eXp World Holdings Reports Q2 2025 Results
eXp World Holdings (NASDAQ: EXPI) reported mixed Q2 2025 financial results. Revenue increased 1% to $1.3 billion, but the company recorded a net loss of $(2.3) million, or $(0.01) per share. The company's agent count decreased by 5% to 82,704 agents, while real estate sales volume grew 1% to $52.5 billion.
Key financial metrics include $11.2 million in Adjusted EBITDA and cash reserves of $94.6 million. The company maintained shareholder returns through a $0.05 quarterly dividend and distributed $32.6 million to shareholders via dividends and share repurchases. Operating expenses increased to $1.31 billion, with adjusted operating costs rising 20% to $95.0 million due to strategic investments and severance costs.
eXp World Holdings (NASDAQ: EXPI) ha riportato risultati finanziari contrastanti per il secondo trimestre del 2025. I ricavi sono aumentati dell'1%, raggiungendo 1,3 miliardi di dollari, ma la società ha registrato una perdita netta di 2,3 milioni di dollari, pari a 0,01 dollari per azione. Il numero di agenti è diminuito del 5%, arrivando a 82.704 agenti, mentre il volume delle vendite immobiliari è cresciuto dell'1%, raggiungendo 52,5 miliardi di dollari.
I principali indicatori finanziari includono un EBITDA rettificato di 11,2 milioni di dollari e riserve di liquidità pari a 94,6 milioni di dollari. La società ha mantenuto i ritorni per gli azionisti con un dividendo trimestrale di 0,05 dollari e ha distribuito 32,6 milioni di dollari attraverso dividendi e riacquisti di azioni. Le spese operative sono aumentate a 1,31 miliardi di dollari, con i costi operativi rettificati in crescita del 20% a 95,0 milioni di dollari, a causa di investimenti strategici e costi di licenziamento.
eXp World Holdings (NASDAQ: EXPI) presentó resultados financieros mixtos para el segundo trimestre de 2025. Los ingresos aumentaron un 1% hasta 1,3 mil millones de dólares, pero la compañía registró una pérdida neta de 2,3 millones de dólares, o 0,01 dólares por acción. El número de agentes disminuyó un 5% hasta 82,704 agentes, mientras que el volumen de ventas inmobiliarias creció un 1% hasta 52,5 mil millones de dólares.
Los principales indicadores financieros incluyen un EBITDA ajustado de 11,2 millones de dólares y reservas de efectivo por 94,6 millones de dólares. La empresa mantuvo los retornos para los accionistas mediante un dividendo trimestral de 0,05 dólares y distribuyó 32,6 millones de dólares a través de dividendos y recompras de acciones. Los gastos operativos aumentaron a 1,31 mil millones de dólares, con costos operativos ajustados incrementándose un 20% hasta 95,0 millones de dólares debido a inversiones estratégicas y costos por despidos.
eXp World Holdings (NASDAQ: EXPI)는 2025년 2분기 재무 실적에서 혼재된 결과를 보고했습니다. 매출은 1% 증가하여 13억 달러를 기록했으나, 순손실은 230만 달러, 주당 손실은 0.01달러였습니다. 에이전트 수는 5% 감소하여 82,704명이 되었으며, 부동산 판매량은 1% 증가하여 525억 달러에 달했습니다.
주요 재무 지표로는 조정 EBITDA 1,120만 달러와 현금 보유액 9460만 달러가 포함됩니다. 회사는 분기별 0.05달러 배당금을 통해 주주 수익을 유지했으며, 배당금과 자사주 매입을 통해 3,260만 달러를 주주에게 분배했습니다. 운영 비용은 13억 1천만 달러로 증가했으며, 전략적 투자 및 퇴직 비용으로 인해 조정된 운영 비용은 20% 증가한 9,500만 달러를 기록했습니다.
eXp World Holdings (NASDAQ: EXPI) a publié des résultats financiers mitigés pour le deuxième trimestre 2025. Le chiffre d'affaires a augmenté de 1 % pour atteindre 1,3 milliard de dollars, mais la société a enregistré une perte nette de 2,3 millions de dollars, soit 0,01 dollar par action. Le nombre d'agents a diminué de 5 % pour atteindre 82 704 agents, tandis que le volume des ventes immobilières a progressé de 1 % pour atteindre 52,5 milliards de dollars.
