eXp World (EXPI) 10-Q 13 Nov 18 2018 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2018	Oct. 15, 2018
Document And Entity Information
Entity Registrant Name	EXP World Holdings, Inc.
Entity Central Index Key	1,495,932
Document Type	10-Q
Document Period End Date	Sep. 30, 2018
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		59,036,937
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2,018

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)	Sep. 30, 2018	Dec. 31, 2017
ASSETS:
Cash and cash equivalents	$ 22,093,710	$ 4,672,034
Restricted cash	2,717,187	923,193
Accounts receivable, net of allowance $345,032 and $179,759, respectively	21,183,291	6,912,657
Prepaids and other assets	757,540	591,034
TOTAL CURRENT ASSETS	46,751,728	13,098,918
OTHER ASSETS:
Fixed assets, net	2,319,415	1,538,213
TOTAL OTHER ASSETS	2,319,415	1,538,213
TOTAL ASSETS	49,071,143	14,637,131
CURRENT LIABILITIES:
Accounts payable	1,527,470	635,087
Customer deposits	2,717,187	923,193
Accrued expenses	21,181,935	8,818,180
TOTAL CURRENT LIABILITIES	25,426,592	10,376,460
STOCKHOLDERS' EQUITY:
Common Stock, $0.00001 par value 220,000,000 shares authorized; 58,968,762 and 54,962,535 shares issued and outstanding at September 30, 2018 and December 31, 2017, respectively	589	550
Additional paid-in capital	79,195,251	36,848,041
Accumulated deficit	(55,557,542)	(32,596,374)
Accumulated other comprehensive income (loss)	6,253	8,454
TOTAL STOCKHOLDERS' EQUITY	23,644,551	4,260,671
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 49,071,143	$ 14,637,131

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($)	Sep. 30, 2018	Dec. 31, 2017
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 345,032	$ 179,759
Common stock shares authorized	220,000,000	220,000,000
Common stock par value	$ 0.00001	$ 0.00001
Common stock shares issued	58,968,762	54,962,535
Common stock shares outstanding	58,968,762	54,962,535

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Income Statement [Abstract]
Revenues	$ 157,236,070	$ 47,371,745	$ 349,741,409	$ 107,880,869
Operating expenses:
Cost of revenues	145,740,264	42,903,624	319,560,992	96,604,633
General and administrative	14,769,707	9,175,260	43,447,290	19,643,788
Professional fees	581,723	223,811	1,770,869	906,654
Sales and marketing	774,479	380,452	2,130,644	1,030,497
Total expenses	161,866,173	52,683,147	366,909,795	118,185,572
Net loss from operations	(4,630,103)	(5,311,402)	(17,168,386)	(10,304,703)
Other income and (expenses)
Interest income (expense)	9,387	(58)	9,387	(5,535)
Total other income and (expenses)	9,387	(58)	9,387	(5,535)
Loss before income tax expense	(4,620,716)	(5,311,460)	(17,158,999)	(10,310,238)
Income tax expense	(7,455)	(3,277)	(52,175)	(51,615)
Net loss	$ (4,628,171)	$ (5,314,737)	$ (17,211,174)	$ (10,361,853)
Net loss per share attributable to common shareholders - Basic from continuing operations	$ (0.08)	$ (0.10)	$ (0.30)	$ (0.20)
Net loss per share attributable to common shareholders - Diluted from continuing operations	$ (0.08)	$ (0.10)	$ (0.30)	$ (0.20)
Weighted average shares outstanding - basic	58,360,233	53,335,822	57,069,377	52,837,134
Weighted average shares outstanding - diluted	58,360,233	53,335,822	57,069,377	52,837,134

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Statement of Comprehensive Income [Abstract]
Net loss	$ (4,628,171)	$ (5,314,737)	$ (17,211,174)	$ (10,361,853)
Other comprehensive loss:
Foreign currency translation adjustments, net of tax	(10,721)	856	(2,201)	3,669
Comprehensive loss	$ (4,638,892)	$ (5,313,881)	$ (17,213,375)	$ (10,358,184)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($)	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
OPERATING ACTIVITIES
Net loss	$ (17,211,174)	$ (10,361,853)
Adjustments to reconcile net loss to cash provided by operating activities:
Depreciation	570,910	207,189
Stock compensation expense	16,507,378	3,761,254
Stock option expense	3,586,726	4,565,324
Agent equity program	14,746,702	3,968,505
Changes in operating assets and liabilities:
Accounts receivable	(14,273,358)	(4,530,272)
Prepaids and other assets	(122,271)	(321,576)
Customer deposits	1,793,994	652,405
Accounts payable	892,383	95,019
Accrued expenses	12,363,755	5,013,111
CASH PROVIDED BY OPERATING ACTIVITIES	18,855,045	3,049,106
INVESTING ACTIVITIES
Acquisition of property and equipment	(1,396,346)	(849,764)
CASH USED IN INVESTING ACTIVITIES	(1,396,346)	(849,764)
FINANCING ACTIVITIES
Proceeds from issuance of common stock		142,158
Repurchase and retirement of subsidiary common stock		(3,607)
Proceeds from exercise of options	1,749,896	20,000
Principal payments of notes payable		(35,778)
CASH PROVIDED BY FINANCING ACTIVITIES	1,749,896	122,773
Effect of changes in exchange rates on cash, cash equivalents and restricted cash	7,075	(6,408)
Net change in cash, cash equivalents and restricted cash	19,215,670	2,315,707
Cash, cash equivalents and restricted cash, beginning of period	5,595,227	2,166,312
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, END OF PERIOD	24,810,897	4,482,019
SUPPLEMENTAL DISCLOSURE OF CASH FLOWS INFORMATION:
Cash paid for interest		920
Cash paid for income taxes	52,175	57,484
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:
Fixed asset purchases in accounts payable	$ 44,235	$ 117,235

