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eXp World (EXPI)

eXp World Holdings, Inc. is the holding company for eXp Realty, Virbela and SUCCESS Enterprises. eXp World Holdings and its global brokerage, eXp Realty, is one of the fastest-growing real estate tech companies in the world with more than 50,000 agents in the United States, Canada, the United Kingdom, Australia, South Africa, India, Mexico, Portugal, France, Puerto Rico, Brazil, Italy and Hong Kong and continues to scale internationally. As a publicly traded company, eXp provides real estate professionals the unique opportunity to earn equity awards for achieving production goals and for contributions to overall company growth. eXp World Holdings and its businesses offer a full suite of brokerage and real estate tech solutions, including its innovative residential and commercial brokerage model, professional services, collaborative tools and personal development resources. The cloud-based brokerage is powered by an immersive 3D platform that is deeply social and collaborative, enabling agents to be more connected and productive.

Company profile

Ticker
EXPI
Exchange
CEO
Glenn Darrel Sanford
Employees
Incorporated
Location
Fiscal year end
Former names
Desert Canadians Ltd., EXP Realty International Corp
SEC CIK
Subsidiaries
eXp Australia • eXp Brasil Consultoria Imboliára LTDA • eXp Colombia S.A.S. • eXp Commercial of California, Inc. • eXp Commercial of Connecticut, LLC • eXp Commercial, LLC • eXp Hong Kong Limited • eXp International Holdings, Inc. • eXp Italia S.r.l. • eXp Puerto Rico Inc. ...

EXPI stock data

Analyst ratings and price targets

Last 3 months

Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

3 Aug 22
8 Aug 22
31 Dec 22
Quarter (USD) Jun 22 Mar 22 Dec 21 Sep 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 240.78M 240.78M 240.78M 240.78M 240.78M 240.78M
Cash burn (monthly) 2.08M (no burn) (no burn) (no burn) (no burn) (no burn)
Cash used (since last report) 2.74M n/a n/a n/a n/a n/a
Cash remaining 238.04M n/a n/a n/a n/a n/a
Runway (months of cash) 114.3 n/a n/a n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
5 Aug 22 Sanford Glenn Darrel Common Stock Sell Dispose S No Yes 15.2324 9,000 137.09K 42,034,338
5 Aug 22 Sanford Glenn Darrel Common Stock Option exercise Acquire M No No 0.07 9,000 630 42,043,338
5 Aug 22 Sanford Glenn Darrel Stock Options Common Stock Option exercise Dispose M No No 0.07 9,000 630 219,540
4 Aug 22 Sanford Glenn Darrel Common Stock Sell Dispose S No Yes 15.4064 9,000 138.66K 42,034,338
4 Aug 22 Sanford Glenn Darrel Common Stock Option exercise Acquire M No No 0.07 9,000 630 42,043,338
4 Aug 22 Sanford Glenn Darrel Stock Options Common Stock Option exercise Dispose M No No 0.07 9,000 630 228,540
4 Aug 22 Jose Enrique Valdes Stock Options Common Stock Grant Acquire A No No 15.15 25,000 378.75K 25,000
3 Aug 22 Sanford Glenn Darrel Common Stock Sell Dispose S No Yes 15.5824 9,000 140.24K 42,034,338
3 Aug 22 Sanford Glenn Darrel Common Stock Option exercise Acquire M No No 0.07 9,000 630 42,043,338
3 Aug 22 Sanford Glenn Darrel Stock Options Common Stock Option exercise Dispose M No No 0.07 9,000 630 237,540
26.9% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 212 204 +3.9%
Opened positions 49 42 +16.7%
Closed positions 41 41
Increased positions 79 67 +17.9%
Reduced positions 47 66 -28.8%
13F shares Current Prev Q Change
Total value 1.01B 1.41B -28.3%
Total shares 40.9M 34.86M +17.3%
Total puts 411.6K 650.1K -36.7%
Total calls 373.4K 705.3K -47.1%
Total put/call ratio 1.1 0.9 +19.6%
Largest owners Shares Value Change
Vanguard 9.77M $206.93M +1.5%
BLK Blackrock 4.09M $86.5M -1.1%
TROW T. Rowe Price 2.86M $60.52M +51.3%
Cat Rock Capital Management 2.57M $54.45M +63.5%
Integrated Advisors Network 2.22M $46.95M -4.0%
Copeland Capital Management 1.89M $40.09M NEW
Geode Capital Management 1.41M $29.81M -6.8%
STT State Street 1.31M $27.73M +3.2%
Renaissance Technologies 1.11M $23.42M +18.3%
Millennium Management 772.71K $16.36M -1.6%
Largest transactions Shares Bought/sold Change
Copeland Capital Management 1.89M +1.89M NEW
Cat Rock Capital Management 2.57M +999.2K +63.5%
TROW T. Rowe Price 2.86M +969.32K +51.3%
Epoch Investment Partners 569.27K +569.27K NEW
TD Asset Management 665.83K +507.83K +321.4%
Scout Investments 657.23K -489.46K -42.7%
Norges Bank 0 -427.35K EXIT
Citadel Advisors 408.01K +375.21K +1144.0%
Cubist Systematic Strategies 281.6K +252.97K +883.6%
MS Morgan Stanley 249.93K -203.05K -44.8%

