- eXp recently released its Q3 results. While the business reported good agent growth and record revenue, gross margin was down significantly which led to a QoQ decline in gross profit.
- This drop in gross margin was due to higher home prices and increased transactions which resulted in agents reaching their commission capping requirements sooner.
- While this is something to keep an eye on going forward, one quarter rarely changes an investment thesis.
- In this article, I will try to keep the big picture in mind when examining the quarter and the future of the business.
For further details see:
eXp World Holdings Q3 2021 Update: Keep The Big Picture In Mind