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Xp World Holdings reported a net loss of $6.5 million in Q3, largely due to its payout in the commissions settlement. Despite this, the cloud-based brokerage touted agent productivity and international growth as positives. Revenue saw a small gain, attributed to "superior productivity" among agents, but the company's bottom line took a hit.

    Total transactions dipped slightly, while transaction volume increased by 5% year-over-year to $50.8 billion. Agent count has been declining for four consecutive quarters since eXp began an offboarding program aimed at weeding out less productive agents. The brokerage also announced efforts to become more competitive in luxury markets across the U.S., including a redesigned website and acquisition of Grand Lux Realty.

    eXp's international presence is growing, with revenue increasing by 63% over the last 12 months. The company plans to open locations in Türkiye, Peru, and Egypt in early 2025 and is actively negotiating deals for offices in two to three additional countries.

    Key numbers include a revenue of $1.2 billion, relatively flat from the previous quarter but up 2% year-over-year, and an adjusted EBITDA of $23.9 million, an increase of 15% compared to the same period a year ago. Agent count decreased by 4% from last year, marking the fourth consecutive quarter of decline.

    In October, eXp agreed to pay $34 million to settle commissions litigation, which has received criticism from plaintiffs in a related case. The company made two significant changes to its compensation structure, designed to reward high-performing agents, and began rolling out these programs on November 1.