Les indicateurs financiers clés incluent un EBITDA ajusté de 11,2 millions de dollars et des réserves de trésorerie de 94,6 millions de dollars. La société a maintenu les rendements pour les actionnaires grâce à un dividende trimestriel de 0,05 dollar et a distribué 32,6 millions de dollars aux actionnaires via des dividendes et des rachats d'actions. Les dépenses d'exploitation ont augmenté à 1,31 milliard de dollars, avec des coûts opérationnels ajustés en hausse de 20 % à 95,0 millions de dollars en raison d'investissements stratégiques et de coûts de licenciement.
eXp World Holdings (NASDAQ: EXPI) meldete gemischte Finanzergebnisse für das zweite Quartal 2025. Der Umsatz stieg um 1 % auf 1,3 Milliarden US-Dollar, jedoch verzeichnete das Unternehmen einen Nettoverlust von 2,3 Millionen US-Dollar bzw. 0,01 US-Dollar pro Aktie. Die Anzahl der Agenten sank um 5 % auf 82.704 Agenten, während das Immobilienverkaufsvolumen um 1 % auf 52,5 Milliarden US-Dollar zunahm.
Wichtige finanzielle Kennzahlen umfassen ein bereinigtes EBITDA von 11,2 Millionen US-Dollar und Barmittelreserven in Höhe von 94,6 Millionen US-Dollar. Das Unternehmen hielt die Aktionärsrenditen durch eine vierteljährliche Dividende von 0,05 US-Dollar aufrecht und verteilte 32,6 Millionen US-Dollar an Dividenden und Aktienrückkäufen an die Aktionäre. Die Betriebskosten stiegen auf 1,31 Milliarden US-Dollar, wobei die bereinigten Betriebskosten aufgrund strategischer Investitionen und Abfindungskosten um 20 % auf 95,0 Millionen US-Dollar zunahmen.
- None.
- Net loss of $(2.3) million compared to previous profitability
- Agent count decreased 5% to 82,704
- Real estate transactions declined 2% to 118,612
- Adjusted operating costs increased 20% due to strategic investments and severance
- Cash and equivalents decreased to $94.6 million from $108.4 million year-over-year
Insights
eXp reported modest 1% revenue growth amid agent count decline, posting a small net loss while continuing shareholder returns through dividends and buybacks.
eXp World Holdings delivered a mixed Q2 2025 performance with
The divergence between falling agent numbers and rising revenue suggests improved agent productivity, with transaction volume growing
Operating expenses increased to
eXp's balance sheet shows
The agent Net Promoter Score improved slightly to 77, suggesting the company's agent-centric focus is resonating despite the declining headcount. eXp's international business appears to be a bright spot, with management highlighting "robust agent productivity and expanding global reach" in contrast to potential challenges in the domestic market.
BELLINGHAM, Wash., July 31, 2025 (GLOBE NEWSWIRE) -- eXp World Holdings, Inc. (Nasdaq: EXPI), or the “Company”, the holding company for eXp Realty®, FrameVR.io and SUCCESS® Enterprises,, today announced financial results for the second quarter ended June 30, 2025.
“eXp was built by agents, for agents and that foundation continues to fuel our momentum,” said Leo Pareja, CEO of eXp Realty. “Our continued investments in the agent value stack and ongoing programs like the co-sponsor initiative are resonating with the best agents and teams in the industry. By putting innovation and agent opportunity at the core of everything we do, we’re not only attracting the most productive agents in the industry, we’re shaping a more transparent, competitive, and agent-empowered future for real estate.”
