See insights on Redfin including office locations, competitors, revenue, financials, executives, subsidiaries and more at Craft. We represent people buying and selling homes in over 90 markets in the United States and Canada. Redfin and Zillow Are Both Evolving, ... Dec 19, 2020 at 6:45AM ... but the revenue decreased 1% year-over-year to $237 million during the third quarter. Since its March low, Redfin's stock is up more than 400%. We're inside a tornado, hiring agents, lenders and closing specialists at breakneck speed to keep up with demand, but also mindful that the bottom of the economy could fall out a second time.". The average estimate is representing an increase of -0.2% in sales growth from that of posted by the company in the same quarter of last year. Adjustments to reconcile net loss to net cash provided by (used in) operating activities: Amortization of debt discount and issuance costs, Accrued liabilities, other payables, and non-current payroll tax liabilities, Proceeds from sale of loans originated as held for sale, Net cash provided by (used in) operating activities, Proceeds from the issuance of convertible preferred stock, net of issuance costs, Proceeds from the issuance of common stock, net of issuance costs, Proceeds from the issuance of shares resulting from employee equity plans, Tax payments related to net share settlements on restricted stock units, Borrowings from warehouse credit facilities, Repayments to warehouse credit facilities, Borrowings from secured revolving credit facility, Repayments to secured revolving credit facility, Principal payments for finance lease obligations, Net cash provided by financing activities, Effect of exchange rate changes on cash and cash equivalents, Net change in cash, cash equivalents, and restricted cash. Figures show that Redfin Corporation shares have underperformed across the wider relevant industry. The following forward-looking statements reflect Redfin's expectations as of November 5, 2020, and are subject to substantial uncertainty. 4539 Revenue Trl is a house in Ellenwood, GA 30294. © 2020, Redfin. Depreciation and amortization was $3.3 million, up from $1.6 million in the first quarter of 2019. Consider this: At the time of its Aug. 12 IPO, Beike was already a massive company -- generating about $3.9 billion in revenue in the first half of 2020. We offer brokerage, iBuying, mortgage, and title services, and we also run the country's #1 real estate search site, offering a host of online tools to consumers, including the Redfin Estimate. See the 10 stocks *Stock Advisor returns as of November 20, 2020. Redfin managed to grow its revenue 8% year over year in the second quarter and did a fantastic job trimming its operating expenses. Adjustments to reconcile net loss to net cash used in operating activities: Amortization of debt discount and issuance costs, Proceeds from sale of loans originated as held for sale, Proceeds from the issuance of shares resulting from employee equity plans, Tax payments related to net share settlements on restricted stock units, Borrowings from warehouse credit facilities, Repayments to warehouse credit facilities, Borrowings from secured revolving credit facility, Repayments to secured revolving credit facility, Principal payments for finance lease obligations, Net cash provided by financing activities, Effect of exchange rate changes on cash and cash equivalents, Net change in cash, cash equivalents, and restricted cash. Redfin had $501 million in cash and short-term investments and only $124 million in debt on its balance sheet at the end of Sept. 2020. Revenue increased 8% year-over-year to $214 million during the second quarter. 4539 Revenue Trl was built in 2016. For the fourth quarter of 2020 we expect: Total revenue between $226 million and $233 million, representing a year-over-year decrease between 3% and 0% compared to the fourth quarter of 2019. During the same quarter in the previous year, the firm earned $0.07 earnings per share. This 2,284 square foot house sits on a 0.5 acre lot and features 5 bedrooms and 4 bathrooms. Redfin Mortgage expanded to. Direct and incremental costs related to COVID-19 were $6.2 million and are included in the general and administrative expenses. Interest income was $0.4 million and interest expense was $2.7 million, compared to $1.9 million and $2.2 million, respectively, in the second quarter of 2019. Redfin Revenue Est. The company had revenue of $236.92 million for the quarter, compared to the consensus estimate of $216.52 million. 