EXp World : Q1 Financial Results (Q1 FY26 eXp Earnings Fireside Chat c)

Published: 2026-05-11 10:21:18 ET EXPI

Published on 05/11/2026 at 10:21 am EDT

‌Q1 2026‌

Virtual Fireside Chat

May 11, 2026

slido.com

event code:#AGNT

Jesse

Hill

Chief Financial Officer

eXp World Holdings

Leo

Pareja

CEO

eXp Realty

Glenn

Sanford

Founder, Chairman & CEO

eXp World Holdings

‌Q1 2026‌‌‌

Earnings Speakers

‌There will be a number of forward-looking statements1 made today that should be considered in conjunction‌‌‌

Forward Looking Statements

1Within the meaning

of the Private Securities Litigation Reform Act of 1995

with the cautionary statements contained in the Company's SEC filings. Forward looking statements are often identified by the use of words such as "believe," "expect," "anticipate," "estimate," "project," "plan," "should," "intend," "may," "will," "could," "can," "would," "potential," "seek," "goal" and similar expressions. Forward-looking statements include, without limitation: the Company's financial outlook for the second fiscal quarter of 2026 and full year 2026, including revenue, operating expenses and Adjusted EBITDA; expectations regarding operating leverage, profitability, and cash generation; anticipated benefits from prior operational discipline initiatives and key leadership appointments; capital allocation priorities; potential growth and enhancement opportunities; international expansion; development, deployment and integration of artificial intelligence and other technology initiatives; enhancement of the SUCCESS® brand and related agent resources; agent productivity, attraction and retention; development and integration of technology and artificial intelligence solutions; statements related to consumer attitudes; the Company's outlook and the real estate industry outlook; non-GAAP financial measures; the ability of the Company to succeed despite market conditions; opportunities to enhance long-term shareholder value; dividend payments; and capital allocation.

Forward-looking statements are subject to various risks and uncertainties that could cause our actual results to differ materially from these statements. These risks and uncertainties include, without limitation: adverse changes in residential real estate market conditions, interest rates, consumer confidence, or broader macroeconomic factors; fluctuations in agent attraction, retention, and productivity; the Company's ability to achieve anticipated operating efficiencies and cost management objectives; variability in stock-based compensation expense and other non-cash charges; risks related to expansion into new markets or international jurisdictions; the successful development, integration and adoption of AI-enabled tools and other technology initiatives; competitive pressures, including changes in commission structures or brokerage models; regulatory, tax, or legal developments, including litigation outcomes; cybersecurity incidents or technology disruptions; capital allocation decisions, including dividends or share repurchases; the timing, structure, or completion of potential growth and enhancement opportunities, if any, and the Company's ability to realize anticipated benefits therefrom; and those risks and uncertainties described in the sections entitled "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in the most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q filed with the Securities and Exchange Commission ("SEC") and similar disclosures in subsequent periodic and current reports filed with the SEC, which are available on the financials page of the Company's website at https://www.expworldholdings.com and on the SEC website at https://www.sec.gov.

Except as required by law, the Company does not intend, and assumes no obligation, to update or revise any forward-looking statements or information to reflect future events or circumstances.

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event code: #AGNT

# AGNT

‌Q1 2026‌

Business Highlights

Leo Pareja

Chief Executive Officer

eXp Realty

‌Q1 2026:‌‌

Focused, Flexible, Forward-thinking

International Platform Expansion Agent Performance & Growth

International Revenue +27% YoY to $40.2M

Increased productivity and real estate sales transactions

Building Community

eXpcon Cape Town February 17-19, 2026

eXpcon Paris

July 15-17, 2026

Industry Transparency & Leadership

Announced "Coming Soon" listings to premier on national portals like Realtor.com, Homes.com, and ComeHome.com (Google Search)

Specialty Division

Launched New Homes

82,332 Agents

Increased productivity and real estate sales transactions

Revenue Growth

+5% YoY

Increased ICON Agents

+11% YoY and 10% QoQ

Built for agents.

May 8, 2026

NASDAQ Ticker: eXp World Holdings (EXPI) is now AGNT

AGNT is the global operating system for the modern real estate entrepreneur - a multi-model platform where independent agents, franchise owners, and team leaders all find a home built for the way they want to grow. Two models. Maximum optionality.

