eXp Realty
November 2, 2022
eXp World Holdings reported record third-quarter 2022 revenue of 1.2 billion dollars, up 12 percent from a year earlier. Gross profit rose 17 percent to 93.1 million dollars, while net income fell to 4.4 million dollars, or 0.03 dollars per share, from 23.8 million dollars. Adjusted EBITDA was 12.3 million dollars.
Agent count rose 30 percent to 84,911 and transactions increased 6 percent to 138,354. The company repurchased 59.8 million dollars of stock during the quarter, held 134.5 million dollars in cash, and declared a fourth-quarter dividend of 0.045 dollars per share.
Chairman and chief executive Glenn Sanford and chief financial officer Jeff Whiteside said the company continued to gain agents and share in a slowing housing market.