“eXp continues to demonstrate remarkable resilience in a dynamic real estate environment, underpinned by our agent-first model and commitment to innovation,” said Glenn Sanford, Founder, Chairman and CEO of eXp World Holdings. “Our International business continues to grow rapidly, with robust agent productivity and expanding global reach that validate our platform’s scalability and universal appeal. Having been deeply involved in guiding our international strategy, I’m now turning my attention to SUCCESS® Enterprises with the same focus and determination. As Publisher and Managing Director, I plan to focus on curating experiences in SUCCESS+ with the goal of expanding the brand overall. Just as we’ve built a thriving business across borders, I’m confident we can unlock new potential within SUCCESS® and reinvigorate it as a core driver of value for our agents and shareholders alike.”
Second Quarter 2025 Consolidated Financial Highlights as Compared to the Same Year-Ago Period:
- Revenue increased
1% to$1.3 billion . - Net loss of
$(2.3) million and net loss per diluted share of$(0.01) . - Total operating expenses increased to
$1.31 billion from$1.28 billion . Excluding commissions and other agent-related costs, adjusted operating costs1 were$95.0 million , a20% increase compared to the second quarter of 2024. This increase was driven by strategic investments to streamline operations and severance. - Adjusted EBITDA2 (a non-GAAP financial measure) of
$11.2 million . - As of June 30, 2025, cash and cash equivalents totaled
$94.6 million , compared to$108.4 million as of June 30, 2024. This reflects the Company's payment of the first$17.0 million installment related to its$34.0 million antitrust litigation settlement during the fiscal quarter ended June 30, 2025. - Net cash provided by operating activities of
$36.1 million . - Adjusted operating cash flow3 (a non-GAAP financial measure) of
$13.4 million . - Distributed
$32.6 million to shareholders, including$24.9 million of common stock repurchases and$7.7 million of cash dividends. - The Company paid a cash dividend for the second quarter of 2025 of
$0.05 per share of common stock on June 4, 2025. On July 24, 2025, the Company’s Board of Directors declared a cash dividend of$0.05 per share of common stock for the third quarter of 2025, expected to be paid on August 29, 2025 to stockholders of record on August 15, 2025.
_______________
1 A discussion of why management believes adjusted operating costs, a non-GAAP measure, is useful is included below. Adjusted operating costs exclude commissions and other agent-related costs.
2 A reconciliation of adjusted EBITDA to net income and a discussion of why management believes adjusted EBITDA, a non-GAAP measure, is useful is included below.
3 A reconciliation of adjusted operating cash flow, a non-GAAP measure, to operating cash flow and a discussion of why management believes adjusted operating cash flow is useful is included below.
Second Quarter 2025 Operational Highlights as Compared to the Same Year-Ago Period:
- eXp ended the second quarter of 2025 with a global agent Net Promoter Score (“aNPS”) of 77, up from 76 in the prior-year period. aNPS is a measure of agent satisfaction and an important key performance indicator given the Company’s intense focus on improving the agent experience.
- Agents and brokers on the eXp Realty platform decreased (5)% to 82,704 as of June 30, 2025.
- Real estate sales transactions decreased (2)% to 118,612 in the second quarter of 2025.
- Real estate sales volume increased
1% to$52.5 billion in the second quarter of 2025.
Second Quarter 2025 Results – Virtual Fireside Chat
The Company will hold a virtual fireside chat and investor Q&A with eXp World Holdings Founder and Chief Executive Officer Glenn Sanford, eXp Realty Chief Executive Officer Leo Pareja, eXp Realty Chief Marketing Officer Wendy Forsythe, Managing Director eXp Realty International Felix Bravo, and eXp World Holdings Chief Financial Officer Jesse Hill on Thursday, July 31, 2025 at 2 p.m. PT / 5 p.m. ET.
The investor Q&A is open to investors, current shareholders and anyone interested in learning more about eXp World Holdings and its companies. Submit questions in advance for inclusion to investors@eXpWorldHoldings.com.
