eXp World Holdings Announces Record Preliminary Fourth Quarter and Full-Year 2020 Financial and Operational Results

Preliminary 2020 Revenue Increases to Record $1.8 Billion, Most Profitable Year in History With Expected Net Income of Over $31 Million

Virtual Fireside Chat To Be Held on March 11, 2021 at 2 p.m. PT / 5 p.m. ET

BELLINGHAM, Wash., March 02, 2021 (GLOBE NEWSWIRE) -- eXp World Holdings, Inc. (Nasdaq: EXPI), the holding company for eXp Realty, Virbela and SUCCESS Enterprises, today provided preliminary unaudited financial and operational results for the fourth quarter and full-year ended Dec. 31, 2020. The financial information below is preliminary, unaudited and subject to change when financial results are released on March 11, 2021.

Preliminary Fourth Quarter and Full-Year 2020 Highlights:

• Revenue in the fourth quarter of 2020 is expected to increase 122% to approximately $609 million, compared to revenue of $274 million in the same year-ago quarter. Revenue for all of 2020 is expected to increase 84% to approximately $1.8 billion, compared to revenue of approximately $1.0 billion in 2019.
• Net income in the fourth quarter of 2020 is expected to increase 885% to approximately $7.7 million, compared to net income of $0.8 million in the same year-ago quarter. Net income in 2020 is expected to increase significantly to approximately $31.0 million, compared to a net loss of $9.6 million in 2019.
• The number of agents and brokers on the eXp Realty platform increased 63% in 2020 to 41,313, compared to 25,423 agents and brokers on the eXp Realty platform at the end of 2019.
• Residential transaction sides closed in the fourth quarter of 2020 increased 113% to 82,055, compared to 38,611 in the same year-ago quarter. Residential transaction sides closed in 2020 increased 77% to 238,981, compared to 135,322 in 2019.
• Residential transaction volume closed in the fourth quarter of 2020 increased 123% to $24.6 billion, compared to $11.0 billion in the same year-ago quarter. Residential transaction volume closed in 2020 increased 89% to $72.2 billion, compared to $38.2 billion in 2019.
  

“Our record revenue and profit in 2020, which accelerated in the fourth quarter of 2020, was driven by our growing base of the best agents in the world that continue to capitalize on the strength of the residential real estate market,” said Glenn Sanford, Founder, Chairman and CEO of eXp World Holdings. “With global operations, our unique, cloud-based platform has provided agents a significant competitive advantage in the real estate industry. With the acquisition of SUCCESS Enterprises at the end of the year, we continue to build a competitive value proposition, which is unique in the real estate industry.”