Redfin's fourth quarter net loss were better than we projected in our last earnings call. Conference CallRedfin will webcast a conference call to discuss the results at 1:30 p.m. Pacific Time today. Redfin Blows Away Estimates to End 2019, Issues Rosy Outlook for 2020 The Q4 earnings report says technology is driving down both the price and complexity of home buying and Redfin … Redfin stock soars as home sales business powers 39% revenue spike to $197M by Nat Levy on August 1, 2019 at 1:39 pm August 1, 2019 at 2:16 pm Share 60 Tweet Share Reddit Email Real estate services gross profit was $42 million, an increase of 51% from $28 million in the fourth quarter of 2018. Patent pending. Net income per share, basic and diluted, was $0.07, compared to net income per share, basic and diluted, of $0.04 in the third quarter of 2018. For the third quarter, Redfin is forecasting revenue between $223 million and $233 million, which would equal year-over-year growth of between 59% and … Full Year 2019Revenue increased 60% year-over-year to $780 million in 2019. Get the detailed quarterly/annual income statement for Redfin Corporation (RDFN). Stock-based compensation was $7.5 million, up from $5.5 million in the third quarter of 2018. Bloomberg the Company & Its Products The Company & its Products Bloomberg Terminal Demo Request Bloomberg Anywhere Remote Login Bloomberg Anywhere Login Bloomberg Customer Support Customer Support All rights reserved. About RedfinRedfin (www.redfin.com) is a technology-powered residential real estate company. Redfin now charges a 1% listing fee to sellers who also buy their next home with Redfin within 12 months and a 1.5% listing fee to sellers who just sell their home with Redfin. Real estate services gross profit was $54.1 million, an increase of 26% from $43.0 million in the third quarter of 2018. Redfin (RDFN) delivered earnings and revenue surprises of 75.00% and 3.71%, respectively, for the quarter ended September 2019. Operating expenses were 20% of revenue, down from 31% in the fourth quarter of 2018. Real estate services gross margin was 29%, compared to 28% in 2018. Expanded Direct Access from 10 to 13 markets, allowing buyers to tour RedfinNow listings on their own schedule by unlocking the door with a tap on a smartphone. Adjustments to reconcile net loss to net cash (used in) provided by 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 of warehouse credit facilities, Borrowings from secured revolving credit facility, Proceeds from issuance of convertible notes, net of issuance costs, Principal payments under 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. Real estate services gross margin was 32%, compared to 28% in the fourth quarter of 2018. Revenue from traditional brokerage sales was up 36% year over year. We undertake no obligation to update forward-looking statements to reflect future events or circumstances. Operating expenses were 19% of revenue, down from 28% in the third quarter of 2018. We believe our expectations related to these forward-looking statements are reasonable, but actual results may turn out to be materially different. 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. "Our multi-year investments in a broader solution for our customers that includes mortgage, title, renovations and instant offers are really starting to pay off, but what's most important is that we've been able to grow while maintaining our commitment to efficiency, so customers get low prices and Redfin can generate more gross profit.". Launched Direct Access for RedfinNow listings in. The following forward-looking statements reflect Redfin's expectations as of November 6, 2019, and are subject to substantial uncertainty. Revenue decreased 1% year-over-year to $237 million during the third quarter. Redfin saw a revenue decrease of 1% year over year, to $237 million in the third quarter, above the company’s projected revenue of between $214 million and $225 million. (1) Includes stock-based compensation as follows: Redfin Corporation and SubsidiariesConsolidated Balance Sheets(in thousands, except share and per share amounts), Common stock—par value $0.001 per share; 500,000,000 shares authorized; 93,001,597 and 90,151,341 shares issued and outstanding, respectively, Total liabilities and stockholders' equity, Redfin Corporation and SubsidiariesConsolidated Statements of Cash Flows(in thousands). $780 million: Redfin’s revenue for all of 2019. "This was the fourth quarter in a row that our real estate services revenue growth accelerated, and the second quarter in a row that gross margins improved in every segment of our business," said Redfin CEO Glenn Kelman. 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 of warehouse credit facilities, Proceeds from issuance of convertible notes, net of issuance costs, 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. Depreciation and amortization was $9.2 million, up from $8.5 million in 2018. Since our launch in 2006 through 2018, we have helped customers buy or sell more than 170,000 homes worth more than $85 billion. Gross profit was $40 million, an increase of 51% from $26 million in the fourth quarter of 2018. Operating expenses were 29% of revenue, down from 34% in 2018. Introduced a new listing fee to unify our pricing nationwide and reward our most loyal customers with the greatest savings. Redfin revenue for the twelve months ending September 30, 2020 was $0.875B, a 30.42% … Depreciation and amortization was $2.6 million, up from $2.2 million in the third quarter of 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®. Redfin expects third-quarter revenue to surge 59%-66% to between $223 million and $233 million. Patent pending. Real estate services gross profit was $150 