Operating expenses were $223 million, an increase of 37% from $163 million in 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 Patent pending. 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. Operating expenses were 19% of revenue, down from 28% in the third quarter of 2018. (1) Includes stock-based compensation as follows: Borrowings under warehouse credit facilities, Common stock—par value $0.001 per share; 500,000,000 shares authorized; 92,212,316 and 90,151,341 shares issued and outstanding, respectively, Total liabilities and stockholders' equity, Condensed Consolidated Statements of Cash Flows. 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. 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. Revenue decreased 1% year-over-year to $237 million during the third quarter. Other software released in the fourth quarter includes a new listings activation form that makes it simple for listing coordinators to collect all the necessary information about each home in one place, making it easier to take a listing live on the market. 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. Operating expenses were $45.9 million, an increase of 18% from $39.0 million in the third quarter of 2018. Condensed Consolidated Statements of Comprehensive Income (Loss), (in thousands, except share and per share amounts, unaudited), Unrealized loss on available-for-sale securities. Operating expenses were 20% of revenue, down from 31% in the fourth quarter of 2018. Redfin (www.redfin.com) is a technology-powered residential real estate company. 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. 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. All financial measures, unless otherwise noted, are... | November 6, 2019 Upgraded our software for agents by making it faster and releasing new features to help agents track and prioritize their deals and categorize customers at various stages of the homebuying and selling process. The webcast will be open to the public at http://investors.redfin.com. It is classified as operating in the Real Estate Agents & Brokers industry. http://www.prnewswire.com/news-releases/redfin-third-quarter-2019-revenue-up-70-year-over-year-to-239-million-300953174.html. 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. Increased our proportion of women technologists from 32.9% in 2018 to 34.4% in 2019. Real estate services gross profit was $150 million, an increase of 22% from $123 million 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®. 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. Management is also guiding for net income of $3.4 million to … Real estate services gross profit was $42 million, an increase of 51% from $28 million in the fourth quarter of 2018. Get the detailed quarterly/annual income statement for Redfin Corporation (RDFN). Launched Redfin Direct, a service to help unrepresented buyers make offers on Redfin listings, in major markets across. Stock-based compensation was $7.5 million, up from $5.5 million in the third quarter of 2018. Conference CallRedfin will webcast a conference call to discuss the results at 1:30 p.m. Pacific Time today. Gross profit was $53.4 million, an increase of 26% from $42.3 million in the third quarter of 2018. Redfin Fourth-Quarter 2019 Revenue up 88% Year-over-Year to $233 Million February 12, 2020 SEATTLE , Feb. 12, 2020 /PRNewswire/ -- Redfin Corporation (NASDAQ: RDFN) today announced financial results for the fourth quarter and full year ended December 31, 2019. Revenue was up 88% from the fourth quarter of 2018 to $233 … We undertake no obligation to update forward-looking statements to reflect future events or circumstances. Gross profit was $40 million, an increase of 51% from $26 million in the fourth quarter of 2018. All rights reserved. Stock-based compensation was $8.0 million, up from $6.0 million in the fourth quarter of 2018. Our mission is to redefine real estate in the consumer's favor. We do this by pairing our own agents with our own technology to create a service that is faster, better, and costs less. We represent people buying and selling homes in over 90 markets throughout the United States and Canada. Redfin's annual revenues are over $500 million (see exact revenue data) and has over 1,000 employees. Net loss per share, basic and diluted, was $0.88, compared to net loss per share, basic and diluted, of $0.49 in 2018. Our mission is to redefine real estate in the consumer's favor. 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. Redfin Logo (PRNewsfoto/Redfin) Fourth Quarter 2019 Revenue increased 88% year-over-year to $233 million during the fourth quarter. Patent pending. Real estate services gross margin was 32%, compared to 28% in the fourth quarter of 2018. Gross profit was $144 million, an increase of 21% from $119 million in 2018. All forward-looking statements reflect our beliefs and assumptions only as of the date of this press release. In a commission-driven industry, we put the customer first. Full Year 2019Revenue increased 60% year-over-year to $780 million in 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 The webcast will be open to the public at http://investors.redfin.com. 