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Dec 31, 2025
eXp World Q4 2025 Earnings Report
eXp World Holdings reported its fourth quarter and full-year 2025 financial results, highlighting revenue growth and strategic AI integration.
Key Takeaways
eXp World Holdings achieved a 4% year-over-year revenue increase for the full year 2025, reaching $4.8 billion. Despite a net loss in Q4, the company saw improvements in operating expenses and continued to expand its global agent footprint and technological capabilities, particularly in AI-driven platforms.
Q4 2025 revenue reached $1.2 billion, contributing to a record full-year revenue of $4.8 billion.
Global agent count stood at 83,060 as of year-end, with a global agent Net Promoter Score of 75.
Full-year real estate sales volume increased 5% to $194.0 billion, with Q4 volume up 8% year-over-year.
The company maintained a strong liquidity position with $124.2 million in cash and cash equivalents and no debt.
Forward Guidance
The company provided outlook for Q1 2026 and the full year 2026, expecting continued revenue growth and improved operating leverage.
Positive Outlook
- Q1 2026 revenue is projected between $960 million and $980 million.
- Full-year 2026 revenue is expected to reach between $4.85 billion and $5.15 billion.
- Anticipated margin improvements driven by prior investments and focused execution.
- Expansion into seven new countries with improved speed and efficiency.
- Deep integration of AI tools like LYVVE and SUCCESS+ to support agent productivity.
Challenges Ahead
- Q1 2026 Adjusted EBITDA is expected to be relatively low, between $2 million and $5 million.
- Operating expenses for Q1 2026 are projected between $82 million and $86 million.
- Full-year 2026 operating expenses are forecasted between $325 million and $345 million.
Historical Earnings Impact
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