eXp World Q3 Earnings Top Estimates

eXp World Holdings Inc EXPI reported third-quarter FY21 sales growth of 97% year-on-year, to $1.1 billion, beating the analyst consensus of $999.06 million.
Gross profit increased 70% Y/Y to $79.5 million. The operating expenses increased 100.3% Y/Y to $1.09 billion.
The operating margin was 1%, and operating income for the quarter declined 26.6% to $11.2 million.
Residential transaction sides closed increased 72% to 130,029. Residential transaction volume increased 97% to $46.6 billion.
Adjusted EBITDA of $23.1 million increased 6% Y/Y.
EPS of $0.15 beat the analyst consensus of $0.11.
Agents and brokers on the eXp Realty platform increased 82% to 65,269.
eXp World held $98.1 million in cash and equivalents as of September 30, 2021.
Price Action: EXPI shares are trading lower by 8.30% at $46.81 on the last check Wednesday.

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