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Brief: eXp World Holdings Q2 Net Income USD -2.3 Million

Overview

eXp World Holdings Q2 revenue rises 1% to $1.3 bln, almost in line with analyst expectations, per LSEG data

Adjusted EBITDA of $11.2 mln missed analyst estimates, per LSEG data

Company reported a net loss of $2.3 mln

Result Drivers

AGENT-FIRST MODEL - eXp attributes resilience to its agent-first model and commitment to innovation

INTERNATIONAL GROWTH - Rapid growth in international business with robust agent productivity and expanding global reach, according to the company

STRATEGIC INVESTMENTS - Increased operating expenses driven by strategic investments to streamline operations and severance costs

Key Details

MetricBeat/MissActualConsensus Estimate
Q2 RevenueMiss$1.30 bln$1.30 bln (2 Analysts)
Q2 Net Income-$2.30 mln
Q2 Adjusted EBITDAMiss$11.20 mln$25.90 mln (2 Analysts)
Q2 Dividend$0.05
Analyst Coverage The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 1 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell" The average consensus recommendation for the real estate services peer group is "buy" Wall Street's median 12-month price target for eXp World Holdings Inc is $12.00, about 9.7% above its July 30 closing price of $10.84 The stock recently traded at 155 times the next 12-month earnings vs. a P/E of 48 three months ago Press Release: ID:nGNX9CJ6QT (This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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