eXp World Holdings, Inc. · NASDAQ:AGNT
eXp World — Q1 2023 Earnings Presentation
21 slides from eXp World's earnings presentation, May 2, 2023
Slide 1: Q1 2023 Financial Results
Q1 2023 FINANCIAL RESULTS slido.com VIRTUAL FIRESIDE CHAT event code: May 2, 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: Q1 2023 Earnings
Q1 2023 Earnings Glenn Sanford Jeff Whiteside Founder & Chairman CFO & CCO, CEO, eXp World Holdings eXp World Holdings 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: Q1 2023 Business & Financial Highlights
Q1 2023 Business & Financial Highlights eXp Realty eXp North American Realty ● Over 87,000 Agents, 12% y/y growth ● Strong retention of agents in U.S. & Canada ● International Realty record revenue ○ Almost half (47%) of agent attrition quarter, +52% y/y from agents with no sales eXp World Holdings
Slide 8: Market Share Gains in Challenged Market
Market Share Gains in Challenged Market INDUSTRY DATA INDICATE EXP REALTY CONTINUES TO GAIN SHARE Q1 2023 YEAR OVER YEAR GROWTH ESTIMATED ESTIMATED RESIDENTIAL REAL eXp REALTY MARKET SHARE MARKET SHARE ESTATE INDUSTRY (excluding leases and rentals) (excluding lease and rentals) GROWTH Agents -0.3% (
Slide 9: Building Strength Through the Downturn
Building Strength Through the Downturn CONTINUOUS VALUE PROPOSITION ENHANCEMENTS MAKE EXP THE BEST CHOICE FOR AGENTS
Slide 10: Top Producing Agents Grow With eXp Realty
Top Producing Agents Grow With eXp Realty EXP REALTY’S NUMBER ONE GROWTH LEADERSHIP CONTINUES TO ATTRACTS TOP PRODUCERS " eXp Realty ranked No. 1 in four categories on the 2023 In a year of belt-tightening and fewer transactions, agents – RealTrends 500: Sides, Top and their transactions – appear to
Slide 11: Further Strengthening the Agent Value Proposition
Further Strengthening the Agent Value Proposition DRIVING INNOVATION TO DELIVER STRONG AGENT EXPERIENCE Maintaining strong Agent Products & Support NPS score of 70 despite ● Exclusive Realty.com Partnership Benefits industry downturn ○ eXp Realty agents / teams are gaining traction and live on Realty
Slide 12: Financial Highlights Q1 2023
Financial Highlights Q1 2023 Jeff Whiteside CFO & CCO, eXp World Holdings
Slide 13: Q1 2023 Highlights
Q1 2023 Highlights eXp World Holdings ● Revenue of $850.6 million was 16% below the prior year quarter due to challenging market conditions, with both transactions and average selling prices down year over year. ● Gross profit of $73.1 million decreased 12%, gross margin improved 33 basis points to 8
Slide 14: Q1 2023 Segment Financial Highlights
Q1 2023 Segment Financial Highlights Other N American International Affiliated Corporate & eXp World Q1 2023 Realty Realty Virbela Services Eliminations Holdings Revenue $837.1M $10.8M $2.2M $1.7M $(1.1)M $850.6M Variance % y/y -16% 52% 19% 100% -23% -16% Adj. EBITDA(1) $21.2M $(3.7)M $(1.3)M $(0.7)M
Slide 15: eXp Consolidated Key Metrics for Q1 2023
eXp Consolidated Key Metrics for Q1 2023 2023 2022 Variance Q1 SUMMARY Operating Metrics ● Maintained a strong agent NPS score of 70 and ANPS 70 71 -1 agent count increased +12% vs prior year. Agents 87,327 78,196 12% Units 102,305 114,305 -10% ● Revenue decreased -16%. Price per Unit $325 $362 -10%
Slide 16: Revenue & Agent Growth
Revenue & Agent Growth CONTINUED GROWTH IN AGENT COUNT DESPITE A CHALLENGING REVENUE ENVIRONMENT eXp Realty Ending Agents and Revenue By Quarter Q1 2023 Agent Growth YoY 12% Now 87K+ agents1 Agent Count Revenue Total Q1 2023 Revenue $850.6M (1) As of March 31, 2023. 16
Slide 17: Q1 2023 Earnings Fireside Chat Q&A
Q1 2023 Earnings Fireside Chat Q&A Glenn Sanford Jeff Whiteside Founder & Chairman CFO & CCO, CEO, eXp World Holdings eXp World Holdings CEO, eXp Realty 17
Slide 18: Scale to New Heights - Shareholder Summit
SCALE TO NEW HEIGHTS MAY 17 - 20, 2023 Orlando, Florida REGISTER NOW expshareholdersummit.com 18
Slide 19: 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
Slide 20: Appendix
APPENDIX 20
Slide 21: 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 75.9% 3 - 7 sales 14.0% 3.6X Top producing agents 8 - 12 sales 4.9% are 3.6 times less likely to churn than low producers 13 - 20 sales 3.2% 21+ sales 2