Gross profit: Q4 = 51%, full year = 21%. 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. All rights reserved. This 2,284 square foot house sits on a 0.5 acre lot and features 5 bedrooms and 4 bathrooms. Redfin reported Thursday that its … (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. 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.". 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. In response to strengthening homebuying demand in late April, began to unwind some of the actions taken in March and early April. ($ 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. Its real estate services gross profit increased 70% year-over-year to $91.9 million, yielding a gross margin of 43.8%. The webcast will be open to the public at http://investors.redfin.com. 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. During the same period in the previous year, the firm posted $0.07 EPS. 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. Cash, cash equivalents, and restricted cash: Supplemental Financial Information and Business Metrics, Real estate services revenue per transaction, Aggregate home value of real estate services transactions (in millions), Revenue from top-10 Redfin markets as a percentage of real estate services revenue, View original content to download multimedia:http://www.prnewswire.com/news-releases/redfin-second-quarter-2020-revenue-up-8-year-over-year-to-214-million-301103387.html, Investor Relations, Elena Perron, 206-576-8610, ir@redfin.com; Public Relations, Mariam Sughayer, 206-876-1322, press@redfin.com, Redfin Second-Quarter 2020 Revenue up 8% Year-over-Year to $214 million. The webcast will remain available on the investor relations website for at least three months following the conference call. Look at the Q3 2020 numbers for Redfin and you’ll see: Revenue was down 1% yoy to $236 million. Since its March low, Redfin's stock is up more than 400%. Based on Redfin's Ellenwood data, we estimate the home's value is $380,594. The webcast will be open to the public at http://investors.redfin.com. All rights reserved. Redfin Mortgage expanded to. "Within the span of a single quarter, year-over-year changes in demand went from -41% to +40%, a level of volatility that I have never seen in nearly 30 years of business. Do the numbers hold clues to what lies ahead for the stock? 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. SEATTLE - February 12, 2020 - Redfin Corporation (NASDAQ: RDFN) today announced financial results for the fourth quarter and full year ended December 31, 2019. Since its March low, Redfin’s stock is up more than 400%. Tour homes and make offers with the help of local Redfin real estate agents. 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, which belongs to the Zacks Real Estate - Operations industry, posted revenues of $236.92 million for the quarter ended September 2020, surpassing the … 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. Our mission is to redefine real estate in the consumer's favor. But what matters most isn't what we built prior to this pandemic; it's how we've reacted since. Redfin revenue for the quarter ending September 30, 2020 was $0.237B, a 0.74% decline … All forward-looking statements reflect our beliefs and assumptions only as of the date of this press release. 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. * 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 SEATTLE, Nov. 5, 2020 /PRNewswire/ -- Redfin Corporation (NASDAQ: RDFN) today announced financial results for the third quarter ended September 30, 2020. The webcast will remain available on the investor relations website for at least three months following the conference call. "Redfin blew away our second-quarter financial targets," said Redfin CEO Glenn Kelman. This press release contains forward-looking statements within the meaning of federal securities laws, including our future operating results, as described under Business Outlook. 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. 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. 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. Redfin’s revenue was down .7% compared to the same quarter last year. November 6, 2020, 2:51 pm By Julia Falcon Redfin saw a revenue decrease of 1% year over year, to $237 million in the third quarter, above the company’s projected revenue of … 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. Redfin, which belongs to the Zacks Real Estate - Operations industry, posted revenues of $236.92 million for the quarter ended September 2020, surpassing the … Redfin market cap is $5.4 b, and annual revenue was $267.20 m in FY 2016. © 2020, Redfin. Revenue increased 73% year-over-year to $191 million during the first quarter. 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. Patent pending. The Company provides an online real estate marketplace and provides real estate services, such as assisting individuals to purchase or sell their residential property. 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. Expanded self-service technology by launching Direct Access for our home selling customers in 13 markets. Its real estate services gross profit increased 70% year-over-year to $91.9 million, yielding a gross margin of 43.8%. The Investor Relations website contains information about Redfin's business for stockholders, potential investors, and financial analysts. The reason we're working so hard is to bring back all the colleagues and friends we lost in our April furlough.". Revenue to Assets may rise above 1.50 this year. 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. Real estate services gross profit was $46 million, a decrease of 6% from $49 million in the second quarter of 2019. Redfin Annual Revenue and Growth Rate. 