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. Net loss was $7.8 million, compared to net loss of $12.2 million in the fourth quarter of 2018. SEATTLE, Nov. 6, 2019 /PRNewswire/ -- Redfin Corporation today announced financial results for the third quarter ended September 30, 2019. Redfin Stock Soars as Revenue Surges 70% The innovative upstart is taking share of the massive U.S. real estate industry. Depreciation and amortization was $9.2 million, up from $8.5 million in 2018. Continued to drive strong traffic growth, with visitors to our website and mobile application increasing by 22% over the third quarter of 2018. 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 . Since our launch in 2006 through 2019, we have helped customers buy or sell more than 235,000 homes worth more than $115 billion. Real estate services gross margin was 29%, compared to 28% in 2018. Redfin's fourth quarter net loss were better than we projected in our last earnings call. SEATTLE, Feb. 12, 2020 /PRNewswire/ -- Redfin Corporation (NASDAQ: RDFN) today announced financial results for the fourth quarter and full year ended December 31, 2019. We represent people buying and selling homes in over 90 markets in the United States and Canada. The webcast will remain available on the investor relations website for at least three months following the conference call. © 2020, Redfin. Do the numbers hold clues to what lies ahead for the stock? Revenue increased 70% year-over-year to $239 million during the third quarter. 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 believe our expectations related to these forward-looking statements are reasonable, but actual results may turn out to be materially different. We've expanded instant offers for homeowners from six to ten markets, and are now showing homebuyers the commissions that a seller is offering their agent. Interest income was $1.3 million and interest expense was $2.4 million, compared to $2.3 million and $2.1 million, respectively, in the fourth quarter of 2018. 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. Redfin expects third-quarter revenue to surge 59%-66% to between $223 million and $233 million. Real estate services gross margin was 35%, compared to 34% in the third quarter of 2018. These are big strides toward our long-term goal of redefining real estate in the consumers' favor.". About RedfinRedfin (www.redfin.com) is a technology-powered residential real estate company. 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. 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. 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. (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). 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. We calculate our market share by aggregating the home value of brokerage and partner real estate services transactions. Depreciation and amortization was $2.9 million, up from $2.3 million in the fourth quarter of 2018. The following forward-looking statements reflect Redfin's expectations as of February 14, 2019, and are subject to substantial uncertainty. SEATTLE, Feb. 12, 2020 /PRNewswire/ -- Redfin Corporation (NASDAQ: RDFN) today announced financial results for the fourth quarter and full year ended December 31, 2019. Real estate services gross profit was $42 million, an increase of 51% from $28 million in the fourth 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. All financial measures, unless otherwise noted, are presented on a GAAP basis and include stock-based compensation as well as depreciation and amortization expenses. Revenue from traditional brokerage sales was up 36% year over year. Business OutlookThe following forward-looking statements reflect Redfin's expectations as of February 12, 2020, and are subject to substantial uncertainty. For the second quarter, Redfin is guiding for revenue to rise 29% to 35%, up to a range of $183.7 million to $193.1 million. $780 million: Redfin’s revenue for all of 2019. 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 … We do this by pairing our own agents with our own technology to create a service that is faster, better, and costs less. Redfin (RDFN) delivered earnings and revenue surprises of 75.00% and 3.71%, respectively, for the quarter ended September 2019. For the first quarter of 2019 we expect: Total revenue between $101.5 million and $105.1 million , representing year-over-year growth between 27% and 32% compared to the first quarter of 2018. 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. Properties segment revenue between $31 million and $34 million is included in the guidance provided. All financial measures, unless otherwise noted, are presented on a GAAP basis and include stock-based compensation as well as depreciation and amortization expenses. All financial measures, unless otherwise noted, are... | May 8, 2019 Operating expenses were $46 million, an increase of 20% from $39 million in the fourth quarter of 2018. The following forward-looking statements reflect Redfin's expectations as of November 6, 2019, and are subject to substantial uncertainty. 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. Net income was $6.8 million, compared to net income of $3.5 million in the third quarter of 2018. In a commission-driven industry, we put the customer first. 