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Mar 31, 2024
eXp World Q1 2024 Earnings Report
Revenue increased driven by agent productivity and international production, but net loss occurred due to antitrust litigation contingency provision.
Key Takeaways
eXp World Holdings reported an 11% increase in revenue to $943 million for Q1 2024. However, the company experienced a net loss of $15.6 million, or $0.10 per diluted share, primarily due to a $16 million antitrust litigation contingency provision. Despite the net loss, the company generated significant cash flow and returned $41 million to shareholders through share repurchases and dividends.
Revenue increased by 11% year-over-year to $943 million.
Net loss was ($15.6) million, or ($0.10) per diluted share, impacted by a $16 million antitrust litigation contingency provision.
Adjusted EBITDA decreased 24% year-over-year to $11.0 million.
The company repurchased approximately $33.0 million of common stock and paid cash dividends of $0.05 per share.
Forward Guidance
The company did not provide specific forward guidance in this earnings report.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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