firm repurchased roughly $34.0 million of frequent stock in the course of the first quarter of 2021.

Management Commentary

“As the quickest organically rising real estate brokerage on the planet, we’re making some considerable growth with gaining market share within the U.S.A and globally, having grown our agent base 77% year-over-year to exceed the 50,000-agent milestone within the quarter,” stated Glenn Sanford, Founder, Chairman, and CEO of eXp World Holdings.

“Our document first quarter income and profitability is a direct end result of agents continuing to seek out success leveraging eXp’s distinctive brokerage model and agent worth proposition. Not solely are we experiencing an acceleration within the number of brokers becoming a member of eXp, however, the agents we’re attracting have proven to be more and more productive and our Net Promoter Rating continues to climb.

“Whereas the sustained power within the broader actual property market has provided a complementary atmosphere for our core operations, our record outcomes are attributable to eXp’s dedication to surrounding our agents with an unmatched suite of instruments and sources that drive optimistic engagement. This development of our cloud-based business is being achieved fully inside our virtual working setting, which gives as a key differentiator for aggressively scaling our platform internationally, as effective as within the U.S.A the place a major opportunity to proceed to conquers market share remains. As we proceed forward, we’ll keep our concentrate on discovering revolutionary tactics for real estate professionals to achieve probably the most agent-centric model on the planet,” concluded Sanford. 

First Quarter 2021 Operational Highlights:

  • Brokers and Agents on the eXp Realty platform increased 77% to 50,333 at the end of the first quarter of 2021, in comparison with 28,449 at the end of the first quarter of 2020.
  • Residential and business transaction sides closed elevated 95% to 73,878 within the first quarter of 2021, in comparison with 37,882 in the last year-ago quarter.
  • Residential and business transaction volume closed elevated 123% to $24.5 billion within the first quarter of 2021, in comparison with $11.0 billion in the last year-ago quarter.
  • eXp Realty expanded into 4 new international areas and territories within the first quarter of 2021, together with Puerto Rico, Brazil, Italy, and Hong Kong. Subsequent to the end of the first quarter, the Company efficiently launched in Colombia and publicly announced plans to establish operations in Spain and Israel by the end of the second quarter of 2021.
  • eXp Realty ended the first quarter of 2021 with a 73 world Net Promoter rates, a measure of agent satisfaction, via the Company’s intense concentrate on agent expertise. This compares to a 70 world Net Promoter Rating at the end of the first quarter of 2020.

“the company substantial year-over-year will increase in income and cash flow generation has been pushed by industry-leading agent development and sustained transaction volume,” stated Jeff Whiteside, CFO and Chief Collaboration Officer of eXp World Holdings. “Beyond the inherent advantages of agents compensation model, the company tech-enabled choices are more and more contributing to the company aggressive place by enabling the company to scale at a speedy tempo. We now have robust execution against our domestic progress strategy whereas continuing to launch new international markets and increasing our industrial brokerage business that lends properly to our general model.”

First Quarter 2021 Financial Results – Virtual Fireside Chat

The Company will host a virtual live chat and investor Q&A session with eXp World Holdings Founder and CEO Glenn Sanford, CFO Jeff Whiteside, and President of U.S.A Development Dave Conord on Thursday, May 6, 2021, to discuss first quarter 2021 financial outcomes and up to date milestone progress. Greg Falesnik, CEO of MZ North America, will moderate the discussion.

The investor Q&A is open to investors, present stockholders, and anybody considering learning extra on how eXp World Holdings and its platform works.

Date: Thursday, May 6, 2021
Time: 2 p.m. PDT/ 5 p.m. EDT
Location: EXPI Campus. Be a part of at https://expworldholdings.com/contact/download/
Livestream: expworldholdings.com/events

About eXp World Holdings, Inc.

eXp World Holdings, Inc. (Nasdaq: EXPI) is the holding company for eXp Realty, Virbela, and SUCCESS Enterprises.

eXp World Holdings and its global brokerage, eXp Realty, is one of the fastest-growing real estate tech companies globally with more than 53,000 agents in the USA, Canada, the UK, Australia, South Africa, India, Mexico, Portugal, France, Puerto Rico, Brazil, Italy, Hong Kong, and Colombia, and continues to scale internationally. As a publicly-traded company, eXp Realty offers real estate professionals the distinctive opportunity to earn fairness awards for production goals and contributions to general company progress. eXp Realty and its companies provide a full suite of brokerage and real estate tech options, together with its modern residential and industrial brokerage model, skilled services, collaborative tools and own growth. The cloud-based brokerage is powered by an immersive 3D platform that’s deeply social and collaborative, enabling agents to be more linked and productive.

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