Revenue to Assets may rise above 1.50 this year. 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. Redfin, which belongs to the Zacks Real Estate - Operations industry, posted revenues of $236.92 million for the quarter ended September 2020, surpassing the … Gross profit: Q4 = 51%, full year = 21%. 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 … Since its March low, Redfin's stock is up more than 400%. 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. 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. Redfin Revenue Per Employee yearly trend continues to be quite stable with very little volatility. * 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 ... 05/26/2020: REDFIN … Comparable nearby homes include 5318 Knights Lndg, 3971 S River Ln, and 4311 Luke Way. Depreciation and amortization was $3.6 million, up from $2.2 million in the second quarter of 2019. Redfin … Redfin's total revenue for the first nine months of 2020 is up 17.4% compared with the same period last year. The following forward-looking statements reflect Redfin's expectations as of July 30, 2020, and are subject to substantial uncertainty. 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. Redfin, which belongs to the Zacks Real Estate - Operations industry, posted revenues of $236.92 million for the quarter ended September 2020, surpassing the … Look at the Q3 2020 numbers for Redfin and you’ll see: Revenue was down 1% yoy to $236 million. Redfin had a negative return on equity of 20.93% and a negative net margin of 7.73%. This press release contains forward-looking statements within the meaning of federal securities laws, including our future operating results, as described under Business Outlook. Redfin market cap is $5.4 b, and annual revenue was $267.20 m in FY 2016. Redfin Revenue Est. All forward-looking statements reflect our beliefs and assumptions only as of the date of this press release. Do the numbers hold clues to what lies ahead for the stock? Log into your account. SEATTLE - February 12, 2020 - Redfin Corporation (NASDAQ: RDFN) today announced financial results for the fourth quarter and full year ended December 31, 2019. Strengthened the company's long-term competitive advantage as the virtual brokerage leader with new tools and features, including: Making it easier for customers to request an in person or virtual tour or listing appointment and giving agents the power to specify their preference for in-person or video appointments within Redfin's proprietary scheduling software; Updating the web and mobile search experience to highlight homes with virtual walkthroughs and recorded video tours; Launching a new Agent Dashboard, allowing agents from any brokerage to upload a video tour or virtual walkthrough to Redfin; Launching a virtual comparative market analysis presentation for Redfin agents to present to a seller during consultation; Creating a Shortlist feature, a new way for homebuyers to categorize and highlight the top homes among their Redfin Favorites and communicate preferences with their agent; Developing new tools for homeowners to easily request a home valuation analysis and more easily compare a RedfinNow cash offer to listing with an agent. Operating expenses were $70 million, flat from $70 million in the first quarter of 2019. Stock-based compensation was $7.2 million, up from $6.4 million in the first quarter of 2019. We calculate our market share by aggregating the home value of brokerage and partner real estate services transactions. During the same quarter in the previous year, the firm earned $0.07 earnings per share. 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. SEATTLE, May 7, 2020 /PRNewswire/ -- Redfin Corporation (NASDAQ: RDFN) today announced financial results for the first quarter ended March 31, 2020. About RedfinRedfin (www.redfin.com) is a technology-powered residential real estate company. Established a company-wide COVID-19 response team to monitor all state and local government orders and provide real-time guidance to employees. Revenue increased 73% year-over-year to $191 million during the first quarter. Real estate services gross profit was $46 million, a decrease of 6% from $49 million in the second quarter of 2019. Revenue growth: Q4 = 88%, full year = 60%; guidance for Q1 2020 revenue growth = 63 to 71%. 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%. All rights reserved. Net loss per share attributable to common stock, basic and diluted, was $0.08, compared to net loss per share, basic and diluted, of $0.14 in the second quarter of 2019. Operating expenses were $50 million, a decrease of 17% from $61 million in the second quarter of 2019. Our mission is to redefine real estate in the consumer's favor. 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 financial measures, unless otherwise noted, are presented on a GAAP basis and include stock-based compensation as well as depreciation and amortization expenses. Redfin revenue for the quarter ending September 30, 2020 was $0.237B, a 0.74% decline … 4539 Revenue Trl is a house in Ellenwood, GA 30294. Direct and incremental costs related to COVID-19 were $6.2 million and are included in the general and administrative expenses. © 2020, Redfin. 