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Benzinga
Benzinga
Business
Anusuya Lahiri

YOU WONT BELIEVE: Exp world tick higher on q1 beat stock buyback boost - What They Never Told You

eXp eXp Realty Nasdaq
  • eXp World Holdings, Inc (NASDAQ:EXPI) reported first-quarter FY22 revenue growth of 73% year-on-year to $1.01 billion, beating the consensus of $942.6 million.
  • Agents and brokers on the eXp Realty platform increased 55% Y/Y to 78,196 as of March 31.
  • Real estate transactions closed increased 55% Y/Y to 114,305.
  • Real estate transaction volume increased 69% Y/Y to $41.4 billion.
  • EPS of $0.06 beat the consensus of $0.01.
  • Adjusted EBITDA increased 19% Y/Y to $17.7 million.
  • eXp World held $130.1 million in cash and equivalents and generated $111.5 million in operating cash flow.
  • The board approved a stock repurchase hike from $400 million to $500 million and the monthly repurchases from $10 million to $20 million.
  • On April 29, the board declared a cash dividend of $0.04 per share.
  • "eXp's strong momentum continued through the first quarter as even more agents joined what we believe is the most agent-centric brokerage on the planet, fueling the fastest-growing agent base in the history of real estate to help clients and customers buy, sell and/or lease properties around the world," Chair and CEO Glenn Sanford said.
  • Price Action: EXPI shares traded higher by 2.36% at $15.15 on the last check Wednesday.
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