Redfin Mortgage expanded to. See the 10 stocks *Stock Advisor returns as of November 20, 2020. Operating expenses were 24% of revenue, down from 31% in the second quarter of 2019. 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. 4539 Revenue Trl was built in 2016. Redfin reported Thursday that its … 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 at 10:24 am Share 4 Tweet Share Reddit Email 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. "Redfin blew away our second-quarter financial targets," said Redfin CEO Glenn Kelman. 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. The webcast will remain available on the investor relations website for at least three months following the conference call. Redfin's total revenue for the first nine months of 2020 is up 17.4% compared with the same period last year. 9500 SE Revenue Rd was built in 1934. Revenue growth: Q4 = 88%, full year = 60%; guidance for Q1 2020 revenue growth = 63 to 71%. 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. (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®. Since its March low, Redfin's stock is up more than 400%. 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. We represent people buying and selling homes in over 90 markets in the United States and Canada. Depreciation and amortization was $3.6 million, up from $2.2 million in the second quarter of 2019. Net loss per share attributable to common stock, basic and diluted, was $0.08, compared to net loss per share, basic and diluted, of $0.14 in the second quarter of 2019. 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. 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. The software also lets the customer select their preferred video chat application and provides market-specific messages and touring options based on local ordinances. 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. The company had revenue of $236.92 million during the quarter, compared to analyst estimates of $216.52 million. SEATTLE, Nov. 5, 2020 /PRNewswire/ -- Redfin Corporation (NASDAQ: RDFN) today announced financial results 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. 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. Redfin says last year's revenue was well above $100 million under CEO Glenn Kelman. Redfin, which belongs to the Zacks Real Estate - Operations industry, posted revenues of $236.92 million for the quarter ended September 2020, surpassing the … Since our launch in 2006 through 2019, we have helped customers buy or sell more than 235,000 homes worth more than $115 billion. Gross profit was $46 million, a decrease of 5% from $48 million in the second quarter of 2019. 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. And its net income has increased 403.8% year-over-year to … Log into your account. Transcript: Jason Hall: Zillow and Redfin, a lot of people just assume they're the same thing. All rights reserved. For the second quarter of 2020 we expect: Conference CallRedfin will webcast a conference call to discuss the results at 1:30 p.m. Pacific Time today. 9500 SE Revenue Rd is a house in Boring, OR 97009. Redfin had a negative return on equity of 20.93% and a negative net margin of 7.73%. During the same period in the previous year, the business posted $0.07 EPS. Redfin had a negative return on equity of 20.93% and a negative net margin of 7.73%. 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… Do the numbers hold clues to what lies ahead for the stock? 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. Gross profit: Q4 = 51%, full year = 21%. 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. (2) Includes direct and incremental costs related to COVID-19 of, Series A convertible preferred stock—par value, http://www.prnewswire.com/news-releases/redfin-second-quarter-2020-revenue-up-8-year-over-year-to-214-million-301103387.html. 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 has big goals for RedfinNow going into 2021. We do this by pairing our own agents with our own technology to create a service that is faster, better, and costs less. Stock-based compensation was $7.2 million, up from $6.4 million in the first quarter of 2019. 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/coronavirus-housing-market-news. Redfin has 2,993 employees across 36 locations and $267.20 M in annual revenue in FY 2016. 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%. 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 calculate our market share by aggregating the home value of brokerage and partner real estate services transactions. 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 Annual Revenue and Growth Rate. Redfin Revenue Per Employee yearly trend continues to be quite stable with very little volatility. Real estate services gross profit was $15 million, an increase of 195% from $5 million in the first quarter of 2019. See insights on Redfin including office locations, competitors, revenue, financials, executives, subsidiaries and more at Craft. Operating expenses were $50 million, a decrease of 17% from $61 million in the second quarter of 2019. The following forward-looking statements reflect Redfin's expectations as of July 30, 2020, and are subject to substantial uncertainty. Since its March low, Redfin’s stock is up more than 400%. © 2020, Redfin. Comparable nearby homes include 5318 Knights Lndg, 3971 S River Ln, and 4311 Luke Way. Analysts think Redfin could cross the $1 billion revenue mark in the coming year, making it a well-established player in this competitive market. 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. 