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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