eXp World Holdings reported on their Q1 2021.
-
Revenue increase of 115% to $583.8 million in Q1 2021, compared to $271.4 million same quarter last year
-
Gross profit increased 91% to $53.5M in Q1 2021, compared to $28M same quarter last year
-
Net income increased 3,348% to $4.8M Q1 2021, compared to $0.1M same quarter last year
-
Adjusted EBITDA increased 159% to $14.8M in Q1 2021, compared to $5.7M same quarter last yaer
-
Operating cash flow increased 184% to $40.6 million in the first quarter of 2021, compared to $14.3 million same quarter last year
-
As of March 31, 2021, cash and cash equivalents totaled $104.4 million, compared to $44.3 million as of March 31, 2020.
-
The Company repurchased approximately $34.0 million of common stock during the first quarter of 2021.
First Quarter 2021 Operational Highlights:
* Agents and brokers on the eXp Realty platform increased 77% to 50,333 at the end of the first quarter of 2021, compared to 28,449 at the end of the first quarter of 2020.
* Residential and commercial transaction sides closed increased 95% to 73,878 in the first quarter of 2021, compared to 37,882 in the same year-ago quarter.
* Residential and commercial transaction volume closed increased 123% to $24.5 billion in the first quarter of 2021, compared to $11.0 billion in the same year-ago quarter.
* eXp Realty expanded into four new international locations and territories in the first quarter of 2021, including Puerto Rico, Brazil, Italy, and Hong Kong. Subsequent to the end of the first quarter, the Company successfully launched in Colombia, and announced plans to establish operations in Spain and Israel by the end of the second quarter of 2021.
* eXp Realty ended the first quarter of 2021 with a 73 global Net Promoter Score, a measure of agent satisfaction, through the Company’s intense focus on the agent experience. This compares to a 70 global Net Promoter Score at the end of the first quarter of 2020.
They reported pre-market, and the stock price is taking a beating right now. Couldn’t find any guidance for the year, nor for next quarter.
https://expworldholdings.com/press-releases/exp-world-holdin…