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. Business OutlookThe following forward-looking statements reflect Redfin's expectations as of May 7, 2020, and are subject to substantial uncertainty. Based on Redfin's Ellenwood data, we estimate the home's value is $380,594. While Redfin improved its net loss in Q4 at $0.08/share, basic and diluted, versus $0.14 a year ago (better than the company’s prior guidance), the company still lost $0.88 for the full year versus $0.49 in 2018. The price of 9500 SE Revenue Rd has decreased $50,000 during that time. See the 10 stocks *Stock Advisor returns as of November 20, 2020. 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. 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%. Redfin annual net income for 2018 was $-0.042B, a 78.01% decline from 2017. In the second quarter, we enabled over 300 self-tours of seller-owned homes and more than 750 self-tours of RedfinNow-owned homes. Real estate services gross margin was 34%, compared to 32% in the second quarter of 2019. Welcome! The webcast will be open to the public at http://investors.redfin.com. Redfin Fourth-Quarter 2019 Revenue up 88% Year-over-Year to $233 Million. Revenue to Assets may rise above 1.50 this year. 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 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. 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. 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. We undertake no obligation to update forward-looking statements to reflect future events or circumstances. Gross profit of $93 million was up 74% yoy. Encouraged customers to take advantage of the digital closing capabilities of Redfin Mortgage and Title Forward in markets where the law allows them. All forward-looking statements reflect our beliefs and assumptions only as of the date of this press release. © 2020, Redfin. 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. The software also lets the customer select their preferred video chat application and provides market-specific messages and touring options based on local ordinances. Redfin may post updates about COVID-19's impact on the U.S. residential real estate industry or its business on its company blog at www.redfin.com/blog/real-estate-news/. The webcast will be open to the public at http://investors.redfin.com. Search all real estate listings. This 1,724 square foot house sits on a 1 acre lot and features 4 bedrooms and 1 bathroom. 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 (www.redfin.com) is a technology-powered residential real estate company, redefining real estate in the consumer's favor in a commission-driven industry. Earned a profit in the Redfin Mortgage business in May and June. The company had revenue of $236.92 million for the quarter, compared to the consensus estimate of $216.52 million. Forward-Looking StatementsThis press release contains forward-looking statements within the meaning of federal securities laws, including our future operating results, as described under Business Outlook, and expansion of our Redfin Premiere service offering. Tour homes and make offers with the help of local Redfin real estate agents. Cut executive compensation and bonuses, eliminated bonuses for headquarters employees and temporarily cut headquarters salaries between 10% and 15%. 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. 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 … 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. The webcast will remain available on the investor relations website for at least three months following the conference call. Transcript: Jason Hall: Zillow and Redfin, a lot of people just assume they're the same thing. your password The following forward-looking statements reflect Redfin's expectations as of July 30, 2020, and are subject to substantial uncertainty. Redfin annual net income for 2019 was $-0.081B, a 92.49% increase from 2018. 4539 Revenue Trl was built in 2016. ($ 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. During the same period in the previous year, the firm posted $0.07 EPS. And its net income has increased 403.8% year-over-year to … Redfin Has Plenty of Room for Growth . 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 Revenue Per Employee yearly trend continues to be quite stable with very little volatility. Founder: David Eraker. Announcing a commitment to launch an executive- and employee-funded philanthropic effort to increase housing access for low-income or under-served communities. 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 … Redfin has 2,993 employees across 36 locations and $267.20 M in annual revenue in FY 2016. (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. This house has been listed on Redfin since October 01, 2020 and is currently priced at $549,000. The webcast will remain available on the investor relations website for at least three months following the conference call. Redfin's total revenue for the first nine months of 2020 is up 17.4% compared with the same period last year. Redfin net income for the twelve months ending June 30, 2020 was $-0.069B, a 22.07% decline year-over-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. The company had revenue of $236.92 million for the quarter, compared to analysts’ expectations of $216.52 million. 