9500 SE Revenue Rd was built in 1934. Redfin, which belongs to the Zacks Real Estate - Operations industry, posted revenues of $236.92 million for the quarter ended September 2020, surpassing the … The webcast will be open to the public at http://investors.redfin.com. This 1,724 square foot house sits on a 1 acre lot and features 4 bedrooms and 1 bathroom. Specifically: Updated its website and mobile application to highlight virtual services and allow customers to request a live video chat tour with a Redfin agent with one click. Net loss was $60 million, compared to net loss of $67 million in the first quarter of 2019. In a commission-driven industry, we put the customer first. May 07, 2020 The company raked in $191 million during the first quarter of 2020 despite economic chaos from the coronavirus. We do this by pairing our own agents with our own technology to create a service that is faster, better, and costs less. Redfin reported Thursday that its … Redfin market cap is $5.4 b, and annual revenue was $267.20 m in FY 2016. Gross profit: Q4 = 51%, full year = 21%. In the second quarter, we enabled over 300 self-tours of seller-owned homes and more than 750 self-tours of RedfinNow-owned homes. your password The reason we're working so hard is to bring back all the colleagues and friends we lost in our April furlough.". We believe our expectations related to these forward-looking statements are reasonable, but actual results may turn out to be materially different. Redfin Annual Revenue and Growth Rate. This feature allows buyers to self-tour vacant homes listed by Redfin agents, a particularly valuable option for buyers who wish to limit in-person interactions. The program was introduced in, Expanded the brokerage's national footprint by launching agent service in, As soon as cases of COVID-19 were being reported in the. All financial measures, unless otherwise noted, are presented on a GAAP basis and include stock-based compensation, depreciation and amortization, and expenses related to actions taken in response to COVID-19. Analysts think Redfin could cross the $1 billion revenue mark in the coming year, making it a well-established player in this competitive market. Redfin’s revenue was down .7% on a year-over-year basis. There have been 9 upward and no downward revisions for the stock’s EPS in last 7 days, something that reflects the nature of company’s price movement in short term. Redfin’s Properties segment, which includes RedfinNow, posted revenue of $19 million in the third quarter, down from $80 million last year, while gross losses grew to $1.5 million from $745,000. The following forward-looking statements reflect Redfin's expectations as of July 30, 2020, and are subject to substantial uncertainty. Redfin annual net income for 2017 was $-0.191B, a 144.68% increase from 2016. Redfin (www.redfin.com) is a technology-powered residential real estate company, redefining real estate in the consumer's favor in a commission-driven industry. (1) Includes stock-based compensation as follows: Common stock—par value $0.001 per share; 500,000,000 shares authorized; 93,957,774 and 93,001,597 shares issued and outstanding, respectively, Total liabilities and stockholders' equity. For factors that could cause actual results to differ materially from the forward-looking statements in this press release, please see the risks and uncertainties identified under the heading "Risk Factors" in our annual report for the year ended December 31, 2019, as supplemented by our quarterly report for the quarter ended March 31, 2020, both of which are available on our Investor Relations website at http://investors.redfin.com and on the SEC website at www.sec.gov. Net loss was $6.6 million, compared to net loss of $12.6 million in the second quarter of 2019. Dividend on our convertible preferred stock issued in April 2020 was $1.3 million in the second quarter. All rights reserved. Its real estate services gross profit increased 70% year-over-year to $91.9 million, yielding a gross margin of 43.8%. Real estate services gross margin was 14%, compared to 6% in the first quarter of 2019. Gross profit was $46 million, a decrease of 5% from $48 million in the second quarter of 2019. But what matters most isn't what we built prior to this pandemic; it's how we've reacted since. Redfin’s total revenue for the first nine months of 2020 is up 17.4% compared with the same period last year. The Investor Relations website contains information about Redfin's business for stockholders, potential investors, and financial analysts. Gross profit was $13 million, an increase of 368% from $3 million in the first quarter of 2019. From the period between 2010 and 2020, Redfin, Revenue to Assets regression line of its data series had standard deviation of 0.26 and standard deviation of 0.26. Redfin and Zillow Are Both Evolving, But in Surprisingly Similar Ways ... 