Overview

• US real estate brokerage platform's Q1 revenue rose 5%, beating analyst expectations

• Q1 adjusted EBITDA rose 88% and beat analyst expectations

• Company completed NextHome acquisition using cash on hand and no debt

Outlook

• eXp sees Q2 revenue between $1.36 bln and $1.45 bln

• Company expects Q2 adjusted EBITDA of $16 mln to $21 mln

• eXp forecasts 2026 revenue between $4.85 bln and $5.15 bln

Result Drivers

• AGENT PRODUCTIVITY - Co said increased agent productivity contributed to revenue exceeding expectations, per CEO Leo Pareja

• OPERATIONAL EFFICIENCY - Co attributed improved adjusted EBITDA and financial position to focus on operational efficiency and cost management, per CFO Jesse Hill

• NEXTHOME ACQUISITION - Integration of NextHome franchise model broadened platform and contributed to company evolution, per CEO Glenn Sanford

Company press release: ID:nGNX16qZBF

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q1 Revenue	Beat	$1 bln	$971.32 mln (3 Analysts)
Q1 EPS		-$0.03
Q1 Net Income		-$5.10 mln
Q1 Adjusted EBITDA	Beat	$4.10 mln	$3.06 mln (3 Analysts)
Q1 Dividend		$0.05

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "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 $9.50, about 43.9% above its May 8 closing price of $6.60

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