Date: Thursday, July 31, 2025
Time: 2 p.m. PT / 5 p.m. ET
Location: exp.world. Join at https://exp.world/earnings
Livestream: expworldholdings.com/events
About eXp World Holdings, Inc.
eXp World Holdings, Inc. (Nasdaq: EXPI) (the “Company”) is the holding company for eXp Realty® and SUCCESS® Enterprises. eXp Realty is the largest independent real estate brokerage in the world, with over 82,000 agents across 28 countries. As a cloud-based, agent-centric brokerage, eXp Realty provides real estate agents industry-leading commission splits, revenue share, equity ownership opportunities, and a global network that empowers agents to build thriving businesses. For more information about eXp World Holdings, Inc., visit: expworldholdings.com
SUCCESS® Enterprises, anchored by SUCCESS® magazine, has been a trusted name in personal and professional development since 1897. As part of the eXp ecosystem, it offers agents access to valuable resources to enhance their skills, grow their businesses, and achieve long-term success. For more information about SUCCESS, visit success.com.
eXp World Holdings, Inc. intends to use its:
- eXp investors website (www.expworldholdings.com/investors/);
- eXp Realty LinkedIn page (https://www.linkedin.com/company/exp-realty/);
- eXp Realty Facebook Page (https://www.facebook.com/eXpRealty);
- eXp Realty Instagram Page (https://www.instagram.com/eXpRealty);
- eXp International LinkedIn Page (https://www.linkedin.com/company/exp-realty-international/);
- eXp International Facebook Page (https://www.facebook.com/expintl/);
- eXp International Instagram Page (https://www.instagram.com/exp.intl/);
- eXp World Holdings LinkedIn page (https://www.linkedin.com/company/expworldholdings/);
- eXp World Holdings Facebook Page (https://www.facebook.com/eXpWorldHoldings); and
- eXp World Holdings Instagram Page (https://www.instagram.com/eXpWorldHoldings)
as a means of disclosing material non-public information and to comply with its disclosure obligations under Regulation FD.
Use of Non-GAAP Financial Measures
To provide investors with additional information regarding our financial results, this press release includes references to adjusted operating costs, adjusted EBITDA, and adjusted operating cash flow which are non-U.S. GAAP financial measures that may be different from similarly titled measures used by other companies. These measures are presented to enhance investors’ overall understanding of the Company’s financial performance and should not be considered a substitute for, or superior to, the financial information prepared and presented in accordance with U.S. GAAP.
The Company’s non-U.S. GAAP financial measures provide useful information about financial performance, enhance the overall understanding of past performance and future prospects, and allow for greater transparency with respect to key metrics used by management for financial and operational decision-making. These measures may also provide additional tools for investors to use in comparing core financial performance over multiple periods with other companies in the industry.
- Adjusted operating costs helps the reader understand the trends in our general, administrative, technology and other costs. The Company defines adjusted operating costs as operating costs excluding commissions and other agent-related costs and the litigation contingency.
- Adjusted EBITDA helps identify underlying trends in the business that could otherwise be masked by the effect of the expenses excluded in adjusted EBITDA. In particular, the Company believes the exclusion of stock-based compensation and stock option expenses provides a useful supplemental measure in evaluating the performance of operations and provides better transparency into results of operations. The Company defines adjusted EBITDA to mean net income (loss) from continuing operations, excluding other income (expense), income tax benefit (expense), depreciation, amortization, impairment charges, litigation contingency expenses, stock-based compensation expense, stock option expense and other items not core to the operating activities of the Company.
- Adjusted operating cash flow helps the reader understand the Company’s cash flow. The Company defines the adjusted operating cash flow to mean net cash provided by operating activities, excluding the change in customer deposits.