1. Basis of Presentation

1. Basis of Presentation	9 Months Ended
	Sep. 30, 2018
Basis of Presentation [Abstract]
Basis of Presentation	1. BASIS OF PRESENTATION  eXp World Holdings, Inc. (the “Company” or “we” or “eXp”) was incorporated in the State of Delaware on July 30, 2008 . Through various operating subsidiaries, the Company operates a cloud-based real estate brokerage operating in all U.S. States, the District of Columbia and the provinces of Alberta, British Columbia and Ontario, Canada. The Company focuses on a number of cloud-based technologies in order to grow an international brokerage without the burden of physical bricks and mortar or redundant staffing costs. The accompanying interim unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q and Article 8-03 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements.  In our opinion, the accompanying unaudited Condensed Consolidated Financial Statements reflect all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation. Operating results for the three-month and nine-month periods ended September 30, 2018 are not necessarily indicative of the results that may be expected for the year ending December 31, 2018.  We have reclassified certain amounts in prior-period financial statements to conform to the current period’s presentation. 

2. Summary of Significant Accou

2. Summary of Significant Accounting Principles	9 Months Ended
	Sep. 30, 2018
Summary of Significant Accounting Principles [Abstract]
Summary of Significant Accounting Principles	2. SUMMARY OF SIGNIFICANT ACCOUNTING PRINCIPLES  Principles of Consolidation  The accompanying unaudited condensed consolidated financial statements include the accounts of eXp World Holdings, Inc., and its subsidiaries. All inter-company accounts and transactions have been eliminated upon consolidation. Use of Estimates The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The Company regularly evaluates estimates and assumptions related to provisions for doubtful accounts, legal contingencies, income taxes, revenue recognition, stock-based compensation, expense accruals, and deferred income tax asset valuation allowances. The Company bases its estimates and assumptions on current facts, historical experience and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. The actual results experienced by the Company may differ materially and adversely from the Company’s estimates. To the extent there are material differences between the estimates and the actual results, future results of operations will be affected.  Restricted Cash  The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the condensed consolidated balance sheet that sums to the total of the same such amounts shown in the statement of cash flows.      September 30, 2018 December 31, 2017  Cash and cash equivalents $ 22,093,710 $ 4,672,034  Restricted cash 2,717,187 923,193  Total cash, cash equivalents, and restricted cash shown in the statement of cash flows $ 24,810,897 $ 5,595,227  We have reclassified certain amounts in prior-period financial statements to conform to the current period’s presentation. In November 2016, the FASB issued ASU No. 2016-18 – Statement of Cash Flows (Topic 240) which changed the classification and presentation of restricted cash on the statement of cash flows. The Company adopted the new standard on January 1, 2018. As a result, restricted cash was reclassified from cash provided from operating activities to cash, cash equivalents and restricted cash on the condensed consolidated statement of cash flows.  For the nine months ended September 30, 2017, the change in restricted cash of $652,405 was reclassified.  Restricted cash consists of cash held in escrow by the Company’s brokers and agents on behalf of real estate buyers. The Company recognizes a corresponding customer deposit liability until the funds are released. Restricted cash totaled $ 2,717,187 and $ 923,193 at September 30, 2018 and December 31, 2017, respectively.  Revenue Recognition  Effective January 1, 2018, the Company adopted the new revenue standard using the modified retrospective application in which the cumulative effect of initially applying the revenue standard is recognized as an adjustment to the opening balance of retained earnings. Adoption of the new standard did not require the Company to make an adjustment to the opening balance.  The Company serves as a licensed broker in the areas in which it operates for the purpose of processing real estate transactions. The Company is contractually obligated to provide for the fulfillment of transfers of real estate between buyers and sellers. The Company provides these services itself and controls the service necessary to legally transfer the real estate. Correspondingly, the Company is defined as the Principal. The Company, as Principal, satisfies its obligation upon the closing of a real estate transaction. As Principal, and upon satisfaction of our obligation, the Company recognized revenue in the gross amount of consideration to which we expect to be entitled to.  Revenue is derived from assisting buyers and sellers in listing, marketing, selling and finding real estate. Commissions earned on real estate transactions are recognized at the completion of a real estate transaction.  Stock Compensation  The Company accounts for all stock ‑based compensation granted to employees and non ‑employees using a fair value method. Stock ‑based compensation awarded to employees is measured at the grant date fair value and is recognized over the requisite service period of the awards, usually the vesting period, on a straight ‑line basis, net of forfeitures. Prior to the adoption of ASU 2018-07 on July 1, 2018 described below in "Recently Adopted Accounting Pronouncements", stock ‑based compensation awarded to non ‑employees under our Real Estate Agent Growth Program and Stock Option Awards Plan was subject to revaluation over its vesting term. Subsequent to the adoption of ASU 2018-07, non-employee share-based payment awards are measured on the date of grant, similar to share-based payment awards granted to employees. The Company reduces recorded stock ‑based compensation for forfeitures when they occur.  