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 … Redfin's total revenue for the first nine months of 2020 is up 17.4% compared with the same period last year. Gross profit of $93 million was up 74% yoy. Redfin Annual Revenue and Growth Rate. Redfin managed to grow its revenue 8% year over year in the second quarter and did a fantastic job trimming its operating expenses. 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. Revenue growth: Q4 = 88%, full year = 60%; guidance for Q1 2020 revenue growth = 63 to 71%. 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 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. (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®. During the same period in the previous year, the business posted $0.07 EPS. This 1,724 square foot house sits on a 1 acre lot and features 4 bedrooms and 1 bathroom. 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 do this by pairing our own agents with our own technology to create a service that is faster, better, and costs less. 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. 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. 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. 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. 9500 SE Revenue Rd is a house in Boring, OR 97009. Established a company-wide COVID-19 response team to monitor all state and local government orders and provide real-time guidance to employees. Redfin will webcast a conference call to discuss the results at 1:30 p.m. Pacific Time today. 4539 Revenue Trl is a house in Ellenwood, GA 30294. 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. 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. The company had revenue of $236.92 million during the quarter, compared to analyst estimates of $216.52 million. Its real estate services gross profit increased 70% year-over-year to $91.9 million, yielding a gross margin of 43.8%. We calculate our market share by aggregating the home value of brokerage and partner real estate services transactions. All forward-looking statements reflect our beliefs and assumptions only as of the date of this press release. Patent pending. All rights reserved. The Investor Relations website contains information about Redfin's business for stockholders, potential investors, and financial analysts. 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. 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. 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. 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®. The price of 9500 SE Revenue Rd has decreased $50,000 during that time. 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. Redfin market cap is $5.4 b, and annual revenue was $267.20 m in FY 2016. Operating expenses were $70 million, flat from $70 million in the first quarter of 2019. Revenue increased 73% year-over-year to $191 million during the first quarter. Redfin’s revenue was down .7% on a year-over-year basis. See the 10 stocks *Stock Advisor returns as of November 20, 2020. For the second quarter of 2020 we expect: Total revenue between $179 million and $189 million, representing a year-over-year decrease between 9% … Redfin Has Plenty of Room for Growth . 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. Earned a profit in the Redfin Mortgage business in May and June. 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. During the same quarter in the previous year, the firm earned $0.07 earnings per share. 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. 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. Operating expenses were 24% of revenue, down from 31% in the second quarter of 2019. All financial measures, unless otherwise noted, are presented on a GAAP basis and include stock-based compensation as well as depreciation and amortization expenses. Do the numbers hold clues to what lies ahead for the stock? Stock-based compensation was $7.2 million, up from $5.9 million in the second quarter of 2019. 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. 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 webcast will be open to the public at http://investors.redfin.com. And its net income has increased 403.8% year-over-year to … 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. The following forward-looking statements reflect Redfin's expectations as of July 30, 2020, and are subject to substantial uncertainty. The reason we're working so hard is to bring back all the colleagues and friends we lost in our April furlough.". We undertake no obligation to update forward-looking statements to reflect future events or circumstances. 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. 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 total revenue for the first nine months of 2020 is up 17.4% compared with the same period last year. We undertake no obligation to update forward-looking statements to reflect future events or circumstances. SEATTLE, Nov. 5, 2020 /PRNewswire/ -- Redfin Corporation (NASDAQ: RDFN) today announced financial results for the third quarter ended September 30, 2020. 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. All rights reserved. SEATTLE, July 30, 2020 /PRNewswire/ -- Redfin Corporation (NASDAQ: RDFN) today announced financial results for the second quarter ended June 30, 2020. Redfin Revenue Per Employee yearly trend continues to be quite stable with very little volatility. In response to strengthening homebuying demand in late April, began to unwind some of the actions taken in March and early April. (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. 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. Depreciation and amortization was $3.6 million, up from $2.2 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 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 … The following forward-looking statements reflect Redfin's expectations as of July 30, 2020, and are subject to substantial uncertainty. We represent people buying and selling homes in over 90 markets in the United States and Canada. All forward-looking statements reflect our beliefs and assumptions only as of the date of this press release. Redfin Mortgage expanded to. Redfin had a negative return on equity of 20.93% and a negative net margin of 7.73%. About RedfinRedfin (www.redfin.com) is a technology-powered residential real estate company. Tour homes and make offers with the help of local Redfin real estate agents. 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. Operating expenses were $50 million, a decrease of 17% from $61 million in the second quarter of 2019. This compares to year-ago revenues of $238.68 million. 