million, an increase of 22% from $123 million in 2018. Stock-based compensation was $8.0 million, up from $6.0 million in the fourth quarter of 2018. Gross profit was $144 million, an increase of 21% from $119 million in 2018. All rights reserved. Launched a referral partnership with Opendoor in, Expanded Fast Offers technology to Redfin agents in. Redfin Home Services rolled out a fleet of Redfin-branded vans for our renovation superintendents, further streamlining the process of getting homes ready for the market. Redfin Corporation and SubsidiariesConsolidated Statements of Comprehensive Loss(in thousands, except share and per share amounts), 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. We calculate our market share by aggregating the home value of brokerage and partner real estate services transactions. "We're investing more in better service, but also in disruptive technologies that let people tour and buy homes without an agent. We do this by pairing our own agents with our own technology to create a service that is faster, better, and costs less. For the third quarter of 2019 we expect: Total revenue between $223 million and $233 million , representing year-over-year growth … Reached market share of 0.96% of U.S. existing home sales by value in the third quarter of 2019, an increase of 0.02 percentage points from the second quarter of 2019, and an increase of 0.11 percentage points from the third quarter of 2018. These are big strides toward our long-term goal of redefining real estate in the consumers' favor.". Bloomberg the Company & Its Products The Company & its Products Bloomberg Terminal Demo Request Bloomberg Anywhere Remote Login Bloomberg Anywhere Login Bloomberg Customer Support Customer Support Redfin Stock Soars as Revenue Surges 70% The innovative upstart is taking share of the massive U.S. real estate industry. Operating expenses were $46 million, an increase of 20% from $39 million in the fourth quarter of 2018. The webcast will remain available on the investor relations website for at least three months following the conference call. In a commission-driven industry, we put the customer first. RedfinNow continued expansion, launching in. 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. © 2020, Redfin. 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. All forward-looking statements reflect our beliefs and assumptions only as of the date of this press release. Depreciation and amortization was $2.9 million, up from $2.3 million in the fourth quarter of 2018. "Redfin's third quarter was strong across the board, with accelerating revenues and year-over-year gross-margin gains in every one of our businesses," said Redfin CEO Glenn Kelman. Find out the revenue, expenses and profit or loss over the last fiscal year. http://www.prnewswire.com/news-releases/redfin-third-quarter-2019-revenue-up-70-year-over-year-to-239-million-300953174.html. SEATTLE, Nov. 6, 2019 /PRNewswire/ -- Redfin Corporation today announced financial results for the third quarter ended September 30, 2019. In depth view into Redfin Revenue (TTM) including historical data from 2017, charts, stats and industry comps. 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 Form 10-K for the year ended December 31, 2019, which is available on our Investor Relations website at http://investors.redfin.com and on the SEC website at www.sec.gov. Redfin Fourth-Quarter 2019 Revenue up 88% Year-over-Year to $233 Million SEATTLE - February 12, 2020 - Redfin Corporation (NASDAQ: RDFN) today announced financial results for the fourth quarter and full year ended December 31, 2019 . Bloomberg the Company & Its Products The Company & its Products Bloomberg Terminal Demo Request Bloomberg Anywhere Remote Login Bloomberg Anywhere Login Bloomberg Customer Support Customer Support 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, 2018, as supplemented by our Quarterly Report for the quarter ended September 30, 2019, both of which are available on our Investor Relations website at http://investors.redfin.com and on the SEC website at www.sec.gov. Properties segment revenue between $31 million and $34 million is included in the guidance provided. In a commission-driven industry, we put the customer first. Management is also guiding for net income of $3.4 million to … All financial measures, unless otherwise noted, are presented on a GAAP basis and include stock-based compensation as well as depreciation and amortization expenses. Fourth Quarter 2019Revenue increased 88% year-over-year to $233 million during the fourth quarter. Redfin’s Q3 revenue spikes 70% as it aims to ‘redefine real estate in the consumers’ favor’ by Taylor Soper on November 6, 2019 at 3:04 pm November 8, 2019 at 9:47 am. SEATTLE, May 8, 2019 /PRNewswire/ -- Redfin Corporation today announced financial results for the first quarter ended March 31, 2019. In an effort to arm consumers with as much information as possible, Redfin is now displaying the commission offered to the buyer's agent for homes listed by Redfin. Launched Redfin Direct, a service to help unrepresented buyers make offers on Redfin listings, in major markets across. We believe our expectations related to these forward-looking statements are reasonable, but actual results may turn out to be materially different. The webcast will be open to the public at http://investors.redfin.com. While Redfin's revenue was down, that was partly due to its iBuying stoppage. We represent people buying and selling homes in over 90 markets in the United States and Canada. We calculate our market share by aggregating the home value of brokerage and partner real estate services transactions. For the fourth quarter of 2019 we expect: Total revenue between $211 million and $220 million, representing year-over Revenue increased 70% year-over-year to $239 million during the third quarter. Operating expenses were $45.9 million, an increase of 18% from $39.0 million in the third quarter of 2018. During its last earnings report in August, Redfin also handily beat analysts’ expectations when it revealed it brought in $197.8 million in revenue during the second quarter of 2019. Redfin Logo (PRNewsfoto/Redfin) Fourth Quarter 2019 Revenue increased 88% year-over-year to $233 million during the fourth quarter. Operating expenses were $223 million, an increase of 37% from $163 million in 2018. 