eXp World Holdings, Inc. (OTCQB: EXPI), holding company for the Agent-Owned Cloud Brokerage®, this morning reported its financial results for the fourth quarter and full year ended December 31, 2016. Among the highlights, the company recorded a 137 percent year-over-year increase in revenues for the 12-month period, as well as a 397 percent increase in adjusted EBITDA to $1.6 million. EXPI found similar success in promoting the growth of eXp Realty, achieving a 178 percent increase in the number of agent and brokers on the platform during 2016. On March 15, 2017, eXp Realty’s total number of agents and brokers surpassed 3,000. “2016 established us as one of the largest and fastest growing brokerages in North America as we nearly tripled in size over the past year,” Glenn Sanford, founder, CEO and chairman of EXPI, stated in the news release. “Our strong revenue and adjusted EBITDA growth in 2016 showcases the leverage in our model, which we expect to continue to be evident as we execute on our overall strategy.”
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About eXp World Holdings, Inc.
eXp World Holdings, Inc. (OTCQB: EXPI) is the holding company for eXp Realty LLC, the Agent-Owned Cloud Brokerage®. As a full-service real estate brokerage, eXp Realty provides 24/7 access to collaborative tools, training, and socialization for real estate brokers and agents through its 3-D, fully-immersive, cloud office environment. eXp Realty, LLC and eXp Realty of Canada, Inc. also feature an attractive revenue sharing program that pays agents a percentage of gross commission income earned by fellow real estate professionals who they attract into the Company. For more information, please visit the Company’s Twitter, LinkedIn, Facebook, YouTube, or visit www.eXpRealty.com.
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