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Sep 30, 2021
eXp World Q3 2021 Earnings Report
Revenue nearly doubled year-over-year, driven by agent growth.
Key Takeaways
eXp World Holdings reported a record third quarter with revenue increasing by 97% to $1.1 billion. Agent growth was a key driver, increasing 82% year-over-year. The company declared a cash dividend for Q4 2021 of $0.04 per share.
Revenue increased 97% to a record $1.1 billion.
Gross profit increased 70% to $79.5 million.
Net income increased 60% to $23.8 million, which included a $12.9 million income tax provision benefit. Earnings per diluted share increased 50% to $0.15.
Agents and brokers on the eXp Realty platform increased 82% to 65,269.
Forward Guidance
The company will continue making strategic investments in technologies that focus on enhancing agents’ capabilities, which will further differentiate eXp and drive long-term growth.
Positive Outlook
- Continued growth of our agent and broker base
- Expansion of our residential real estate brokerage business into foreign markets
- Demand for remote working and distance learning solutions and virtual events
- Development of our new commercial brokerage and our ability to attract commercial real estate brokers
- Revenue growth and financial performance
Challenges Ahead
- Changes in business or other market conditions
- The difficulty of keeping expense growth at modest levels while increasing revenues
- Economic and social effects of the COVID-19 pandemic
- 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 Quarterly Report on Form 10-Q and Annual Report on Form 10-K.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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