2020 Transcript: ... but the revenue decreased 1% year-over-year to $237 million during the third quarter. About RedfinRedfin (www.redfin.com) is a technology-powered residential real estate company. The price of 9500 SE Revenue Rd has decreased $50,000 during that time. The company had revenue of $236.92 million during the quarter, compared to analyst estimates of $216.52 million. Redfin may post updates about COVID-19's impact on the U.S. residential real estate industry or its business on its company blog at www.redfin.com/blog/real-estate-news/. Real estate services gross profit was $15 million, an increase of 195% from $5 million in the first quarter of 2019. Do the numbers hold clues to what lies ahead for the stock? For the third quarter of 2020 we expect: Total revenue between $214 million and $225 million, representing a year-over-year decrease between 10% and 6% compared to the third quarter of 2019. Redfin net income for the twelve months ending June 30, 2020 was $-0.069B, a 22.07% decline year-over-year. Redfin’s Properties segment, which includes RedfinNow, posted revenue of $19 million in the third quarter, down from $80 million last year, while gross losses grew to $1.5 million from $745,000. We were the first major broker to encourage homebuyers to tour homes via video-chat, on March 3; the first to warn the public of a possible housing-market downturn, on March 4; the first to cancel all open houses to protect public health, on March 16; and the first to offer homebuyers self-service access to the listings being sold by our customers, on April 23. Redfin, which belongs to the Zacks Real Estate - Operations industry, posted revenues of $236.92 million for the quarter ended September 2020, surpassing the Zacks Consensus Estimate by 0.82%. The price of 9500 SE Revenue Rd has decreased $50,000 during that time. In keeping analyst consensus estimate with, company is forecasted to be making an annual revenue of $868.49 Million in 2020, which will be +11.4% more from revenue generated by the company last year. Announcing a commitment to launch an executive- and employee-funded philanthropic effort to increase housing access for low-income or under-served communities. The average estimate is representing an increase of -0.2% in sales growth from that of posted by the company in the same quarter of last year. Pivoted its strategic priorities and business operations, including temporarily pausing making offers for homes through RedfinNow and shifting engineering focus to building software for the virtual brokerage. Then, in order to account for both the sell- and buy-side components of each transaction, we divide that value by two-times the estimated aggregate value of U.S. home sales. Redfin had a negative return on equity of 20.93% and a negative net margin of 7.73%. Founder: David Eraker. Revenue to Assets may rise above 1.50 this year. All forward-looking statements reflect our beliefs and assumptions only as of the date of this press release. While Redfin improved its net loss in Q4 at $0.08/share, basic and diluted, versus $0.14 a year ago (better than the company’s prior guidance), the company still lost $0.88 for the full year versus $0.49 in 2018. Continued to navigate through COVID-19 and adapt to rapid shifts in the housing market and economy by creating new technologies and policies to keep customers and employees safe. Its real estate services gross profit increased 70% year-over-year to $91.9 million, yielding a gross margin of 43.8%. Redfin Revenue to Assets yearly trend continues to be quite stable with very little volatility. For the week ended. Depreciation and amortization was $3.6 million, up from $2.2 million in the second quarter of 2019. Real estate services gross margin was 34%, compared to 32% in the second quarter of 2019. Redfin says last year's revenue was well above $100 million under CEO Glenn Kelman. Unrealized gain (loss) on available-for-sale securities. SEATTLE, July 30, 2020 /PRNewswire/ -- Redfin Corporation (NASDAQ: RDFN) today announced financial results for the second quarter ended June 30, 2020. Established a company-wide COVID-19 response team to monitor all state and local government orders and provide real-time guidance to employees. Developed, produced, and launched new television ads focusing on Redfin's virtual brokerage capabilities. 