The Company early adopted ASU 2018-07 on July 1, 2018, using the modified retrospective method. The reported results for 2018 reflect the application of ASC 718 guidance for non-employee share-based awards while the reported results for 2017 were prepared under the guidance of ASC 505 for non-employee stock-based compensation. The adoption of ASU 2018-07 for non-employee stock-based compensation represents a change in accounting principle that more closely aligns the accounting for stock-based compensation for employee and non-employee share-based payment awards.  The cumulative effect of applying the new guidance to all non-employee share-based payment awards was recorded as an adjustment to accumulated deficit as of the adoption date. As a result of applying the modified retrospective method to adopt the new stock-based compensation guidance, an adjustment of $5.7 million was made to the opening balance of accumulated deficit and additional paid-in capital as of January 1, 2018 .  Recently Issued Accounting Pronouncements  In February 2016, the FASB issued ASU No. 2016-02 - Leases (Topic 842). Under the new guidance, a lessee is required to recognize lease liabilities and corresponding right-of-use assets, initially measured at the present value of lease payments, on the balance sheet for operating leases with terms greater than one year. Lessor accounting remains largely unchanged from existing lease accounting. For leases with a term of 12 months or less, a lessee is permitted to make an accounting policy election not to recognize lease assets and lease liabilities. If the lessee makes the election, the lessee would recognize lease expense on a straight-line basis over the lease term. This ASU is effective in annual reporting periods beginning after December 15, 2018 and the interim periods within that fiscal year. The Company is still evaluating the potential impacts that the implementation of ASU 2016-02 may have on its financial position, operational results, or cash flows.  Recently Adopted Accounting Pronouncements  In June 2018, the FASB issued ASU No. 2018-07 – Compensation – Stock Compensation (Topic) 718. The ASU was issued as part of its Simplification Initiative to reduce costs and complexities of financial reporting. ASU No. 2018-07 simplifies the accounting for share-based payments granted to nonemployees for goods and services. Under the ASU, most of the guidance on such payments to nonemployees would be aligned with the requirements for share-based payments granted to employees. Currently, share-based payments transactions to nonemployees are measured at fair value and remeasured at each reporting date through the date of final vesting. This ASU changes the guidance related to the determination of the measurement date. Under the new guidance, equity-classified awards would be measured at the grant date. This ASU is effective for fiscal years beginning after December 15, 2018 including interim periods within those fiscal years. Early adoption is permitted if financial statements have not yet been issued. The Company elected to early-adopt ASU No. 2018-07 effective July 1, 2018 using the modified retrospective application with a cumulative-effect adjustment to the opening balance of accumulated deficit and additional paid-in-capital as of the beginning of the fiscal year .  In May 2017, the FASB issued ASU No. 2017-09 - Compensation (Topic 718): Scope of Modification Accounting . The FASB issued guidance to clarify when to account for a change in the terms or conditions of share-based payments awards as a modification. Under the new guidance, modification accounting is required only if the fair value, the vesting conditions or the classification of the award (as equity or liability) changes as a result of the change in terms or conditions. The general model for modifications of share-based payment awards is to record the incremental value arising from the change as additional compensation costs. Previously, judgments about whether certain changes to an award were substantive may have impacted whether or not modification accounting was applied in these situations. The Company adopted the new standard on January 1, 2018. The standard did not have an impact on the Company’s financial position, operational results or cash flows. In November 2016, the FASB issued ASU No. 2016-18 – Statement of Cash Flows (Topic 240). The FASB issued guidance to address the diversity in the classification and presentation of changes in restricted cash on the statement of cash flows under Topic 230, Statement of Cash Flows . The amendments require that a statement of cash flows explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. Amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cashflows. The Company adopted the new standard on January 1, 2018. The standard did not have a material impact on the Company’s financial position, operational results or cash flows. In May 2014, the FASB issued ASU No. 2014-09 - Revenue from Contracts with Customers (Topic 606). The objective of the revenue standard is to provide a single, comprehensive revenue recognition model for all contracts with customers to remove inconsistencies in requirements, provide a robust framework, improve comparability across entities and industries, provide more useful information to users and simplify the preparation of financial statements. The core principle of the revenue standard is that revenue be recognized upon the transfer of goods or services to customers in an amount that reflects the consideration to which we expect to receive in exchange for those goods or services. The new standard permits for two alternative implementation methods, the use of either (1) full retrospective application to each prior reporting presented or (2) modified retrospective application in which the cumulative effect of initially applying the revenue standard is recognized as an adjustment to the opting balance of retained earnings in the period of adoption. The Company adopted the new standard effective January 1, 2018 using the modified retrospective method. Since the Company currently recognizes revenue on a gross basis acting as a principal, upon completion of its performance obligations in the form of a completed residential real estate sale, the new standard did not have a material impact on the Company’s financial position, operational results or cash flows. 

