eXp World Q1 2023: Revenue down 16% to $851M but net income positive at $1.5M; agent count up 12%

eXp World Holdings, Inc.

2023-Q1 EPS reported $0.01 revenue$850,616,000

Revenue $850.6M (-16% YoY); gross profit $73.1M (-12%); net income $1.5M vs $5.1M prior year.
Adjusted EBITDA $13.3M; operating cash flow (excl. customer deposits) $39M.
Agent count 87,327 (+12% YoY); closed transactions 102,305 (-10% YoY); transaction volume $33.2B (-20%).
International Realty record revenue, up 52% YoY.
Board declared Q2 cash dividend of $0.045/share, payable May 31 to holders of record May 12.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

eXp World Holdings, Inc. reported three months ended March 31, 2023 results: revenue $850.6 million, net income $1.5 million, EPS $0.01.

Period: three months ended March 31, 2023
Revenue: $850.6 million
Net income: $1.5 million
EPS: $0.01
Result: reported results

Exact text from the filing

First Quarter 2023 Consolidated Financial Highlights as Compared to the Same Year-Ago Quarter: ● Revenue decreased 16% to $850.6 million. ● Gross profit decreased 12% to $73.1 million. ● Net income of $1.5 million. Earnings per diluted share of $0.01 compared to earnings per diluted share of $0.06 in the year ago quarter.

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Source: SEC EDGAR

accession 0001558370-23-007649

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