Exp World Holdin Stock Price, News & Analysis

eXp Realty has announced the onboarding of Toronto-GTA's Christopher Invidiata and his 21-agent team, expanding its Canadian presence. This partnership is a strategic move to leverage eXp's innovative financial model, which includes revenue sharing and stock options for agents. Invidiata, a luxury real estate brand with over $4 billion in residential sales, aims to enhance marketing resources and provide ownership opportunities for its agents. eXp Realty boasts a global network of 35,000 agents and continues to grow internationally.

eXp World Holdings (Nasdaq: EXPI) announced the appointment of James Huang as the president of its commercial division. Huang, with over 20 years in commercial real estate, is tasked with launching and expanding eXp's commercial business across the United States and globally. His leadership experience includes overseeing 65 affiliates at Sperry Commercial Global Affiliates. Huang aims to leverage eXp's innovative model to enhance its commercial real estate division and related services.

VirBELA has promoted Craig Kaplan to Chief Customer Officer, expanding his role to lead sales, marketing, and customer operations. Since joining as a strategic advisor, Kaplan has facilitated over 20 enterprise deals, contributing to a remarkable 260% revenue growth in Q2 2020. His focus will be on enhancing the customer experience as organizations shift to remote work. VirBELA's immersive technology platform supports distance learning and virtual events, aiming to establish a new industry segment for flexible business engagement.

eXp, a rapidly growing global residential real estate company and a subsidiary of eXp World Holdings (Nasdaq: EXPI), announced its intention to expand operations into France, India, Mexico, Portugal, and South Africa by the end of 2020. With over 32,000 agents across key markets like the U.S., Canada, and the U.K., the company aims to establish a strong international presence. The choice of these countries reflects their vibrant real estate markets, providing a strategic foothold for future growth. eXp continues to innovate by offering technology tools and opportunities for agents to earn stock in the company.

VirBELA, a leading immersive technology platform and subsidiary of eXp World Holdings (NASDAQ: EXPI), reported a remarkable 260% revenue increase in Q2 2020 compared to Q1 2020. The company also noted significant growth in user engagement, with five times the increase in monthly active users. To meet rising demand, VirBELA expanded its workforce from 20 to 105 employees in the first half of 2020 and launched new features, including virtual event spaces and VR support. This growth aligns with the ongoing shift towards remote work and virtual events due to the COVID-19 pandemic.

eXp World Holdings (EXPI) reported a record net income of $8.3 million for Q2 2020, marking its most profitable quarter to date.

Revenue surged 33% year-over-year to $354 million, driven by robust agent growth, with over 31,000 agents joining the platform.

Gross profit increased 55% to $34.4 million, while cash flow from operations rose 57% to $28.5 million.

The company plans further expansion into international markets and commercial real estate for sustained growth.

eXp Realty announced 73 agents honored as ICON agents for July 2020, recognizing their exceptional production and contributions to company culture. The ICON Agent Award provides qualifying agents with up to $16,000 in eXp World Holdings stock contingent upon achieving specific goals. eXp Realty operates globally with over 30,000 agents, offering unique opportunities for agents to earn stock through performance and company growth.

BELLINGHAM, Wash., July 28, 2020 (GLOBE NEWSWIRE) -- eXp World Holdings, Inc. (Nasdaq: EXPI) announced preliminary highlights for Q2 2020 and will report full results post-market on August 5, 2020. Additionally, a virtual fireside chat featuring CEO Glenn Sanford and CFO Jeff Whiteside will occur on August 6 at 8 a.m. PT. eXp Realty, a subsidiary of EXPI, has over 31,000 agents across four countries, providing stock incentives for performance. The company also operates VirBELA, an immersive tech platform for collaboration and events.

eXp Realty has recognized 50 agents as ICON agents for June 2020 for exceptional production and positive cultural impact. This award aligns with eXp Realty's core values and offers each ICON agent up to $16,000 in publicly traded eXp World Holdings stock upon achieving specified goals. eXp Realty, a subsidiary of eXp World Holdings (Nasdaq: EXPI), serves over 30,000 agents globally, providing opportunities to earn stock based on performance. The company is also known for its immersive virtual platform, VirBELA.