eXp World Holdings, Inc. (Nasdaq: AGNT), the holding company for eXp Realty, NextHome, Inc., FrameVR.io and SUCCESS Enterprises, reported its financial results for the first quarter ended March 31, 2026. The company achieved revenue of $1.0 billion, exceeding expectations, driven by increased agent productivity.
CEO Comments on Q1 Performance
Leo Pareja, CEO of eXp Realty, stated: 'Our first quarter results exceeded our revenue expectations as agent productivity continues to increase. We have always been a company built by agents, built for agents, and this quarter we have taken a meaningful step in broadening that mission. The addition of NextHome creates maximum optionality across our platform. This multi-model approach serves the full spectrum of real estate entrepreneurs on a single, unified global platform that empowers every agent to grow their business on their own terms.'
Strategic Acquisition of NextHome
Glenn Sanford, Founder, Chairman and CEO of eXp World Holdings, commented: 'With the acquisition of NextHome, eXp World Holdings has evolved into a borderless, multi-model leader. This strategic move, punctuated by our new ticker AGNT, reflects our position as a forward-thinking operating platform built to power the modern agent. By integrating a best-in-class franchise vehicle into our technology-driven ecosystem, we are providing the infrastructure for agent entrepreneurs to scale without the traditional friction of brick-and-mortar overhead. This evolution makes our entire network more valuable for everyone, creating a more durable organization designed to thrive throughout any market cycle.'
Financial Highlights
Jesse Hill, Chief Financial Officer, noted: 'I am pleased with our first quarter results, which are a direct reflection of the company scale and our focus on operational efficiency across eXp World Holdings. We generated revenue of $1.0 billion and Adjusted EBITDA of $4.1 million, an 88% improvement that further strengthened our financial position. More recently, we executed the strategic NextHome acquisition using cash on hand and zero debt. Moving forward, we remain committed to maintaining our financial discipline, with an acute focus on continued operational efficiency and cost management.'
Key Financial Metrics
- Revenue increased 5% to $1.0 billion from $954.9 million in the same period last year.
- Net loss was $5.1 million, or $0.03 per diluted share, compared to a net loss of $11.0 million, or $0.07 per diluted share, in the prior year.
- Operating expenses decreased 3% to $84.1 million from $86.5 million.
- Adjusted EBITDA, a non-GAAP measure, reached $4.1 million, an 88% increase from $2.2 million.
- Cash and cash equivalents totaled $122.1 million as of March 31, 2026, up from $115.7 million a year earlier.
- Net cash provided by operating activities was $20.6 million, compared to $39.8 million.
- Adjusted operating cash flow, a non-GAAP measure, was $9.6 million, versus $28.2 million.
- The company distributed $8.0 million in cash dividends to shareholders.
Dividend Information
eXp paid a cash dividend of $0.05 per share for the first quarter of 2026 on March 27, 2026. On April 23, 2026, the Board of Directors declared a cash dividend of $0.05 per share for the second quarter, payable on June 5, 2026, to stockholders of record on May 22, 2026.
