eXp Realty
November 2, 2023
BELLINGHAM, Wash., November 2, 2023 --
eXp World Holdings, Inc., parent of eXp Realty, reported third-quarter 2023 revenue of 1.2 billion dollars, down 2 percent from a year earlier. Gross profit fell 10 percent to 83.6 million dollars and net income was 1.3 million dollars, or 0.01 dollars per diluted share, compared with 0.03 dollars a year earlier. Adjusted EBITDA rose 53 percent to 19.0 million dollars.
Agents and brokers on the eXp Realty platform rose 5 percent to 89,156 across 24 global markets as of September 30. Transactions increased 1 percent to 139,480, while transaction volume fell 4 percent to 48.5 billion dollars. International realty revenue rose 47 percent to a record. Founder, Chairman and Chief Executive Glenn Sanford said the company's U.S. agents outperformed a slower housing market.
The company repurchased about 55.9 million dollars of stock during the quarter, ended September with 120.1 million dollars in cash and declared a fourth-quarter dividend of 0.05 dollars per share.