eXp World Holdings, Inc. (NASDAQ:EXPI) Q3 2023 Earnings Call Transcript
eXp World Holdings, Inc. (NASDAQ:EXPI) Q3 2023 Earnings Call Transcript November 2, 2023
eXp World Holdings, Inc. misses on earnings expectations. Reported EPS is $0.01 EPS, expectations were $0.06.
Denise Garcia: Hi, everyone. My name is Denise Garcia, and I manage Investor Relations for eXp World Holdings. Welcome to eXp World Holdings Third Quarter earnings fireside chat via live stream and EXPI’s campus or metaverse. Today, we’ll begin with our earnings fireside chat with prepared remarks from Glenn Sanford, Founder, Chairman and CEO of eXp World Holdings and CEO, eXp Realty; and Leo Pareja, Chief Strategy Officer, eXp Realty; followed by a review of the third quarter 2023 financial highlights presented by Jeff Whiteside, CFO, and Chief Collaboration Officer of eXp World Holdings. Following our prepared remarks, we’ll open the call to a Q&A session with eXp World Holdings covering analysts and questions submitted to eXp. Let’s begin with a review of the forward-looking statements.
There will be a number of forward-looking statements 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 actual results to differ materially from these statements. Please see our filings with the SEC, including our most recently filed annual report on Form 10-K and quarterly reports on Form 10-Q for a discussion of specific risks that may affect our business, performance and financial condition. We assume no obligation to update or revise any forward-looking statements or information. As a reminder, today’s call is being recorded and a replay will also be made available on expworldholdings.com.
An aerial view of the largest real estate development in the city, symbolizing the company's success.
Now for a few logistics, we’ll get started. For those of you joining in the EXPI campus today, to see all three screens, hit the stage zoom button to the right of your chat box. To zoom into a specific screen, you can hit the plus icon above that screen. If you happen to see no slides or a gray slide, hit the refresh icon on the top right hand corner of that screen to correct. While on EXPI campus, should you need any help or have any questions, please enter your comments in the chat box at the bottom on the left, and a member of the team will contact you. Slido, should you wish to ask a question during our presentation, you could enter your questions by scanning the QR code presented on the screen. With your phone or go to slido.com and type in the event code EXPI.
From there, you could submit a question or vote up an existing question by giving a thumbs up. We’d also like to have that question asked. This screen will remain up on the left-hand side of the stage. Now I will turn the fireside chat over to our speakers before opening the call to your questions. Glenn, please go ahead. Hey Glenn, I think your mic might be off.
Glenn Sanford: It is. Sorry about that. I had a lot of great things there. Hey, everyone. Thanks today for joining us on our call, during our third quarter. I’ll discuss some of our business strategy before getting into some of the highlights for the quarter and then passing on to Leo, and Jeff will take you through the through the financials. First, as you know, we began sharing business segment information on our fourth quarter earnings call last year. So, you can actually see the profitability of eXp North America, which, as you will note when reviewing the Q, really enables us to invest in the growth areas of the business that we think are worth investing in. So, eXp Realty includes, the U.S. and Canada, and we are the largest single real estate brokerage in the U.S. by transaction volume.
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