Exp World Holdings, Inc. · NASDAQ:AGNT
Exp World — Q4 2024 Earnings Presentation
44 slides from Exp World's earnings presentation, Feb 20, 2025
Slide 1: Q4 and Full Year 2024 Financial Results
eX) sar HOLDINGS, INC. Q4+ Full Year 2024 Financial Results Iii oe Virtual Fireside Chat mlidotcom February 20, 2025 event code:#exP!
Slide 2: Q4 + Full Year Earnings Speakers
Q4 + Full Year Earnings Speakers GLENN SANFORD \ LEO PAREJA Founder, Chairman & CEO 4 CEO eXp World Holdings eXp Realty )) WENDY FORSYTHE KENT CHENG Chief Marketing Officer eXp Realty , SPRING BENGTZEN Principal Financial Officer . CEO Utah Life Real Chief Accounting Officer 1 Estate Group eXp World
Slide 3: Forward Looking Statements
exp Howbines, we. HIIlliil Forward Looking Statements 1 Within the meaning of the Private Securities Litigation Reform Act of 1995 Excluding the information from sources indicated, the content of this presentation is copyright 2025 eXp World Holdings, Inc. All Rights Reserved. There will be a number
Slide 4: Welcome
Welcome to our new metaverse on the web Click ona screen to zoom into it JIIIII exp ie
Slide 5: slido.com
slido.com c ae. event code: #EXPI = @ aso ¢ exp ic8 HOLDINGS, INC. OXP istics, ne MMIII
Slide 6: Business Highlights
Business Highlights Q4 & Full-Year 2024 Glenn Sanford Founder, Chairman & CEO eXp World Holdings OX etoincs, me. MHIIIII
Slide 7: The eXp Platform
The exp Platform A Differentiated Platform Creating Value & Driving Success Worldwide MMH The Most Agent-Centric Real Estate Brokerage on the Planet @XP)|nortn AMERICA exp | INTERNATIONAL SUCCESS’
Slide 8: eXp is a Worldwide Opportunity
MMH e Ended 2024 at an all-time high of productive agents ¢ Grew 2024 revenue 63% year-over-year I o Q4 revenue grew 72% year-over-year International + Increased 2024 adjusted EBITDA’ profitabilit eXp is a Worldwide Opportunity 31% Vea aveeey i z e 24 countries strong and expanding into 3 additional
Slide 9: The Future of Real Estate eXp Is Headed To
The Future of RealEstate e@Xp_ IsHeadedto \ | 2025, Turkiye | « Peru _ Egypt
Slide 10: 2024 Recap & 2025 Vision
2024 Recap & 2025 Vision Leo Pareja Chief Executive Officer eXp Realty OX etoincs, me. MHIIIII
Slide 11: Investing in Agents Drives NPS and Productive Agents
Investing in Agents Drives NPS and Productive Agents Agent NPS Scores Reflect An Increasingly Strong Agent Value Proposition MMH 2024 aNPS score of 76, a3 NPS Score point improvement over 2023 aNPS is a leading indicator of future growth 76 AGENT NPS REMAINS STRONG FOR 2024 ¢ 76 for 2024 vs 73 for 2
Slide 12: Investing in Agents Drives NPS and Productive Agents
Investing in Agents Drives NPS and Productive Agents Agent NPS Scores Reflect An Increasingly Strong Agent Value Proposition MMH 2024 aNPS score of 76, a3 point improvement over 2023 / 6 aNPS is a leading indicator of future growth NPS Score Beyond transactions, our State Broker Teams were another k
Slide 13: Best Places to Work
Best Places to Work Glassdoor Best Places to Work for 8th Consecutive Year MMII ‘GLASSDOOR’ 4.5 Ka KK Great technology and support. | was able to 2x my income when | joined with eXp and that is really due to the community support.” KkKkekkk eXp is very agent-centric which makes me want to provide mo
Slide 14: Driving Agent Success
D) rivin fe UNIQUE INCENTIVE PROGRAMS MUNIN ¢ Accelerate™, Boost™, Thrive™ ¢ Fast Start Attraction Bonus A g e n t * REVenue Share 2.0 INDUSTRY-LEADING EDUCATION & TRAINING S ¢ eXp University u Cc Cc e S S © 111% increase in training attendance in 2024 vs 2023 ¢ Regional Rallies © 2024: 20 locations
Slide 15: Driving Agent Success
Driving Agent SUCCESS — CXP EE hes ne UNIQUE TOOLS & GROWTH OPPORTUNITIES Canva Enterprise o First-of-its-kind collaboration with Canva, the leading marketing design tool giving access to all eXp agents. o Inthe first 30 days over 68,481 designs were created, in the first 60 days 189,035 designs. Si
Slide 16: FastCap: Deep Dive
FastCap: Deep Dive sil FastCap is a 6-week immersive program created after studying top rookie agents and is a step-by-step blueprint to agent success Not just another class: action-based, builds momentum, creates a business that grows with the agent Topics include mastering lead generation, lead co
Slide 17: Strong Momentum
MMMIAL Strong Momentum +12% Transactions +23% Volume per eXp Agent per eXp Agent 120 CONGRATS to our TOP 10 US Teams who closed a combined $439.8M Volume in December 2024 | i - 100 a e 80 X% | WORLD Q4 2023 Q4 2024 Q4 2023 Q4 2024 e p | HOLDINGS, INC.