3. Fixed Assets, Net

3. Fixed Assets, Net	9 Months Ended
	Sep. 30, 2018
Fixed Assets, Net [Abstract]
Fixed Assets, Net	3. FIXED ASSETS, NET  Fixed assets, net consisted of the following:     As of As of  September 30, 2018 December 31, 2017   Computer hardware and software $ 3,017,136 $ 1,982,749  Furniture, fixture and equipment 5,910 5,910  Total depreciable property and equipment 3,023,046 1,988,659  Less: accumulated depreciation and amortization (1,021,354) (450,446)  Depreciable property, net 2,001,692 1,538,213  Assets under development 317,723 –  Fixed assets, net $ 2,319,415 $ 1,538,213  Depreciation expense for the nine months ended September 30, 2018 and 2017 was $570,910 and $ 207,189 , respectively.  Depreciation expense for the three months ended September 30, 2018 and 2017 was $ 24 0,031 and $ 112,487 , respectively.

4. Stockholders' Equity

4. Stockholders' Equity	9 Months Ended
	Sep. 30, 2018
Stockholders' Equity [Abstract]
Stockholders' Equity	4. STOCKHOLDERS’ EQUITY  As of September 30, 2018, the Company had 58,968,762 shares of common stock issued and outstanding.  The following provides a detailed description of the stock-based transactions completed during the nine months ended September 30, 2018:  During the nine months ended September 30, 2018, the Company issued 2,256,550 shares of common stock upon the exercise of stock options and received cash consideration totaling $ 1,749,896 upon payment of the exercise price for the options.  During the nine months ended September 30, 2018, the Company issued 989,098 shares of common stock in exchange for services totaling $ 14,746,702 , which includes the expense activity in our 2015 Agent Equity Program. During the nine months ended September 30, 2018, the Company issued 742,842 shares of common stock in exchange for services totaling $ 16,507,378 , which included the expense activity for Real Estate Agent Growth and Other Incentive Programs.  Agent Equity Program  The Company provides agents and brokers the opportunity to elect to receive 5% of commissions earned from each completed residential real estate transaction in the form of common stock. If agents and brokers elect to receive portions of their commissions in common stock, they are entitled to receive the equivalent number of shares of common stock, based on the fixed monetary value of the commission payable. The shares are issued at a 20% discount to market on the date of issuance. We recognize this 20% discount as an additional cost of sales charge during the periods presented.  All agents and brokers in good standing with the Company are eligible to participate in the Agent Equity Program. To be considered in good standing, agents and brokers must be current in their financial obligations, including all fees, to the Company. In addition, all required licenses, local, state and national dues and subscriptions which are required to conduct real estate business in their state must be current and in effect.  During the nine months ended September 30, 2018 and 2017, the Company issued 989,098 and 1,197,422 shares of common stock, respectively, to agents and brokers for total consideration of $ 14,746,702 and $3,968 ,505 respectively, for the settlement of commissions payable inclusive of the 20% non-cash charge for the discount.  Real Estate Agent Growth Incentive Program  The Company administers an equity incentive program whereby agents and brokers become eligible to receive awards of the Company’s common stock through agent attraction and performance benchmarks. Agents who qualify are awarded common stock based on achievement of performance milestones.  Under this program, the Company awards common stock to our agents and brokers that become issuable upon the achievement of certain milestones for both the individual and the recruited agents. The following table illustrates the Company’s stock activity for the Real Estate Agent Growth Incentive Program for the following periods:      Weighted Average  Shares Fair Value  Balance, December 31, 2016 3,057,879 4.05  Granted 2,024,498 7.60  Issued (1,457,538) 5.27  Forfeited (565,774) 4.76  Balance, December 31, 2017 3,059,065 7.60  Granted 2,052,246 11.58  Issued (554,180) 12.66  Forfeited (391,792) 5.87  Balance, September 30, 2018 4,165,339 11.61  As of September 30, 2018, the Company had 2,064,468 unvested stock awards and 4,165,339 expected to vest, respectively, with unrecognized compensation costs totaling $24,531,203 .  Stock Option Awards  During the nine months ended September 30, 2018, the Company granted 345,000 stock options with an estimated grant date fair value of $3, 318,089 . The assumptions used to estimate the grant date fair value of the awards issued for the nine months ended September 30, 2018 include: expected volatility based on historical stock prices ranging from 131.3% to 153.7% ; an average expected term between 6.25 and 10 years; risk free rates based on U.S. Treasury instruments for the expected term of approximately 2.6% ; and no dividend payments.  The following table illustrates the Company’s stock option activity for the following periods:      Weighted  Average  Weighted Remaining  Average Contractual Term  Options Exercise Price Intrinsic Value (Years)  Balance, December 31, 2016 10,747,558 $ 0.67 3.56 7.75  Granted 2,848,231 3.76 - 6.15  Exercised (181,572) 0.26 6.86 -  Forfeited (2,540,925) 2.31 3.20 -  Balance, December 31, 2017 10,873,292 $ 1.50 5.08 6.65  Granted 345,000 11.67 6.72 9.29  Exercised (2,256,549) 0.78 12.18 -  Forfeited (311,112) 3.63 9.24 -  Balance, September 30, 2018 8,650,631 $ 1.46 16.93 6.08  Exercisable at September 30, 2018 6,681,491 0.66 13.55 4.20  Vested at September 30, 2018 6,799,066 $ 0.69 13.77 4.31  As of September 30, 2018, the total unrecognized compensation cost associated with options was approximately $7, 867,752 .

