XML 142 R17.htm IDEA: XBRL DOCUMENT
v3.25.4

SEGMENT INFORMATION | 12 Months Ended
--- | ---
Dec. 31, 2025
SEGMENT INFORMATION |
SEGMENT INFORMATION |
10. | SEGMENT INFORMATION
Segment information aligns with how the Chief Operating Decision Maker (“CODM”), Glenn Sanford, Chief Executive Officer of eXp World Holdings, Inc., manages the business and allocates resources as three operating segments. The Company determines an operating segment if a component (i) engages in business activities from which it earns revenues and incurs expenses, (ii) has discrete financial information, and is (iii) regularly reviewed by the CODM. Once operating segments are identified, the Company performs a quantitative analysis of the current and historic revenues and profitability for each operating segment, together with a qualitative assessment to determine if operating segments have similar operating characteristics. The Company has three operating segments and three reportable segments. The CODM uses revenues, segment adjusted EBITDA, and operating income (loss) as key metrics to evaluate the operating and financial performance of a segment, identify trends affecting the segments, develop projections and make strategic business decisions. The CODM also regularly reviews commissions and other agent-related costs to assess segment performance. Commissions and other agent-related costs include sales commissions, revenue share and stock-based compensation paid to the Company’s agents. segment adjusted EBITDA for the reportable segments is defined as net income before depreciation and amortization, interest expense, income taxes, stock compensation expense, stock option expense, and other items that are not core to the operating activities of the Company. The Company’s three reportable segments are as follows:
| ● | North American Realty: includes real estate brokerage operations in the United States and Canada, as well as lead-generation and other real estate support services provided in North America.
| ● | International Realty: includes real estate brokerage operations in all other international locations.
| ● | Other Affiliated Services: includes SUCCESS® Magazine and other ancillary ventures.
The Company also reports corporate expenses, as further detailed below, as “Corporate expenses and other” which include expenses incurred in connection with business development support provided to the agents as well as resources, including administrative, brokerage operations and legal functions. All segments follow the same basis of presentation and accounting policies as those described in Note 2 – Summary of Significant Accounting Policies. The following table provides information about the Company’s reportable segments and a reconciliation of the total segment Revenues to consolidated Revenues. Financial information for the comparable prior periods presented have been revised to conform with the current year presentation. ​
​ | ​ | ​ | ​ | ​ | ​
​ | Revenues
​ | Year Ended December 31,
​ | 2025 | ​ | 2024 | ​ | 2023
North American Realty | $ 4,624,913 | ​ | $ 4,478,293 | ​ | $ 4,220,063
International Realty | 146,930 | ​ | 88,146 | ​ | 53,931
Other Affiliated Services | 2,873 | ​ | 6,105 | ​ | 4,802
Commissions reconciliation: | ​ | ​ | ​ | ​ | ​
Segment eliminations | (2,405) | ​ | (4,872) | ​ | (4,975)
Consolidated revenues | $ 4,772,311 | ​ | $ 4,567,672 | ​ | $ 4,273,821
​
​ | ​ | ​ | ​ | ​ | ​
​ | Commissions and other agent-related costs
​ | Year Ended December 31,
​ | 2025 | ​ | 2024 | ​ | 2023
North American Realty | $ 4,315,316 | ​ | $ 4,153,113 | ​ | $ 3,910,851
International Realty | 122,061 | ​ | 71,657 | ​ | 43,103
Other Affiliated Services | 1,356 | ​ | 2,742 | ​ | 2,448
Commissions reconciliation: | ​ | ​ | ​ | ​ | ​
Segment eliminations | - | ​ | (2,235) | ​ | (2,505)
Consolidated commissions and other agent-related costs | $ 4,438,733 | ​ | $ 4,225,277 | ​ | $ 3,953,897
​ ​
​ | ​ | ​ | ​ | ​ | ​
​ | Adjusted EBITDA
​ | Year Ended December 31,
​ | 2025 | ​ | 2024 | ​ | 2023
North American Realty | $ 59,753 | ​ | $ 99,253 | ​ | $ 91,101
International Realty | (9,933) | ​ | (9,481) | ​ | (13,657)
Other Affiliated Services | (5,804) | ​ | (4,876) | ​ | (3,795)
Corporate expenses and other | (10,844) | ​ | (9,413) | ​ | (8,321)
Consolidated adjusted EBITDA | $ 33,172 | ​ | $ 75,483 | ​ | $ 65,328
​ | ​ | ​ | ​ | ​ | ​
Income (loss) before income tax expense reconciliation: | ​ | ​ | ​ | ​ | ​
Depreciation and amortization expense | 9,562 | ​ | 10,289 | ​ | 10,892
Impairment expense | - | ​ | 4,930 | ​ | -
Litigation contingency | - | ​ | 34,000 | ​ | -
Stock-based compensation expense | 38,610 | ​ | 37,285 | ​ | 43,178
Stock option expense | 6,466 | ​ | 7,973 | ​ | 10,736
Other (income) expense, net | (1,232) | ​ | (3,277) | ​ | (2,995)
Consolidated income (loss) before income tax expense | ($ 20,234) | ​ | ($ 15,717) | ​ | $ 3,517
​
​ | ​ | ​ | ​ | ​ | ​
​ | Operating Income (Loss)
​ | Year Ended December 31,
​ | 2025 | ​ | 2024 | ​ | 2023
North American Realty | $ 9,322 | ​ | $ 16,468 | ​ | $ 33,388
International Realty | (11,674) | ​ | (10,492) | ​ | (14,248)
Other Affiliated Services | (6,153) | ​ | (11,615) | ​ | (4,590)
Segment Operating Income (Loss) | (8,505) | ​ | (5,639) | ​ | 14,550
Corporate expenses and other | (12,961) | ​ | (13,355) | ​ | (14,028)
Consolidated Operating Income (Loss) | (21,466) | ​ | (18,994) | ​ | 522
​
​ | ​ | ​ | ​
​ | Goodwill
​ | December 31, 2025 | ​ | December 31, 2024
North American Realty | $ 17,872 | ​ | $ 17,226
International Realty | - | ​ | -
Other Affiliated Services | - | ​ | -
Segment and consolidated total | 17,872 | ​ | 17,226
​ Geographical information For the years ended December 31, 2025, 2024 and 2023 approximately 13%, 11% and 9%, respectively, of the Company’s total revenue was generated outside of the U.S. Long-lived assets held outside of the U.S. were 10% and 17% as of December 31, 2025 and 2024, respectively. The Company’s CODM does not use segment assets to allocate resources or to assess the performance of the segments and therefore, total segment assets have not been disclosed.

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-31 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-15 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-42 Reference 7: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 48 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-48 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 270 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (i) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482964/270-10-50-1 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (ee) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 11: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 12: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 13: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 14: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 15: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 16: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 17: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 18: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 19: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-34 Reference 20: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26C -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26C Reference 21: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26B -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26B Reference 22: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-40 Reference 23: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/280/tableOfContent Reference 24: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26 Reference 25: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-41 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration