eXp Realty Parent Posts Record Full Year Revenue of 3.8 Billion
eXp World Holdings, parent of eXp Realty, said full-year 2021 revenue rose 110 percent to a record 3.8 billion dollars and fourth-quarter revenue rose 77 percent to 1.1 billion dollars. Full-year net income rose 162 percent to 81.2 million dollars, or 51 cents per diluted share. Adjusted EBITDA was 78.0 million dollars, or 88.0 million dollars excluding a 10 million dollar one-time legal settlement. Agents and brokers on the platform rose 72 percent to 71,137 at year-end.
Founder and chief executive Glenn Sanford said nearly 30,000 new agents joined across six continents. The company expanded into nine international markets in 2021 and said it had launched in the Dominican Republic in February 2022 with Greece and New Zealand planned. The board declared a 4-cent first-quarter 2022 dividend payable March 31, 2022. Cash and cash equivalents were 108.2 million dollars at December 31, 2021.
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