5. Debt

5. Debt	9 Months Ended
	Sep. 30, 2018
Debt [Abstract]
Debt	5. DEBT  We have a $1,000,000 line of credit with a variable interest rate computed on a 360-day year. The variable interest rate is the higher of either 1) the Prime Rate in effect on such day, 2) Daily One Month LIBOR plus one and one-half percent ( 1.5% ), or 3) the Federal Funds Rate plus one and one-half percent ( 1.5% ). The line of credit agreement requires us to comply with various financial covenants as well as customary affirmative and negative covenants that restrict our ability to, among other things, incur debt and liens, make significant investments, dispose of assets and make distributions without prior consent. The line of credit is secured by accounts receivable. The line of credit contains certain financial covenants, including a fixed charge coverage ratio and a tangible net worth. At September 30, 2018, we were in compliance with all of the financial covenants under the line of credit.  As of September 30, 2018, we had no amount outstanding under the line of credit. 

6. SUBSEQUENT EVENTS

6. SUBSEQUENT EVENTS	9 Months Ended
	Sep. 30, 2018
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS  On October 25, 2018, eXp Realty, LLC, entered into agreement with RealTNow, LLC, whereby eXp Realty, LLC purchased certain technology and intellectual property of the ShowMeNow application to expand our products and service offerings. ShowMeNow is an on-demand, home tour mobile application that enables home shoppers to request immediate access to properties, giving buyers flexible, real-time access to properties. The acquisition was not material.

