Following the transaction, Sanford retains ownership of 40,209,080 shares of eXp World Holdings (NASDAQ:EXPI). The sale was conducted under a pre-established trading plan, as indicated in the filing. Sanford continues to hold significant influence over the company, maintaining his roles as both CEO and Chairman. According to InvestingPro, the company holds more cash than debt and maintains strong liquidity, with current assets exceeding short-term obligations. Subscribers can access 15+ additional ProTips and comprehensive analysis in the Pro Research Report, offering deeper insights into EXPI's financial health and market position. According to InvestingPro, the company holds more cash than debt and maintains strong liquidity, with current assets exceeding short-term obligations. Subscribers can access 15+ additional ProTips and comprehensive analysis in the Pro Research Report, offering deeper insights into EXPI's financial health and market position.
Following the transaction, Sanford retains ownership of 40,209,080 shares of eXp World Holdings. The sale was conducted under a pre-established trading plan, as indicated in the filing. Sanford continues to hold significant influence over the company, maintaining his roles as both CEO and Chairman.
In other recent news, eXp World Holdings has reported a slight growth in revenue to $1.231 billion in Q3 2024, a 2% year-over-year increase, and an adjusted EBITDA rise of 15% to reach $23.9 million. The company has also completed the sale of key assets from its Virbela software platform to Virbela LLC, a company owned by eXp's former Co-Founder and President Alex Howland and Co-Founder and Vice President, Engineering, Erik Hill. Despite facing a challenging U.S. real estate market, the company experienced a significant 63% growth in its international sector's revenue and is set to expand into Turkey, Peru, and Egypt in early 2025.
However, an $18 million contingency provision for an ongoing antitrust lawsuit resulted in a GAAP net loss of $8.5 million for the company. In a related development, eXp's Board of Directors approved a Ninth Amendment to the company's stock repurchase plan, adjusting the monthly repurchase amounts through the end of 2025. The company also launched homehunter.global and acquired LUXVT to enhance its luxury market offerings. Despite a 4% decrease in agent count, reflecting strategic offboarding of unproductive agents, eXp World Holdings remains optimistic about future growth opportunities in the real estate market. These are the recent developments for eXp World Holdings.
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