eXp World Holdings, Inc. · NASDAQ:AGNT
eXp World — Q1 2024 Earnings Presentation
28 slides from eXp World's earnings presentation, May 1, 2024
Slide 1: Q1 2024 Financial Results
Q1 2024 Financial Results slido.com event code: Virtual Fireside Chat #EXPI May 1, 2024
Slide 2: Q1 2024 Earnings
Q1 2024 Earnings Glenn Sanford Leo Pareja Kent Cheng Founder, Chairman & Chief Executive Officer, Principal Financial Officer, Chief Executive Officer, eXp Realty Chief Accounting Officer, eXp World Holdings eXp World Holdings
Slide 3: Forward Looking Statements
Forward Looking Statements There will be a number of forward-looking statements made today that should be considered in conjunction with the cautionary 1 statements contained in the Company’s SEC filings. Forward-looking statements are subject to various risks and uncertainties that could cause our a
Slide 4: Welcome to our new metaverse on the web
Welcome to our new metaverse on the web Click on a screen to zoom into it. 4
Slide 5: slido.com event code: #EXPI
@ app.sli.do eXp ici HOLDINGS, INC. slido.com event code: #EXPI
Slide 6: Business Highlights Q1 2024
Business Highlights Q1 2024 Glenn Sanford Founder, Chairman & Chief Executive Officer, eXp World Holdings
Slide 7: The eXp Platform
The eXp Platform A Differentiated Platform Creating Value & Driving Success Worldwide The Most Agent-Centric Real Estate Brokerage on the Planet
Slide 8: Q1 Highlights
Q1 Highlights We are entering 2024 with momentum ○ Improved our aNPS score three points, from 70 to 73 ○ Increased transactions and revenue ■ 5% increase in real estate sales transactions ■ 11% increase in revenue ○ Continued to add multiple highly productive teams and agents around the world ■ In t
Slide 9: Q1 Recap
Q1 Recap Leo Pareja Chief Executive Officer, eXp Realty
Slide 10: eXp Realty Outperforms the Industry
eXp Realty Outperforms eXp Continues To Increase Market Share Due the Industry To Agent Growth And Productivity Gains Q1 2024 Home Sales Transactions Growth (Y/Y) eXp Estimated Market Share eXp Realty Industry 2023 2024 Growth (Y/Y) Q1 +2.0% -2.7% Q1 4.2% 4.4% 4.9% Sources: Industry transactions bas
Slide 11: High NPS Drives Long-Term Growth
High NPS Drives Delivering a strong agent experience Long-Term Growth Q1 2024 aNPS score Agent NPS Remains Strong of 73, a 3 point ● 73 for Q1’24 vs. 70 for Q1’23 improvement over Q1 2023 Focus Areas Driving aNPS ● Expert Care Desk aNPS is a leading ○ Quick resolutions to issues indicator of future
Slide 12: Agent Awards & Recognition
Agent Awards & Recognition eXp Widely Recognized Recent Recognition ● Top eXp agents and teams named to the 2023 Top Producers Lists ○ Highest achievers in sales volume and transaction sides ● eXp Realty secured the top spot in five categories in the RealTrends 500 report: ○ Transaction Sides, 5 Year
Slide 13: Significant Long-term Automation Opportunities
Significant Long-term Leveraging AI to Automation Opportunities Further Support Agents Our medium-term AI roadmap includes a number of agent-centric business process improvements in the following areas, among others: ○ Broker Support ■ Luna 2.0: Customized generative AI-based personal assistants resp
Slide 14: $20 Million Profit Improvement Plan
$20 Million Profit Improvement Plan On track with $20 million profit improvement plan In the first quarter we implemented: 1. $13.3 million estimated annualized profit enhancement initiatives 2. $13.9 million cost-savings programs a. $10.9 million estimated annualized savings from reduced personnel cost
Slide 15: Real Estate Market Update
Real Estate Market Update eXp Guides Agents through Dynamic Industry Landscape ○ Providing Support and Education to Agents ○ Regional Rallies ■ Markets are shifting and this is our moment to engage, educate, celebrate and inspire our agent colleagues ■ 20 locations April 8-25 ○ Buyers Representation
Slide 16: Financial Highlights Q1 2024
Financial Highlights Q1 2024 Kent Cheng Principal Financial Officer, Chief Accounting Officer, eXp World Holdings
Slide 17: eXp Consolidated Key Metrics for Q1 2024
eXp Consolidated Key Metrics for Q1 2024 Q1 Summary Q1 2024 Q1 2023 Variance Operating Metrics ● Continued investing in agent onboard and transaction technology and process. ANPS 73 70 3 Agents 85,780 87,327 -2% ● Agent base declined slightly due to market conditions in the US. Real Estate Sales Tra
Slide 18: Consolidated Q1 2024 Revenue Change vs. Q1 2023
Consolidated Q1 2024 Revenue Change vs. Q1 2023 North American Realty Segment Revenue Change +$90M (1) Sources: US Industry transactions -2.7% based on NAR existing home sales (assuming 2 sides per sale) and U.S. Census Bureau new home sales (assuming 1 side per sale); Canada Industry transactions +
Slide 19: Q1 2024 Segment Financial Highlights
Q1 2024 Segment Financial Highlights Other N American International Corporate & eXp World Q1 2024 Affiliated Realty Realty Eliminations Holdings Services Revenue $927.1M $15.6M $1.8M $(1.5)M $943.1M Variance % y/y 11% 45% 7% -34% 11% Adj. EBITDA(1) $17.8M $(3.4)M $(0.8)M $(2.6)M $11.0M Variance % y/y
Slide 20: Q1 2024 Financial Summary
Q1 2024 Financial Summary ● Excellent agent engagement - aNPS continued to increase during the quarter. ● Grew real estate sales transactions 5% despite a slight decrease in agent count, driven by agent productivity gains. ● Transactions outperformed the industry in the US.(1) ● Grew real estate sal
Slide 21: Q1 2024 Earnings
Q1 2024 Earnings Glenn Sanford Leo Pareja Kent Cheng Founder, Chairman & Chief Executive Officer, Principal Financial Officer, Chief Executive Officer, eXp Realty Chief Accounting Officer, eXp World Holdings eXp World Holdings
Slide 22: Stay Up-to-Date
Stay 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
Slide 23: Appendix
Appendix expworldholdings.com
Slide 24: High-Quality Productive Agents
High-Quality eXp's Model Drives Retention Among Productive Agents Highly Productive Agents Attrition by U.S. Agent Annual Productivity 0 - 2 sales 73.3% ● Majority of departing agents are in the low-producing cohort ● High producing agents are 3 - 7 sales 14.8% multiples less likely to churn than lo
Slide 25: 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 net (loss) income, and adjusted operating cash flow, which are non-U.S. GAAP financial measures that may be different from
Slide 26: Reconciliation of GAAP to Non-GAAP Operating Expenses
Reconciliation of GAAP to Non-GAAP Operating Expenses
Slide 27: Reconciliation of GAAP to Non-GAAP Financial Measures
Reconciliation of GAAP to Non-GAAP Financial Measures
Slide 28: Reconciliation of GAAP to Non-GAAP Financial Measures
Reconciliation of GAAP to Non-GAAP Financial Measures