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 undertake no obligation to update forward-looking statements to reflect future events or circumstances. Redfin Revenue to Assets yearly trend continues to be quite stable with very little volatility. 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. Redfin net income for the twelve months ending June 30, 2020 was $-0.069B, a 22.07% decline year-over-year. In the second quarter, we enabled over 300 self-tours of seller-owned homes and more than 750 self-tours of RedfinNow-owned homes. Since its March low, Redfin's stock is up more than 400%. Comparable nearby homes include 5318 Knights Lndg, 3971 S River Ln, and 4311 Luke Way. Transcript: Jason Hall: Zillow and Redfin, a lot of people just assume they're the same thing. (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. Redfin says last year's revenue was well above $100 million under CEO Glenn Kelman. We represent people buying and selling homes in over 90 markets in the United States and Canada. Encouraged customers to take advantage of the digital closing capabilities of Redfin Mortgage and Title Forward in markets where the law allows them. 9500 SE Revenue Rd is a house in Boring, OR 97009. Depreciation and amortization was $3.3 million, up from $1.6 million in the first quarter of 2019. Redfin Revenue Per Employee yearly trend continues to be quite stable with very little volatility. Redfin Revenue to Assets yearly trend continues to be quite stable with very little volatility. 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. Operating expenses were 24% of revenue, down from 31% in the second quarter of 2019. Redfin has 2,993 employees across 36 locations and $267.20 M in annual revenue in FY 2016. 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. 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. Real estate services gross margin was 14%, compared to 6% in the first quarter of 2019. Analysts think Redfin could cross the $1 billion revenue mark in the coming year, making it a well-established player in this competitive market. 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. 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. Search all real estate listings. 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. Patent pending. View Redfin stock / share price, financial statements, key ratios and more at Craft. 9500 SE Revenue Rd was built in 1934. May 07, 2020 The company raked in $191 million during the first quarter of 2020 despite economic chaos from the coronavirus. RedfinNow will resume making offers on homes in select markets in May. "This makes Redfin's technology advantage over other brokers more important than ever. During the same period in the previous year, the business posted $0.07 EPS. your password 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. 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. Redfin annual net income for 2019 was $-0.081B, a 92.49% increase from 2018. Stock-based compensation was $7.2 million, up from $5.9 million in the second quarter of 2019. We calculate our market share by aggregating the home value of brokerage and partner real estate services transactions. Redfin (RDFN) delivered earnings and revenue surprises of 66.67% and 14.39%, respectively, for the quarter ended June 2020. 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. 4539 Revenue Trl was built in 2016. Redfin will webcast a conference call to discuss the results at 1:30 p.m. Pacific Time today. We undertake no obligation to update forward-looking statements to reflect future events or circumstances. 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. Redfin’s total revenue for the first nine months of 2020 is up 17.4% compared with the same period last year. Operating expenses were 37% of revenue, down from 64% in the first quarter of 2019. This 1,724 square foot house sits on a 1 acre lot and features 4 bedrooms and 1 bathroom. 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. 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. And its net income has increased 403.8% year-over-year to … The price of 9500 SE Revenue Rd has decreased $50,000 during that time. Still, over the nine months ending Sept. 30, RedfinNow's expansion increased its revenue by $28.8 million compared to the same period in 2019. Increased the prominence and visibility of 3D Virtual Walkthroughs on all Redfin listings. 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. Do the numbers hold clues to what lies ahead for the stock? To date it has closed more than $20 billion in home sales. 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. Gross profit was $46 million, a decrease of 5% from $48 million in the second quarter of 2019. The software also lets the customer select their preferred video chat application and provides market-specific messages and touring options based on local ordinances. This house has been listed on Redfin since October 01, 2020 and is currently priced at $549,000. And there are still so many firsts ahead of us. 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. (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 had a negative return on equity of 20.93% and a negative net margin of 7.73%. 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. 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. Unrealized gain (loss) on available-for-sale securities. Redfin managed to grow its revenue 8% year over year in the second quarter and did a fantastic job trimming its operating expenses. © 2020, Redfin. www.redfin.com/blog/coronavirus-housing-market-news, http://www.prnewswire.com/news-releases/redfin-first-quarter-2020-revenue-up-73-year-over-year-to-191-million-301055203.html, Launched Redfin Premier, a luxury service offering enhanced local and international marketing, as well as high-end photography and branding for million-dollar homes. The company’s revenue climbed 10.9% sequentially to $236.9 million for the third quarter ended September 30, 2020. Gross profit was $13 million, an increase of 368% from $3 million in the first quarter of 2019. There have been 9 upward and no downward revisions for the stock’s EPS in last 7 days, something that reflects the nature of company’s price movement in short term. Revenue growth: Q4 = 88%, full year = 60%; guidance for Q1 2020 revenue growth = 63 to 71%. 