10-Q Filing

EXP WORLD HOLDINGS, INC. CIK: 1495932 Q1 2019

Filing Information

Form Type	10-Q
Accession Number	`0001495932-19-000046`
Period End Date	20190331
Filing Date	20190510
Fiscal Year	2019
Fiscal Period	Q1
XBRL Instance	expi-20190331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 64 Income Statement 29 Cash Flow Statement 52 Stockholders Equity 22 Comprehensive Income 6

Balance Sheet 64 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivable`	$297.57K	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivable`	$484.44K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$8.34M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$20.77M	USD	Point-in-time
Common stock shares authorized	`CommonStockSharesAuthorized`	220.00M	shares	Point-in-time
Common stock shares authorized	`CommonStockSharesAuthorized`	220.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$20.54M	USD	Point-in-time
Restricted cash	`RestrictedCash`	$1.77M	USD	Point-in-time
Common stock par value	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Restricted cash	`RestrictedCash`	$4.19M	USD	Point-in-time
Common stock par value	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Restricted cash	`RestrictedCash`	$2.50M	USD	Point-in-time
Common stock shares issued	`CommonStockSharesIssued`	60.61M	shares	Point-in-time
Accounts receivable, net of allowance $297,567 and $484,441, respectively	`AccountsReceivableNetCurrent`	$17.43M	USD	Point-in-time
Common stock shares issued	`CommonStockSharesIssued`	61.50M	shares	Point-in-time
Accounts receivable, net of allowance $297,567 and $484,441, respectively	`AccountsReceivableNetCurrent`	$29.69M	USD	Point-in-time
Prepaids and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.79M	USD	Point-in-time
Prepaids and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.86M	USD	Point-in-time
Common stock shares outstanding	`CommonStockSharesOutstanding`	61.14M	shares	Point-in-time
TOTAL CURRENT ASSETS	`AssetsCurrent`	$42.33M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	357,752.00	shares	Point-in-time
TOTAL CURRENT ASSETS	`AssetsCurrent`	$56.45M	USD	Point-in-time
Fixed Assets, net	`PropertyPlantAndEquipmentNet`	$2.74M	USD	Point-in-time
Fixed Assets, net	`PropertyPlantAndEquipmentNet`	$3.15M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	-	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$291.69K	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetIncludingGoodwill`	$2.53M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetIncludingGoodwill`	$2.46M	USD	Point-in-time
Goodwill	`Goodwill`	$8.25M	USD	Point-in-time
Goodwill	`Goodwill`	$8.25M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$55.85M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$70.60M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.30M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.76M	USD	Point-in-time
Customer deposits	`ContractWithCustomerLiabilityCurrent`	$2.50M	USD	Point-in-time
Customer deposits	`ContractWithCustomerLiabilityCurrent`	$4.19M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$18.98M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$30.76M	USD	Point-in-time
Current portion of long-term payable	`LongTermDebtCurrent`	$974.66K	USD	Point-in-time
Current portion of long-term payable	`LongTermDebtCurrent`	$974.66K	USD	Point-in-time
Current portion of lease obligation - operating lease	`OperatingLeaseLiabilityCurrent`	$79.54K	USD	Point-in-time
TOTAL CURRENT LIABILITIES	`LiabilitiesCurrent`	$37.31M	USD	Point-in-time
TOTAL CURRENT LIABILITIES	`LiabilitiesCurrent`	$24.21M	USD	Point-in-time
Long term payable, net of current portion	`LongTermDebtNoncurrent`	$1.65M	USD	Point-in-time
Long term payable, net of current portion	`LongTermDebtNoncurrent`	$1.72M	USD	Point-in-time
Long term lease obligation - operating lease	`OperatingLeaseLiabilityNoncurrent`	$212.21K	USD	Point-in-time
Long term lease obligation - operating lease	`OperatingLeaseLiabilityNoncurrent`	-	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$25.87M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$39.24M	USD	Point-in-time
Common Stock, $0.00001 par value 220,000,000 shares authorized; 61,499,843 issued and 61,142,091 outstanding at March 31, 2019, 60,609,102 issued and 60,609,102 outstanding at December 31, 2018	`CommonStockValue`	$612.00	USD	Point-in-time
Common Stock, $0.00001 par value 220,000,000 shares authorized; 61,499,843 issued and 61,142,091 outstanding at March 31, 2019, 60,609,102 issued and 60,609,102 outstanding at December 31, 2018	`CommonStockValue`	$606.00	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$90.76M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$102.07M	USD	Point-in-time
Treasury stock, at cost: 357,752 shares held at March 31, 2019	`TreasuryStockCommonValue`	$3.65M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-67.06M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-60.77M	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossBeforeTax1`	$-11.33K	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossBeforeTax1`	$3.53K	USD	Point-in-time
TOTAL STOCKHOLDERS' EQUITY	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$31.36M	USD	Point-in-time
TOTAL STOCKHOLDERS' EQUITY	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$5.78M	USD	Point-in-time
TOTAL STOCKHOLDERS' EQUITY	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$29.98M	USD	Point-in-time
TOTAL STOCKHOLDERS' EQUITY	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$4.26M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$55.85M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$70.60M	USD	Point-in-time

Income Statement 29 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$61.96M	USD	1 Quarter
Revenues	`Revenues`	$157.03M	USD	1 Quarter
Commissions and other agent-related costs	`SalesCommissionsAndFees`	$142.54M	USD	1 Quarter
Commissions and other agent-related costs	`SalesCommissionsAndFees`	$55.70M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$19.70M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$16.28M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$888.85K	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$645.80K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$72.63M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$163.13M	USD	1 Quarter
Net loss from operations	`OperatingIncomeLoss`	$-6.10M	USD	1 Quarter
Net loss from operations	`OperatingIncomeLoss`	$-10.67M	USD	1 Quarter
Other income and (expenses)	`OtherNonoperatingIncomeExpense`	$-80.98K	USD	1 Quarter
Interest income (expense)	`InterestIncomeExpenseNet`	$46.24K	USD	1 Quarter
Total other income and (expenses)	`NonoperatingIncomeExpense`	$-34.73K	USD	1 Quarter
Loss before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-6.13M	USD	1 Quarter
Loss before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-10.67M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$162.70K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$30.45K	USD	1 Quarter
Net loss	`ProfitLoss`	$-6.30M	USD	1 Quarter
Net loss	`ProfitLoss`	$-10.70M	USD	1 Quarter
Net loss per share attributable to common sharesholders - Basic from continuing operations	`EarningsPerShareBasic`	$-0.19	USD	1 Quarter
Net loss per share attributable to common sharesholders - Basic from continuing operations	`EarningsPerShareBasic`	$-0.10	USD	1 Quarter
Net loss per share attributable to common sharesholders - Diluted from continuing operations	`EarningsPerShareDiluted`	$-0.19	USD	1 Quarter
Net loss per share attributable to common sharesholders - Diluted from continuing operations	`EarningsPerShareDiluted`	$-0.10	USD	1 Quarter
Weighted average shares outstanding - Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	60.75M	shares	1 Quarter
Weighted average shares outstanding - Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	56.19M	shares	1 Quarter
Weighted average shares outstanding - Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	60.75M	shares	1 Quarter
Weighted average shares outstanding - Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	56.19M	shares	1 Quarter

