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Sep 30, 2020
eXp World Q3 2020 Earnings Report
Reported record third quarter financial results.
Key Takeaways
eXp World Holdings reported a record third quarter with revenues increasing by 100% to $564 million, driving a net income of $14.9 million.
Revenue increased by 100% to a record $564.0 million compared to Q3 2019.
Gross profit increased 103% to $46.8 million compared to Q3 2019.
Net income was $14.9 million, or $0.20 per diluted share, compared to a net loss of $1.8 million in Q3 2019.
Adjusted EBITDA increased 512% to $21.8 million compared to Q3 2019.
Forward Guidance
The momentum in agent and revenue growth in the third quarter is expected to continue into the fourth quarter of 2020 and beyond.
Positive Outlook
- Continue international expansion efforts by launching brokerage operations in key markets, including South Africa, India and Mexico.
- Moving forward with the rollout of eXp Commercial.
- Continued introduction of affiliated services.
- Expect to drive long-term value for shareholders.
- Continue adding agents at a rapid pace and growing our overall residential real estate business, both domestically and abroad
Historical Earnings Impact
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Avg. Return Before/After Earnings
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