eXp remains focused on the growth of its agent quality and international expansion as it positions itself for continued success, according to the company’s latest earnings report.
The company saw a Q3 net income of $3.5 million and a revenue of $1.3 billion—the same amount seen in Q2 and up from $1.2 billion last year. Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) came in at $17.7 million, down from $23.9 million last year.
The company saw 121,516 transactions in Q3, up 3% year-over-year, with sales volume growing 7% year-over-year to $54.1 billion.
During eXp’s Q3 fireside chat, Chief Financial Officer Jesse Hill attributed this quarter’s success to the “strong foundation” laid by the company’s actions in the first half of 2025.
“We focused on improving operational efficiency through back office automation and technology investments while leveraging AI to stream our high-volume workflows,” he said. “Together, these initiatives have strengthened our platform, improved productivity and positioned us to deliver profitable growth as the real estate industry continues to evolve.”
As Founder, Chairman and CEO Glenn Sandford said during the call, “This quarter has been about simplifying, strengthening and scaling across every part of the organization.” He noted several changes across the company, such as a replatforming of Success.com, growth in the eXp Connect Hub and a focus on AI and simplifying/streamlining operations.
The company has been hyper-focused on growth and expansion—as stated by eXp International Managing Director Felix Bravo during the call—touching down in South Korea and Japan in Q3 after reaching Peru in Q1 and Ecuador and Turkey in Q2.
Bravo attributed eXp’s global growth to the firm’s launchbook for international expansion, designed to streamline the process for establishing a presence in new countries.
“This is a testament to our new-country launch playbook and how we are learning to open up countries more efficiently—open quicker, ramp up our agent count and transaction count faster, but more importantly, how we’re attracting the right kind of agent, the productive agent looking to build their business both locally or even at a global level,” he said.
Bravo also announced that eXp is set to begin operating in Luxembourg, the Netherlands and Romania in Q4.
Despite positive earnings, eXp did see a 2% year-over-year decrease in agent/broker count, now at 83,446. In Q2, the company saw a 5% year-over-year decrease.
Agents and brokers on the eXp Realty platform decreased 2% to 83,446 as of Sept. 30, 2025.
eXp Realty CEO Leo Pareja isn’t concerned about agent/broker loss, however, as the company focuses on quality above quantity.
“We believe the agent is the brand on the ground,” he said. “And I think we continue to refine who the agent we serve is—and I always like to say we’re the home of that entrepreneurial agent, whether that is a solo producer or whether that is a team leader who wants to build a scaled enterprise.”
Pareja noted that in terms of teams, eXp is “disproportionately winning.”
“I would say we are the home of the super team, and it comes from many things that have been very intentional,” he said. “It starts with creating an ecosystem and a collaborative culture, which is literally impossible to replicate at scale in a single company. And I think that’s what continues to be the biggest attraction for those hyper-productive teams.”
Looking ahead, Sandford said that eXp has positioned itself “for the future of real estate.”
“Everything that’s being built now is all leaning into this fully platform environment. And then you look at the scale of those platforms, and we are one of four or five platforms that will fully scale out over time to capture a pretty good portion of the organized real estate business,” he said. “We’re super well-positioned to take advantage of the new changes that are happening in the industry at large.”
