$AGNT

EXP Realty International Corp

CIK:0001495932|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
Revenues	$ 1,449,548	$ 1,308,877	$ 2,455,089	$ 2,263,783
Commissions and other agent-related costs	1,350,751	1,216,223	2,280,945	2,094,994
Gross profit	98,797	92,654	174,144	168,789
Operating expenses
General and administrative expenses	71,575	74,076	135,788	140,947
Technology and development expenses	18,425	18,093	36,020	34,898
Sales and marketing expenses	2,821	2,861	5,148	5,696
Litigation contingency	4,335		4,335
Total operating expenses	97,156	95,030	181,291	181,541
Operating income (loss)	1,641	(2,376)	(7,147)	(12,752)
Other (income) expense
Other (income) expense, net	(657)	(760)	(925)	(1,703)
Equity in (income) losses of unconsolidated affiliates	(8)	207	122	127
Other (income) expense, net	(665)	(553)	(803)	(1,576)
Income (loss) before income tax expense	2,306	(1,823)	(6,344)	(11,176)
Income tax (benefit) expense	4,999	468	1,447	2,139
Net income (loss)	$ (2,693)	$ (2,291)	$ (7,791)	$ (13,315)
Basic, net income (loss) (in dollars per share)	$ (0.02)	$ (0.01)	$ (0.05)	$ (0.09)
Diluted, net income (loss) (in dollars per share)	$ (0.02)	$ (0.01)	$ (0.05)	$ (0.09)
Weighted average shares outstanding - Basic	166,161,519	156,091,692	164,100,808	155,418,668
Weighted average shares outstanding - Diluted	166,161,519	156,091,692	164,100,808	155,418,668
Comprehensive income (loss):
Net income (loss)	$ (2,693)	$ (2,291)	$ (7,791)	$ (13,315)
Other comprehensive income (loss):
Foreign currency translation gain (loss), net of tax	(1,211)	2,739	(3,085)	3,052
Comprehensive income (loss)	$ (3,904)	$ 448	$ (10,876)	$ (10,263)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
OPERATING ACTIVITIES
Net income (loss)	$ (7,791)	$ (13,315)
Reconciliation of net income (loss) to net cash provided by operating activities:
Depreciation expense	3,322	3,532
Amortization expense - intangible assets	1,245	1,301
Loss on disposition of assets	4
Credit (benefit) losses on receivables/bad debt on receivables	(3)	682
Equity in loss of unconsolidated affiliates	192	127
Deferred income taxes, net	(1,093)	(1,783)
Changes in operating assets and liabilities:
Accounts receivable	(58,348)	(58,033)
Prepaids and other assets	3,406	(2,138)
Customer deposits	34,089	34,344
Accounts payable	(3,467)	808
Accrued expenses	37,956	58,694
Litigation contingency	(18,000)	(17,000)
Other operating activities	1,665	(40)
NET CASH PROVIDED BY OPERATING ACTIVITIES	59,339	75,926
INVESTING ACTIVITIES
Purchases of property and equipment	(4,921)	(5,351)
Acquisitions, net of cash acquired	(7,991)
Proceeds from sale of assets	1,497
Investments in unconsolidated affiliates	(16)	(11,673)
Capitalized software development costs in intangible assets	366	(183)
NET CASH USED IN INVESTING ACTIVITIES	(11,065)	(17,207)
FINANCING ACTIVITIES
Repurchase of common stock		(29,869)
Proceeds from exercise of options	26	376
Dividends declared and paid	(16,137)	(15,273)
NET CASH USED IN FINANCING ACTIVITIES	(16,111)	(44,766)
Effect of changes in exchange rates on cash, cash equivalents and restricted cash	(2,569)	2,393
Net change in cash, cash equivalents and restricted cash	29,594	16,346
Cash, cash equivalents and restricted cash, beginning balance	181,463	168,588
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, ENDING BALANCE	211,057	184,934
SUPPLEMENTAL DISCLOSURE OF CASH FLOWS INFORMATION:
Cash paid for income taxes	2,430	2,014
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING ACTIVITIES:
Property and equipment purchases in accounts payable	40	161
Agent Growth Incentive Program and Restricted Stock Units
Reconciliation of net income (loss) to net cash provided by operating activities:
Stock-based compensation	20,219	17,734
Other Incentive Programs
Reconciliation of net income (loss) to net cash provided by operating activities:
Stock-based compensation	3,232	3,454
Agent Equity Award Program
Reconciliation of net income (loss) to net cash provided by operating activities:
Stock-based compensation	$ 42,711	$ 47,559

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
CURRENT ASSETS
Cash and cash equivalents	$ 111,162	$ 124,245
Restricted cash	99,895	57,218
Accounts receivable, net of allowance for credit losses of $2,687 and $2,690, respectively	167,623	108,838
Prepaids and other assets	12,715	14,567
TOTAL CURRENT ASSETS	391,395	304,868
Property and equipment, net	14,412	14,314
Other noncurrent assets	23,155	23,495
Intangible assets, net	4,924	4,421
Deferred tax assets, net	78,367	77,510
Goodwill	26,917	17,872
TOTAL ASSETS	539,170	442,480
CURRENT LIABILITIES
Accounts payable	11,227	14,613
Customer deposits	91,293	57,204
Accrued expenses	148,122	108,208
Litigation contingency	3,335	17,000
Other current liabilities	4,341	2,676
TOTAL CURRENT LIABILITIES	258,318	199,701
TOTAL LIABILITIES	258,318	199,701
EQUITY
Common Stock, $0.00001 par value 900,000,000 shares authorized; 213,853,720 issued and 167,117,937 outstanding at June 30, 2026 and 207,785,762 issued and 161,049,979 outstanding at December 31, 2025	2	2
Additional paid-in capital	1,170,520	1,105,434
Treasury stock, at cost: 46,735,783 shares held at June 30, 2026 and December 31, 2025	(742,879)	(742,879)
Accumulated earnings (deficit)	(145,550)	(121,622)
Accumulated other comprehensive income (loss)	(1,241)	1,844
TOTAL EQUITY	280,852	242,779
TOTAL LIABILITIES AND EQUITY	$ 539,170	$ 442,480