eXp Announces Revenue Growth In Q3

Earnings statements for the third quarter of the year are rolling out and we’re diving in to examine the market slowdown’s impact on revenue and growth for some of the industries biggest companies.

eXp World Holdings is out with their numbers, boasting a 12 percent annual revenue increase to $1.2 billion during Q3. Net income, however, fell sharply—down 81.5 percent to $4.4 million.

In Q3 of 2021, eXp claimed $23.8 million in income. Focusing back on this most recent quarter, eXp reported gross profit increased 17 percent to $93.1 million. 

Additionally, the company noted a 30 percent increase in agent count in Q3.

“EXp delivered a record third quarter with 12 percent revenue growth and continued to deliver positive cash flow and earnings, reflecting the agility of our business model,” Chief Financial Officer and Chief Collaboration Officer Jeff Whiteside said in a press statement. “We continue to gain market share and drive growth while focusing on increasing operating efficiencies for our business and our agents.”