- eXp World Holdings ( NASDAQ: EXPI ) posted a Q4 loss per share as higher mortgage rates continued to limit demand for real estate. The company's Q4 real estate transaction volume fell 16% Y/Y to $37.6B.
- Q4 GAAP EPS of -$0.05 , trailing break-even consensus, compared with $0.03 in the prior quarter and $0.10 in the year-ago quarter.
- Revenue of $933.4M, missing the $1.06B average analyst estimate, declined from $1.24B in the prior quarter and from $1.08B in the year-ago quarter.
- Q4 total operating expenses of $944.1M declined from $1.24B in Q3 and from $1.08B in Q4 2021.
- Q4 adjusted EBITDA of $3.58M dropped from $12.3M in Q3 and from $13.1M in Q4 2021.
- As of Dec. 31, 2022, eXp ( EXPI ) had cash and cash equivalents totaling $121.6M compared with $134.5M at Sept. 30, 2022.
- Conference call at 5:00 PM ET.
- Earlier, eXp World ( EXPI ) GAAP EPS of -$0.05 misses by $0.05, revenue of $933.3M misses by $126.7M
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eXp World turns in Q4 as high interest rate environment weighs on business