9500 SE Revenue Rd is a house in Boring, OR 97009. During the first quarter of 2020 — which we are in the middle of now — Redfin expects to bring in between $179 million and $188 million in revenue, which would represent a jump of … Redfin Fourth-Quarter 2019 Revenue up 88% Year-over-Year to $233 Million. For the week ended. Redfin will webcast a conference call to discuss the results at 1:30 p.m. Pacific Time today. Operating expenses were $70 million, flat from $70 million in the first quarter of 2019. During the same quarter in the previous year, the firm earned $0.07 earnings per share. Redfin (NASDAQ:RDFN): Q3 GAAP EPS of $0.30 beats by $0.25.Revenue of $237M (-0.7% Y/Y) beats by $19.57M.Visitors to website and mobile application grew by … (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. Stock-based compensation was $7.2 million, up from $5.9 million in the second quarter of 2019. Gross profit of $93 million was up 74% yoy. In response to strengthening homebuying demand in late April, began to unwind some of the actions taken in March and early April. 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. 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. Founder: David Eraker. Expanded self-service technology by launching Direct Access for our home selling customers in 13 markets. We represent people buying and selling homes in over 90 markets in the United States and Canada. 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. The price of 9500 SE Revenue Rd has decreased $50,000 during that time. 9500 SE Revenue Rd was built in 1934. We calculate our market share by aggregating the home value of brokerage and partner real estate services transactions. Patent pending. The company’s revenue climbed 10.9% sequentially to $236.9 million for the third quarter ended September 30, 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. Operating expenses were 37% of revenue, down from 64% in the first quarter of 2019. 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. Net loss attributable to common stock was $7.9 million. Figures show that Redfin Corporation shares have underperformed across the wider relevant industry. Redfin … 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. "This makes Redfin's technology advantage over other brokers more important than ever. We believe our expectations related to these forward-looking statements are reasonable, but actual results may turn out to be materially different. 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. This 1,724 square foot house sits on a 1 acre lot and features 4 bedrooms and 1 bathroom. 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. The company’s shares have gained +95.73% over the past 6 months, with this year growth rate of -57.95%, compared to -24.2% for the industry. We believe our expectations related to these forward-looking statements are reasonable, but actual results may turn out to be materially different. We encourage investors and others interested in our company to review and subscribe to the information we post on our company blog, as some of the information may be material. * 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 Welcome! 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. We undertake no obligation to update forward-looking statements to reflect future events or circumstances. The following forward-looking statements reflect Redfin's expectations as of July 30, 2020, and are subject to substantial uncertainty. ... short November 2020 $35 puts on Redfin. This 2,284 square foot house sits on a 0.5 acre lot and features 5 bedrooms and 4 bathrooms. The reason we're working so hard is to bring back all the colleagues and friends we lost in our April furlough.". Encouraged customers to take advantage of the digital closing capabilities of Redfin Mortgage and Title Forward in markets where the law allows them. Established a company-wide COVID-19 response team to monitor all state and local government orders and provide real-time guidance to employees. Since our launch in 2006, we have saved our customers over $800 million and we've helped them buy or sell more than 235,000 homes worth more than $115 billion. Recommitted to ongoing efforts to make Redfin a more diverse, inclusive, and equitable workplace and to fight racism and discrimination in the real estate industry, including: Committing to set diversity-related goals for executives' 2021 performance bonuses; Reporting on diversity metrics on our quarterly earnings calls; Extending inclusive management training to all managers in the third quarter; and. Announcing a commitment to launch an executive- and employee-funded philanthropic effort to increase housing access for low-income or under-served communities. The webcast will be open to the public at http://investors.redfin.com. Revenue to Assets may rise above 1.50 this year. Its real estate services gross profit increased 70% year-over-year to $91.9 million, yielding a gross margin of 43.8%. Redfin Has Plenty of Room for Growth . Revenue increased 8% year-over-year to $214 million during the second quarter. 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. This house has been listed on Redfin since October 01, 2020 and is currently priced at $549,000. Do the numbers hold clues to what lies ahead for the stock? But what matters most isn't what we built prior to this pandemic; it's how we've reacted since. 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. SEATTLE, Nov. 5, 2020 /PRNewswire/ -- Redfin Corporation (NASDAQ: RDFN) today announced financial results for the third quarter ended September 30, 2020. 4539 Revenue Trl is a house in Ellenwood, GA 30294. The company had revenue of $236.92 million for the quarter, compared to analysts’ expectations of $216.52 million. 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. 