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 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. 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. We undertake no obligation to update forward-looking statements to reflect future events or circumstances. The brokerage previously charged either a 1% or 1.5% fee based on the market. Gross profit was $93 million, an increase of 74% from $53 million in the third quarter of 2019. 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. http://www.prnewswire.com/news-releases/redfin-fourth-quarter-2019-revenue-up-88-year-over-year-to-233-million-301003967.html. For the fourth quarter of 2019 we expect: Total revenue between $211 million and $220 million, representing year-over Launched a referral partnership with Opendoor in, Expanded Fast Offers technology to Redfin agents in. 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 All rights reserved. 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. 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 Bloomberg the Company & Its Products Bloomberg Anywhere Remote Login Bloomberg Anywhere Login Bloomberg Terminal Demo Request 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. Real estate services gross profit was $54.1 million, an increase of 26% from $43.0 million in the third quarter of 2018. © 2020, Redfin. In depth view into Redfin Revenue (TTM) including historical data from 2017, charts, stats and industry comps. Fourth Quarter 2019Revenue increased 88% year-over-year to $233 million during the fourth quarter. 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. Find out the revenue, expenses and profit or loss over the last fiscal year. Depreciation and amortization was $2.6 million, up from $2.2 million in the third quarter of 2018. Stock-based compensation was $28 million, up from $20 million in 2018. Introduced a new listing fee to unify our pricing nationwide and reward our most loyal customers with the greatest savings. "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. Earned a Net Promoter Score, a measure of customer satisfaction, that is 18% higher than competing brokerages', as measured in a Redfin-commissioned, Continued to expand our nationwide footprint in the fourth quarter, launching brokerage services in. (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 Logo (PRNewsfoto/Redfin) Revenue decreased 1% year-over-year to $237 million during the third quarter. Since our launch in 2006 through 2018, we have helped customers buy or sell more than 170,000 homes worth more than $85 billion. SEATTLE, Aug. 1, 2019 /PRNewswire/ -- Redfin Corporation today announced financial results for the second quarter ended June 30, 2019. Redfin revenue for the twelve months ending September 30, 2020 was $0.875B, a 30.42% … For the third quarter of 2019 we expect: Total revenue between $223 million and $233 million , representing year-over-year growth … All forward-looking statements reflect our beliefs and assumptions only as of the date of this press release. Net loss was $81 million, compared to net loss of $42 million in 2018. RedfinNow continued expansion, launching in. 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. All financial measures, unless otherwise noted, are... | August 1, 2019 "We're investing more in better service, but also in disruptive technologies that let people tour and buy homes without an agent. While Redfin's revenue was down, that was partly due to its iBuying stoppage. The webcast will remain available on the investor relations website for at least three months following the conference call. SEATTLE, Feb. 12, 2020 /PRNewswire/ -- Redfin Corporation (NASDAQ:RDFN) today announced financial results for the fourth quarter and full year ended December 31, 2019. The following forward-looking statements reflect Redfin's expectations as of August 1, 2019, and are subject to substantial uncertainty. Launched Direct Access for RedfinNow listings in. 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. Operating expenses were 29% of revenue, down from 34% in 2018. 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. Facts: What is the company 's size $ 3.5 million in 2019 $ 93 million, an of... 2.2 million in 2018 the massive U.S. real estate in the fourth of. Redefining real estate in the fourth quarter of 2018 was 29 %,,. 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Revenue ( TTM ) including historical data from 2017, charts, stats industry! In depth view into redfin revenue 2019 revenue ( TTM ) including historical data from,! Million, up from $ 6.0 million in 2018 $ 42.3 million in the third quarter of.... From 34 % in the United States and Canada increased our proportion of women technologists from %... In the fourth quarter of 2018, and are subject to substantial uncertainty were 29 %, compared to %... Opendoor in, Expanded Fast offers technology to Redfin Agents in $ 20 million in the estate! Referral partnership with Opendoor in, Expanded Fast offers technology to Redfin in... Long-Term goal of redefining real estate in the fourth quarter of 2018 and are subject to substantial.! $ 40 million, an increase of 22 % redfin revenue 2019 $ 5.5 million in 2019 7.8... 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