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. 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. Expanded self-service technology by launching Direct Access for our home selling customers in 13 markets. 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 annual net income for 2018 was $-0.042B, a 78.01% decline from 2017. 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. Redfin … Operating expenses were 37% of revenue, down from 64% in the first quarter of 2019. This house has been listed on Redfin since October 01, 2020 and is currently priced at $549,000. The price of 9500 SE Revenue Rd has decreased $50,000 during that time. Redfin annual net income for 2019 was $-0.081B, a 92.49% increase from 2018. The software also lets the customer select their preferred video chat application and provides market-specific messages and touring options based on local ordinances. The company had revenue of $236.92 million for the quarter, compared to analysts’ expectations of $216.52 million. 9500 SE Revenue Rd is a house in Boring, OR 97009. The webcast will remain available on the investor relations website for at least three months following the conference call. The company had revenue of $236.92 million for the quarter, compared to the consensus estimate of $216.52 million. 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. 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. 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. Look at the Q3 2020 numbers for Redfin and you’ll see: Revenue was down 1% yoy to $236 million. Redfin has big goals for RedfinNow going into 2021. Redfin Revenue to Assets yearly trend continues to be quite stable with very little volatility. This press release contains forward-looking statements within the meaning of federal securities laws, including our future operating results, as described under Business Outlook. Real estate services gross margin was 14%, compared to 6% in the first quarter of 2019. We believe our expectations related to these forward-looking statements are reasonable, but actual results may turn out to be materially different. This house has been listed on Redfin since October 01, 2020 and is currently priced at $549,000. 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. 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 following forward-looking statements reflect Redfin's expectations as of July 30, 2020, and are subject to substantial uncertainty. Net loss attributable to common stock was $7.9 million. Gross profit was $13 million, an increase of 368% from $3 million in the first quarter of 2019. Log into your account. 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. 9500 SE Revenue Rd was built in 1934. your username. 4539 Revenue Trl was built in 2016. 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'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.". Redfin (RDFN) delivered earnings and revenue surprises of 66.67% and 14.39%, respectively, for the quarter ended June 2020. Redfin's total revenue for the first nine months of 2020 is up 17.4% compared with the same period last year. (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. 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. Cut executive compensation and bonuses, eliminated bonuses for headquarters employees and temporarily cut headquarters salaries between 10% and 15%. 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 … The webcast will be open to the public at http://investors.redfin.com. In the second quarter, we enabled over 300 self-tours of seller-owned homes and more than 750 self-tours of RedfinNow-owned homes. Redfin Revenue Per Employee yearly trend continues to be quite stable with very little volatility. Founder: David Eraker. your password And its net income has increased 403.8% year-over-year to … The company’s revenue climbed 10.9% sequentially to $236.9 million for the third quarter ended September 30, 2020. We believe our expectations related to these forward-looking statements are reasonable, but actual results may turn out to be materially different. 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 says last year's revenue was well above $100 million under CEO Glenn Kelman. Developed, produced, and launched new television ads focusing on Redfin's virtual brokerage capabilities. And there are still so many firsts ahead of us. Redfin (RDFN) delivered earnings and revenue surprises of 66.67% and 14.39%, respectively, for the quarter ended June 2020. May 07, 2020 The company raked in $191 million during the first quarter of 2020 despite economic chaos from the coronavirus. 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%. 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. Announcing a commitment to launch an executive- and employee-funded philanthropic effort to increase housing access for low-income or under-served communities. Redfin, which belongs to the Zacks Real Estate - Operations industry, posted revenues of $236.92 million for the quarter ended September 2020, surpassing the … This 1,724 square foot house sits on a 1 acre lot and features 4 bedrooms and 1 bathroom. 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. SEATTLE, Nov. 5, 2020 /PRNewswire/ -- Redfin Corporation (NASDAQ: RDFN) today announced financial results for the third quarter ended September 30, 2020. "Real estate commerce has probably virtualized itself more in the past two months than it had in the prior 20 years," said Redfin CEO Glenn Kelman. 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. Encouraged customers to take advantage of the digital closing capabilities of Redfin Mortgage and Title Forward in markets where the law allows them. SEATTLE - February 12, 2020 - Redfin Corporation (NASDAQ: RDFN) today announced financial results for the fourth quarter and full year ended December 31, 2019. 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 has 2,993 employees across 36 locations and $267.20 M in annual revenue in FY 2016. Redfin annual net income for 2017 was $-0.191B, a 144.68% increase from 2016. 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. 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. Www.Redfin.Com ) is a technology-powered residential real estate services gross profit was 3.6... Most is n't what we built prior to this pandemic ; it how... Redfin net income for 2017 was $ -0.042B, redfin revenue 2020 decrease of 5 from! Were 37 % of revenue, down from 31 % in the second quarter of 2019 of. 20, 2020, and launched new television ads focusing on Redfin 2020 the company has consensus. People just assume they 're the same quarter in the first quarter from 64 % in the first.... 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