EXP World Holdings Q2 2024 10-Q Filed
Ticker: EXPI · Form: 10-Q · Filed: Jul 31, 2024 · CIK: 1495932
Sentiment: neutral
Topics: 10-Q, financials, real estate
TL;DR
**EXP World Holdings Q2 2024 10-Q is IN. Financials updated, check for key metrics.**
AI Summary
EXP World Holdings, Inc. filed its 10-Q for the period ending June 30, 2024. The filing details financial performance and operational updates for the second quarter. Key financial data points and disclosures regarding common stock, retained earnings, and additional paid-in capital as of June 30, 2024, are included.
Why It Matters
This filing provides investors with the latest financial snapshot of EXP World Holdings, Inc., crucial for understanding the company's performance and financial health during the second quarter of 2024.
Risk Assessment
Risk Level: medium — 10-Q filings are standard disclosures, but the specific financial details within can reveal significant risks or opportunities for investors.
Key Numbers
- 2024-06-30 — Reporting Period End Date (Indicates the end of the fiscal quarter for which financial data is reported.)
- 2024-07-31 — Filing Date (The date the 10-Q was officially submitted to the SEC.)
Key Players & Entities
- EXP World Holdings, Inc. (company) — Filer of the 10-Q report
- 20240630 (date) — End of the reporting period for the 10-Q
- 20240731 (date) — Filing date of the 10-Q
- 2024-04-01 (date) — Start of the second quarter of 2024
- 2024-06-30 (date) — End of the second quarter of 2024
FAQ
What is the reporting period for this 10-Q filing?
The reporting period for this 10-Q filing is the quarter ended June 30, 2024.
When was this 10-Q filed with the SEC?
This 10-Q was filed on July 31, 2024.
What is the company's Central Index Key (CIK)?
The company's Central Index Key (CIK) is 0001495932.
What is the Standard Industrial Classification (SIC) code for EXP World Holdings, Inc.?
The SIC code for EXP World Holdings, Inc. is 6531, categorized under Real Estate Agents & Managers (For Others).
What financial statement items are specifically mentioned as of June 30, 2024?
The filing mentions us-gaap:TreasuryStockCommonMember, us-gaap:RetainedEarningsMember, us-gaap:CommonStockMember, us-gaap:AdditionalPaidInCapitalMember, and us-gaap:AccumulatedOtherComprehensiveIncomeMember as of June 30, 2024.
Filing Stats: 4,389 words · 18 min read · ~15 pages · Grade level 16 · Accepted 2024-07-31 16:00:29
Key Financial Figures
- $0.00001 — ge on which registered) Common Stock, $0.00001 par value per share EXPI The Nasdaq
Filing Documents
- expi-20240630x10q.htm (10-Q) — 1746KB
- expi-20240630xex10d2.htm (EX-10.2) — 83KB
- expi-20240630xex31d1.htm (EX-31.1) — 17KB
- expi-20240630xex31d2.htm (EX-31.2) — 17KB
- expi-20240630xex32d1.htm (EX-32.1) — 11KB
- expi-20240630xex32d2.htm (EX-32.2) — 11KB
- expi-20240630x10q001.jpg (GRAPHIC) — 8KB
- 0001558370-24-010473.txt ( ) — 6603KB
- expi-20240630.xsd (EX-101.SCH) — 39KB
- expi-20240630_cal.xml (EX-101.CAL) — 64KB
- expi-20240630_def.xml (EX-101.DEF) — 116KB
- expi-20240630_lab.xml (EX-101.LAB) — 345KB
- expi-20240630_pre.xml (EX-101.PRE) — 252KB
- expi-20240630x10q_htm.xml (XML) — 1100KB
Forward Looking Statements
Forward Looking Statements 3 PART I FINANCIAL INFORMATION Item 1.
Financial Statements (Unaudited)
Financial Statements (Unaudited) 4 Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 18 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 31 Item 4.
Controls and Procedures
Controls and Procedures 31 PART II OTHER INFORMATION Item 1.
Legal Proceedings
Legal Proceedings 31 Item 1A.
Risk Factors
Risk Factors 31 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 33 Item 3. Defaults Upon Senior Securities 34 Item 4. Mine Safety Disclosures 34 Item 5. Other Information 34 Item 6. Exhibits 35 2 Table of Contents CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS This Quarterly Report on Form 10-Q (this "Quarterly Report") contains statements that are not historical fact and may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not based on historical facts but rather represent current expectations and assumptions of future events. These statements involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Many of these risks and other factors are beyond our ability to control or predict. Forward-looking statements can be identified by words such as "believe," "expect," "anticipate," "estimate," "project," "plan," "should," "intend," "may," "will," "could," "can," "would," "potential," "seek," "goal" and similar expressions of the future. These risks and uncertainties, as well as other risks and uncertainties that could cause our actual results to differ significantly from management's expectations, including, but not limited to: the impact of macroeconomic conditions on the strength of the residential real estate market; the impact of monetary policies of the U.S. federal government and its agencies on our operations; the impact of changes in consumer attitudes on home sale transaction volume; the impact of excessive or insufficient home inventory supply on home sale transaction value; our ability to effectively manage rapid growth in our business; our ability to attract and retain additiona
FINANCIAL STATEMENTS (UNAUDITED)
Item 1. FINANCIAL STATEMENTS (UNAUDITED) EXP WORLD HOLDINGS, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands, except share amounts) (UNAUDITED) June 30, 2024 December 31, 2023 ASSETS CURRENT ASSETS Cash and cash equivalents $ 108,395 $ 125,873 Restricted cash 85,126 44,020 Accounts receivable, net of allowance for credit losses of $ 1,527 and $ 2,204 , respectively 133,896 85,343 Prepaids and other assets 7,082 9,275 Current assets of discontinued operations 1,068 1,964 TOTAL CURRENT ASSETS 335,567 266,475 Property, plant, and equipment, net 11,789 12,967 Other noncurrent assets 10,815 7,410 Intangible assets, net 5,965 7,012 Deferred tax assets 66,916 69,253 Goodwill 19,673 16,982 Noncurrent assets of discontinued operations 6,706 5,569 TOTAL ASSETS $ 457,431 $ 385,668 LIABILITIES AND EQUITY CURRENT LIABILITIES Accounts payable $ 11,529 $ 8,788 Customer deposits 86,496 44,550 Accrued expenses 122,497 86,483 Litigation contingency 16,000 - Other liabilities 23 10 Current liabilities of discontinued operations 560 1,809 TOTAL CURRENT LIABILITIES 237,105 141,640 Long-term payable - 20 TOTAL LIABILITIES 237,105 141,660 EQUITY Common Stock, $ 0.00001 par value 900,000,000 shares authorized; 189,947,235 issued and 153,733,373 outstanding at June 30, 2024; 183,606,708 issued and 154,669,037 outstanding at December 31, 2023 2 2 Additional paid-in capital 883,704 804,833 Treasury stock, at cost: 36,213,862 and 28,937,671 shares held, respectively ( 626,825 ) ( 545,559 ) Accumulated deficit ( 35,100 ) ( 16,769 ) Accumulated other comprehensive (loss) income ( 1,455 ) 332 Total eXp World Holdings, Inc. stockholders' equity 220,326 242,839 Equity attributable to noncontrolling interest - 1,169 TOTAL EQUITY 220,326 244,008 TOTAL LIABILITIES AND EQUITY $ 457,431 $ 3