eXp World Holdings, Inc. (EXPI) Q4 2025 Earnings Call Transcript

Denise Garcia

[Audio Gap] Please see our filings with the SEC, including our most recently filed annual report on Form 10-K, and quarterly reports on Form 10-Q for a discussion of specific risks that may affect our business performance and financial condition. We assume no obligation to update or revise any forward-looking statements or information. As a reminder, today’s call is being recorded, and a replay will also be made available on expworldholdings.com.

Now for a few logistics and we’ll get started. For those of you joining in Frame today, welcome to our Metaverse on the web. To zoom into a specific screen, you can click on that screen and then click zoom in. If the content on the screen disappears or if you lose audio, simply refresh the page. While in Frame, if you need help, just use the help button at the bottom right to link with tech support. [Operator Instructions]

Now I’ll turn the fireside chat over to our speakers before opening up the call to questions. Leo, you may begin.

Leo Pareja
Chief Executive Officer

Thanks, Denise. We’ve always been focused on driving eXp across every area of our business, and 2025 has been no different. This year, we expanded into 7 countries, increasing our international revenue 67% year-over-year to $147 million as our technology-driven model continues to disrupt the real estate industry and resonate with agents around the world. We’re constantly improving and iterating on our value stack, and we’ve launched 4