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TickerEXPI
SectorReal Estate - Services
Mkt cap$1.1B
EV / EBITDAN/A
PostureHigh Velocity
Composite70/100
LensTarget-side
SE-Cluster Research·Issuer Brief·Q2 2026CIK 1495932

EXP World Holdings, Inc.

EXPIHIGH VELOCITYFILING INTENSITY

EXP World Holdings, Inc. reads as High Velocity (composite 70/100); pressure / disclosure signals dominate the posture this cycle · primary market Real Estate Services.

Lens

Disclosed M&A capital (2023–2025)

$6M

−70%

vs $20M in 2020–2022

Disclosed transactions

N/A

−99%

1/3 active fiscal years in window

Buyer archetype

Selective Buyer

Acquisition use is visible but targeted.

Composite score

70

/100

High Velocity dominates · Filing Intensity

Financial snapshot
Revenue$4.8B
EBITDAN/A
Enterprise value$949M
EV / Revenue0.2×
EV / EBITDAN/A
P/EN/A
Cash$124M
Total debt$20K
as of 2026-05-10
§ I·SE-Cluster Issuer Brief

Behavioral posture, nine reads.

Each index scores the issuer 0–100 against an EDGAR-anchored definition. Scores ≥ threshold elevate the issuer into the index's constituent set; the dominant index drives the masthead label.

Active Acquirer

8/100

Companies actively deploying disclosed capital into M&A

  • $28M disclosed buyer spend

Buyer Cadence

15/100

Buyer-side companies with recent filing activity

  • Filed within 33d
  • 132 8-Ks

Target Probability

20/100

Issuers showing target-side patterns from filings

  • 11 activism filings

Spin/Carve

0/100

Issuers showing spin-off, carve-out, or sum-of-parts posture

  • 11 activism filings

Pressure Watch

42/100

Issuers facing activism, governance, or control pressure

  • 11 activism filings
  • Latest activism 2.4y ago; discounted

Distress Watch

44/100

Issuers showing financial-distress filing patterns

  • 10-Q 215d stale
  • 11 activism filings

Restatement Risk

0/100

Issuers with accounting-integrity flags from filings

Capital Velocity

Dominant
70/100

Issuers with the highest filing-activity intensity

  • 132 8-Ks
  • 5 form types

Quiet Power

0/100

Large issuers with low signal volume and clean disclosure cadence

  • Enterprise value $949M
  • 10-Q 215d ago
  • 2 active signals
§ II·SE-Cluster Issuer Brief

Capital cadence.

Ten-year disclosed M&A activity. Bars show spend ($MM); ticks show recorded transaction count. Disclosure tier annotated where v6 audited corpus carries an entry.

16
17
18
19
20
21
22
23
24
25

Disclosed spend $MM Disclosed transactions (right axis)Peak spend year: $11M · Peak count: 2

FYDisclosed buysDisclosed spendAvg ticketAudited tier
2025N/AN/AN/AN/A
2024N/A$6MN/AN/A
2023N/AN/AN/AN/A
20221$10M$10MN/A
2021N/AN/AN/AN/A
20202$11M$5MN/A
§ III·SE-Cluster Issuer Brief

Strategy posture.

The buyer's playbook in terms of strategic archetype: what each disclosed move says about how they're deploying capital.

Archetype mix

  • Technology Acquisition
    33%
  • Bolt On
    33%
  • Platform
    33%

Strategy keywords

Terms recurring across recent 10-K acquisition disclosures.

  • technology_acquisition
  • bolt_on
  • platform
§ IV·SE-Cluster Issuer Brief

Filing language.

Direct excerpts from acquisition disclosures and strategy sections: the verbs the buyer chose, in the filings they signed.

As part of our business and growth strategy, we evaluate acquisitions of, or investments in, a wide array of potential strategic opportunities, including third-party technologies and businesses, as well as other real estate brokerages.

10-KFY2023

We will continue to look for opportunities to acquire technologies or operations that we believe will contribute to our growth and development, including our July 2022 acquisition of Zoocasa.

10-KFY2022

we evaluate acquisitions of, or investments in, a wide array of potential strategic opportunities, including third-party technologies and businesses, as well as other real estate brokerages.

10-KFY2022

If we are not able to effectively integrate acquired businesses and assets or successfully execute joint venture strategies, our operating results and prospects could be harmed.

10-KFY2023

In 2024, the Company acquired the assets of LUXVT to enhance our eXp Luxury agent program

10-KFY2024
§ V·SE-Cluster Issuer Brief

Market context.

Where this issuer sits inside its SE-Cluster rollup wedge, with disclosed-spend rank plus trading comparables against the public peer set.

Primary market

Real Estate Services

Market spend (2023–2025)
$15.5B
Market spend (2020–2022)
$1.4B
Recent vs prior
+976%
Issuer rank in market
N/A
Share of market capital
0.0%

Valuation positioning

Trading comparables unavailable for this wedge.

§ VI·SE-Cluster Issuer Brief

Buyer landscape.

Public buyers whose stated archetypes, target categories, and recent cadence align with this issuer as a plausible acquisition target. Scores cross EDGAR signal and disclosure overlap.

Likely buyers

No public buyers surface as a strong target-side fit on current signal.

Likely sellers / divestiture partners

No reciprocal divestiture / strategic-alternatives matches identified.

§ VII·SE-Cluster Issuer Brief

Filing activity & signal stream.

Filing cadence and event-driven signals visible on EDGAR. The signal stream below is curated from restatement / spin-carve / activism categories, providing context for any near-term call.

Filing cadence

  • 10-K (annual)192026-02-24
  • 10-Q (quarterly)512025-11-06
  • 8-K (event)1322026-05-07
  • Proxy / DEF 14A172026-05-01
  • Activism (13D / DFAN / PREC)112024-01-12

Signals on file

  • elevated

    Activism on file

    2024-01-12

    11 activist filings on file (13D, DFAN14A, PREC14A series).

  • info

    Signal

    Serial acquisition history

  • info

    Signal

    10-K strategy themes

§ VIII·SE-Cluster Issuer Brief

Audited corpus.

No audited record on file for this CIK in the current v6 corpus.

This issuer has not been extracted into the v6 audited acquirer corpus yet. The brief above pulls from ranking-level aggregates and issuer-index signal only.