eXp World Holdings, Inc. (EXPI) Subject of Updated Research Report by Fundamental Research Corp.
Yesterday, Fundamental Research Corp., an independent research firm specializing in the small-cap and microcap sectors, announced the release of an updated analysis on eXp World Holdings, Inc. (OTCQB: EXPI). The new analysis, which includes upward revisions from Fundamental Research Corp.’s original report released in April of this year, highlights EXPI’s strong fiscal performance in the second quarter of 2016, healthy balance sheet and recent independent additions to its board of directors as reasons prospective investors may want to take a second look at the company.
“We are raising our revenue forecast for 2016 from $40.50 million to $48.94 million, and for 2017 from $72.00 million to $82.50 million,” reads the Fundamental Research Corp. report. “We are also raising our long-term forecasts. In our previous models, we had assumed growth to 10,000 members by 2020. We are now extending our models based on the assumption that membership will increase to 15,000 by 2022.”
To view the full report, visit http://nnw.fm/QC5eP
Taking a quick look at EXPI’s progress toward expanding its presence in the North American real estate market in recent months, Fundamental Research Corp.’s decision to revise its previous growth forecasts comes as no surprise. Since the original report in April, EXPI has successfully commenced real estate brokerage operations in seven new states and the District of Columbia. In total, the company’s Agent-Owned Cloud Brokerage® is currently operational in 41 states; Alberta, Canada; and Washington, D.C. Alongside its entry into new jurisdictions, eXp Realty, the real estate brokerage division of EXPI, has had tremendous success in recruiting real estate professionals to its growing family of agents and brokers. In a news release from earlier this month, the company reported more than 1,580 agents across all of its markets, up from just 864 at the beginning of 2016.
The rapid growth of its real estate brokerage division has also spurred strong fiscal results for EXPI in recent months. On August 15, the company released its second quarter results, which included revenues of more than $13.2 million, a year-over-year increase of 137 percent. This coincided with a 111 percent year-over-year increase to eXp Realty’s agent count. EXPI’s cash position was also strengthened during the second quarter, with cash and cash equivalents up 207 percent from June 2015. Glenn Sanford, chairman and chief executive officer of EXPI, summed up these results in a recent news release.
“eXp Realty continues to experience accelerated growth in agent count and in revenues as a result of our commitment to agent ownership, agent support, and agent engagement,” he stated.
For more information, visit the company’s website at www.eXpWorldHoldings.com
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