Adjusted operating costs, adjusted EBITDA, and adjusted operating cash flow should not be considered in isolation from, or as a substitute for, financial information prepared in accordance with U.S. GAAP.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements reflect the Company’s and its management’s current expectations but involve known and unknown risks and uncertainties that could impact actual results materially. These statements include, but are not limited to, statements regarding international expansion; expansion of the SUCCESS brand; revenue growth; dividends; additions of teams and agents in the future; technology development; and financial performance. Important factors that may cause actual results to differ materially and adversely from those expressed in forward-looking statements include real estate market fluctuations, changes in agent retention or recruitment, the Company’s ability to expand successfully in international markets; the Company’s ability to successfully develop the SUCCESS brand; competitive pressures; regulatory changes; outcomes of ongoing litigation; and other risks detailed from time to time in the Company’s Securities and Exchange Commission filings, including but not limited to the Company’s most recently filed Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q. New risk factors and uncertainties may emerge from time to time, and it is not possible for management to predict all risk factors and uncertainties. We do not undertake any obligation to update these statements except as required by law.
Media Relations Contact:
eXp World Holdings, Inc.
mediarelations@expworldholdings.com
Investor Relations Contact:
Denise Garcia
investors@expworldholdings.com
| EXP WORLD HOLDINGS, INC. | |||||||||||||||
| CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS | |||||||||||||||
| (In thousands, except share amounts and per share data) | |||||||||||||||
| (UNAUDITED) | |||||||||||||||
| Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||
| 2025 | 2024 | 2025 | 2024 | ||||||||||||
| Revenues | $ | 1,308,877 | $ | 1,295,244 | $ | 2,263,783 | $ | 2,238,298 | |||||||
| Commissions and other agent-related costs | 1,216,223 | 1,197,668 | 2,094,994 | 2,062,414 | |||||||||||
| General and administrative expenses | 74,076 | 61,160 | 140,947 | 123,742 | |||||||||||
| Technology and development expenses | 18,093 | 14,848 | 34,898 | 29,609 | |||||||||||
| Sales and marketing expenses | 2,861 | 3,031 | 5,696 | 6,170 | |||||||||||
| Litigation contingency | - | - | - | 16,000 | |||||||||||
| Total operating expenses | 1,311,253 | 1,276,707 | 2,276,535 | 2,237,935 | |||||||||||
| Operating (loss) income | (2,376 | ) | 18,537 | (12,752 | ) | 363 | |||||||||
| Other (income) expense | |||||||||||||||
| Other (income) expense, net | (760 | ) | (1,749 | ) | (1,703 | ) | (2,937 | ) | |||||||
| Equity in (income) losses of unconsolidated affiliates | 207 | 374 | 127 | 523 | |||||||||||
| Total other (income) expense, net | (553 | ) | (1,375 | ) | (1,576 | ) | (2,414 | ) | |||||||
| (Loss) income before income tax expense | (1,823 | ) | 19,912 | (11,176 | ) | 2,777 | |||||||||
| Income tax (benefit) expense | 468 | 8,146 | 2,139 | 4,841 | |||||||||||
| Net (loss) income from continuing operations | (2,291 | ) | 11,766 | (13,315 | ) | (2,064 | ) | ||||||||
| Net (loss) income from discontinued operations | - | 617 | - | (1,192 | ) | ||||||||||
| Net (loss) income | $ | (2,291 | ) | $ | 12,383 | $ | (13,315 | ) | $ | (3,256 | ) | ||||
