- eXp World Holdings has record-breaking Q1 2021 on all counts
- Revenue, gross profit, net income, agent count, transaction sides, transaction volume all up substantially from Q1 2020
Q1 2021 eXp World Holdings Earning Report Breaks Records
To say that eXp World Holdings, the holding company for eXp Realty, VirBELA and SUCCESS Enterprises, delivered AMAZING results in Q1 2021 is an understatement. eXp World Holdings delivered RECORD BREAKING results in Q1 2021.
EXp’s revenue increased +115% y/y to $584M and its agent count grew by 77%.
Q1 2021 Financial Highlights for eXp World Holdings
Take a look at eXp’s summarized financial highlights during Q1 2021:
- Revenue jump of +115% to $583.8Min Q1 2021 from $271.4M in Q1 2020
- Gross profit jump of +91% to $53.5Min Q1 2021 from $28.0M in Q1 2020
- Net income jump of 3,348% to $4.8Min Q1 2021 from $0.1M in Q1 2020
- Adjusted EBITDA jump of +159% to $14.8Min Q1 2021 from $5.7M in Q1 2020
- Operating cash flow jump of +184%to $40.8Min Q1 2021 from $14.3M in Q12020
- Cash and cash equivalents totaled $104.4Mon March 31, 2021 from $44.3M on March 31, 2020
- Company repurchased some $34.0M of common stockduring Q1 2021
Q1 2021 Operational Highlights
eXp’s operational and financial results were mirror images of each other. According to eXp World Holdings Founder and Chairman Glenn Sanford, “Our record first quarter revenue and profitability is a direct result of agents continuing to succeed leveraging eXp’s unique brokerage model and agent value proposition.”
Take a look at some of eXp’s operational highlights during Q1 2021:
- Agent/broker count jumped +77% to 50,333 in Q1 2021 from 28,449 in Q1 2020
- Residential and commercial transaction sides jumped +95% to 73,878 in Q1 2021 from 37,882 in Q1 2020
- Residential and commercial transaction volume closed jumped +123% to $24.5B in Q1 2021 from $1`1.0B in Q1 2020
- eXp Realty expanded into four new international locations and territories (Puerto Rico, Brazil, Italy and Hong Kong) in Q1 2021
- In Q2 2021, eXp Realty launched in Colombia and announced expansion efforts into Spain and Israel by the end of Q2
- eXp Realty’s global Net Promoter Score (agents satisfaction calculator) jumped to 73 in Q1 2021 from 70 in Q1 2020. This increase reflects eXp’s unique model and focus on agent-centricity
eXp World Holdings and its global cloud-based brokerage, eXp Realty, is among the world’s fastest growing real estate tech companies. The brokerage now operates in the United States, Canada, the United Kingdom, Australia, South Africa, India, Mexico, Portugal, France, Puerto Rico, Brazil, Italy, Hong Kong and Columbia. The company has announced plans to scale into Spain and Israel by the end of Q2 2021.
Uniquely, this publicly traded, cloud-based company enables real estate professionals to earn equity awards via their production goals and contributions to company growth.
Thanks to eXp World Holdings.
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