Exp World Holdin Stock Price, News & Analysis

eXp World Holdings (Nasdaq: EXPI) has appointed Patrick O’Neill as the new Chief Operating Officer of eXp Realty. With over 25 years of experience, O’Neill aims to enhance the agent experience, streamline operations, and support the company’s global growth. CEO Jason Gesing emphasizes the importance of strengthening leadership to advance the company's ambitious goals. eXp Realty is recognized as the fastest-growing real estate company worldwide, boasting over 83,000 agents across multiple countries, promoting its innovative cloud-based brokerage model.

eXp World Holdings, Inc. (Nasdaq: EXPI) reported a significant 42% year-over-year revenue increase to $1.4 billion for Q2 2022, driven by a 42% growth in agents to 82,856. Gross profit rose 34% to $107.3 million, while net income fell to $9.4 million from $37 million a year earlier due to higher tax expenses. The company announced a $0.045 cash dividend for Q3 2022, a 13% increase from the previous quarter, and repurchased $50 million of common stock. eXp also expanded internationally and strengthened its leadership team, aiming for further growth amidst evolving market conditions.

eXp World Holdings (Nasdaq: EXPI) will announce its Q2 2022 financial results on August 3, 2022, prior to the market opening. A virtual investor Q&A session will follow at 8:00 a.m. PT / 11:00 a.m. ET, featuring key executives including Glenn Sanford, CEO, and Jeff Whiteside, CFO. Investors can join the session at expworldholdings.com/events. eXp Realty, part of eXp World Holdings, is rapidly expanding with over 83,000 agents across several countries.

eXp World Holdings, Inc. (Nasdaq: EXPI) has successfully acquired Zoocasa Realty Inc., enhancing its online capabilities for lead generation and real estate listings throughout North America. Zoocasa, a Toronto-based real estate brokerage known for its award-winning platform, attracts nearly 12 million annual visits and employs about 150 agents. This strategic acquisition aims to boost eXp Realty's services for Canadian agents and the wider North American market, potentially driving revenue growth and expanding eXp's consumer offerings.

eXp World Holdings has appointed Monica Weakley to its Board of Directors, effective June 20, 2022. Weakley, a successful eXp Realty agent in Ohio and Kentucky, aims to bring the agents' perspective to the board. Her election reflects the company's commitment to enhancing agent representation. The current board members were also reelected, and Weakley will take the place of outgoing director Fee Gentry. This leadership change is seen as a strategic move to further improve the agent value proposition.

SUCCESS Enterprises announced enhancements to its coaching platform, introducing certification, revenue share options, and equity opportunities for eXp Realty agents. The expanded SUCCESS Coaching program aims to elevate agents' skills and create new revenue streams through coaching services, launching in late 2022. Founder Glenn Sanford emphasized the initiative's goal to transform the coaching industry, paralleling eXp Realty's disruption of the real estate market. These improvements seek to motivate agents and align compensation models for enhanced growth.

eXp World Holdings (Nasdaq: EXPI) has unveiled updates to its metaverse platforms, Virbela and Frame, aimed at addressing workplace challenges. CEO Glenn Sanford noted that companies are focusing on efficiency and cost-cutting amid market shifts. The updates include a newly designed virtual campus in Virbela and enhanced features in Frame, such as support for 150 users and integration with Microsoft Teams. eXp Realty has grown to over 82,000 agents globally, significantly decreasing operating costs since adopting these platforms.

eXp World Holdings (Nasdaq: EXPI) announced the acquisition of Zoocasa Realty Inc., an innovative real estate platform, to enhance its online lead generation and home search capabilities in Canada. This strategic move aims to improve service offerings for agents and brokers through Zoocasa's comprehensive listings platform. The acquisition, pending customary approvals, is expected to close in July 2022. With nearly 12 million visits annually and a team of 150 agents, Zoocasa's integration is anticipated to significantly elevate eXp's market presence and operational efficiency.

eXp World Holdings, Inc. (Nasdaq: EXPI) has appointed Shoeb Ansari as Chief Information Officer and Leo Pareja as President of Affiliated Services. Shoeb brings extensive software development experience, previously serving as CTO at RealPage, while Leo has 20 years of real estate expertise and has co-founded major lending firms. The leadership changes align with eXp's strategic initiatives in technology and affiliated services, aiming to bolster growth and innovation in a cloud-based real estate model.