| Earnings (loss) per share | |||||||||||||||
| Basic, net (loss) income from continuing operations | $ | (0.01 | ) | $ | 0.08 | $ | (0.09 | ) | $ | (0.01 | ) | ||||
| Basic, net (loss) income from discontinued operations | - | - | - | (0.01 | ) | ||||||||||
| Basic, net (loss) income | $ | (0.01 | ) | $ | 0.08 | $ | (0.09 | ) | $ | (0.02 | ) | ||||
| Diluted, net (loss) income from continuing operations | $ | (0.01 | ) | $ | 0.08 | $ | (0.09 | ) | $ | (0.01 | ) | ||||
| Diluted, net (loss) income from discontinued operations | - | - | - | (0.01 | ) | ||||||||||
| Diluted, net (loss) income | $ | (0.01 | ) | $ | 0.08 | $ | (0.09 | ) | $ | (0.02 | ) | ||||
| Weighted average shares outstanding | |||||||||||||||
| Basic | 156,091,692 | 153,580,879 | 155,418,668 | 154,160,607 | |||||||||||
| Diluted | 156,091,692 | 155,984,147 | 155,418,668 | 154,160,607 | |||||||||||
| CONSOLIDATED US-GAAP NET (LOSS) INCOME TO ADJUSTED EBITDA RECONCILIATION | |||||||||||||||
| (In thousands) | |||||||||||||||
| (UNAUDITED) | |||||||||||||||
| Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||
| 2025 | 2024 | 2025 | 2024 | ||||||||||||
| Net (loss) income from continuing operations | $ | (2,291 | ) | $ | 11,766 | $ | (13,315 | ) | $ | (2,064 | ) | ||||
| Total other (income) expense, net | (553 | ) | (1,375 | ) | (1,576 | ) | (2,414 | ) | |||||||
| Income tax (benefit) expense | 468 | 8,146 | 2,139 | 4,841 | |||||||||||
| Depreciation and amortization | 2,272 | 2,963 | 4,833 | 5,363 | |||||||||||
| Litigation contingency | — | — | — | 16,000 | |||||||||||
| Stock-based compensation expense (1) | 9,703 | 9,329 | 17,821 | 18,157 | |||||||||||
| Stock option expense | 1,602 | 1,985 | 3,454 | 3,975 | |||||||||||
| Adjusted EBITDA | $ | 11,201 | $ | 32,814 | $ | 13,356 | $ | 43,858 | |||||||
| ADJUSTED OPERATING CASH FLOW | |||||||||||||||
| (In thousands) | |||||||||||||||
| (UNAUDITED) | |||||||||||||||
| Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||
| 2025 | 2024 | 2025 | 2024 | ||||||||||||
| Net Cash Provided by Operating Activities | $ | 36,088 | $ | 71,147 | $ | 75,926 | $ | 131,801 | |||||||
| Less: Customer Deposits | 22,659 | 10,707 | 34,344 | 41,946 | |||||||||||
| Adjusted Operating Cash Flow | $ | 13,429 | $ | 60,440 | $ | 41,582 | $ | 89,855 | |||||||
| EXP WORLD HOLDINGS, INC. | |||||||
| CONDENSED CONSOLIDATED BALANCE SHEETS | |||||||
| (In thousands, except share amounts) | |||||||
| (UNAUDITED) | |||||||
| June 30, 2025 | December 31, 2024 | ||||||
| ASSETS | |||||||
| CURRENT ASSETS | |||||||
| Cash and cash equivalents | $ | 94,551 | $ | 113,607 | |||
| Restricted cash | 90,383 | 54,981 | |||||
| Accounts receivable, net of allowance for credit losses of | 146,193 | 87,692 | |||||
| Prepaids and other assets | 13,830 | 11,692 | |||||
| TOTAL CURRENT ASSETS | 344,957 | 267,972 | |||||
| Property, plant, and equipment, net | 13,434 | 11,615 | |||||
| Other noncurrent assets | 22,075 | 11,679 | |||||
| Intangible assets, net | 5,338 | 6,456 | |||||
| Deferred tax assets, net | 77,557 | 75,774 | |||||
| Goodwill | 17,885 | 17,226 | |||||
| TOTAL ASSETS | $ | 481,246 | $ | 390,722 | |||
| LIABILITIES AND EQUITY | |||||||
| CURRENT LIABILITIES | |||||||
| Accounts payable | $ | 11,286 | $ | 10,478 | |||
| Customer deposits | 90,004 | 55,660 | |||||
| Accrued expenses | 144,576 | 85,661 | |||||
| Litigation contingency | 17,000 | 34,000 | |||||
| Other current liabilities | 14 | 54 | |||||
| TOTAL CURRENT LIABILITIES | 262,880 | 185,853 | |||||