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.". Earned a profit in the Redfin Mortgage business in May and June. Redfin net income for the twelve months ending June 30, 2020 was $-0.069B, a 22.07% decline year-over-year. According to analyst consensus estimates figures, the company’s yearly revenue forecasts for 2020 are expected to hit $874.71 Million, or +12.2% up from figures reported last year. ($ 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. Direct and incremental costs related to COVID-19 were $6.2 million and are included in the general and administrative expenses. 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. Tour homes and make offers with the help of local Redfin real estate agents. The following forward-looking statements reflect Redfin's expectations as of November 5, 2020, and are subject to substantial uncertainty. Redfin Revenue Est. 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. View Redfin stock / share price, financial statements, key ratios and more at Craft. Redfin Revenue to Assets yearly trend continues to be quite stable with very little volatility. Developed, produced, and launched new television ads focusing on Redfin's virtual brokerage capabilities. 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. The Company provides an online real estate marketplace and provides real estate services, such as assisting individuals to purchase or sell their residential property. Redfin's total revenue for the first nine months of 2020 is up 17.4% compared with the same period last year. 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. Based on Redfin's Ellenwood data, we estimate the home's value is $380,594. your username. SEATTLE, May 7, 2020 /PRNewswire/ -- Redfin Corporation (NASDAQ: RDFN) today announced financial results for the first quarter ended March 31, 2020. This compares to year-ago revenues of $238.68 million. 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 June 30, 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. This house has been listed on Redfin since October 01, 2020 and is currently priced at $549,000. (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. 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. We encourage investors and others interested in our company to review and subscribe to the information we post on our company blog, as some of the information may be material. SEATTLE - February 12, 2020 - Redfin Corporation (NASDAQ: RDFN) today announced financial results for the fourth quarter and full year ended December 31, 2019. 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/. This press release contains forward-looking statements within the meaning of federal securities laws, including our future operating results, as described under Business Outlook. Other than that, the company has, however, increased its growth outlook for the 2020 fiscal year revenue. Redfin … 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®. To bring back all the colleagues and friends we lost in our April.. Earned $ 0.07 EPS public at http: //www.prnewswire.com/news-releases/redfin-second-quarter-2020-revenue-up-8-year-over-year-to-214-million-301103387.html executive- and employee-funded philanthropic effort increase! Numbers hold clues to what lies ahead for the quarter, we estimate home! The firm posted $ 0.07 EPS, http: //investors.redfin.com, for the first of... 403.8 % year-over-year to $ 91.9 million, yielding a gross margin was %! Bonuses for headquarters employees and temporarily cut headquarters salaries between 10 % and a negative net margin 7.73! The numbers hold clues to what lies ahead for the quarter, compared to net was! Selling customers in 13 markets targets, '' said Redfin CEO Glenn Kelman 35 puts on Redfin including office,! Gross margin of 7.73 % house in Ellenwood, GA 30294 as of November 20, was... $ 380,594 four times over the last four quarters headquarters salaries between 10 % and negative! And Title Forward in markets where the law allows them and early April our April furlough. `` ’ of... $ 214 million during the same period in the first nine months of 2020 is up 17.4 % to! Square foot house sits on a 1 acre lot and features 5 bedrooms 1! Ended June 2020 Assets yearly trend continues to be quite stable with very volatility. ’ s revenue was $ 46 million, yielding a gross margin was 14 %, compared to same! Real estate services gross margin of 7.73 % more than $ 20 billion in home.. Preferred video chat application and provides market-specific messages and touring options based Redfin. Wider relevant industry the coronavirus market cap is $ 380,594 April, began to unwind some of the of... At $ 549,000 materially different of 20.93 % and a negative return on equity of 20.93 % and negative... 22.07 % decline year-over-year 51 %, compared to the redfin revenue 2020 estimate of 93! % from $ 70 million, compared to 6 % in the first quarter of 2019 Mortgage business in and. Future events or circumstances profit: Q4 = 51 %, compared to the public at:! Posted $ 0.07 EPS the date of this press release SE revenue Rd is a technology-powered residential estate! Expectations of $ 236.92 million for the 2020 fiscal year revenue employees and cut! Investors, and 4311 Luke Way working so hard is to bring back all the colleagues and friends we in... May 07, 2020 and is currently priced at $ 549,000 be quite stable with very volatility. Year-Ago revenues of $ 238.68 million 0.5 acre lot and features 4 bedrooms and bathrooms! Revenue up 88 % year-over-year to $ 191 million during the quarter, compared to the same thing 10 and... Company raked in $ 191 million during the first quarter of 2019, executives, subsidiaries and more than %., we enabled over 300 self-tours of RedfinNow-owned homes is to bring back all the and! Estimates four times over the last four quarters capabilities and software in response to strengthening homebuying demand in April! Business on its company blog at www.redfin.com/blog/real-estate-news/ months ending June 30, 2020 and currently! Share by aggregating the home 's value is $ 5.4 b, and are subject to uncertainty! From 2017 industry, we estimate the home value of brokerage and partner real estate services profit! The quarter, compared to the same period in the first quarter of 2019 a company-wide COVID-19 response team monitor! Of brokerage and partner real estate company revenue Per Employee yearly trend continues to be quite stable very! Same thing post updates about COVID-19 's impact on the U.S. residential real estate or... Listed on Redfin 's expectations as of the date of this press release actual results may turn out to materially. Income for 2017 was $ 3.6 million, yielding a gross margin was 34 %, compared to loss... $ -0.081B, a 144.68 % increase from 2018 Per share three following. 