‌Proven Model‌‌‌‌‌‌‌‌‌

Scalable franchise system with best-in-class satisfaction scores. Recognized by Entrepreneur and Inc. 5000 for strong unit economics and franchisee retention.

Culture-driven Identity

"Humans Over Houses®" positioning and culture-driven identity resonates deeply with consumers and agents - driving loyalty, differentiation, and long-term retention in competitive markets.

550

Franchises across the U.S.

~4,900

Active agents nationwide

Owner satisfaction, 5 years running(1)

(1) Franchise Business Review

‌Multi-model‌‌‌‌‌‌‌

Platform

eXp remains the undisputed cloud-based leader. NextHome remains a premier franchise experience.

Together, they serve a wider

segment of the industry without cannibalizing either brand.

87K

Post Acquistion Combined Agent Count

Growth Engine

Complementary platform that unlocks multi-model reach across distinct market segments.

Global

Referral Network

Cross-brand referral infrastructure connecting eXp agents with NextHome franchisees worldwide.

Leadership

Seasoned operators at both brands driving execution with aligned incentives.

Shared

Professional Services

Consolidated back-office, legal, and technology resources driving efficiency across both brands.

High-Quality

Productive Agents

eXp's Model Drives Retention Among Highly Productive Agents

Attrition by U.S. Agent Annual Productivity

0 - 2 sales

3 - 7 sales

8 - 12 sales

13 - 20 sales

21+ sales

76%

14%

Majority of departing agents in the

U.S. continue to be in the low-producing cohort

66% of non-productive agents in the U.S. that left eXp also left the industry in Q1

Team Strategy is Working

41% of new agents to eXp were on teams in Q1

Agents on teams are 78% more productive than individual agents

Source: Company data, Q1 '26. Agent attrition statistics based on prior 12 months of transactions data.

‌2026‌‌‌

Outlook

Translating 2025 investments into margin improvement.

Decreased Q1 quarterly operating costs >$2M YoY

Deploying capital with discipline.

Added a franchise business in Q2 with cash on

hand and no debt

Assess opportunities that accelerate growth and expand our capabilities.

Evolved into a multi-model, multi-brand platform while increasing agent count >4,900 on May 6

‌Q1 2026‌

Business Highlights

Jesse Hill

Chief Financial Officer,

eXp World Holdings

‌Operating‌‌‌

Performance

Improved productivity supported transaction growth with a stable agent count.

$40.7 B

Sales Volume

+5.5% YoY

Efficiency gains seen in stronger transactions to staff ratio.

91.6 K

Sales Transactions

+2.2% YoY

Q1 2026

82,332

Agents

+0.5% YoY

5.4

Productivity per Person

+1.8% YoY

‌Consolidated Financial Performance‌‌‌‌‌‌‌

Revenue and transaction growth demonstrated platform strength as we continued to invest in agent experience and operational improvements.

Q1 2026

$1.0 B

Revenue

+5.3% YoY

$75.3 M

Gross Profit

-1.0% YoY

$(8.8) M

Oper. Income (Loss)

+15.3% YoY

$4.1 M

Adjusted EBITDA(1)

+87.9% YoY

$122 M Cash +6% YoY

(1) A reconciliation of adjusted EBITDA (a non-GAAP financial measure) to net income (loss) and a discussion of why management believes adjusted EBITDA is useful is included in the Appendix.

Segment Performance

NA Realty

INTL

Other

Corp/Elim

Cons.

$965.1 M

+5%

$40.2 M

+27%

$0.9 M

+4%

$(0.6) M

+8%

$1.0 B

+5%

$(1.6) M

+58%

$(3.0) M

-57%

$(0.2) M

+88%

$(4.0) M

-33%

$(8.8) M

+15%

$10.0 M

+29%

$(2.4) M

-50%

$(0.1) M

+91%

$(3.4) M

-34%

$4.1 M

+88%

Q1 2026

Revenue

Oper. Income

(Loss)

Adj. EBITDA

(1) A reconciliation of adjusted EBITDA (a non-GAAP financial measure) to net income (loss) and a discussion of why management believes adjusted EBITDA is useful is included in the Appendix.

‌2026‌‌‌‌‌‌‌‌‌‌‌‌‌

Outlook

Innovation.