2. Summary of Significant Acc_2

2. Summary of Significant Accounting Principles (Policies)	9 Months Ended
	Sep. 30, 2018
Summary of Significant Accounting Principles [Abstract]
Principles of Consolidation	Principles of Consolidation  The accompanying unaudited condensed consolidated financial statements include the accounts of eXp World Holdings, Inc., and its subsidiaries. All inter-company accounts and transactions have been eliminated upon consolidation.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The Company regularly evaluates estimates and assumptions related to provisions for doubtful accounts, legal contingencies, income taxes, revenue recognition, stock-based compensation, expense accruals, and deferred income tax asset valuation allowances. The Company bases its estimates and assumptions on current facts, historical experience and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. The actual results experienced by the Company may differ materially and adversely from the Company’s estimates. To the extent there are material differences between the estimates and the actual results, future results of operations will be affected.
Restricted Cash	Restricted Cash  The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the condensed consolidated balance sheet that sums to the total of the same such amounts shown in the statement of cash flows.      September 30, 2018 December 31, 2017  Cash and cash equivalents $ 22,093,710 $ 4,672,034  Restricted cash 2,717,187 923,193  Total cash, cash equivalents, and restricted cash shown in the statement of cash flows $ 24,810,897 $ 5,595,227  We have reclassified certain amounts in prior-period financial statements to conform to the current period’s presentation. In November 2016, the FASB issued ASU No. 2016-18 – Statement of Cash Flows (Topic 240) which changed the classification and presentation of restricted cash on the statement of cash flows. The Company adopted the new standard on January 1, 2018. As a result, restricted cash was reclassified from cash provided from operating activities to cash, cash equivalents and restricted cash on the condensed consolidated statement of cash flows.  For the nine months ended September 30, 2017, the change in restricted cash of $652,405 was reclassified.  Restricted cash consists of cash held in escrow by the Company’s brokers and agents on behalf of real estate buyers. The Company recognizes a corresponding customer deposit liability until the funds are released. Restricted cash totaled $ 2,717,187 and $ 923,193 at September 30, 2018 and December 31, 2017, respectively.
Revenue Recognition	Revenue Recognition  Effective January 1, 2018, the Company adopted the new revenue standard using the modified retrospective application in which the cumulative effect of initially applying the revenue standard is recognized as an adjustment to the opening balance of retained earnings. Adoption of the new standard did not require the Company to make an adjustment to the opening balance.  The Company serves as a licensed broker in the areas in which it operates for the purpose of processing real estate transactions. The Company is contractually obligated to provide for the fulfillment of transfers of real estate between buyers and sellers. The Company provides these services itself and controls the service necessary to legally transfer the real estate. Correspondingly, the Company is defined as the Principal. The Company, as Principal, satisfies its obligation upon the closing of a real estate transaction. As Principal, and upon satisfaction of our obligation, the Company recognized revenue in the gross amount of consideration to which we expect to be entitled to.  Revenue is derived from assisting buyers and sellers in listing, marketing, selling and finding real estate. Commissions earned on real estate transactions are recognized at the completion of a real estate transaction. 
Stock Compensation	Stock Compensation  The Company accounts for all stock ‑based compensation granted to employees and non ‑employees using a fair value method. Stock ‑based compensation awarded to employees is measured at the grant date fair value and is recognized over the requisite service period of the awards, usually the vesting period, on a straight ‑line basis, net of forfeitures. Prior to the adoption of ASU 2018-07 on July 1, 2018 described below in "Recently Adopted Accounting Pronouncements", stock ‑based compensation awarded to non ‑employees under our Real Estate Agent Growth Program and Stock Option Awards Plan was subject to revaluation over its vesting term. Subsequent to the adoption of ASU 2018-07, non-employee share-based payment awards are measured on the date of grant, similar to share-based payment awards granted to employees. The Company reduces recorded stock ‑based compensation for forfeitures when they occur.  The Company early adopted ASU 2018-07 on July 1, 2018, using the modified retrospective method. The reported results for 2018 reflect the application of ASC 718 guidance for non-employee share-based awards while the reported results for 2017 were prepared under the guidance of ASC 505 for non-employee stock-based compensation. The adoption of ASU 2018-07 for non-employee stock-based compensation represents a change in accounting principle that more closely aligns the accounting for stock-based compensation for employee and non-employee share-based payment awards.  The cumulative effect of applying the new guidance to all non-employee share-based payment awards was recorded as an adjustment to accumulated deficit as of the adoption date. As a result of applying the modified retrospective method to adopt the new stock-based compensation guidance, an adjustment of $5.7 million was made to the opening balance of accumulated deficit and additional paid-in capital as of January 1, 2018 .
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements  In February 2016, the FASB issued ASU No. 2016-02 - Leases (Topic 842). Under the new guidance, a lessee is required to recognize lease liabilities and corresponding right-of-use assets, initially measured at the present value of lease payments, on the balance sheet for operating leases with terms greater than one year. Lessor accounting remains largely unchanged from existing lease accounting. For leases with a term of 12 months or less, a lessee is permitted to make an accounting policy election not to recognize lease assets and lease liabilities. If the lessee makes the election, the lessee would recognize lease expense on a straight-line basis over the lease term. This ASU is effective in annual reporting periods beginning after December 15, 2018 and the interim periods within that fiscal year. The Company is still evaluating the potential impacts that the implementation of ASU 2016-02 may have on its financial position, operational results, or cash flows.
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements  In June 2018, the FASB issued ASU No. 2018-07 – Compensation – Stock Compensation (Topic) 718. The ASU was issued as part of its Simplification Initiative to reduce costs and complexities of financial reporting. ASU No. 2018-07 simplifies the accounting for share-based payments granted to nonemployees for goods and services. Under the ASU, most of the guidance on such payments to nonemployees would be aligned with the requirements for share-based payments granted to employees. Currently, share-based payments transactions to nonemployees are measured at fair value and remeasured at each reporting date through the date of final vesting. This ASU changes the guidance related to the determination of the measurement date. Under the new guidance, equity-classified awards would be measured at the grant date. This ASU is effective for fiscal years beginning after December 15, 2018 including interim periods within those fiscal years. Early adoption is permitted if financial statements have not yet been issued. The Company elected to early-adopt ASU No. 2018-07 effective July 1, 2018 using the modified retrospective application with a cumulative-effect adjustment to the opening balance of accumulated deficit and additional paid-in-capital as of the beginning of the fiscal year .  In May 2017, the FASB issued ASU No. 2017-09 - Compensation (Topic 718): Scope of Modification Accounting . The FASB issued guidance to clarify when to account for a change in the terms or conditions of share-based payments awards as a modification. Under the new guidance, modification accounting is required only if the fair value, the vesting conditions or the classification of the award (as equity or liability) changes as a result of the change in terms or conditions. The general model for modifications of share-based payment awards is to record the incremental value arising from the change as additional compensation costs. Previously, judgments about whether certain changes to an award were substantive may have impacted whether or not modification accounting was applied in these situations. The Company adopted the new standard on January 1, 2018. The standard did not have an impact on the Company’s financial position, operational results or cash flows. In November 2016, the FASB issued ASU No. 2016-18 – Statement of Cash Flows (Topic 240). The FASB issued guidance to address the diversity in the classification and presentation of changes in restricted cash on the statement of cash flows under Topic 230, Statement of Cash Flows . The amendments require that a statement of cash flows explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. Amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cashflows. The Company adopted the new standard on January 1, 2018. The standard did not have a material impact on the Company’s financial position, operational results or cash flows. In May 2014, the FASB issued ASU No. 2014-09 - Revenue from Contracts with Customers (Topic 606). The objective of the revenue standard is to provide a single, comprehensive revenue recognition model for all contracts with customers to remove inconsistencies in requirements, provide a robust framework, improve comparability across entities and industries, provide more useful information to users and simplify the preparation of financial statements. The core principle of the revenue standard is that revenue be recognized upon the transfer of goods or services to customers in an amount that reflects the consideration to which we expect to receive in exchange for those goods or services. The new standard permits for two alternative implementation methods, the use of either (1) full retrospective application to each prior reporting presented or (2) modified retrospective application in which the cumulative effect of initially applying the revenue standard is recognized as an adjustment to the opting balance of retained earnings in the period of adoption. The Company adopted the new standard effective January 1, 2018 using the modified retrospective method. Since the Company currently recognizes revenue on a gross basis acting as a principal, upon completion of its performance obligations in the form of a completed residential real estate sale, the new standard did not have a material impact on the Company’s financial position, operational results or cash flows.

