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eXp World Holdings, Inc. (NASDAQ:EXPI), a global real estate services company with $4.57 billion in annual revenue and a market capitalization of $1.39 billion, reported the results of its annual stockholders’ meeting held on April 25, 2025. According to InvestingPro analysis, the company currently trades below its Fair Value, with management actively buying back shares to enhance shareholder returns. The meeting addressed the election of directors, ratification of the company’s independent auditor, advisory approval of executive compensation, and frequency of future say-on-pay votes.
Stockholders elected six directors to serve on the board until the 2026 annual meeting. The directors elected were Glenn Sanford, Randall Miles, Dan Cahir, Monica Weakley, Peggie Pelosi, and Fred Reichheld. The votes cast for each director ranged from approximately 91.8 million to 101.3 million, with broker non-votes totaling around 27.9 million for each nominee. The board oversees a company that maintains strong liquidity, with cash reserves exceeding debt obligations, though operating with relatively thin gross profit margins of 7.5%.
Additionally, stockholders ratified the appointment of Deloitte & Touche LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2025, with over 129 million votes in favor.
On the advisory approval of 2024 named executive officer compensation, the proposal received over 101 million votes for approval, with approximately 480,000 votes against and 86,000 abstentions.
The stockholders also approved, on an advisory basis, the frequency of future say-on-pay votes, with a majority favoring an annual vote. The option for a one-year frequency received over 61 million votes, while the three-year option received over 40 million votes, and the two-year option received 64,000 votes. There were approximately 29,000 abstentions on this proposal.
Consistent with the board’s recommendation and company past practice, eXp World Holdings will continue to hold an advisory say-on-pay vote annually. The information reported is based on the company’s recent SEC filing. Investors looking for deeper insights can access comprehensive analysis and 18 additional ProTips through InvestingPro, with the next earnings announcement scheduled for May 6, 2025.
In other recent news, eXp World Holdings reported a 12% increase in fourth-quarter revenue, surpassing consensus estimates by 6%, and achieved an adjusted EBITDA of $7.7 million, contrary to the anticipated $2 million loss. This financial performance led DA Davidson to maintain a Neutral rating on the company with a price target of $13.50. Additionally, eXp World Holdings has amended its share repurchase plan, extending the terms through December 31, 2025, though specific changes to the repurchase amounts were not disclosed. The company also announced the resignation of its Chief Accounting Officer, Jian (Kent) Cheng, effective March 31, 2025, with a transition plan in place as they search for a new CFO.
eXp Realty, a subsidiary of eXp World Holdings, introduced a Co-Sponsor Program to enhance agent growth, allowing new agents to benefit from the expertise of two leaders. In a strategic move, eXp Realty added HGTV star Kortney Wilson to its roster, aiming to leverage her expertise in home renovation and design. The company continues to face challenges with agent retention, having lost 2,269 agents in the fourth quarter, primarily due to a decrease in domestic agents. Despite these developments, eXp World Holdings remains focused on its innovative strategies and global expansion efforts.
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