eXp World Holdings, Inc. · NASDAQ:AGNT
eXp World — Q3 2023 Earnings Presentation
23 slides from eXp World's earnings presentation, Nov 2, 2023
Slide 1: Q3 2023 Financial Results
Q3 2023 FINANCIAL RESULTS slido.com VIRTUAL FIRESIDE CHAT event code: #EXPI November 2, 2023
Slide 2: Forward Looking Statements
Forward Looking Statements There will be a number of forward-looking statements1 made today that should be considered in conjunction with the cautionary statements contained in the Company’s SEC filings. Forward-looking statements are subject to various risks and uncertainties that could cause our ac
Slide 3: Click on the Stage Zoom
Click on the Stage Zoom located to the right of the chat box to zoom into the stage REFRESH ICON (Located on the upper right of screen) Refreshes your screen 3
Slide 4: slido.com event code: #EXPI
slido.com event code: #EXPI 4 4
Slide 5: Q3 2023 Earnings
Q3 2023 Earnings Glenn Sanford Jeff Whiteside Leo Pareja Founder & Chairman CEO, CFO & CCO, Chief Strategy Officer, eXp World Holdings eXp World Holdings eXp Realty CEO, eXp Realty
Slide 6: Business Highlights Q3 2023
Business Highlights Q3 2023 Glenn Sanford Founder & Chairman CEO, eXp World Holdings CEO, eXp Realty
Slide 7: Our Path to Success
Our Path to Success DRIVING WORLDWIDE GROWTH & LONG-TERM PROFITABILITY
Slide 8: Our Differentiated Value Prop
Our Differentiated Value Prop CONSTANTLY ITERATING ON THE AGENT VALUE PROPOSITION Creating an Ecosystem of Personal Enterprise and Web-based Development, Health Resources & Media Metaverse Platforms
Slide 9: Agent NPS Continues to Grow
Agent NPS Continues to Grow aNPS SCORES REFLECT AN INCREASINGLY STRONG AGENT VALUE PROPOSITION Agent NPS score of 74, AGENT NET PROMOTER SCORE BY REGION a 3 point y/y improvement, despite 74 industry downturn 72 72 71 71 71 69 US NPS is a leading indicator of future 74 69 70 growth 66 Canada 55 59 5
Slide 10: eXp Realty Outperforms the Industry
eXp Realty Outperforms the Industry INDUSTRY DATA INDICATE EXP REALTY INCREASING MARKET SHARE IN INDUSTRY DOWN CYCLE Real Estate Sales Transactions Estimated Market Share Estimated Market Year-Over-Year Growth (excluding leases & rentals) Share Growth 2023 Q3 2023 YTD 2023 Q3 2023 YTD 2023 Q3 2023 Y
Slide 11: High-Quality, Productive Agents
High-Quality, Productive Agents EXP'S MODEL DRIVES RETENTION AMONG HIGHLY PRODUCTIVE AGENTS Attrition by U.S. Agent Annual Productivity 0 - 2 sales 78.4% 3 - 7 sales 13.6% 4.5X Top producing agents 8 - 12 sales 4.5% are 4.5 times less likely to churn than low producers 13 - 20 sales 2.0% 21+ sales 1
Slide 12: Ancillary Services & Growth Highlights Q3 2023
Ancillary Services & Growth Highlights Q3 2023 Leo Pareja Chief Strategy Officer eXp Realty
Slide 13: Ancillary Services & Growth
Ancillary Services & Growth NEW AGENT PROGRAMS AND MOMENTUM ACROSS INCREMENTAL REVENUE AND MARGIN Team/Independent Brokerage Programs ● Boost & Thrive eXp Exclusives ● Solution for eXp’s agents in low inventory environment Revenos ● Corporate referral program ● Early, but gaining traction ○ Transact
Slide 14: #1 Growth Leader
#1 Growth Leader ACROSS AGENT COUNT, VOLUME & TRANSACTIONS NO. 1 NO. 1 NO. 1 NO. 1 NO. 1 NO. 4 Growth leader in Sides Top Mover: Independent Transactions Sales Volume year-over-year sales Sides and volume, transaction Sales sides and agent count
Slide 15: Financial Highlights Q3 2023
Financial Highlights Q3 2023 Jeff Whiteside CFO & CCO, eXp World Holdings
Slide 16: Q3 2023 Business & Financial Highlights
Q3 2023 Business & Financial Highlights eXp World Holdings eXp North American Realty ● Over 89,000 Agents, 5% y/y growth ● North American Realty aNPS of 74 ○ aNPS of 74 increased from 71 in the increased from 72 in the third quarter of third quarter of 2022 driven by eXp’s 2022, driving strong reten
Slide 17: Q3 2023 Financial Highlights
Q3 2023 Financial Highlights Performance Above Market Conditions ● In Q3 2023 total home sales declined -15% year over year vs -9% year-over-year decline in eXp’s U.S. residential sales transactions and -6% year-over-year decline in eXp’s North American Realty sales transactions ● NAR reported U.S.
Slide 18: Q3 2023 Segment Financial Highlights
Q3 2023 Segment Financial Highlights Other N American International Corporate & eXp World Q3 2023 Virbela Affiliated Realty Realty Eliminations Holdings Services Revenue $1,198.2M $14.9M $1.7M $1.0M $(1.3)M $1,214.5M Variance % y/y -2% 47% -26% -31% 0% -2% Adj. EBITDA(1) $27.2M $(2.6)M $(1.3)M $(0.9)M
Slide 19: eXp Consolidated Key Metrics for Q3 2023
eXp Consolidated Key Metrics for Q3 2023 2023 2022 Variance Q3 SUMMARY Operating Metrics ANPS 74 71 +3 ● Increased agent NPS score to 74 from 71 a year ago, Agents 89,156 84,911 5% with 5% year-over-year agent count growth. Units 139,480 138,354 1% ● Revenue decreased -2%. Price per Unit $348 $364 -
Slide 20: YTD Q3 2023 Segment Financial Highlights
YTD Q3 2023 Segment Financial Highlights Despite challenging market conditions, eXp World Holdings YTD Adjusted EBITDA is on par with YTD 2022 (1) Other N American International Corporate & eXp World YTD Q3 2023 Virbela Affiliated Realty Realty Eliminations Holdings Services Revenue $3,254.7M $37.6M $
Slide 21: Revenue & Agent Growth
Revenue & Agent Growth CONTINUED GROWTH IN AGENT COUNT DESPITE A CHALLENGING REVENUE ENVIRONMENT eXp Realty Ending Agents and Revenue By Quarter Q3 2023 Agent Growth YoY 5% Now 89K+ agents1 Agent Count Revenue Total Q3 2023 Revenue $1.2B (1) As of September 30, 2023.
Slide 22: Q3 2023 Earnings
Q3 2023 Earnings Glenn Sanford Jeff Whiteside Leo Pareja Founder & Chairman CEO, CFO & CCO, Chief Strategy Officer, eXp World Holdings eXp World Holdings eXp Realty CEO, eXp Realty
Slide 23: Visit our website for the latest updates
Visit our website for the latest updates on news, results & events. Find the recording of this call & our latest investor presentation. expworldholdings.com 23