Financial report summary

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Risks
  • Our profitability is tied to the strength of the residential real estate market, which is subject to a number of general business and macroeconomic conditions beyond our control.
  • Our operating results are subject to seasonality and vary significantly among quarters during each calendar year, making meaningful comparisons of successive quarters difficult.
  • We may be unable to effectively manage rapid growth in our business.
  • If we fail to grow in the various local markets that we serve or are unsuccessful in identifying and pursuing new business opportunities our long-term prospects and profitability will be harmed.
  • Our value proposition for agents and brokers includes allowing them to participate in the revenues of our Company and is not typical in the real estate industry. If agents and brokers do not understand our value proposition, we may not be able to attract, retain, and incentivize agents.
  • We may be unable to attract and retain additional qualified personnel.
  • We have experienced net losses in recent years, and, because we have a limited operating history, our ability to fully and successfully develop our business is unknown.
  • The utilization of a 3D cloud-based immersive office as a suitable substitute for a physical brick and mortar location is a new and unproven strategy and we cannot guarantee that we will be able to operate and grow within its confines.
  • Loss of our current executive officers or other key management could significantly harm our business.
  • Failure to protect intellectual property rights could adversely affect our business.
  • We have identified material weaknesses in our internal control over financial reporting in the past and have remediated the previously identified material weaknesses in 2020. If our remedial measures in future years are unsuccessful or inadequate, our financial statements could include material misstatements.
  • If we do not remain an innovative leader in the real estate industry, we may not be able to grow our business and leverage our costs to achieve profitability.
  • Our business could be adversely affected if we are unable to expand, maintain and improve the systems and technologies which we rely on to operate.
  • Our business, financial condition and reputation may be substantially harmed by security breaches, interruptions, delays and failures in our systems and operations.
  • Cybersecurity incidents could disrupt our business operations, result in the loss of critical and confidential information, adversely impact our reputation and harm our business.
  • We face significant risk to our brand and revenue if we fail to maintain compliance with the law and regulations of federal, state, county and foreign governmental authorities, or private associations and governing boards.
  • We may suffer significant financial harm and loss of reputation if we do not comply, cannot comply, or are alleged to have not complied with applicable laws, rules and regulations concerning our classification and compensation practices for the agents in our owned-and-operated brokerage.
  • We are subject to certain risks related to legal proceedings filed by or against us, and adverse results may harm our business and financial condition.
  • We are a “controlled company” within the meaning of NASDAQ rules, and, as a result, we qualify for, and intend to rely on, exemptions from certain corporate governance requirements.
  • Because we can issue additional shares of common stock, our stockholders may experience dilution in the future.
  • The stock price of our common stock has been and likely will continue to be volatile and may decline in value regardless of our performance.
  • Because we may not pay any cash dividends on our shares of common stock in the near future, our stockholders may not be able to receive a return on their shares unless they sell them.
Management Discussion
  • All dollar amounts are in USD thousands except share amounts and per share data and as otherwise noted.
  • eXp World Holdings empowers the new economy through its people, technology platforms and personal and professional development solutions. Through our brokerage, eXp Realty, we operate one of the world’s fastest-growing real estate brokerages. We are focused on being the most agent-centric company on the planet and offer our agents a generous commission model, and a thriving community built on our proprietary and unique cloud-based brokerage and collaboration suite.
  • While we do not consider acquisitions a critical element of our ongoing business, we seek opportunities to expand and enhance our portfolio of solutions.

Content analysis

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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. freshman Avg
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Removed: adjust, averaged, continuously, fewer, forecasted, historic, lever, lifting, light, listing, pace, partially, represented, steady, supporting, sustainable, uncertainty