EXP WORLD Reports Second Quarter Earnings for Fiscal Year 2023

🌥️Earnings Overview

On August 3 2023, EXP WORLD ($NASDAQ:EXPI) reported its earnings results for the second quarter of the fiscal year 2023 ending June 30 2023. Revenues for the quarter totaled USD 1232.9 million, representing a decrease of 12.9% from the same period in the prior year. Net income rose 0.6%, amounting to USD 9.4 million.

Price History

The stock opened at $23.6 and closed at $25.1, up by 3.4% from the last closing price of 24.2. This marks an impressive performance by the company in its second quarter of the fiscal year, demonstrating its ability to generate consistent growth. The impressive performance can be attributed to a combination of factors, including improved sales and marketing strategies, increased efficiency in operations, and strategic partnerships with other businesses. EXP World‘s management team is also to be commended for their efforts in monitoring and managing the company’s performance. All of these factors combined have contributed to the company’s success. The results of EXP World’s second quarter earnings report come as no surprise, as the company has been consistently performing well over the last few years.

This latest report shows that the company is on track to reach its goals and objectives for this fiscal year. Investors and shareholders alike will no doubt be pleased with the news, especially given the fact that the stock has risen by 3.4%. Overall, the second quarter earnings report for EXP World is very encouraging, and gives investors and shareholders continued confidence in the company’s ability to generate growth and generate returns. With its strong performance so far this fiscal year, EXP World looks primed to continue its growth trajectory into the future. Live Quote…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Exp World. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for Exp World. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Exp World. More…

Key Ratios Snapshot

Some of the financial key ratios for Exp World are shown below. More…

Analysis

We at GoodWhale conducted an analysis of EXP WORLD‘s wellbeing. According to the Star Chart, EXP WORLD has strong scores in the asset and growth categories, and a median score in the dividend and profitability sections. Upon further analysis, we gave EXP WORLD a health score of 10/10, taking into account its cashflows and debt, and its capability to pay off debt and fund future operations. We classified EXP WORLD as a ‘rhino’, meaning it has achieved moderate revenue or earnings growth. Given these factors, investors who prioritize steady growth with a good probability of return may be interested in such a company. Those looking for quick returns or high-risk investments are likely to find that EXP WORLD isn’t the right fit. More…

Peers

The company operates through its wholly owned subsidiary, eXp Realty, LLC. eXp Realty is a national real estate brokerage company with over 30,000 real estate agents in the United States, Canada, and the United Kingdom. The company offers a suite of cloud-based real estate services, including brokerage, transaction management, lead generation, and marketing. eXp World Holdings Inc. competes with Redfin Corp, Opendoor Technologies Inc, and Realogy Holdings Corp in the online real estate brokerage market. These companies offer similar services as eXp World Holdings Inc, but differ in their business models and geographic focus.

– Redfin Corp ($NASDAQ:RDFN)

Redfin is a technology-powered real estate brokerage, founded in 2004 and headquartered in Seattle, WA. They offer a full-service platform for buying and selling homes, as well as a suite of tools and services for homebuyers and sellers. Redfin has a market cap of $516.24M as of 2022 and a return on equity of -50.48%. The company has been growing rapidly, with revenue increasing from $267M in 2016 to $1.1B in 2020. However, Redfin has not been profitable on an GAAP basis, with net losses of $141M in 2020. The company is investing heavily in expansion and technology, which has led to negative cash flow from operations in recent years.

– Opendoor Technologies Inc ($NASDAQ:OPEN)

Opendoor Technologies Inc is a real estate company that allows users to buy and sell homes through its online platform. The company has a market cap of 1.53B as of 2022 and a return on equity of 0.03%. Opendoor was founded in 2014 and is headquartered in San Francisco, CA.

Summary

Investors in EXP WORLD were pleased with the company’s second quarter fiscal year 2023 earnings results, released on August 3, 2023. Total revenue for the quarter declined 12.9% year-over-year to USD 1232.9 million, however net income increased 0.6% to USD 9.4 million. On the same day, the stock price moved up in response to the earnings, indicating a positive reaction from investors. In conclusion, it appears that EXP WORLD is performing well, despite the challenges of the current economic climate.