eXp World Holdings, Inc.

For the period ended Dec 31, 2025. Filed Feb 24, 2026.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2025 · Filed Feb 24, 2026

AGNT$2.90-10.0%Stored close · as of Nov 10, 2026

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Contents

Item 8. Consolidated Statements of Cash Flows

CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands)


· · Year Ended December 31,
	2025	2024	2023
OPERATING ACTIVITIES
Net income (loss)	($ 22,714)	($ 21,267)	($ 8,973)
Reconciliation of net income (loss) to net cash provided by operating activities:
Depreciation expense	6,870	7,835	8,352
Amortization expense - intangible assets	2,692	2,454	2,540
Impairment expense	-	4,930	9,203
Loss on disposition of business	-	266	472
Allowance for credit losses on receivables/bad debt on receivables	1,101	(615)	(1,711)
Equity in loss of unconsolidated affiliates	281	1,168	1,388
Agent growth incentive stock-based compensation expense	38,364	37,265	43,178
Stock option compensation	6,466	7,975	10,736
Agent equity stock-based compensation expense	98,149	111,278	135,226
Deferred income taxes, net	(1,736)	(6,521)	(2,666)
Changes in operating assets and liabilities:
Accounts receivable	(21,098)	(1,704)	3,474
Prepaids and other assets	(2,875)	3,041	(1,263)
Customer deposits	1,544	11,110	6,761
Accounts payable	4,135	1,690	(1,491)
Accrued expenses	21,810	(1,445)	8,424
Long term payable	-	-	(4,677)
Litigation contingency	(17,000)	34,000	-
Other operating activities	2,622	54	158
NET CASH PROVIDED BY OPERATING ACTIVITIES	118,611	191,514	209,131
INVESTING ACTIVITIES
Purchases of property and equipment	(9,569)	(6,483)	(5,363)
Purchase of business	-	(6,150)	-
Proceeds from sale of business	-	-	330
Investments in unconsolidated affiliates	(13,246)	(5,447)	(5,876)
Capitalized software development costs in intangible assets	(657)	(1,390)	(2,594)
NET CASH USED IN INVESTING ACTIVITIES	(23,472)	(19,470)	(13,503)
FINANCING ACTIVITIES
Repurchase of common stock	(56,199)	(141,121)	(160,550)
Proceeds from exercise of options	434	2,012	4,980
Transactions with noncontrolling interests	-	(1,169)	-
Dividends declared and paid	(30,773)	(30,099)	(28,519)
NET CASH USED IN FINANCING ACTIVITIES	(86,538)	(170,377)	(184,089)
Effect of changes in exchange rates on cash, cash equivalents and restricted cash	4,274	(2,972)	(38)
Net change in cash, cash equivalents and restricted cash	12,875	(1,305)	11,501
Cash, cash equivalents and restricted cash, beginning balance	168,588	169,893	159,383
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, ENDING BALANCE	$ 181,463	$ 168,588	$ 170,884
SUPPLEMENTAL DISCLOSURE OF CASH FLOWS INFORMATION:
Cash paid for income taxes	4,597	2,694	2,731
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:
Termination of lease obligation - operating lease	-	-	859
Contingent consideration for disposition of business	-	-	1,209
Property, plant and equipment increase due to transfer of right-of-use lease asset	-	-	1,100
Property and equipment purchases in accounts payable	-	-	63

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