Q2 2026

Revenue $1.36 - $1.45 billion

Expenses $93 - $97 million

Efficiency. Growth.

Adjusted EBITDA(1)

FY 2026

$16 - $21 million

Agent Success.

(1) Adjusted EBITDA is a non-GAAP financial measure and has not been reconciled to the most comparable GAAP outlook because it is not possible to do so without unreasonable efforts due to the uncertainty and potential variability of reconciling items, which are dependent on future events and often outside of management's control and which could be significant. Because such items cannot be reasonably predicted with the level of precision required, we are unable to provide outlook for

Revenue $4.85 - $5.15 billion

Expenses $325 - $345 million

the comparable GAAP measures. Forward-looking estimates of adjusted EBITDA are made in a manner consistent with the relevant definitions and assumptions noted herein and in our filings with the Securities and Exchange Commission.

Adjusted EBITDA(1)

$50 - $75 million

‌Q1 2026‌

Business Highlights

Glenn Sanford

Founder, Chairman & CEO

eXp World Holdings

‌Matthew Ferry

Master Coach, Speaker & Bestselling Author Lead Instructor, SUCCESS Coaching™

‌The eXp Platform‌‌

A Differentiated Platform Creating Value & Driving Success Worldwide

The Most Agent-Centric Real Estate Brokerage on the PlanetTM

slido.com

Jesse

Hill

Chief Financial Officer

eXp World Holdings

Leo

Pareja

CEO

eXp Realty

Glenn

Sanford

Founder, Chairman & CEO

eXp World Holdings

event code:#AGNT

‌expworldholdings.com‌

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Up-to-Date

Visit our website for the latest updates on news, results & events. Find the recording of this call & our latest investor presentation.

‌expworldholdings.com

‌Segment Financial Results

‌Key Business Metrics

WORLD

e1pi

HOLDINGS, INC.

KEY BUSINESS METRICS

The following table outlines ihs key business metrics that we periodically review to traCk tha Company's performance:

Threo Nonths Ended March 31, 2026 20Z5

Agenl NPS

Agenl count

R+al estalo sales irsnsactDns

8Z.332

91.598

81.6Ot

B9.643

Real £istata sa1es volums

$ 40.747.782

$ 38,641.084

Other real ostate transact a s

1g.820

1g.g1g

Raol estaa per iran»action cost

4 699

6 734

Performance:

Revenues

Gross profit

Operating incomo (loss)

Concot dalad adjusted EBITD/I!)

$ 1.005.$41

$ 75,347

(S 8.788)

5 4,003

S 954.906

S 76.135

(S 10.376)

S 2,157

Conso1idalod adjusted EBITDA is a non-U.S. GAAP hnancial rncasuto. Fat a dofin›hon, ‹ocoriciliolion a net incomo {loss). and discussion of why mo agement boliovcs this meosuia is usoful, sos -Mon•U.S. GAAP F‹ricoc‹d FZcasutos-.

‌Use of Non-GAAP‌

Financial Measures

To provide investors with additional information regarding our financial results, this chat deck includes references to adjusted EBITDA which is a non-U.S. GAAP financial measures that may be different from similarly titled measures used by other companies. This measure is presented to enhance investors' overall understanding of the Company's financial performance and should not be considered a substitute for, or superior to, the financial information prepared and presented in accordance with

U.S. GAAP.

The Company's non-GAAP financial measure provides useful information about financial performance, enhances the overall understanding of past performance and future prospects, and allows for greater transparency with respect to key metrics used by management for financial and operational decision-making.

This measure may also provide an additional tool for investors to use in comparing core financial performance over multiple periods with other companies in the industry.

Adjusted EBITDA helps identify underlying trends in the business that otherwise could be masked by the effect of the expenses that are excluded in adjusted EBITDA. In particular, the Company believes the exclusion of stock and stock option expenses provides a useful supplemental measure in evaluating the performance of operations and provides better transparency into results of operations. The Company defines adjusted EBITDA to mean net income (loss) from continuing operations, excluding other income (expense), income tax benefit (expense), depreciation, amortization, impairment charges, litigation contingency expenses, stock-based compensation expense, and stock option expense.

‌Reconciliation of GAAP to

Non-GAAP Financial Measures

Disclaimer

eXp World Holdings Inc. published this content on May 11, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on May 11, 2026 at 14:20 UTC.