revenue $1.01B, net income -$5.1M. eXp acquires NextHome franchise, posts improved Q1 results amid agent satisfaction decline

Filed May 11, 2026 · Period ending March 31, 2026 · Compared to 10-Q May 6, 2025 · ~2 min read

Key Changes

• high

  Company acquired NextHome on May 6, 2026, marking first entry into franchised real estate brokerage model and expanding beyond traditional cloud-based operations to serve independent brokerages.

  MD&A: NextHome acquisition verify on EDGAR →
• high

  Operating loss narrowed 15% to $8.8M from $10.4M year-over-year; adjusted EBITDA improved 88% to $4.1M driven by cost reductions in H2 2025, reversing prior-year declines.

  MD&A: Operating results verify on EDGAR →
• high

  Transaction volume rose 5.5% and per-transaction costs fell 5% despite flat U.S. market (down 1%), reflecting improved agent productivity and operational leverage.

  MD&A: Transaction metrics verify on EDGAR →