Key Highlights
- eXp World Holdings, parent company of eXp Realty, increased its Q3 2020 revenue by +100% to a record $564M
- Company’s gross profit increased +103% to $46.8M in Q3
- Company’s agent count increased +56% to 35,877 at end of Q3 2020
Doesn’t get much better than this – eXp World Holdings, the parent company of eXp Realty, increased its revenue, gross profits and agent count exponentially in Q3 2020. Take a look:
- Revenue up +100% to $564M compared to $282.M the year prior
- Gross profit up +103% to $46.8M compared to $23M the year prior
- Agent count up +56% to 35,877 compared to 23,034 the year prior
- Residential transaction sides up +95% to 75,392 compared to 38,567 the year prior
- Residential transaction volume up +112% to $23.6B compared to $11.1B the year prior
Glenn Sanford, founder, chairman and CEO of eXp World Holdings, said, “The third quarter of 2020 was highlighted by our record-breaking financial results, driving the most profitable quarter in the company’s history by our continual focus on being the most agent-centric brokerage on the planet.”
How does eXp forecast the company’s progressive growth into Q4 2020 and and the future? Jeff Whiteside, CFO and chief collaboration officer with eXp World Holdings, said, “The momentum we saw in agent and revenue growth in the third quarter is expected to continue into the fourth quarter of 2020 and beyond.”
The well-regarded evaluator of public companies, Simply Wall Street, shares Whiteside’s opinion. It believes the company is trading at -51.8% of its market value and expects its earnings to increase +44.8% per year.
Thanks to eXp World Holdings, HousingWire and Simply Wall Street.
Also read: Luxury Home Sales Jump +41.5% in Q3 2020, Palm Beach Hottest Housing Market “In the World?”, Top Housing Markets Most Vulnerable to COVID-Economic Impacts
