Loading...
•
Mar 31, 2020
eXp World Q1 2020 Earnings Report
Estimated Revenue:$249M
+44.2% YoY
Estimated EPS:-$0.02
+66.7% YoY
Key Takeaways
eXp World Holdings reported a profitable first quarter with net income of $0.2 million, marking the second consecutive profitable quarter. Revenue grew 73% year-over-year, driven by agent growth and increased transactions.
Revenue increased 73% to $271 million compared to the previous year.
Gross profit increased 93% to $28.0 million.
Net income was reported at $0.2 million, compared to a net loss in the previous year.
The number of agents and brokers increased 59% to 28,449.
Forward Guidance
The company anticipates revenue growth and home transaction sides to slow compared to the prior year as the impacts from COVID-19 continue to affect the economy and housing market. However, the company anticipates that eXp Realty will continue to add agents at levels above competing national brokerages.
Positive Outlook
- eXp is uniquely positioned to adapt.
- VirBELA supports people and teams working together seamlessly without ever needing to leave their homes.
- VirBELA has experienced a dramatic increase in use and adoption due to its effectiveness in supporting remote work and virtual events during this time of social distancing.
- Accelerated growth opportunities as companies embrace the new normal for how business is conducted as the need and desire for physical distancing takes center stage.
- eXp Realty will continue to add agents at levels above competing national brokerages.
Challenges Ahead
- Volatile year for many industries.
- The backdrop of the global health crisis will change how people will work together and even how they socialize.
Loading...
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...