| TOTAL LIABILITIES | 262,880 | 185,853 | |||||
| EQUITY | |||||||
| Common Stock, | 2 | 2 | |||||
| Additional paid-in capital | 1,031,660 | 962,758 | |||||
| Treasury stock, at cost: 44,217,271 and 40,894,822 shares held, respectively | (716,549 | ) | (686,680 | ) | |||
| Accumulated deficit | (96,723 | ) | (68,135 | ) | |||
| Accumulated other comprehensive (loss) | (24 | ) | (3,076 | ) | |||
| TOTAL EQUITY | 218,366 | 204,869 | |||||
| TOTAL LIABILITIES AND EQUITY | $ | 481,246 | $ | 390,722 | |||
| EXP WORLD HOLDINGS, INC. | |||||||
| CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS | |||||||
| (In thousands) | |||||||
| (UNAUDITED) | |||||||
| Six Months Ended June 30, | |||||||
| 2025 | 2024 | ||||||
| OPERATING ACTIVITIES | |||||||
| Net (loss) income | $ | (13,315 | ) | $ | (3,256 | ) | |
| Reconciliation of net income (loss) to net cash provided by operating activities: | |||||||
| Depreciation expense | 3,532 | 3,950 | |||||
| Amortization expense - intangible assets | 1,301 | 1,413 | |||||
| Allowance for credit losses on receivables/bad debt on receivables | 682 | (677 | ) | ||||
| Equity in (income) loss of unconsolidated affiliates | 127 | 523 | |||||
| Agent growth incentive stock-based compensation expense | 17,734 | 18,157 | |||||
| Stock option compensation | 3,454 | 3,975 | |||||
| Agent equity stock-based compensation expense | 47,559 | 56,456 | |||||
| Deferred income taxes, net | (1,783 | ) | 2,337 | ||||
| Changes in operating assets and liabilities: | |||||||
| Accounts receivable | (58,033 | ) | (48,871 | ) | |||
| Prepaids and other assets | (2,138 | ) | 1,841 | ||||
| Customer deposits | 34,344 | 41,946 | |||||
| Accounts payable | 808 | 2,741 | |||||
| Accrued expenses | 58,694 | 35,243 | |||||
| Litigation contingency | (17,000 | ) | 16,000 | ||||
| Other operating activities | (40 | ) | 23 | ||||
| NET CASH PROVIDED BY OPERATING ACTIVITIES | 75,926 | 131,801 | |||||
| INVESTING ACTIVITIES | |||||||
| Purchases of property and equipment | (5,351 | ) | (2,772 | ) | |||
| Purchase of business | (3,150 | ) | |||||
| Investments in unconsolidated affiliates | (11,673 | ) | (3,938 | ) | |||
| Capitalized software development costs in intangible assets | (183 | ) | (509 | ) | |||
| NET CASH USED IN INVESTING ACTIVITIES | (17,207 | ) | (10,369 | ) | |||
| FINANCING ACTIVITIES | |||||||
| Repurchase of common stock | (29,869 | ) | (81,266 | ) | |||
| Proceeds from exercise of options | 376 | 1,052 | |||||
| Transactions with noncontrolling interests | - | (1,169 | ) | ||||
| Dividends declared and paid | (15,273 | ) | (15,075 | ) | |||
| NET CASH USED IN FINANCING ACTIVITIES | (44,766 | ) | (96,458 | ) | |||
| Effect of changes in exchange rates on cash, cash equivalents and restricted cash | 2,393 | (1,346 | ) | ||||
| Net change in cash, cash equivalents and restricted cash | 16,346 | 23,628 | |||||
| Cash, cash equivalents and restricted cash, beginning balance | 168,588 | 169,893 | |||||
| CASH, CASH EQUIVALENTS AND RESTRICTED CASH, ENDING BALANCE | $ | 184,934 | $ | 193,521 | |||
| SUPPLEMENTAL DISCLOSURE OF CASH FLOWS INFORMATION: | |||||||
| Cash paid for income taxes | 2,014 | 1,542 | |||||
| SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES: | |||||||
| Property and equipment purchases in accounts payable | 161 | - | |||||
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/7b021f6e-ff44-4055-8433-2c3b50542a43
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