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. The company also revealed in its earnings report that it brought in $780 million last year, which represents a jump of 60 percent year-over-year. Net loss per share, basic and diluted, was $0.08, compared to net loss per share, basic and diluted, of $0.14 in the fourth quarter of 2018. Real estate services gross profit was $42 million, an increase of 51% from $28 million in the fourth quarter of 2018. Interest income was $7.1 million and interest expense was $8.9 million, compared to $5.4 million and $3.7 million, respectively, in 2018. All forward-looking statements reflect our beliefs and assumptions only as of the date of this press release. SEATTLE, Feb. 12, 2020 /PRNewswire/ -- Redfin Corporation (NASDAQ:RDFN) today announced financial results for the fourth quarter and full year ended December 31, 2019. Business OutlookThe following forward-looking statements reflect Redfin's expectations as of February 12, 2020, and are subject to substantial uncertainty. 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-third-quarter-2019-revenue-up-70-year-over-year-to-239-million-300953174.html, Investor Relations, Elena Perron, 206-576-8610, ir@redfin.com, Public Relations, Mariam Sughayer, 206-876-1322, press@redfin.com, Redfin Third-Quarter 2019 Revenue up 70% Year-over-Year to $239 Million. The following forward-looking statements reflect Redfin's expectations as of August 1, 2019, and are subject to substantial uncertainty. Stock-based compensation was $28 million, up from $20 million in 2018. Net income was $6.8 million, compared to net income of $3.5 million in the third quarter of 2018. Interest income was $1.6 million and interest expense was $2.3 million, compared to $1.8 million and $1.6 million, respectively, in the third quarter of 2018. Reached market share of 0.94% of U.S. existing home sales by value in the fourth quarter of 2019, an increase of 0.13 percentage points from the fourth quarter of 2018. 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. Our mission is to redefine real estate in the consumer's favor. All financial measures, unless otherwise noted, are... | May 8, 2019 http://www.prnewswire.com/news-releases/redfin-fourth-quarter-2019-revenue-up-88-year-over-year-to-233-million-301003967.html. Redfin (www.redfin.com) is a technology-powered residential real estate company. The following forward-looking statements reflect Redfin's expectations as of February 14, 2019, and are subject to substantial uncertainty. Net loss was $81 million, compared to net loss of $42 million in 2018. It is classified as operating in the Real Estate Agents & Brokers industry. © 2020, Redfin. We continue to work towards our goal of 50% overall as well as prioritizing racial and ethnic diversity because employing a diverse workforce will help us deliver better service to all people. We represent people buying and selling homes in over 90 markets throughout the United States and Canada. The following forward-looking statements reflect Redfin's expectations as of November 6, 2019, and are subject to substantial uncertainty. Net loss was $7.8 million, compared to net loss of $12.2 million in the fourth quarter of 2018. We do this by pairing our own agents with our own technology to create a service that is faster, better, and costs less. SEATTLE, Aug. 1, 2019 /PRNewswire/ -- Redfin Corporation today announced financial results for the second quarter ended June 30, 2019. Cash, cash equivalents, and restricted cash: Redfin Corporation and SubsidiariesSupplemental Financial Information and Business Metrics(unaudited), 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, Redfin Corporation and SubsidiariesSupplemental Financial Information(unaudited, in thousands), View original content to download multimedia:http://www.prnewswire.com/news-releases/redfin-fourth-quarter-2019-revenue-up-88-year-over-year-to-233-million-301003967.html, Investor Relations, Elena Perron, 206-576-8610, ir@redfin.com; Public Relations, Mariam Sughayer, 206-876-1322, press@redfin.com, Redfin Fourth-Quarter 2019 Revenue up 88% Year-over-Year to $233 Million. Condensed Consolidated Statements of Comprehensive Income (Loss), (in thousands, except share and per share amounts, unaudited), Unrealized loss on available-for-sale securities. For the fourth quarter of 2019 we expect: Redfin will webcast a conference call to discuss the results at 1:30 p.m. Pacific Time today. Since our launch in 2006 through 2019, we have helped customers buy or sell more than 235,000 homes worth more than $115 billion. All financial measures, unless otherwise noted, are... | November 6, 2019 Our mission is to redefine real estate in the consumer's favor. Do the numbers hold clues to what lies ahead for the stock? Net loss per share, basic and diluted, was $0.88, compared to net loss per share, basic and diluted, of $0.49 in 2018. This press release contains forward-looking statements within the meaning of federal securities laws, including our future operating results, as described under Business Outlook. 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