eXp World Holdings Inc

For the period ended Dec 31, 2024. Filed Feb 20, 2025.

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.

FY2024 · Filed Feb 20, 2025

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,
	2024	2023	2022
OPERATING ACTIVITIES
Net income (loss)	($ 21,267)	($ 8,973)	$ 15,424
Reconciliation of net income (loss) to net cash provided by operating activities:
Depreciation expense	7,835	8,352	7,934
Amortization expense - intangible assets	2,454	2,540	1,904
Impairment expense	4,930	9,203	-
Loss on disposition of business	266	472	361
Allowance for credit losses on receivables/bad debt on receivables	(615)	(1,711)	1,816
Equity in loss of unconsolidated affiliates	1,168	1,388	1,624
Agent growth incentive stock compensation expense	37,265	43,178	30,861
Stock option compensation	7,975	10,736	14,442
Agent equity stock compensation expense	111,278	135,226	164,104
Deferred income taxes, net	(6,521)	(2,666)	(15,848)
Changes in operating assets and liabilities:
Accounts receivable	(1,704)	3,474	44,935
Prepaids and other assets	3,041	(1,263)	1,652
Customer deposits	11,110	6,761	(30,998)
Accounts payable	1,690	(1,491)	2,432
Accrued expenses	(1,445)	8,424	(32,239)
Long term payable	-	(4,677)	1,983
Litigation contingency	34,000	-	-
Other operating activities	54	158	148
NET CASH PROVIDED BY OPERATING ACTIVITIES	191,514	209,131	210,535
INVESTING ACTIVITIES
Purchases of property, plant, and equipment	(6,483)	(5,363)	(12,051)
Acquisition of business, net of cash acquired	(6,150)	-	(9,910)
Proceeds from sale of business	-	330	-
Investments in unconsolidated affiliates	(5,447)	(5,876)	(500)
Capitalized software development costs in intangible assets	(1,390)	(2,594)	-
NET CASH USED IN INVESTING ACTIVITIES	(19,470)	(13,503)	(22,461)
FINANCING ACTIVITIES
Repurchase of common stock	(141,121)	(160,550)	(179,473)
Proceeds from exercise of options	2,012	4,980	612
Transactions with noncontrolling interests	(1,169)	-	(424)
Dividends declared and paid	(30,099)	(28,519)	(25,229)
NET CASH USED IN FINANCING ACTIVITIES	(170,377)	(184,089)	(204,514)
Effect of changes in exchange rates on cash, cash equivalents and restricted cash	(2,972)	(38)	(87)
Net change in cash, cash equivalents and restricted cash	(1,305)	11,501	(16,527)
Cash, cash equivalents and restricted cash, beginning balance	169,893	159,383	175,910
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, ENDING BALANCE	$ 168,588	$ 170,884	$ 159,383
SUPPLEMENTAL DISCLOSURE OF CASH FLOWS INFORMATION:
Cash paid for income taxes	2,694	2,731	3,406
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:
Termination of lease obligation - operating lease	-	859	-
Issuance of treasury stock, for acquisition	-	-	4,554
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, plant and equipment purchases in accounts payable	-	63	63

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