2. Summary of Significant Acc_3

2. Summary of Significant Accounting Principles (Tables)	9 Months Ended
	Sep. 30, 2018
Summary of Significant Accounting Principles [Abstract]
Schedule of Cash	The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the condensed consolidated balance sheet that sums to the total of the same such amounts shown in the statement of cash flows.      September 30, 2018 December 31, 2017  Cash and cash equivalents $ 22,093,710 $ 4,672,034  Restricted cash 2,717,187 923,193  Total cash, cash equivalents, and restricted cash shown in the statement of cash flows $ 24,810,897 $ 5,595,227 

3. Fixed Assets, Net (Tables)

3. Fixed Assets, Net (Tables)	9 Months Ended
	Sep. 30, 2018
Fixed Assets, Net [Abstract]
Schedule of Fixed Assets	Fixed assets, net consisted of the following:     As of As of  September 30, 2018 December 31, 2017   Computer hardware and software $ 3,017,136 $ 1,982,749  Furniture, fixture and equipment 5,910 5,910  Total depreciable property and equipment 3,023,046 1,988,659  Less: accumulated depreciation and amortization (1,021,354) (450,446)  Depreciable property, net 2,001,692 1,538,213  Assets under development 317,723 –  Fixed assets, net $ 2,319,415 $ 1,538,213 

4. Stockholders' Equity (Tables

4. Stockholders' Equity (Tables)	9 Months Ended
	Sep. 30, 2018
Stockholders' Equity [Abstract]
Schedule of Restricted Stock Activity	The following table illustrates the Company’s stock activity for the Real Estate Agent Growth Incentive Program for the following periods:      Weighted Average  Shares Fair Value  Balance, December 31, 2016 3,057,879 4.05  Granted 2,024,498 7.60  Issued (1,457,538) 5.27  Forfeited (565,774) 4.76  Balance, December 31, 2017 3,059,065 7.60  Granted 2,052,246 11.58  Issued (554,180) 12.66  Forfeited (391,792) 5.87  Balance, September 30, 2018 4,165,339 11.61 
Schedule of Stock Option Activity	The following table illustrates the Company’s stock option activity for the following periods:      Weighted  Average  Weighted Remaining  Average Contractual Term  Options Exercise Price Intrinsic Value (Years)  Balance, December 31, 2016 10,747,558 $ 0.67 3.56 7.75  Granted 2,848,231 3.76 - 6.15  Exercised (181,572) 0.26 6.86 -  Forfeited (2,540,925) 2.31 3.20 -  Balance, December 31, 2017 10,873,292 $ 1.50 5.08 6.65  Granted 345,000 11.67 6.72 9.29  Exercised (2,256,549) 0.78 12.18 -  Forfeited (311,112) 3.63 9.24 -  Balance, September 30, 2018 8,650,631 $ 1.46 16.93 6.08  Exercisable at September 30, 2018 6,681,491 0.66 13.55 4.20  Vested at September 30, 2018 6,799,066 $ 0.69 13.77 4.31 

1. Basis of Presentation (Narra

1. Basis of Presentation (Narrative) (Details)	9 Months Ended
	Sep. 30, 2018
Basis of Presentation [Abstract]
State of incorporation	State of Delaware
Entity Incorporation, Date of Incorporation	Jul. 30, 2008

2. Summary of Significant Acc_4

2. Summary of Significant Accounting Principles (Schedule of Cash) (Details) - USD ($)	Sep. 30, 2018	Dec. 31, 2017	Sep. 30, 2017	Dec. 31, 2016
Cash and cash equivalents	$ 22,093,710	$ 4,672,034
Restricted cash	2,717,187	923,193
Total cash, cash equivalents, and restricted cash shown in the statement of cash flows	24,810,897	5,595,227	$ 4,482,019	$ 2,166,312
Accumulated deficit	(55,557,542)	(32,596,374)
Additional paid-in capital	79,195,251	$ 36,848,041
Accounting Standards Update 2016-18 [Member]
Total cash, cash equivalents, and restricted cash shown in the statement of cash flows			$ 652,405
ASU 2018-07 | Early adoption
Accumulated deficit	(5,700,000)
Additional paid-in capital	$ 5,700,000

3. Fixed Assets, Net (Narrative

3. Fixed Assets, Net (Narrative) (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Fixed Assets, Net [Abstract]
Depreciation and amortization	$ 240,031	$ 112,487	$ 570,910	$ 207,189

3. Fixed Assets, Net (Schedule

3. Fixed Assets, Net (Schedule of Fixed Assets) (Details) - USD ($)	Sep. 30, 2018	Dec. 31, 2017
Property and equipment, gross	$ 3,023,046	$ 1,988,659
Less: accumulated depreciation and amortization	(1,021,354)	(450,446)
Depreciable property, net	2,001,692	1,538,213
Assets under development	317,723
Fixed assets, net	2,319,415	1,538,213
Computer hardware and software [Member]
Property and equipment, gross	3,017,136	1,982,749
Furniture, fixtures and equipment [Member]
Property and equipment, gross	$ 5,910	$ 5,910

