The Company also increased its agent ranks by nearly fifty percent (50%) in 2014.
“We’re very pleased to be able to report a profit and significant growth in 2014, particularly given the degree to which we have continually reinvested in the Company over the years, and in the infrastructure and systems needed to support and sustain scalable growth,” said CEO and Founder, Glenn Sanford. “We look forward to continuing to provide eXp Realty agents the opportunity to build teams within and across markets, participate in revenue sharing, and establish an increasing ownership stake in our publicly-traded company while making available to them the technology, systems, tools and professional development offerings needed to build long-lasting and thriving businesses within this evolving industry. 2013 was a transition year for us as we transitioned from being a private company and completing a merger transaction into a public company in October 2013. By contrast, 2014 was the first full year where our revenues and expenses were normalized into the public company and as a result we believe 2014 will be an appropriate year with which to measure future revenue and net income changes.”
The above stats are excerpts from the 10-K Annual Report the company filed with the SEC on March 31, 2015 as well as previously filed quarterly reports. You can access the Annual Report in its entirety by visiting http://investors.exprealty.com/ or by accessing it via the SEC website at:https://www.sec.gov/Archives/edgar/data/1495932/000101968715001215/exp_10k-123114.htm
About eXp World Holdings, Inc.
eXp World Holdings, Inc. is the holding company for a number of companies most notably eXp Realty LLC, the Agent-Owned Cloud Brokerage™ as a full-service real estate brokerage providing 24/7 access to collaborative tools, training, and socialization for real estate brokers and agents through its 3-D, fully-immersive, cloud office environment. eXp Realty, LLC and eXp Realty of Canada, Inc. also feature an aggressive revenue sharing program that pays agents a percentage of gross commission income earned by fellow real estate professionals who they attract into the Company.
eXp World Holdings, Inc. also owns 90.5% of First Cloud Mortgage, Inc. a Delaware corporation launched in 2015 and now licensed to originate mortgages in Arizona, California, New Mexico and Texas.
The corporate name change to "eXp World Holdings, Inc." has been approved by our Board and stockholders but is not yet effective, pending the mailing of a definitive information statement to our stockholders in accordance with applicable rules and a 20-day notice period thereafter.
As a publicly-traded company, eXp World Holdings, Inc. uniquely offers professionals within its ranks opportunities to earn equity awards for production and contributions to overall company growth.
The statements contained herein may include statements of future expectations and other forward-looking statements that are based on management's current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Such forward-looking statements speak only as of the date hereof, and the Company undertakes no obligation to revise or update them. These statements include, but are not limited to, statements about the Company's expansion, revenue growth, operating results, financial performance and net income changes. Such statements are not guarantees of future performance. Important factors that may cause actual results to differ materially and adversely from those expressed in forward-looking statements include changes in business or other market conditions; the difficulty of keeping expense growth at modest levels while increasing revenues; and other risks detailed from time to time in the Company's Securities and Exchange Commission filings, including but not limited to the most recently filed Annual Report on Form 10-K.