Following the transaction, Sanford retains ownership of 40,289,080 shares of the company. Additionally, the filing noted a separate transfer of 30,000 shares, which were disposed of without a monetary transaction involved. InvestingPro analysis reveals the company's strong financial position with more cash than debt on its balance sheet, and an overall Financial Health score of FAIR. Get access to 15+ additional ProTips and comprehensive analysis through InvestingPro's detailed Research Report, available for over 1,400 US stocks including EXPI. InvestingPro analysis reveals the company's strong financial position with more cash than debt on its balance sheet, and an overall Financial Health score of FAIR. Get access to 15+ additional ProTips and comprehensive analysis through InvestingPro's detailed Research Report, available for over 1,400 US stocks including EXPI.
Following the transaction, Sanford retains ownership of 40,289,080 shares of the company. Additionally, the filing noted a separate transfer of 30,000 shares, which were disposed of without a monetary transaction involved.
In other recent news, eXp World Holdings (NASDAQ:EXPI) has been making strategic moves and reporting financial growth despite challenges. The company recently completed the sale of key assets from its Virbela software platform to Virbela LLC, a company owned by former executives. Alongside this, the Board of Directors approved an amendment to the company's stock repurchase plan, adjusting the monthly repurchase amounts through 2025.
In terms of financial performance, eXp World Holdings reported a slight growth in revenue to $1.231 billion in Q3 2024, a 2% year-over-year increase. The company's adjusted EBITDA also rose by 15%, reaching $23.9 million. Despite a challenging U.S. real estate market, the company saw a 63% growth in its international sector's revenue and plans to expand into Turkey, Peru, and Egypt in 2025.
However, the company faced a GAAP net loss of $8.5 million due to an $18 million contingency provision for an ongoing antitrust lawsuit. Furthermore, the company's agent count decreased by 4% due to strategic offboarding of unproductive agents. Despite these challenges, eXp World Holdings remains optimistic about future growth opportunities, launching homehunter.global and acquiring LUXVT to enhance its luxury market offerings.
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