Q3 2018 Revenue Expected to Grow 231% to $157 Million, Residential Transaction Volume Expected to Grow 239% to $6.2 Billion
BELLINGHAM, WASH. – Nov. 6, 2018 – eXp World Holdings, Inc. (NASDAQ: EXPI), the holding company for eXp Realty, the largest residential real estate brokerage by geography in North America, today reported preliminary financial results for the third quarter ending Sept. 30, 2018.
Q3 2018 Preliminary Revenue Results
Estimated revenue for the third quarter of 2018 is expected to be $157 million, an increase of 231% when compared to revenue of $47.4 million in the third quarter of 2017. Sequentially, this represents estimated revenue growth of 20% when compared to revenue of $130.5 million in the second quarter of 2018.
Q3 2018 Preliminary Residential Transaction Volume
Estimated residential transaction volume closed in the third quarter of 2018 is expected to be $6.2 billion, an increase of 239% when compared to residential transaction volume of $1.8 billion in the third quarter of 2017. Sequentially, this represents estimated residential transaction volume growth of 16% when compared to residential transaction volume of $5.3 billion in the second quarter of 2018.
These figures are tentative third-quarter 2018 results based on the most current information available as the company’s independent auditors have not yet completed their review of the interim financial statements as of and for the period ended Sept. 30, 2018. Complete financial results for the third quarter 2018 are expected to be released after the market closes on Monday, Nov. 12, 2018.
“Our estimated preliminary revenue of $157 million in the third quarter of 2018 is a direct result of our entire eXp Realty team iterating around the agent value proposition, which resulted in both tremendous agent growth as well as transaction and sales volume levels during the quarter,” said Glenn Sanford, Founder, CEO and Chairman of eXp World Holdings. “As we continue to think about the various opportunities that this scale opens for us, we will continue to invest in core platform technologies in support of all of our amazing agents and brokers who choose to build their real estate businesses at eXp.”
About eXp World Holdings
eXp World Holdings, Inc., is the holding company for eXp Realty (NASDAQ: EXPI), the largest residential real estate brokerage by geography in North America and the first real estate brokerage to operate as one company-owned brokerage in all 50 U.S. states. As the leading, national, cloud-based real estate brokerage, eXp Realty provides 24/7 access to collaborative tools, training and socialization for real estate brokers and agents through its virtual campus environment. It is one of the fastest growing real estate brokerage firms in North America with more than 14,000 agents in 50 U.S. states, the District of Columbia and three Canadian provinces. As a publicly traded company, eXp World Holdings, Inc. uniquely offers real estate professionals within its ranks opportunities to earn company stock for production and contributions to overall company growth.
For more information, please visit the company’s website at www.eXpWorldHoldings.com.
Connect with eXp Realty and eXp World Holdings:
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- LinkedIn – Canada and United States
Investor Relations Contact:
Managing director, MZ Group – MZ North America