Exhibit 99.1

eXp World Holdings Reports First-Quarter Financial Results

Achieved Positive Net Income for Second Quarter in a Row

Revenue Up 73% Year-over-year to $271 Million

Announces First Virtual Annual Shareholder Event

BELLINGHAM, Wash. — May 5, 2020 — eXp World Holdings, Inc. (Nasdaq: EXPI), the holding company for eXp Realty and VirBELA, today announced financial results for the first quarter ended March 31, 2020 and that this year’s eXp shareholder event will be held May 12 in its virtual campus for the first time.

The company reported its second profitable quarter in a row with net income of $0.2 million in the first quarter. In addition, quarterly revenue grew 73 percent versus the prior year driven by continued rapid agent growth and increased transactions. eXp Realty continues to attract agents at the highest rate in the industry because the cloud-based remote model is very appealing to agents and independent brokerages, especially during this challenging time.

“Our performance in the first quarter was outstanding,” said eXp World Holdings CEO, Chairman and Founder Glenn Sanford. “We recorded GAAP positive net income in the first quarter of 2020, achieving back-to-back quarters with positive GAAP earnings for the first time. This milestone represents continued progress around the benefits of scale, operating as a fully remote organization, while at the same time investing in the underlying VirBELA platform to create similar benefits for other companies who are now trying to figure out how to operate in the current and post global pandemic world.

“As we move deeper into 2020, it will no doubt be a volatile year for many industries. The backdrop of the global health crisis will change how people will work together and even how they socialize. It has the potential of changing how consumers approach the home-buying and -selling process. And beyond real estate, there will be a number of enterprises that adopt a virtual workplace in the way the global eXp family already works together, which we are excited about.”

First-Quarter 2020 Financial Results Summary

“As we navigate and eventually emerge from this crisis, eXp is uniquely positioned to adapt,” said eXp World Holdings CFO and Chief Collaboration Officer Jeff Whiteside. “In VirBELA, we have one of the few platforms that supports people and teams working together seamlessly without ever needing to leave their homes. VirBELA has experienced a dramatic increase in use and adoption due to its effectiveness in supporting remote work and virtual events during this time of social distancing. We anticipate accelerated growth opportunities as companies embrace the new normal for how business is conducted as the need and desire for physical distancing takes center stage.

“For eXp Realty, the company anticipates revenue growth and home transaction sides to slow compared to the prior year as the impacts from COVID-19 continue to affect the economy and housing market. However, we anticipate that eXp Realty will continue to add agents at levels above competing national brokerages.” 

First-Quarter 2020 Operating and Business Highlights

eXp Shareholder Event

The eXp shareholder event is for current and potential shareholders. Attendees will receive an update on eXp World Holdings and its companies, and hear from company leadership and members of the board of directors as well as eXp Realty agents, brokers and partners.

Use of Non-GAAP Financial Measures

To provide investors with additional information regarding our financial results, this press release includes references to Adjusted EBITDA, which is a non-U.S. GAAP financial measure and may be different than similarly titled measures used by other companies. It is presented to enhance investors’ overall understanding of the company’s financial performance and should not be considered a substitute for, or superior to, the financial information prepared and presented in accordance with U.S. GAAP.

The company’s Adjusted EBITDA provides useful information about financial performance, enhances the overall understanding of past performance and future prospects, and allows for greater transparency with respect to a key metric used by management for financial and operational decision-making. Adjusted EBITDA helps identify underlying trends in the business that otherwise could be masked by the effect of the expenses that are excluded in Adjusted EBITDA. In particular, the company believes the exclusion of stock and stock option expenses, provides a useful supplemental measure in evaluating the performance of operations and provides better transparency into results of operations.

The company defines the non-U.S. GAAP financial measure of Adjusted EBITDA to mean net income (loss), excluding other income (expense), income tax expense, depreciation and amortization; stock-based compensation expense, and stock option expense. Adjusted EBITDA may assist investors in seeing financial performance through the eyes of management, and may provide an additional tool for investors to use in comparing core financial performance over multiple periods with other companies in the industry.

Adjusted EBITDA should not be considered in isolation from, or as a substitute for, financial information prepared in accordance with U.S. GAAP. There are a number of limitations related to the use of Adjusted EBITDA compared to Net Income (Loss), the closest comparable U.S. GAAP measure. Some of these limitations are that:

Safe Harbor Statement

The statements contained herein may include statements of future expectations and other forward-looking statements that are based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Such forward-looking statements speak only as of the date hereof, and the company undertakes no obligation to revise or update them. These statements include, but are not limited to, statements about the company’s expansion, revenue growth, operating results, financial performance and net income

changes. Such statements are not guarantees of future performance. Important factors that may cause actual results to differ materially and adversely from those expressed in forward-looking statements include changes in business or other market conditions; the difficulty of keeping expense growth at modest levels while increasing revenues; and other risks detailed from time to time in the company’s Securities and Exchange Commission filings, including but not limited to the most recently filed Annual Report on Form 10-K.

About eXp World Holdings

eXp World Holdings, Inc. (Nasdaq: EXPI) houses eXp Realty and VirBELA.

eXp Realty, The Real Estate Cloud Brokerage, is the fastest-growing, global residential real estate company with more than 28,000 agents in the United States, Canada, the United Kingdom and Australia. As a subsidiary of a publicly traded company, eXp Realty uniquely offers real estate professionals within its ranks opportunities to earn eXp World Holdings stock for production and contributions to overall company growth.

VirBELA is an immersive technology platform for business, events and education. Its modern, cloud-based environment provides a virtual experience for workers, attendees, students and more to communicate, collaborate, meet and socialize. For more information, visit the company’s website at virbela.com.

For more information, please visit the company’s website at www.expworldholdings.com.

Connect with eXp World Holdings and its companies: https://expworldholdings.com/social

Reported Consolidated Results

Media Relations Contact:

Cynthia Nowak

Vice president, marketing and communications, eXp Realty

360.419.5285 ext. 116

cynthia.nowak@exprealty.net 

Investor Relations Contact:

Raymond “RJ” Jones

Executive Vice President, finance and growth, eXp World Holdings

360.761.4393

investors@expworldholdings.com