Agent Growth Continues as eXp World Holdings Achieves Record Revenue of $4.6 Billion for 2022

Ben Laube eXp Global, eXp News, eXp Partners, eXp Press Releases, Real Estate News Leave a Comment

Another year, another record. eXp World Holdings just announced its financial and operational results for the full year and Q4 of 2022 and once again, the company produced record revenue of $4.6 billion, which is up 22% year over year. Additionally, agent growth was 21%, totaling 86,203 agents by year’s end. (Read the press release here.)

Other big highlights include that eXp World Holdings Founder, CEO and Chairman Glenn Sanford took over as CEO of eXp Realty – a role he has held a few times since founding the company in 2009. Sanford’s move is to concentrate on the next phase of eXp’s agent growth. He assumes the CEO role from Jason Gesing, who was promoted to Chief Industry Relations Officer. 

“I am excited to return as CEO of eXp Realty to drive our next phase of growth by doubling down on agent-centric innovation. Our model was designed to withstand varying market conditions, which uniquely positions us to continue investing in the agent experience in a down market. In turn, we maximize long-term growth and profitability.”— Glenn Sanford, Founder, CEO and Chairman of eXp World Holdings and CEO of eXp Realty

Additionally, for the first time in eXp’s history, it is reporting segment-level financial information for North America Realty, with the goal to provide transparency into the financial performance of eXp’s core business (eXp Realty) and focus on the investments being made to reinforce eXp as the most agent-centric brokerage on the planet.

Also, eXp paid a cash dividend for the fourth quarter of 2022 of $0.045 per share of common stock on Nov. 14, 2022. On Feb. 9, 2023, a cash dividend of $0.045 per share of common stock was declared for the first quarter of 2023, which is expected to be paid on March 31, 2023 to stockholders of record on March 13, 2023.

Highlights of Q4 and Full-year 2022 Results

  • Revenue increased 22% to $4.6 billion in 2022 with revenue of $933 million in the fourth quarter of 2022.
  • Gross profit increased 24% to $366.9 million in 2022 with $83.1 million in the fourth quarter of 2022. 
  • Net income of $15.4 million in 2022 and net loss of $(7.2) million in the fourth quarter of 2022. 
  • Agents and brokers on the eXp Realty platform increased 21% to 86,203 as of Dec. 31, 2022.
  • Real estate transactions closed increased 15% to 511,859 in 2022 and decreased 13% year over year to 109,168 in the fourth quarter of 2022.
  • Real estate transaction volume increased 20% to $187.3 billion in 2022 and decreased 16% year over year to $37.6 billion in the fourth quarter of 2021.
  • eXp Realty expanded into six new international locations in 2022, including the Dominican Republic, Greece, New Zealand, Chile, Poland and Dubai. 
  • eXp Realty ended 2022 with a global Net Promoter Score of 73, a measure of agent satisfaction, as part of the Company’s intense focus on improving the agent experience.


Safe Harbor Statement

The statements contained herein may include statements of future expectations and other forward-looking statements that are based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. These statements include, but are not limited to, statements about the continued growth of our agent and broker base; expansion of our residential real estate brokerage business into foreign markets; and revenue growth and financial performance. Such forward-looking statements speak only as of the date hereof, and the company undertakes no obligation to revise or update them. Such statements are not guarantees of future performance. Important factors that may cause actual results to differ materially and adversely from those expressed in forward-looking statements include changes in business or other market conditions; the difficulty of keeping expense growth at modest levels while increasing revenues; and other risks detailed from time to time in the company’s Securities and Exchange Commission filings, including but not limited to the most recently filed Quarterly Report on Form 10-Q and Annual Report on Form 10-K.


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