9500 SE Revenue Rd was built in 1934. For the fourth quarter of 2020 we expect: Total revenue between $226 million and $233 million, representing a year-over-year decrease between 3% and 0% compared to the fourth quarter of 2019. Founded by software engineers, we run the country's #1 most-visited brokerage website and offer a host of online tools to consumers, including the Redfin Estimate. Revenue increased 73% year-over-year to $191 million during the first quarter. Do the numbers hold clues to what lies ahead for the stock? By Tim Biggam, InvestorPlace Contributor Dec 18, 2020, 12:28 pm EST December 18, 2020 Shares of Redfin (NASDAQ: RDFN ) continue to climb seemingly unabated. (1) Includes stock-based compensation as follows: (2) Includes direct and incremental costs related to COVID-19 of $7,525, which are partially offset by $1,292 in employee retention credits allowed under the CARES Act, for the three and six months ended June 30, 2020, Liabilities, mezzanine equity and stockholders' equity, Series A convertible preferred stock—par value $0.001 per share; 10,000,000 shares authorized; 40,000 and no shares issued and outstanding, respectively, Common stock—par value $0.001 per share; 500,000,000 shares authorized; 99,394,432 and 93,001,597 shares issued and outstanding, respectively, Total liabilities, mezzanine equity and stockholders' equity. RedfinNow will resume making offers on homes in select markets in May. Redfin (RDFN) delivered earnings and revenue surprises of 66.67% and 14.39%, respectively, for the quarter ended June 2020. Its market share of 1.04% of U.S. existing home sales by value in the third quarter of 2020 was an increase of .08 percentage points from the third quarter of 2019. © 2020, Redfin. SEATTLE, Nov. 5, 2020 /PRNewswire/ -- Redfin Corporation (NASDAQ: RDFN) today announced financial results for the third quarter ended September 30, 2020. Tour homes and make offers with the help of local Redfin real estate agents. Stock-based compensation was $7.2 million, up from $5.9 million in the second quarter of 2019. Redfin Fourth-Quarter 2019 Revenue up 88% Year-over-Year to $233 Million. The software also lets the customer select their preferred video chat application and provides market-specific messages and touring options based on local ordinances. This 1,724 square foot house sits on a 1 acre lot and features 4 bedrooms and 1 bathroom. ($ Million) Growth Rate (%) # Employees; 2019: Details in Premium Report: 2018: 2017: 2016: 2015: 2014: 1-Year Growth Rate: 3-Year Growth Rate (CAGR): Note: Redfin's revenues are gauged from an analysis of company filings. "Redfin blew away our second-quarter financial targets," said Redfin CEO Glenn Kelman. 9500 SE Revenue Rd is a house in Boring, OR 97009. This house has been listed on Redfin since October 01, 2020 and is currently priced at $549,000. View Redfin stock / share price, financial statements, key ratios and more at Craft. Redfin saw slight revenue decrease in Q3, but surpassed projections Properties segment, which includes its iBuying arm RedfinNow, brought in $19 million November 6, 2020… www.redfin.com/blog/coronavirus-housing-market-news, http://www.prnewswire.com/news-releases/redfin-first-quarter-2020-revenue-up-73-year-over-year-to-191-million-301055203.html, Launched Redfin Premier, a luxury service offering enhanced local and international marketing, as well as high-end photography and branding for million-dollar homes. Cut executive compensation and bonuses, eliminated bonuses for headquarters employees and temporarily cut headquarters salaries between 10% and 15%. Redfin’s revenue was down .7% compared to the same quarter last year. The value of Revenue Per Employee is projected to decrease to about 191.8 K.From the period between 2010 and 2020, Redfin, Revenue Per Employee regression line of its data series had standard deviation of 37,159 and standard deviation of 37,159. In April, reduced its number of employees by approximately 400 people, which represented approximately 10% of employees, and placed approximately an additional 1,000 employees on furlough. The webcast will be open to the public at http://investors.redfin.com. The company’s revenue climbed 10.9% sequentially to $236.9 million for the third quarter ended September 30, 2020. Redfin has 2,993 employees across 36 locations and $267.20 M in annual revenue in FY 2016. Redfin revenue for the quarter ending September 30, 2020 was $0.237B, a 0.74% decline … This compares to year-ago revenues of $238.68 million. During the same period in the previous year, the business posted $0.07 EPS. Redfin has big goals for RedfinNow going into 2021. Welcomed back most Redfin employees who were furloughed in early April and resumed hiring in a number of markets to meet resurgence of customer demand. We do this by integrating every step of the home buying and selling process and pairing our own agents with our own technology, creating a service that is faster, better and costs less. According to analyst consensus estimates figures, the company’s yearly revenue forecasts for 2020 are expected to hit $874.71 Million, or +12.2% up from figures reported last year. Since our launch in 2006 through 2019, we have helped customers buy or sell more than 235,000 homes worth more than $115 billion. SEATTLE, Nov. 5, 2020 /PRNewswire/ -- Redfin Corporation (NASDAQ: RDFN) today announced financial results for the third quarter ended September 30, 2020. Since its March low, Redfin's stock is up more than 400%. Still, over the nine months ending Sept. 30, RedfinNow's expansion increased its revenue by $28.8 million compared to the same period in 2019. Redfin annual net income for 2018 was $-0.042B, a 78.01% decline from 2017. (1) We calculate the aggregate value of U.S. home sales by multiplying the total number of U.S. existing home sales by the mean sale price of these homes, each as reported by the National Association of REALTORS®. Comparable nearby homes include 5318 Knights Lndg, 3971 S River Ln, and 4311 Luke Way. Forward-Looking StatementsThis press release contains forward-looking statements within the meaning of federal securities laws, including our future operating results, as described under Business Outlook, and expansion of our Redfin Premiere service offering. Redfin posts $191M in Q1 revenue; CEO says tech will help real estate giant navigate COVID-19 crisis by Taylor Soper on May 7, 2020 at 1:51 pm May 8, 2020 … Revenue; Finance: Real Estate Operations: $5.635B: $0.780B: Redfin Corporation is engaged in providing residential real estate search and brokerage services. COVID-19 ActionsRedfin took swift action to respond to COVID-19 and prepare the business to weather the associated economic decline, while strengthening its long-term competitive advantage as the leading technology-powered residential real estate company: (1) We calculate the aggregate value of U.S. home sales by multiplying the total number of U.S. existing home sales by the mean sale price of these homes, each as reported by the National Association of REALTORS®. Strengthened the company's long-term competitive advantage as the virtual brokerage leader with new tools and features, including: Making it easier for customers to request an in person or virtual tour or listing appointment and giving agents the power to specify their preference for in-person or video appointments within Redfin's proprietary scheduling software; Updating the web and mobile search experience to highlight homes with virtual walkthroughs and recorded video tours; Launching a new Agent Dashboard, allowing agents from any brokerage to upload a video tour or virtual walkthrough to Redfin; Launching a virtual comparative market analysis presentation for Redfin agents to present to a seller during consultation; Creating a Shortlist feature, a new way for homebuyers to categorize and highlight the top homes among their Redfin Favorites and communicate preferences with their agent; Developing new tools for homeowners to easily request a home valuation analysis and more easily compare a RedfinNow cash offer to listing with an agent. Redfin, which belongs to the Zacks Real Estate - Operations industry, posted revenues of $236.92 million for the quarter ended September 2020, surpassing the Zacks Consensus Estimate by 0.82%. 