eXp posts steady Q1 earnings, reinforces Clear Cooperation stance

eXp World Holdings, the parent company of eXp Realty, released its first-quarter 2025 earnings on Tuesday, showcasing slight revenue growth, a firm stance on real estate listing transparency, and investments in artificial intelligence (AI).
During the quarter, the company posted revenue of $954.9 million, up by 1% compared to the previous year, with an adjusted EBITDA of $2.2 million.
Cash and cash equivalents increased to $115.7 million from $109.2 million in the first quarter of 2024. eXp also generated $39.8 million in net cash from operating activities and $28.2 million in adjusted operating cash flow.
The total agent count by the end of March was 81,904, a 5% decrease from the previous year, while global transaction volume grew by 4% to $38.6 billion. Transaction sides saw a 2% decline to 89,643, and eXp’s agent net promoter score rose to 78 from 73.
CEO Leo Pareja underlined the company’s response to industry changes, particularly the National Association of Realtors’ updated Clear Cooperation Policy. He emphasized eXp’s commitment to real estate listing transparency by partnering with Zillow and making listings available on major real estate portals.
Founder and CEO Glenn Sanford positioned eXp as a platform business with four interconnected divisions, highlighting a focus on agent-centric services and strategic reinvestment.
The company’s ongoing investments in AI and digital infrastructure were emphasized as long-term strategies to enhance agent productivity. Pareja highlighted the importance of clean real estate data and announced a new co-sponsorship program to support and attract agents.
Sanford concluded the earnings call by reiterating eXp’s dedication to agents, technology, and sustainable global expansion, emphasizing the goal of assisting agents in building successful businesses.