Page 1

WORLD HOLDINGS , INC . exp eXp World Holdings Reports Record Second Quarter 2021 Revenue of $ 1 Billion and Declares First Cash Dividend Exhibit 99.1 Q2 2021 Revenue Increased 183 % Year - over - Year to Reach New All - Time High , Driven by Agent Growth of 87 % Company Declares Cash Dividend for Q3 2021 of $ 0.04 per Share of Common Stock BELLINGHAM , Wash . Aug. 4 , 2021 - eXp World Holdings , Inc. ( Nasdaq : EXPI ) , ( or the " Company " ) , the holding company for eXp Realty , Virbela , Showcase IDX and SUCCESS® Enterprises , today announced financial results for the second quarter ended June 30 , 2021 and declared its first cash dividend for Q3 2021 . – Second Quarter 2021 Financial Highlights as Compared to the Same Year - ago Quarter : Revenue increased 183 % to a record $ 1 billion . Gross profit increased 133 % to $ 79.9 million . Net income increased 350 % to $ 37.0 million , which included $ 20.6 million income tax provision benefit . Earnings per diluted share increased 300 % to $ 0.24 . Adjusted EBITDA ( a non - GAAP financial measure ) increased 98 % to $ 27.0 million . Operating cash flow increased 210 % to $ 88.5 million . As of June 30 , 2021 , cash and cash equivalents totaled $ 107.4 million , compared to $ 63.6 million as of June 30 , 2020. The Company repurchased approximately $ 54.9 million of common stock during the second quarter of 2021 . The Company declared a cash dividend for the third quarter of 2021 of $ 0.04 per share on the company's common stock . The dividend is expected to be paid on Aug. 30 , 2021 to shareholders of record on Aug. 16 , 2021 . Management Commentary " This quarter reflects that by iterating and improving the overall value proposition for real estate professionals , we continue to attract top agents and brokers to the eXp platform and expand into new countries around the world at an accelerated pace , " said Glenn Sanford , Founder , Chairman and CEO of eXp World Holdings . " By extension our substantial growth in agent count translated to exponential growth in transaction sides and volume closed . We are also continuing to focus on creating a quality community for highly - productive individuals and teams both online and in real life events around the world . It is gratifying to see eXp's brokerage model support the careers of so many and is highly rewarding for me personally as well as our overall management team . Our decision as a board to