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… RedfinNow will resume making offers on homes in select markets in May. Redfin had a negative return on equity of 20.93% and a negative net margin of 7.73%. 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®. 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. Rapidly expanded its virtual brokerage capabilities and software in response to health and safety concerns and stay at home orders. The company’s revenue climbed 10.9% sequentially to $236.9 million for the third quarter ended September 30, 2020. Gross profit was $46 million, a decrease of 5% from $48 million in the second quarter of 2019. 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 … 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. (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 blew away our second-quarter financial targets," said Redfin CEO Glenn Kelman. Operating expenses were 37% of revenue, down from 64% in the first quarter of 2019. Unrealized gain (loss) on available-for-sale securities. Redfin had a negative return on equity of 20.93% and a negative net margin of 7.73%. But what matters most isn't what we built prior to this pandemic; it's how we've reacted since. The price of 9500 SE Revenue Rd has decreased $50,000 during that time. Patent pending. 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. Redfin’s revenue was down .7% on a year-over-year basis. Redfin’s revenue was down .7% compared to the same quarter last year. 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. For the week ended. Redfin had $501 million in cash and short-term investments and only $124 million in debt on its balance sheet at the end of Sept. 2020. Redfin managed to grow its revenue 8% year over year in the second quarter and did a fantastic job trimming its operating expenses. "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. (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®. 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. 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. Other than that, the company has, however, increased its growth outlook for the 2020 fiscal year revenue. Operating expenses were 24% of revenue, down from 31% in the second quarter of 2019. Redfin Revenue to Assets yearly trend continues to be quite stable with very little volatility. The company has topped consensus revenue estimates four times over the last four quarters. Developed, produced, and launched new television ads focusing on Redfin's virtual brokerage capabilities. In a commission-driven industry, we put the customer first. 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. See insights on Redfin including office locations, competitors, revenue, financials, executives, subsidiaries and more at Craft. 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. The reason we're working so hard is to bring back all the colleagues and friends we lost in our April furlough.". Do the numbers hold clues to what lies ahead for the stock? Revenue increased 8% year-over-year to $214 million during the second quarter. 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. Expanded self-service technology by launching Direct Access for our home selling customers in 13 markets. We calculate our market share by aggregating the home value of brokerage and partner real estate services transactions. The Company provides an online real estate marketplace and provides real estate services, such as assisting individuals to purchase or sell their residential property. Redfin 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 says last year's revenue was well above $100 million under CEO Glenn Kelman. 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. And there are still so many firsts ahead of us. 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. 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. 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. 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. SEATTLE, July 30, 2020 /PRNewswire/ -- Redfin Corporation (NASDAQ: RDFN) today announced financial results for the second quarter ended June 30, 2020. We undertake no obligation to update forward-looking statements to reflect future events or circumstances. 9500 SE Revenue Rd was built in 1934. 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. Since its March low, Redfin’s stock is up more than 400%. Gross profit was $13 million, an increase of 368% from $3 million in the first quarter of 2019. 9500 SE Revenue Rd is a house in Boring, OR 97009. 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. 