eXp World Holdings gained market share in Q4 2023 despite a tough real estate market, maintaining positive Adjusted EBITDA. The company strategized to boost profitability, expecting benefits to 2024's revenue and operating expenses. It plans to fund agent productivity investments through efficiency initiatives, aiming to emerge strong from the market downturn to seize future growth opportunities.

Despite high levels of insider ownership at eXp World Holdings, the selling activity over the past year could be a potential red flag for investors.

EXPI was listed as a US cloud-based residential real estate brokerage. But its revenue and earnings are currently driven by its realtor business. This has experienced significant growth in the number of agents and revenue in the past five years, but signs of slowing growth are emerging.
This maturing realty business and its strong cash flow will enable the company to pursue its technology platform goal.
The market seems to be ascribing val...