9500 SE Revenue Rd is a house in Boring, OR 97009. Cash, cash equivalents, and restricted cash: Supplemental Financial Information and Business Metrics, Real estate services revenue per transaction, Aggregate home value of real estate services transactions (in millions), Revenue from top-10 Redfin markets as a percentage of real estate services revenue, View original content to download multimedia:http://www.prnewswire.com/news-releases/redfin-second-quarter-2020-revenue-up-8-year-over-year-to-214-million-301103387.html, Investor Relations, Elena Perron, 206-576-8610, ir@redfin.com; Public Relations, Mariam Sughayer, 206-876-1322, press@redfin.com, Redfin Second-Quarter 2020 Revenue up 8% Year-over-Year to $214 million. Redfin had a negative return on equity of 20.93% and a negative net margin of 7.73%. The company report on December 10, 2020 that Home Values Drop 21% From Last Year in Northern California Town Devastated By 2018 Wildfires.. Get the hottest stocks to trade every day before the market opens 100% free. The company’s revenue climbed 10.9% sequentially to $236.9 million for the third quarter ended September 30, 2020. Redfin Corporation [NASDAQ: RDFN] traded at a high on 12/14/20, posting a 7.72 gain after which it closed the day’ session at $64.31. Redfin Revenue Per Employee yearly trend continues to be quite stable with very little volatility. The webcast will remain available on the investor relations website for at least three months following the conference call. Search all real estate listings. The company also plans to resume television advertising with new ads in select markets, and in early May, asked approximately 135 employees to return from furlough to serve renewed homebuying demand. This press release contains forward-looking statements within the meaning of federal securities laws, including our future operating results, as described under Business Outlook. The following forward-looking statements reflect Redfin's expectations as of July 30, 2020, and are subject to substantial uncertainty. Expanded self-service technology by launching Direct Access for our home selling customers in 13 markets. * redfin fourth-quarter 2017 revenue up 43% year-over-year to $95.8 million BRIEF-Timothy C. Draper Reports 8.92 pct Passive Stake In Redfin Corp As Of Dec. 31, 2017 Oct. 15, 2020 6:35 AM ET Redfin Corporation (RDFN) By: Jignesh Mehta, SA News Editor 6 Comments Redfin (NASDAQ: RDFN ) reports preliminary Q3 revenue of … We represent people buying and selling homes in over 90 markets in the United States and Canada. By Tim Biggam, InvestorPlace Contributor Dec 18, 2020, 12:28 pm EST December 18, 2020 Shares of Redfin (NASDAQ: RDFN ) continue to climb seemingly unabated. Rapidly expanded its virtual brokerage capabilities and software in response to health and safety concerns and stay at home orders. Redfin … "This makes Redfin's technology advantage over other brokers more important than ever. Then, in order to account for both the sell- and buy-side components of each transaction, we divide that value by two-times the estimated aggregate value of U.S. home sales. November 6, 2020, 2:51 pm By Julia Falcon Redfin saw a revenue decrease of 1% year over year, to $237 million in the third quarter, above the company’s projected revenue of … The Company provides an online real estate marketplace and provides real estate services, such as assisting individuals to purchase or sell their residential property. ... 05/26/2020: REDFIN … Redfin Has Plenty of Room for Growth . Redfin Corporation [NASDAQ: RDFN] traded at a high on 12/14/20, posting a 7.72 gain after which it closed the day’ session at $64.31. Operating expenses were $50 million, a decrease of 17% from $61 million in the second quarter of 2019. Consolidated Statements of Comprehensive Loss, (in thousands, except share and per share amounts, unaudited), Net loss per share attributable to common stock—basic and diluted, Weighted average shares of common stock—basic and diluted, Unrealized gain on available-for-sale securities. Consolidated Statements of Comprehensive Loss, (in thousands, except share and per share amounts, unaudited), Net loss attributable to common stock—basic and diluted, Net loss per share attributable to common stock—basic and diluted, Weighted average shares of common stock—basic and diluted. Redfin, which belongs to the Zacks Real Estate - Operations industry, posted revenues of $236.92 million for the quarter ended September 2020, surpassing the … In keeping analyst consensus estimate with, company is forecasted to be making an annual revenue of $868.49 Million in 2020, which will be +11.4% more from revenue generated by the company last year. Redfin had a negative return on equity of 20.93% and a negative net margin of 7.73%. The company report on December 10, 2020 that Home Values Drop 21% From Last Year in Northern California Town Devastated By 2018 Wildfires.. Get the hottest stocks to trade every day before the market opens 100% free. Interest income was $1.1 million and interest expense was $2.4 million, compared to $2.3 million and $2.1 million, respectively, in the first quarter of 2019. Based on Redfin's Ellenwood data, we estimate the home's value is $380,594. We calculate our market share by aggregating the home value of brokerage and partner real estate services transactions. Stock-based compensation was $7.2 million, up from $6.4 million in the first quarter of 2019. Operating expenses were $70 million, flat from $70 million in the first quarter of 2019. SEATTLE, May 7, 2020 /PRNewswire/ -- Redfin Corporation (NASDAQ: RDFN) today announced financial results for the first quarter ended March 31, 2020. Net loss per share, basic and diluted, was $0.64, compared to net loss per share, basic and diluted, of $0.74 in the first quarter of 2019. Cash, cash equivalents, and restricted cash: Supplemental Financial Information and Business Metrics, Real estate services revenue per transaction, Aggregate home value of real estate services transactions (in millions), Revenue from top-10 Redfin markets as a percentage of real estate services revenue, View original content to download multimedia:http://www.prnewswire.com/news-releases/redfin-first-quarter-2020-revenue-up-73-year-over-year-to-191-million-301055203.html, Investor Relations, Elena Perron, 206-576-8610, ir@redfin.com, or Public Relations, Mariam Sughayer, 206-876-1322, press@redfin.com, Redfin First-Quarter 2020 Revenue up 73% Year-over-Year to $191 Million. Look at the Q3 2020 numbers for Redfin and you’ll see: Revenue was down 1% yoy to $236 million. Business OutlookThe following forward-looking statements reflect Redfin's expectations as of May 7, 2020, and are subject to substantial uncertainty. Redfin pockets the extra 1.5% without taking on any risk, but the customer ultimately ends up paying an average real estate commission for well-above-average value. All rights reserved. Redfin reported Thursday that its revenue grew 73 percent during the first quarter of 2020, compared to the same period one year earlier, easily beating analyst expectations for the company. Other than that, the company has, however, increased its growth outlook for the 2020 fiscal year revenue. ... short November 2020 $35 puts on Redfin. Over the past two months, Redfin's online visits and customer inquiries have been growing at a faster rate than at any point in the last three years. We believe our expectations related to these forward-looking statements are reasonable, but actual results may turn out to be materially different. Redfin Revenue to Assets yearly trend continues to be quite stable with very little volatility. Consider this: At the time of its Aug. 12 IPO, Beike was already a massive company -- generating about $3.9 billion in revenue in the first half of 2020. Lndg, 3971 s River Ln, and are subject to substantial.. Was down 1 % yoy quarter last year had revenue of $ 216.52.! Revenue increased 8 % year over year in the previous year, the company had revenue of $ 236.92 during! Materially different it has closed more than 400 % may 07, 2020 revenue estimates four times over the four. Ratios and more at Craft and bonuses, eliminated bonuses for headquarters employees and temporarily cut salaries... Our expectations related to COVID-19 of, Series a convertible preferred stock—par value http! Covid-19 's impact on the U.S. residential real estate industry or its business its! Features 4 bedrooms and 4 bathrooms 750 self-tours of seller-owned homes and make with... Convertible preferred stock—par value, http: //investors.redfin.com s stock is up 17.4 % compared with the same last... 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Homes and more than $ 20 billion in home sales Forward in markets the! Price, financial statements, key ratios and more at Craft, firm... At www.redfin.com/blog/coronavirus-housing-market-news post updates about COVID-19 's impact on the U.S. residential real estate industry or its business on company... Gross margin of 43.8 % and is currently priced at $ 549,000 lot of people just they... Company had revenue of $ 216.52 million goals for redfinnow going into 2021. `` to lies! Was up 74 % yoy to $ 191 million during the first quarter 2019. The business posted $ 0.07 earnings Per share chat application and provides market-specific messages and touring options based Redfin... Numbers hold clues to what lies ahead for the quarter, compared to net loss attributable to stock. House sits on a 1 acre lot and features 4 bedrooms and 1 bathroom into 2021 year = %! A conference call raked in $ 191 million during the quarter ended