SEGMENT INFORMATION

12 Months Ended

Dec. 31, 2019

SEGMENT INFORMATION [Abstract]

SEGMENT INFORMATION

16.     SEGMENT INFORMATION

Historically, management has not made operating decisions and assessed performance based on geographic locations.  Rather, the chief operating decision maker makes operating decisions and assesses performance based on the products and services of our identified operating segments.  While management does consider real estate and brokerage services, the acquired technology and affiliated services provided to be identified operating segments, the profits and losses and assets of the acquired technology and affiliated series are not material.   

Operating Segments

The Company primarily operates as a cloud-based real estate brokerage.  The real estate brokerage business represents 99.9% and 95.8% of the total revenue and total assets, respectively, of the Company as of December 31, 2019.

In November 2018, the Company acquired substantially all of the assets of VirBELA, a virtual reality software platform.  The Company offers software subscriptions to customers to access our virtual reality software platform.  Additionally, the Company offers professional services for implementation and consulting services.  However, as VirBELA is still primarily used as an internal resource for our operations, the operations and assets of VirBELA are not managed by the Company’s chief operating decision-maker as a separate reportable segment. 

Services provided through our First Cloud and eXp Silverline ventures are in the emerging stages of development as contributing segments and are not material to the Company’s total revenue, total, loss or total assets as of December 31, 2019.

The Company aggregates the identified operating segments for reporting purposes.

Geographical Information

The Company primarily operates within the real estate brokerage markets in the United States and Canada. During the fourth quarter, the Company expanded operations into the UK and Australia.

The Company’s management analyzes geographical locations on a forward-looking basis to identify growth opportunities.  For the year ended December 31, 2019, approximately 3% of the Company’s total net revenue was generated outside of the U.S. Assets held outside of the U.S. as of December 31, 2019 and 2018 were 9% and 3%, respectively.

The Company’s technology services and affiliated services are currently provided only in the U.S.