eXp World Holdings, Inc. (NASDAQ: EXPI)

eXp World Holdings, Inc. operates a diversified portfolio of service-oriented businesses, primarily focused on real estate brokerage operations. The company leverages an advanced technology platform to enable collaboration and operational efficiency across its ecosystem. Its strategic focus is on expanding its real estate brokerage services, offering a differentiated value proposition to agents through industry-leading economics, ownership opportunities, and access to tools that support long-term professional growth. The company also invests in technology, education, and affiliated services to provide a scalable platform for real estate professionals to grow their businesses.

Revenue is generated primarily through commissions on residential and commercial real estate transactions. The company's primary products include its cloud-based brokerage model, which features low entry fees, stock ownership opportunities for agents, and a revenue-sharing plan. Additional offerings include specialized divisions such as the Land and Ranch Division, Sports and Entertainment Division, and the Co-Sponsor Program. The company also provides tools like the CRM of Choice initiative and the LYVVE global property search platform. The general customer base consists of residential homeowners and homebuyers served through a network of independent agents and brokers.

• North American Realty: This segment includes residential and commercial brokerage, lead generation, and related support services in the United States and Canada. It also encompasses FrameVR.io, a proprietary web-accessible 3D immersive technology platform for agent collaboration, training, and community engagement. This segment caters to the North American market and represented 96.9% of total consolidated revenues in 2025

• International Realty: This segment includes brokerage operations and support services across 27 countries throughout the Americas, Europe, the Middle East, Asia-Pacific, and South Africa. It generates revenue primarily from commissions on residential real estate transactions and represented 3.1% of total consolidated revenues in 2025

• Other Affiliated Services: This segment includes SUCCESS magazine and related media properties, which provide training, classes, resources, and tools to empower agents, brokers, staff, and general customers in their professional development. Prior to the first quarter of 2025, this segment also included FrameVR.io, which has since been reclassified

eXp World Holdings, Inc. positions itself as the only global cloud-based real estate brokerage with massive scale. This operational structure allows the company to enter new markets quickly and flexibly, reducing the investment and cost associated with traditional brokerages. The company's compensation and incentive programs are designed to attract and retain highly productive agents, providing a competitive edge in the industry. Additionally, the company's commitment to cooperation, transparency, and consumer-centric practices differentiates it from competitors.

The company's clients are primarily residential homeowners and homebuyers served through its network of independent agents and brokers. The North American Realty segment operates across all 50 U.S. states and all Canadian provinces, while the International Realty segment operates in 27 countries. The Other Affiliated Services segment supports agents, brokers, and customers through SUCCESS media properties, offering professional development tools and resources