eXp Realty has taken the real estate market by storm achieving incredible growth over the past decade. The company's full-service brokerage, which operates virtually and in the cloud, is expanding at rapid speed, leaving investors to wonder if eXp World Holdings (NASDAQ: EXPI), the holding company for eXp Realty, is a buy. Here's where the company stands today and whether it's a good buy in the current market.
Massive and rapid growth
eXp World Holdings earns revenues from its virtual residential and commercial brokerages and real estate technology solutions. Right now, the company has 39,000 agents with brokerages in 10 countries, including the U.S, Australia, Canada, France, India, Mexico, Portugal, South Africa, the United Kingdom, and now Puerto Rico, with plans to expand into Brazil, Italy, and Hong Kong in early 2021.
Annual revenues for eXp World Holdings nearly doubled from $500.1 million in 2018 to $980 million in 2019. Q4 and final annual earnings for 2020 have yet to be released, the company is on track for achieving its highest year yet, with $1.4 billion in revenues as of September 30th, 2020.
The hot real estate market has benefited the company, with a 112% increase in residential transactions, and 56% increase in agents when compared to the same quarter last year. To boot, the company is well positioned financially, with healthy debt ratios.
Is eXP a good buy right now?