Exp World Holdings, Inc. · NASDAQ:AGNT
Exp World — Q2 2023 Earnings Presentation
20 slides from Exp World's earnings presentation, Aug 3, 2023
Slide 1: Q2 2023 Financial Results
Q2 2023 FINANCIAL RESULTS slido.com VIRTUAL FIRESIDE CHAT event code: August 3, 2023 #EXPI
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 3
Slide 4: #EXPI event code
slido.com event code: #EXPI 4 4
Slide 5: Q2 2023 Earnings
Q2 2023 Earnings Glenn Sanford Jeff Whiteside Michael Valdes Founder & Chairman CEO, CFO & CCO, Chief Growth Officer, eXp World Holdings eXp World Holdings eXp Realty CEO, eXp Realty 5
Slide 6: Built to drive continued growth
Built to drive continued growth Constantly enhancing the agent value proposition Global Cloud-Based Real Estate Brokerage Ecosystem of Personal Development, Health Resources & Media Enterprise and Web-based Metaverse Platforms
Slide 7: Q2 2023 Business & Financial Highlights
Q2 2023 Business & Financial Highlights EXPI eXp North American Realty ● Over 88,000 Agents, 7% y/y growth ● North American Realty continues to ○ Strong value proposition drives deliver aNPS to 72, compared to 68 in the ○ Adjusted EBITDA profitability, with second quarter of 2022 $34 million in the
Slide 8: Investing in Agents Drives NPS and Long-Term Growth
Investing in Agents Drives NPS and Long-Term Growth STREAMLINING SYSTEMS & DELIVERING INNOVATIVE TECHNOLOGY SOLUTIONS Agent Support Systems ● Improved and deployed additional agent support systems, such as: Agent NPS score of 72, a 4 ○ Following up with detractors within 48 hours point y/y improveme
Slide 9: 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 75.0% 3 - 7 sales 15.9% 4.4X Top producing agents 8 - 12 sales 5.1% are 4.4 times less likely to churn than low producers 13 - 20 sales 2.5% 21+ sales 1
Slide 10: Ancillary Services & Growth
Ancillary Services & Growth LAYING THE FOUNDATION FOR NEW AGENT AND EXP INCOME STREAMS Ancillary Services & Solutions ● Growing adoption by helping our agents increase their value proposition and creating amazing customer experiences for their end customers with: ○ Home Warranty, Utility Services, S
Slide 11: Agent Engagement
Agent Engagement CELEBRATING AGENT PRODUCTION AND ACCOMPLISHMENTS Top 50 Masterminds ● Hosting mastermind meetings with the company’s top agents by production to facilitate deep discussions on core topics to drive growth EXPCON Canada ● Hosting eXp Realty’s first Canadian conference–in line with the
Slide 12: Financial Highlights Q2 2023
Financial Highlights Q2 2023 Jeff Whiteside CFO & CCO, eXp World Holdings
Slide 13: Q2 2023 Highlights
Q2 2023 Highlights Performance Above Market Conditions ● Fannie Mae forecasted Q2 2023 total home sales declined -17% year over year vs -9% year-over-year decline at eXp North American Realty ● NAR reported U.S. residential real estate agents declined -1.1% from June 2022 to June 2023 vs a year-over
Slide 14: Q2 2023 Segment Financial Highlights
Q2 2023 Segment Financial Highlights Other N American International Affiliated Corporate & eXp World Q2 2023 Realty Realty Virbela Services Eliminations Holdings Revenue $1,219.3M $12.0M $1.8M $1.1M $(1.3)M $1,232.9M Variance % y/y -13% 35% -11% 3% -35% -13% Adj. EBITDA(1) $34.1M $(3.8)M $(1.2)M $(1.2
Slide 15: eXp Consolidated Key Metrics for Q2 2023
eXp Consolidated Key Metrics for Q2 2023 2023 2022 Variance Q2 SUMMARY Operating Metrics ● Increased agent NPS score to 72 from 68 a year ANPS 72 68 +4 ago, with 7% year-over-year agent count growth. Agents 88,248 82,856 7% Units 137,199 150,032 -9% ● Revenue decreased -13%. Price per Unit $354 $386
Slide 16: YTD Q2 2023 Segment Financial Highlights
YTD Q2 2023 Segment Financial Highlights Other N American International Affiliated Corporate & eXp World YTD Q2 2023 Realty Realty Virbela Services Eliminations Holdings Revenue $2,056.5M $22.7M $4.0M $2.7M $(2.4)M $2,083.5M Variance % y/y -15% 42% 3% 46% -29% -14% Adj. EBITDA(1) $55.3M $(7.5)M $(2.5)
Slide 17: Revenue & Agent Growth
Revenue & Agent Growth CONTINUED GROWTH IN AGENT COUNT DESPITE A CHALLENGING REVENUE ENVIRONMENT eXp Realty Ending Agents and Revenue By Quarter Q2 2023 Agent Growth YoY 7% Now 88K+ agents1 Agent Count Revenue Total Q2 2023 Revenue $1.2B (1) As of June 30, 2023. 17
Slide 18: Q2 2023 Earnings
Q2 2023 Earnings Glenn Sanford Jeff Whiteside Michael Valdes Founder & Chairman CEO, CFO & CCO, Chief Growth Officer, eXp World Holdings eXp World Holdings eXp Realty CEO, eXp Realty 18
Slide 19: eXpcon: See You There
eXpcon: SEE YOU THERE EAS VEGAS, eXpcon e OCT. 2-5, 2023 CANADA ad VANCOUVER, B.C. SEPT. 6-8, 2023 J REGISTERATION ve NOW OPEN © expcon.exprealty.com
Slide 20: 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