Cash Flow Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-6.30M	USD	1 Quarter
Net loss	`ProfitLoss`	$-10.70M	USD	1 Quarter
Depreciation expense	`Depreciation`	$183.32K	USD	1 Quarter
Depreciation expense	`Depreciation`	$367.29K	USD	1 Quarter
Stock compensation expense	`ShareBasedCompensation`	$3.67M	USD	1 Quarter
Stock compensation expense	`ShareBasedCompensation`	$8.28M	USD	1 Quarter
Stock option expense	`StockOptionPlanExpense`	$1.30M	USD	1 Quarter
Stock option expense	`StockOptionPlanExpense`	$1.22M	USD	1 Quarter
Agent equity program	`ShareBasedCompensationAgentEquityProgram`	$6.21M	USD	1 Quarter
Agent equity program	`ShareBasedCompensationAgentEquityProgram`	$2.37M	USD	1 Quarter
Change in stock payable	`ChangeInFairValueOfStockPayable`	$62.52K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$12.26M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$2.18M	USD	1 Quarter
Prepaids and other assets	`IncreaseDecreaseInPrepaidExpense`	$-111.58K	USD	1 Quarter
Prepaids and other assets	`IncreaseDecreaseInPrepaidExpense`	$91.96K	USD	1 Quarter
Customer deposits	`IncreaseDecreaseInDepositsOutstanding`	$-1.68M	USD	1 Quarter
Customer deposits	`IncreaseDecreaseInDepositsOutstanding`	$-847.41K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$44.89K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$115.57K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$11.79M	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$4.66M	USD	1 Quarter
Noncash lease expense	`IncreaseDecreaseInOperatingLeaseLiability`	$63.00	USD	1 Quarter
NET CASH PROVIDED BY OPERATING ACTIVITIES	`NetCashProvidedByUsedInOperatingActivities`	$6.66M	USD	1 Quarter
NET CASH PROVIDED BY OPERATING ACTIVITIES	`NetCashProvidedByUsedInOperatingActivities`	$4.79M	USD	1 Quarter
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$827.92K	USD	1 Quarter
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$513.52K	USD	1 Quarter
Payment for business acquisition and intangibles	`PaymentsForBusinessAcquisitionAndPurchaseOfIntangibleAssets`	$500.00K	USD	1 Quarter
NET CASH USED IN INVESTING ACTIVITIES	`NetCashProvidedByUsedInInvestingActivities`	$-1.33M	USD	1 Quarter
NET CASH USED IN INVESTING ACTIVITIES	`NetCashProvidedByUsedInInvestingActivities`	$-513.52K	USD	1 Quarter
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$3.65M	USD	1 Quarter
Proceeds from exercise of options	`ProceedsFromStockOptionsExercised`	$215.73K	USD	1 Quarter
Proceeds from exercise of options	`ProceedsFromStockOptionsExercised`	$264.36K	USD	1 Quarter
CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES	`NetCashProvidedByUsedInFinancingActivities`	$264.36K	USD	1 Quarter
CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES	`NetCashProvidedByUsedInFinancingActivities`	$-3.43M	USD	1 Quarter
Effect of changes in exchange rates on cash, cash equivalents and restricted cash	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-23.03K	USD	1 Quarter
Effect of changes in exchange rates on cash, cash equivalents and restricted cash	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$27.04K	USD	1 Quarter
Net change in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$1.93M	USD	1 Quarter
Net change in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$4.52M	USD	1 Quarter
Cash, cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$23.04M	USD	Point-in-time
Cash, cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$10.11M	USD	Point-in-time
Cash, cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$5.60M	USD	Point-in-time
Cash, cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$24.97M	USD	Point-in-time
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$5.60M	USD	Point-in-time
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$24.97M	USD	Point-in-time
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$10.11M	USD	Point-in-time
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$23.04M	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	$18.46K	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaidNet`	$100.29K	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaidNet`	$30.45K	USD	1 Quarter
Recognition of right of use assets and lease liability upon adoption of new accounting standard	`RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability`	$317.63K	USD	1 Quarter
Fixed asset purchases in accounts payable	`FixedAssetPurchasesInAccountsPayable`	$46.34K	USD	1 Quarter
Fixed asset purchases in accounts payable	`FixedAssetPurchasesInAccountsPayable`	$71.89K	USD	1 Quarter

Stockholders Equity 22 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, value	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$31.36M	USD	Point-in-time
Beginning balance, value	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$5.78M	USD	Point-in-time
Beginning balance, value	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$29.98M	USD	Point-in-time
Beginning balance, value	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$4.26M	USD	Point-in-time
Exercise of options, shares issued	`StockIssuedDuringPeriodSharesStockOptionsExercised`	134,260.00	shares	1 Quarter
Exercise of options, value	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationAndExerciseOfStockOptions`	$215.73K	USD	1 Quarter
Exercise of options, value	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationAndExerciseOfStockOptions`	$264.36K	USD	1 Quarter
Repurchase and retirement of common stock, value	`TreasuryStockValue`	$3.65M	USD	Point-in-time
Stock compensation expense, value	`StockIssuedDuringPeriodValueShareBasedCompensation`	$3.67M	USD	1 Quarter
Stock compensation expense, value	`StockIssuedDuringPeriodValueShareBasedCompensation`	$8.28M	USD	1 Quarter
Stock option expense	`StockOptionPlanExpense`	$1.22M	USD	1 Quarter
Stock option expense	`StockOptionPlanExpense`	$1.30M	USD	1 Quarter
Agent equity program, value	`StockIssuedDuringPeriodValueIssuedForServices`	$2.37M	USD	1 Quarter
Agent equity program, value	`StockIssuedDuringPeriodValueIssuedForServices`	$6.21M	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$14.86K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-1.27K	USD	1 Quarter
Net loss	`ProfitLoss`	$-6.30M	USD	1 Quarter
Net loss	`ProfitLoss`	$-10.70M	USD	1 Quarter
Ending balance, value	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$31.36M	USD	Point-in-time
Ending balance, value	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$5.78M	USD	Point-in-time
Ending balance, value	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$29.98M	USD	Point-in-time
Ending balance, value	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$4.26M	USD	Point-in-time

Comprehensive Income 6 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-6.30M	USD	1 Quarter
Net loss	`ProfitLoss`	$-10.70M	USD	1 Quarter
Foreign currency translation adjustments, net of tax	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$14.86K	USD	1 Quarter
Foreign currency translation adjustments, net of tax	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-1.27K	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-10.70M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-6.28M	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.