CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
OPERATING ACTIVITIES
Net income (loss)	$ (22,714)	$ (21,267)	$ (8,973)
Reconciliation of net income (loss) to net cash provided by operating activities:
Depreciation expense	6,870	7,835	8,352
Amortization expense - intangible assets	2,692	2,454	2,540
Impairment expense		4,930	9,203
Loss on disposition of business		266	472
Allowance for credit losses on receivables/bad debt on receivables	1,101	(615)	(1,711)
Equity in loss of unconsolidated affiliates	281	1,168	1,388
Agent growth incentive stock-based compensation expense	38,364	37,265	43,178
Stock option compensation	6,466	7,975	10,736
Agent equity stock-based compensation expense	98,149	111,278	135,226
Deferred income taxes, net	(1,736)	(6,521)	(2,666)
Changes in operating assets and liabilities:
Accounts receivable	(21,098)	(1,704)	3,474
Prepaids and other assets	(2,875)	3,041	(1,263)
Customer deposits	1,544	11,110	6,761
Accounts payable	4,135	1,690	(1,491)
Accrued expenses	21,810	(1,445)	8,424
Long term payable			(4,677)
Litigation contingency	(17,000)	34,000
Other operating activities	2,622	54	158
NET CASH PROVIDED BY OPERATING ACTIVITIES	118,611	191,514	209,131
INVESTING ACTIVITIES
Purchases of property and equipment	(9,569)	(6,483)	(5,363)
Purchase of business		(6,150)
Proceeds from sale of business			330
Investments in unconsolidated affiliates	(13,246)	(5,447)	(5,876)
Capitalized software development costs in intangible assets	(657)	(1,390)	(2,594)
NET CASH USED IN INVESTING ACTIVITIES	(23,472)	(19,470)	(13,503)
FINANCING ACTIVITIES
Repurchase of common stock	(56,199)	(141,121)	(160,550)
Proceeds from exercise of options	434	2,012	4,980
Transactions with noncontrolling interests		(1,169)
Dividends declared and paid	(30,773)	(30,099)	(28,519)
NET CASH USED IN FINANCING ACTIVITIES	(86,538)	(170,377)	(184,089)
Effect of changes in exchange rates on cash, cash equivalents and restricted cash	4,274	(2,972)	(38)
Net change in cash, cash equivalents and restricted cash	12,875	(1,305)	11,501
Cash, cash equivalents and restricted cash, beginning balance	168,588	169,893
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, ENDING BALANCE	181,463	168,588	169,893
Cash, cash equivalents and restricted cash, beginning balance		170,884	159,383
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, ENDING BALANCE			170,884
SUPPLEMENTAL DISCLOSURE OF CASH FLOWS INFORMATION:
Cash paid for income taxes	$ 4,597	$ 2,694	2,731
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:
Termination of lease obligation - operating lease			859
Contingent consideration for disposition of business			1,209
Property, plant and equipment increase due to transfer of right-of-use lease asset			1,100
Property and equipment purchases in accounts payable			$ 63

eXp World Holdings, Inc. 10-K