Real Estate
Home›Real Estate›Industry›AGNT posts record quarter on rising agent productivity…
AGNT posts record quarter on rising agent productivity at eXp Realty
Second-quarter revenue rose to $1.4 billion, while real estate transactions climbed 12% to 132,497 as productivity per agent increased 6%.
AGNT Inc., formerly eXp World Holdings, reported record second-quarter revenue driven by higher agent productivity and increased transaction activity at its eXp Realty platform, HousingWire reports. The company said it also grew U.S. market share and highlighted continued investments in areas including AI, while expanding brokerage options.
AGNT reported $1.4 billion in second-quarter revenue, up 11% year over year. Real estate sales transactions rose 12% to 132,497, and sales volume increased 15% to $60.5 billion, reflecting stronger activity across its agent base.
Company executives said productivity per person increased 6% from a year earlier, and that incremental gains can translate into outsized brokerage results due to its scale. The firm also said it gained approximately 3% U.S. market share during the quarter relative to the broader residential real estate market.
On the financial side, adjusted EBITDA rose 129% to $25.7 million, cash and cash equivalents increased to $111.2 million, and operating expenses were up 2% year over year to $97.2 million, HousingWire reports. Despite the net loss of $2.7 million, the company maintained full-year financial guidance amid housing market uncertainty.