Slide 18: Attracting Powerhouse Agents & Teams
Attracting Powerhouse Noten ena Agents & Teams Kris Caldwell THE APOLLO GROUP Team Leader | Denver, CO $200M Previous Team Volume, Top Compass Team Leader, Zillow Flex INI exp | tooo
Slide 19: Attracting Powerhouse Agents & Teams
Attracting Powerhouse Noten ena Agents & Teams Gina Kirschenheiter and Travis Mullen THE GATED GROUP Team Leader | Orange Co. CA Real Housewife of Orange County Celebrity, Launch video went viral INI exp | tooo
Slide 20: Attracting Powerhouse Agents & Teams
Attracting Powerhouse Noten ena Agents & Teams Jeff Quintin THE QUINTIN GROUP Team Leader | NJ and PA $139M Volume, Left KW Ranked Top 200 Nationally by RealTrends and The Wall Street Journal INI exp | tooo
Slide 21: Attracting Powerhouse Agents & Teams
Attracting Powerhouse Noten ena Agents & Teams Justin McLaughlin Team Leader | Shorewood, IL 3 time ICON winner, left to Epique for 7 months and returned to eXp, 15 agents INI exp | tooo
Slide 22: Why eXp? Why Now?
Why eXp? Why now? Spring Bengtzen CEO Utah Life Real Estate Group exp | poise INC. MII
Slide 23: 2024 Recap & 2025 Vision
2024 Recap & 2025 Vision Wendy Forsythe Chief Marketing Officer, eXp Realty exp | HOLDINGS, INC. MII
Slide 24: Financial Management
FINANCIAL MANAGEMENT RevShare 2.0 Pay Now My eXp BUILDING A LEGACY Agent Equity RevShare 2.0 Icon Awards Growth Team Global Network BRAND & MARKETING Canva Build A Sign Luxury Division eXp Solutions Revonos Global Referral Network eXp Access RELATIONSHIP MANAGEMENT * KVCore * Sisu exp REALTY VALUE W
Slide 25: 2025 - Make Bold Moves
2025 - Make Bold Moves mi Continue the Evolution of exp 2.0 Through Telling the Stories of our Agents Success. I’m reflecting on that if a company can change this much in one year, how much can | change? How many levels of growth can I unlock? eXp today is a completely different company. What Leo Pa
Slide 26: 2025 - Make Bold Moves
Ae! | la Mw LI 2025 - Make Bold Moves sul Continue the Evolution of exp 2.0 Through Telling the Stories of our Agents Success. Age doesn’t define your eXp has been incredible! success. Determination, . It's my 4th Icon in a row creativity, and since leaving Keller collaboration do. t Williams With e
Slide 27: 2025 - Make Bold Moves
a Wa Way | ae Li of 2025 - Make Bold Moves sul Continue the Evolution of exp 2.0 Through Telling the Stories of our Agents Success. eXp has a great win-win 4 4 | wanted to connect my culture, a growth b team to a place where they mindset and an : could explore multiple awesome revenue share streams
Slide 28: eXpcon 2025
eXpcon 2025 | nm Montreal ; Barcelona Miami, eeu ene June 23-25, 2025 October 19-23y:2025. ] by PSP et & f
Slide 29: Financial Highlights
Financial Highlights Q4 & Full-Year 2024 Kent Cheng Principal Financial Officer, Chief Accounting Officer, eXp World Holdings OX etoincs, me. MHIIIII
Slide 30: Q4 2024 Highlights
HOLDINGS, INC. ending the fourth quarter 2024 at 77. =y (e) WORLD HH ¢ Excellent agent engagement - aNPS remained high, * 434K real estate sales transactions generated $4.6 billion of revenue in 2024 despite a tough macro @) 4 & F U | | environment. o Real estate sales volume was up 17% in Q4, drive
Slide 31: Q4 2024 Highlights
Q4 2024 Highlights exp Financial $1,098.2M | +12% Q4 Revenue & y/y change 12.0% | -90 bps Q4 Non-GAAP Gross Margin” (revenue less commissions & other expenses, excluding SBC and revenue share) & y/y change $7.7M | +151% Q4 Adjusted EBITDA” & y/y change $113.6M | -10% Q4 Cash & Equivalents & y/y chan
Slide 32: 2024 Highlights
2024 Highlights Financial $4,567.7M | +7% 2024 Revenue & y/y change 12.6% | -50 bps 2024 Non-GAAP Gross Margin” (revenue less commissions & other expenses, excluding SBC and revenue share) & y/y change $75.5M | +16% 2024 Adjusted EBITDA” & y/y change $113.6M | -10% 2024 Cash & Equivalents & y/y chan
Slide 33: Revenue Growth & Improving Profitability Across All Segments
Revenue Growth & Improving Profitability Across All Segments N Amercian International Other Affiliated Corporate & eXp World Realty Realty Services Eliminations Holdings Revenue $1,069.9M $28.0M $1.4M $(1.1)M $1,098.2M Variance % y/y 1% 72% 33% 14% 12% Adj. EBITDA” $14.0M $(2.1)M $(1.8)M $(2.4)M $7.