4. Stockholders' Equity (Narrat

4. Stockholders' Equity (Narrative) (Details) - USD ($)	9 Months Ended		12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Common stock issued	58,968,762		54,962,535
Common stock outstanding	58,968,762		54,962,535
Stock issued upon exercise of stock options, shares	2,256,550
Proceeds from exercise of stock options	$ 1,749,896	$ 20,000
Stock awards, unvested	2,064,468
Stock awards, expected to vest	4,165,339
Unrecognized compensation expense	$ 24,531,203
2015 Agent Equity Program [Member]
Stock issued for services, shares	989,098
Stock issued for services, value	$ 14,746,702
2015 Agent Equity Program [Member] | Agents and Brokers [Member]
Stock issued for services, shares	989,098	1,197,422
Stock issued for services, value	$ 14,746,702	$ 3,968,505
Real Estate Agent Growth and Other Incentive Programs [Member]
Stock issued for services, shares	742,842
Stock issued for services, value	$ 16,507,378
Stock Options [Member]
Stock issued upon exercise of stock options, shares	2,256,549		181,572
Stock options granted, shares	345,000		2,848,231
Stock options granted, value	$ 3,318,089
Unrecognized compensation expense - options	$ 7,867,752
Volatility rate - minimum	131.30%
Volatility rate - maximum	153.70%
Risk free rate	2.60%
Dividend payment	$ 0
Maximum [Member] | Stock Options [Member]
Expected term	P10Y
Minimum [Member] | Stock Options [Member]
Expected term	P6Y3M

4. Stockholders' Equity (Schedu

4. Stockholders' Equity (Schedule of Restricted Stock Activity) (Details) - Real Estate Agent Growth and Other Incentive Programs [Member] - $ / shares	9 Months Ended	12 Months Ended
	Sep. 30, 2018	Dec. 31, 2017	Dec. 31, 2016
Restricted Stock Shares
Restricted stock outstanding, beginning balance	3,059,065	3,057,879
Restricted stock granted	2,052,246	2,024,498
Restricted stock issued	(554,180)	(1,457,538)
Restricted stock forfeited	(391,792)	(565,774)
Restricted stock outstanding, ending balance	4,165,339	3,059,065
Weighted Average Fair Value
Weighted average price - Restricted stock outstanding	$ 11.61	$ 7.60	$ 4.05
Weighted average price - Restricted stock granted	11.58	7.60
Weighted average price - Restricted stock issued	12.66	5.27
Weighted average price - Restricted stock forfeited	$ 5.87	$ 4.76

4. Stockholders' Equity (Sche_2

4. Stockholders' Equity (Schedule of Stock Option Activity) (Details) - $ / shares	9 Months Ended	12 Months Ended
	Sep. 30, 2018	Dec. 31, 2017	Dec. 31, 2016
Options
Exercised	(2,256,550)
Stock Options [Member]
Options
Beginning balance	10,873,292	10,747,558
Granted	345,000	2,848,231
Exercised	(2,256,549)	(181,572)
Forfeited	(311,112)	(2,540,925)
Ending balance	8,650,631	10,873,292	10,747,558
Exercisable	6,681,491
Vested	6,799,066
Weighted Average Price
Weighted Average Exercise Price	$ 1.46	$ 1.50	$ 0.67
Granted	11.67	3.76
Exercised	0.78	0.26
Forfeited	3.63	2.31
Exercisable	0.66
Vested	0.69
Intrinsic Value
Intrinsic value	16.93	5.08	$ 3.56
Granted	6.72
Exercised	12.18	6.86
Forfeited	9.24	$ 3.20
Exercisable	13.55
Vested	$ 13.77
Weighted average remaining contractual term
Weighted average contractual term	6 years 29 days	6 years 7 months 24 days	7 years 9 months
Granted	9 years 3 months 15 days	6 years 1 month 24 days
Exercisable	4 years 2 months 12 days
Vested	4 years 3 months 22 days

5. Debt (Narrative) (Details)

5. Debt (Narrative) (Details) - Line of Credit [Member]	9 Months Ended
	Sep. 30, 2018USD ($)
Debt Instrument [Line Items]
Line of credit maximum amount	$ 1,000,000
Debt instrument, interest rate terms	The variable interest rate is the higher of either 1) the Prime Rate in effect on such day, 2) Daily One Month LIBOR plus one and one-half percent (1.5%), or 3) the Federal Funds Rate plus one and one-half percent (1.5%). The line of credit agreement requires us to comply with various financial covenants as well as customary affirmative and negative covenants that restrict our ability to, among other things, incur debt and liens, make significant investments, dispose of assets and make distributions without prior consent.
Debt instrument, covenant compliance	we were in compliance with all of the financial covenants under the line of credit.
Line of credit amount outstanding	$ 0
London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1.50%
Federal Funds Effective Swap Rate [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1.50%