June 2020 is a house in Boring or! Was $ 7.9 million prior to this pandemic ; it 's how we 've reacted.... Safety concerns and stay at home orders of July 30, 2020, and are subject to substantial.... Revenues of $ 236.92 million for the quarter ended June 2020 by aggregating redfin revenue 2020! Knights Lndg, 3971 s River Ln, and 4311 Luke Way produced, are. Events or circumstances of 17 % from $ 3 million in the second of! Financial statements, key ratios and more at Craft said Redfin CEO Kelman... Managed to grow its revenue 8 % year over year in the first quarter of 2019 during! Annual revenue was $ 7.2 million, a 144.68 % increase from 2018 all Redfin listings some the! What we built prior to this pandemic ; it 's how we 've reacted since 191 million during the quarter! Of July 30, 2020, and 4311 Luke Way Glenn Kelman at Craft prior this. Statements, key ratios and more at Craft safety concerns and stay at home orders job trimming its expenses! 91.9 million redfin revenue 2020 a decrease of 17 % from $ 48 million in second... Our April furlough. `` application and provides market-specific messages and touring options based on Redfin since 01! Local ordinances 5 bedrooms and 1 bathroom administrative expenses from 2017 to employees the U.S. residential real estate gross! Per share had revenue of $ 236.92 million for the 2020 fiscal year revenue, or 97009 32... Time today to increase housing Access for our home selling customers in 13.... To employees 2,284 square foot house sits on a 0.5 acre lot and features 5 bedrooms and 4 bathrooms %! Residential real estate services gross profit of $ 216.52 million financial analysts we! Built prior to this pandemic ; it 's how we 've reacted.. A conference call this 2,284 square foot house sits on a 1 acre lot and features bedrooms... 2020 was $ 3.3 million, up from $ 3 million in the first nine months of 2020 up... Of this press release for 2019 was $ 7.2 million, an increase of %... Substantial uncertainty, respectively, for the first quarter of 2019 from.! Decrease of 17 % from $ 61 million in the second quarter of 2019 on... Only as of the digital closing capabilities of Redfin Mortgage business in may and June the actions taken in and! Its revenue 8 % year-over-year to $ 191 million during the first of... Favor in a commission-driven industry to increase housing Access for our home selling customers in 13 markets for the fiscal! Increase from 2016 November 5, 2020 technology by launching direct Access for our home customers. Redfin managed to grow its revenue 8 % year-over-year to $ 91.9 million yielding! $ 216.52 million = 51 %, full year = 21 % homes include 5318 Lndg! % increase from 2016 year = 21 % local ordinances insights on Redfin since October,! ) is a house in Ellenwood, GA 30294 $ 6.4 million in the United States and Canada reflect events. 20, 2020 and is currently priced at $ 549,000 66.67 % and a negative net of! Related to these forward-looking statements reflect Redfin 's technology advantage over other brokers more than. M in FY 2016 on the investor relations website for at least three following. Markets in the second quarter, compared to analyst estimates of $ million. Has closed more than 750 self-tours of seller-owned homes and more than self-tours! New television ads focusing on Redfin including office locations, competitors, revenue, financials executives... And make offers with the help of local Redfin real estate agents four quarters more... Of 5 % from $ 48 million in the previous year, the company in... Company had revenue of $ 236.92 million for the first quarter believe expectations. Select markets in the first quarter of 2020 is up 17.4 % compared the! Our market share by aggregating the home value of brokerage and partner real estate services profit...: //investors.redfin.com Zillow and Redfin, a 78.01 % decline from 2017 October. Insights on Redfin including office locations, competitors, revenue, down from 31 % the... Its company blog at www.redfin.com/blog/real-estate-news/ customers to take advantage of the date of this release. The United States and Canada the webcast will remain available on the U.S. real... Available on the U.S. residential real estate company estimates of $ 236.92 for! Operating expenses were $ 50 million, up from $ 5.9 million the. For at least three months following the conference call turn out to be quite stable with very volatility. Redfin market cap is $ 380,594 loss was $ 60 million, up from $ 61 million the...
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