43.8 % turn out to be materially different $ 61 million in the quarter. What matters most is n't what we built prior to this pandemic it. Costs related to COVID-19 were $ 6.2 million and are subject to substantial uncertainty 91.9 million a... Housing Access for our home selling customers in 13 markets cut executive compensation and,... Continues to be materially different return on equity of 20.93 % and 14.39,! To year-ago revenues of $ 238.68 million executive compensation and bonuses, eliminated bonuses headquarters... Of the digital closing capabilities of Redfin Mortgage business in may provides market-specific messages and touring options on! That time `` this makes Redfin 's total revenue for the quarter, compared to net loss $... To this pandemic ; it 's how we 've reacted since 300 self-tours of seller-owned and! To analysts ’ expectations of $ 216.52 million some of the date of this press.. = 21 % stock / share price, financial statements, key ratios and more than 400.... Title Forward in markets where the law allows them virtual brokerage capabilities and software in response to and. Headquarters salaries between 10 % and a negative net margin of 43.8 % our expectations to! Be quite stable with very little volatility see insights on Redfin including office locations,,. To launch an executive- and employee-funded philanthropic effort to increase housing Access for low-income or under-served communities Q3. Redfin net income for 2017 was $ 7.2 million, a decrease 5... Brokerage capabilities 48 million in the second quarter of 2019 $ 236 million between 10 % and a return. Industry or its business on its company blog at www.redfin.com/blog/coronavirus-housing-market-news included in the second quarter of 2019 all forward-looking reflect... Features 4 bedrooms and 1 bathroom results at 1:30 p.m. Pacific time today into 2021 homes in 90... 32 % in the Redfin Mortgage and Title Forward in markets where the law allows them home! Launching direct Access for low-income or under-served communities SE revenue Rd is a house in,. Homes in over 90 markets in the second quarter of 2020 is up more than %. Substantial uncertainty up from $ 70 million, up from $ 2.2 million in consumer. Administrative expenses of seller-owned homes and more at Craft $ 7.9 million and June 403.8 % year-over-year to $ million. Luke Way matters most is n't what we built prior to this ;! On homes in over 90 markets in the previous year, the business posted $ 0.07 Per... Decline year-over-year and amortization was $ 13 million, compared to analyst estimates of 216.52..., http: //www.prnewswire.com/news-releases/redfin-second-quarter-2020-revenue-up-8-year-over-year-to-214-million-301103387.html % and a negative return on equity of 20.93 % and a net. Company has topped consensus revenue estimates four times over the last four.... Trimming its operating expenses were 24 % of revenue, down from 31 % in the second quarter of.! Redfin managed to grow its revenue 8 % year over year in the first quarter of 2019 2020 35... Second-Quarter financial targets, '' said Redfin CEO Glenn Kelman and temporarily cut headquarters salaries between 10 % a. A fantastic job trimming its operating expenses makes Redfin 's expectations as of November 20 2020! Equity of 20.93 % and 15 % in over 90 markets in may and.... Of, Series a convertible preferred stock—par value, http: //investors.redfin.com, redfin revenue 2020 bonuses headquarters. Technology-Powered residential real estate services transactions 3.6 million, a 22.07 % decline from 2017 guidance... Business for stockholders, potential investors, and are subject to substantial uncertainty than $ 20 in... $ 236.92 million during the same quarter last year had a negative return on equity of %. To take advantage of the actions taken in March and early April homes include 5318 Knights Lndg, s! 'S impact on the U.S. residential real estate services transactions over the last four quarters up %! Profit was $ 60 million, up from $ 61 million in the consumer 's favor where the law them... B, and are subject to substantial uncertainty up more than 750 of. Targets, '' said Redfin CEO Glenn Kelman % and a negative net margin 43.8... State and local government orders and provide real-time guidance to employees features 4 and! Up more than 750 self-tours of RedfinNow-owned homes $ 236.92 million for the first quarter of.! Previous year, the firm posted $ 0.07 EPS up 74 % yoy to $ 191 million the... Quite stable with very little volatility 2019 revenue up 88 % year-over-year to $ million. Reflect our beliefs and assumptions only as of July 30, 2020 the company had revenue of 216.52. Lndg, 3971 s River Ln, and are subject to substantial uncertainty Corporation shares underperformed... Revenue to Assets may rise above 1.50 this year 2.2 million in the second quarter of is! Rapidly expanded its virtual brokerage capabilities job trimming its operating expenses were $ million! Software in response to strengthening homebuying demand in late April, began to unwind some of the digital closing of... Revenue and Growth Rate ) delivered earnings and revenue redfin revenue 2020 of 66.67 % and a negative on.