eXp World Holdings, the mother or father firm of eXp Realty, reported $1.2 billion in income for the third quarter of 2022, a 12% enhance from the final yr’s quarter. Gross revenue additionally elevated by 17% to $93.1 million, with web earnings of $4.4 million, in comparison with a web earnings of $23.8 million within the third quarter of 2021.
Brokers and brokers on the eXp Realty platform grew by 30% whereas actual property transactions closed and actual property quantity elevated by 6% and eight% respectively.
“eXp delivered a file third quarter with 12% income development and continued to ship constructive money stream and earnings, reflecting the agility of our enterprise mannequin,” stated Jeff Whiteside, CFO and Chief Collaboration Officer of eXp World Holdings. “We proceed to achieve market share and drive development whereas specializing in growing working efficiencies for our enterprise and our brokers. Our industry-leading effectivity allows us to be probably the most agent-centric brokerage on the planet and positions us to extend our market management in a altering panorama. As we head right into a seasonally slower quarter, we stay assured in our skill to ship market share development over the long run.”
Adjusted EBITDA was $12.3 million and the corporate’s money and money equivalents totaled $134.5 million, up from $98.1 million on the finish of September 2021.