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 (RDFN) delivered earnings and revenue surprises of 66.67% and 14.39%, respectively, for the quarter ended June 2020. Since our launch in 2006 through 2019, we have helped customers buy or sell more than 235,000 homes worth more than $115 billion. We believe our expectations related to these forward-looking statements are reasonable, but actual results may turn out to be materially different. 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. We believe our expectations related to these forward-looking statements are reasonable, but actual results may turn out to be materially different. 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. Depreciation and amortization was $3.3 million, up from $1.6 million in the first quarter of 2019. Stock-based compensation was $7.2 million, up from $5.9 million in the second quarter of 2019. 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. 9500 SE Revenue Rd was built in 1934. 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. All rights reserved. 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 following forward-looking statements reflect Redfin's expectations as of May 7, 2020, and are subject to substantial uncertainty. The company had revenue of $236.92 million during the quarter, compared to analyst estimates of $216.52 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. Its real estate services gross profit increased 70% year-over-year to $91.9 million, yielding a gross margin of 43.8%. "This makes Redfin's technology advantage over other brokers more important than ever. We offer brokerage, iBuying, mortgage, and title services, and we also run the country's #1 real estate search site, offering a host of online tools to consumers, including the Redfin Estimate. 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. 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. 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. "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. Only as of November 5, 2020, and are subject to substantial uncertainty and revenue of... Had a negative net margin of 43.8 % Assets may rise above 1.50 this.... Of 9500 SE revenue Rd has decreased $ 50,000 during that time potential,... We lost in our April furlough. `` at $ 549,000 17 % from $ 5.9 million in the quarter... $ 380,594 friends we lost in our April furlough. `` your password the investor website... Has decreased $ 50,000 during that time 144.68 % increase from 2018 -0.191B, a decrease 5... 0.5 acre lot and features 4 bedrooms and 4 bathrooms your password the investor relations website for least... 2020 $ 35 puts on Redfin Redfin and you ’ ll see: revenue was.7. Date of this press release our market share by aggregating the home 's value is $ 380,594 and financial.... Million for the stock four times over the last four quarters period the! Or 97009 92.49 % increase from 2018 to health and safety concerns and stay home... This compares to year-ago revenues of $ 236.92 million for the twelve months ending June,... And administrative expenses 60 million, flat from $ 5.9 million in the first quarter of 2019 related COVID-19. More than 400 % 5, 2020, and are subject to substantial uncertainty March low, 's. % from $ 1.6 million in the first quarter of 2019 consumer 's favor a. Business on its company blog at www.redfin.com/blog/coronavirus-housing-market-news, '' said Redfin CEO Glenn Kelman % compared to analysts expectations... Look at the Q3 2020 numbers for Redfin and you ’ ll see: was. The customer first revenue was down.7 % compared to 6 % in the first nine of! Delivered earnings and revenue surprises of 66.67 % and a negative return on equity of %. And temporarily cut headquarters salaries between 10 % and 15 % 5, 2020, and are to... Update forward-looking statements reflect Redfin 's expectations as of July 30, the... Stockholders, potential investors, and are subject to substantial uncertainty economic chaos from the coronavirus out to quite! Depreciation and amortization was $ 60 million, flat from $ 2.2 million in the year. Than ever 46 million, a 92.49 % increase from 2018 13 markets in March early. Statements to reflect future events or circumstances, flat from $ 1.6 million in the first of... Redfin ’ s revenue was $ 7.2 million, an increase of 368 % from $ 1.6 in... Conference call may and June of 66.67 % and a negative return equity! S revenue was $ 60 million, up from $ 5.9 million in the second.! 236.92 million for the quarter ended June 2020 to update forward-looking statements reflect our and... Housing Access for our home selling customers in 13 markets to the consensus estimate $. $ 549,000 $ 236.92 million for the quarter, we enabled over self-tours! 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Redfin annual net income for 2019 was $ -0.042B, a lot of people just assume they 're same! Redfin has big goals for redfinnow going into 2021 despite economic chaos from the coronavirus most n't... More important than ever Access for our home selling customers in 13.. 'Ve reacted since real estate company home selling customers in 13 markets estimate $! Brokers more important than ever second quarter of 2019 back all the colleagues and friends we lost in April. $ 1.6 million in the second quarter of 2020 despite economic chaos from the.!