eXp World Holdings Reports 7% Revenue Increase to $1.32 Billion in Q3 2025

eXp World Holdings, Inc. reported a revenue increase of 7% for the third quarter of 2025, totaling $1.32 billion compared to $1.23 billion in the same period last year. For the nine months ending September 30, 2025, revenues rose by 3.2% to $3.58 billion from $3.47 billion in 2024. The company achieved a net income of $3.5 million for the third quarter, a significant improvement from a net loss of $8.5 million in the prior year. However, for the nine-month period, eXp recorded a net loss of $9.8 million, slightly worse than the $8.5 million loss reported in the same timeframe of 2024.

The company’s operating expenses for the third quarter increased to $1.31 billion, up from $1.24 billion in 2024, primarily driven by higher commissions and agent-related costs. Notably, commissions and other agent-related costs rose by 8% to $1.23 billion for the quarter, reflecting the impact of increased sales commission capping and a lower number of agents. General and administrative expenses also saw a slight increase, while technology and development expenses surged by 25% due to enhanced agent support initiatives.

eXp's operational metrics showed a decline in agent count, which fell to 83,446 from 85,249 year-over-year. Despite this, the company reported a 3.1% increase in real estate sales transactions for the quarter, totaling 121,516, and a 6.5% rise in sales volume to $54.11 billion. The agent net promoter score (aNPS) remained strong at 75, indicating high levels of agent satisfaction despite the challenging market conditions.

Strategically, eXp continues to focus on expanding its real estate brokerage operations and enhancing its technology platform. The company has not made significant acquisitions recently but remains open to opportunities that could complement its existing services. The ongoing litigation related to antitrust issues in the real estate sector has prompted eXp to adapt its business practices, including changes to commission structures and buyer agreements, which may impact future operations. Looking ahead, eXp anticipates that its existing cash reserves and operational cash flows will be sufficient to meet its liquidity needs for at least the next twelve months, although it acknowledges potential challenges posed by macroeconomic conditions and regulatory changes in the real estate market.