eXp World Holdings Up 33% in Q2

eXp World Holdings, Inc. the parent company for eXp Realty and VirBELA, recently reported quarterly revenue grew 33 percent year-over-year to $354 million.

The $354 million compares with $267 million in the second quarter of 2019. The company also reported the number of agents and brokers on the eXp Realty platform increased 54 percent to 31,091 at the end of the second quarter of 2020, compared to 20,162 in 2019.

“Even in these uncertain times, eXp Realty continued to deliver on its value proposition to agents, brokers and consumers and report record financial results,” said said eXp World Holdings CEO, Chairman and Founder Glenn Sanford. “We achieved the most profitable quarter in the company’s more than 10-year history with a positive net income for the third quarter in a row.”

According to Sanford, VirBELA expanded quickly during the quarter to keep up with demand as companies look to the future and how they will operate given all the uncertainties around physical office set-ups or how to hold events.

“As we look toward the second half of 2020, we anticipate the presence and influence of COVID-19 to linger, but eXp World Holdings’ businesses are uniquely positioned to adapt and thrive,” said eXp World Holdings CFO and Chief Collaboration Officer Jeff Whiteside. “At VirBELA, we see significant growth opportunities ahead as remote work, distance learning and virtual events become the norm during this time of physical distancing.”

To read the full eXp World Holdings Q2 2020 report, click here.