Slide 34: Revenue Growth & Improving Profitability Across All Segments
Revenue Growth & Improving Profitability Across All Segments FY 2024 N Amercian International Other Affiliated Corporate & eXp World Realty Realty Services Eliminations Holdings Revenue $4,478.3M $88.1M $6.1M $4,567.7M Variance % y/y 6% 63% 27% 2% 7% Adj. EBITDA(1) $99.3M $(9.5)M $(4.9)M $(9.4)M $75
Slide 35: eXp Equity to Agents
EXPI EQUITY TO AGENTS A Q e a tC e In 2024, we issued 1.8 million shares to agents with an . estimated value of $22 million. Equity Share Repurchases U p S | d e e Share repurchases are a source of demand for EXPI shares and offset dilution from stock compensation to Rewarding Agent agents and emplo
Slide 36: Q4 & Full Year 2024 Earnings Q&A
Q4 & Full Year 2024 Earnings Q&A GLENN SANFORD LEO PAREJA CEO Founder, Chairman & CEO J a > HN eXp Realty eXp World Holdings WENDY FORSYTHE Chief Marketing Officer eXp Realty KENT CHENG Principal Financial Officer Chief Accounting Officer iy eXp World Holdings % eXp 2x: HOLDINGS, INC. SPRING BENGTZE
Slide 37: Stay Up-to-Date
Stay Up-to-Date Iii Visit our website for the latest updates on news, results & events. Find the recording of this call & our latest investor presentation. eX pee . HOLDINGS, INC. expworldholdings.com
Slide 38: Appendix
Appendix eX pee . HOLDINGS, INC. expworldholdings.com
Slide 39: Use of Non-GAAP Financial Measures
Use of Non-GAAP Financial Measures To provide investors with additional information regarding our financial results, this chat deck includes references to adjusted EBITDA, adjusted segment EBITDA, adjusted net income, and non-GAAP gross margin, which are non-U.S. GAAP financial measures that may be
Slide 40: Reconciliation of GAAP to Non-GAAP Gross Margin
MII Reconciliation of GAAP to Non-GAAP Gross Margin ex | WORLD HOLDINGS, INC. Reconciliation of GAAP Operating Expenses to Non-GAAP Operating Expenses (Table 1) Three Months Ended December 31, Year Ended December 31, 2024 2023 2024 2023 (in thousands, unaudited) Revenues $ 1,098,187 $ 981,459 $ 4567
Slide 41: Reconciliation of GAAP to Adjusted EBITDA
Reconciliation of GAAP to EXP etdies, me Non-GAAP Financial Measures MMII CONSOLIDATED US-GAAP NET INCOME TO ADJUSTED EBITDA RECONCILIATION (In thousands) Three Months Ended December 31, Year Ended December 31, 2024 2023 2024 2023 Net (loss) income from continuing operations $ (8,243) $ (12,081) $ (
Slide 42: Reconciliation of GAAP to Adjusted Net Income
Reconciliation of GAAP to EXP etdies, me Non-GAAP Financial Measures CONSOLIDATED US-GAAP NET INCOME TO ADJUS TED NET INCOME RECONCILIATION (in thousands) ‘hree Months Ended December 31, Year Ended December 31, 2024 2023 2024 2023 Net (loss) income attributable to eXp World Holdings, Inc. $ (9,505)
Slide 43: Adjusted Operating Cash Flow
Reconciliation of GAAP to EXP etdies, me Non-GAAP Financial Measures MIMIUILL ADJUSTED OPERATING CASH FLOW (In thousands) Three Months Ended December 31, Year Ended December 31, 2024 2023 2024 2023 Net Cash Provided by Operating Activities $ 13,714 $§$ 32,615 $ 191,514 $ 209,131 Less: Customer Depos
Slide 44: High-Quality Productive Agents
High-Quality Productive Agents eXp's Model Drives Retention Among Highly Productive Agents Attrition by U.S. Agent Annual Productivity sales 77.9% 3-7sales 14.0% 8-12 sales 13 - 20 sales 21+ sales eerie ron of ans Sts MMIII eXp s28% HOLDINGS, INC. Majority of departing agents continue to be in the l