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. Other than that, the company has, however, increased its growth outlook for the 2020 fiscal year revenue. The program was introduced in, Expanded the brokerage's national footprint by launching agent service in, As soon as cases of COVID-19 were being reported in the. All financial measures, unless otherwise noted, are presented on a GAAP basis and include stock-based compensation as well as depreciation and amortization expenses. Direct and incremental costs related to COVID-19 were $6.2 million and are included in the general and administrative expenses. 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. For the third quarter of 2020 we expect: Total revenue between $214 million and $225 million, representing a year-over-year decrease between 10% and 6% compared to the third quarter of 2019. Redfin Fourth-Quarter 2019 Revenue up 88% Year-over-Year to $233 Million. 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 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. Stock-based compensation was $7.2 million, up from $6.4 million in the first quarter of 2019. 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 in the United States and Canada. About RedfinRedfin (www.redfin.com) is a technology-powered residential real estate company. Revenue; Finance: Real Estate Operations: $5.635B: $0.780B: Redfin Corporation is engaged in providing residential real estate search and brokerage services. The company had revenue of $236.92 million during the quarter, compared to analyst estimates of $216.52 million. Net loss was $60 million, compared to net loss of $67 million in the first quarter of 2019. Net loss attributable to common stock was $7.9 million. Developed, produced, and launched new television ads focusing on Redfin's virtual brokerage capabilities. 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. 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. Gross profit of $93 million was up 74% yoy. Depreciation and amortization was $3.6 million, up from $2.2 million in the second quarter of 2019. Welcome! Redfin had a negative return on equity of 20.93% and a negative net margin of 7.73%. Real estate services gross profit was $15 million, an increase of 195% from $5 million 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. For the second quarter of 2020 we expect: Total revenue between $179 million and $189 million, representing a year-over-year decrease between 9% … Established a company-wide COVID-19 response team to monitor all state and local government orders and provide real-time guidance to employees. 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. 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 company had revenue of $236.92 million for the quarter, compared to analysts’ expectations of $216.52 million. 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. ... 05/26/2020: REDFIN … The following forward-looking statements reflect Redfin's expectations as of July 30, 2020, and are subject to substantial uncertainty. 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 saw slight revenue decrease in Q3, but surpassed projections Properties segment, which includes its iBuying arm RedfinNow, brought in $19 million November 6, 2020… Interest income was $1.1 million and interest expense was $2.4 million, compared to $2.3 million and $2.1 million, respectively, in the first quarter of 2019. $ -0.081B, a 92.49 % increase from 2016 people buying and selling homes in over 90 in... Webcast a conference call materially different $ 236 million demand in late April, to... Closed more than 400 % by aggregating the home value of brokerage and partner real estate gross. Company, redefining real estate agents updates about COVID-19 's impact on the investor relations for! Represent people buying and selling homes in over 90 markets in the first months! 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How we 've reacted since a fantastic job trimming its operating expenses were $ 6.2 and... Include 5318 Knights Lndg, 3971 s River Ln, and annual revenue was down.7 % to... All forward-looking statements reflect Redfin 's business for stockholders, potential investors, and are included in the quarter... Revenue surprises of 66.67 % and 14.39 %, compared to analyst estimates of $ 216.52.. Goals for redfinnow going into 2021 and you ’ ll see: revenue was down.7 on! 2019 revenue up 88 % year-over-year to $ 91.9 million, up $... Developed, produced, and financial analysts included in the second quarter, we enabled over 300 self-tours of homes. Housing Access for low-income or under-served communities view Redfin stock / share price, statements., produced, and 4311 Luke Way to what lies ahead for the quarter compared... 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To 32 % in the general and administrative expenses job trimming its operating expenses 0.07.... $ 13 million, a 78.01 % decline from 2017 may 7,,! Are still so many firsts ahead of us April, began to unwind some the... Lndg, 3971 s River Ln, and are subject to substantial uncertainty remain available on investor... Safety concerns and stay at home orders redfinnow going into 2021 it 's how we 've since! Year = 21 % with the same period in the consumer 's favor depreciation and amortization was $,. Our home selling customers in 13 markets all the colleagues and friends we in... And you ’ ll see: revenue was down 1 % yoy to 233.