Redfin Reports Fourth Quarter and Full Year 2021 Financial Results
Redfin Corporation (NASDAQ: RDFN) reported fourth quarter 2021 revenue of $643.1 million, a 163% year-over-year increase, while gross profit rose 35% to $108.0 million. Despite these gains, the net loss was $27.0 million, contrasting with net income of $14.0 million in Q4 2020. For the full year, revenue reached $1.922 billion (+117%), but the net loss increased to $109.6 million from $18.5 million. Redfin expanded its market share to 1.15% of U.S. existing home sales, while introducing enhanced services and software to improve customer experience.
- Fourth quarter revenue increased by 163% year-over-year.
- Fourth quarter gross profit rose by 35% to $108.0 million.
- Full year revenue reached $1.922 billion, a 117% increase.
- Expanded market share to 1.15% of U.S. existing home sales.
- Saved homebuyers and sellers over $77 million in Q4 and over $288 million in 2021.
- Launched RedfinNow in the Minneapolis metro area, expanding to 30 markets.
- Net loss of $27.0 million in Q4 2021 versus net income of $14.0 million in Q4 2020.
- Real estate services gross profit decreased by 7% year-over-year.
- Full year net loss increased to $109.6 million from $18.5 million in 2020.
Fourth Quarter 2021
Fourth quarter revenue was
Net loss was
Full Year 2021
Full year revenue was
Net loss was
“Fourth-quarter revenues and net income exceeded our expectations,” said Redfin CEO
Fourth Quarter Highlights
-
Reached market share of
1.15% ofU.S. existing home sales by value in the fourth quarter of 2021, an increase of 11 basis points from the fourth quarter of 2020.(1) -
Saved homebuyers and sellers over
$77 million $288 million 2.5% listing commission typically charged by traditional agents. -
Redfin’s mobile apps and website reached nearly 45 million average monthly users in the fourth quarter. For the year, Redfin reached a record of more than 47 million average monthly users, an increase of
10% compared to 2020. -
Expanded brokerage services into Big Bear,
California ;Ocean City, Maryland ; andUlster County, New York , furthering Redfin’s presence in popular vacation home destinations. -
Launched RedfinNow in the
Minneapolis metro area, reaching a total of 30 markets. -
Confirmed Redfin sells homes faster and for more money than other brokerages for the 6th year in a row. Nationwide Redfin listings sold about 5 days faster and for
$1,600 -
Welcomed the inaugural class of 32 Redfin agents to our Career Accelerator pilot program, bringing professionals with a diversity of backgrounds to our
Seattle andWashington, D.C. teams. -
Since
December 2020 , raised more than$1 million - Delivered improved software for customers, agents, partners and renovations staff including:
-
New search filters for customers to tailor the home search including pet friendliness and Walk Score.
- On-the-go tour scheduling for Redfin agents via Mobile Agent Tools.
-
Speed improvements that help customers move quickly in a competitive market, including faster listing notifications and identifying
Hot Homes that are likely to sell quickly within 5 minutes of being listed. - SharePlay feature that lets buyers house-hunt together via FaceTime.
- Automated resale forecasting and renovation timeline model for RedfinNow’s investment and renovation teams.
-
Subsequent to the fourth quarter, launched our annual media campaign on
February 5 : Welcome to the Housing Market and Redfin Knows What You Like.
(1) We calculate our market share by aggregating the home value of brokerage and partner real estate services transactions. 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
Business Outlook
The following forward-looking statements reflect Redfin's expectations as of
For the first quarter of 2022 we expect:
-
Total revenue between
$535 million $560 million 99% and109% compared to the first quarter of 2021. Included within total revenue are real estate services segment revenue between$165 million $171 million $330 million $350 million $37 million $38 million $3 million -
Total net loss is expected to be between
$122 million $115 million $36 million $19 million $45 million $19 million $15 million $5 million
Conference Call
Redfin will webcast a conference call to discuss the results at
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of federal securities laws, including our future operating results, as described under Business Outlook. We believe our expectations related to these forward-looking statements are reasonable, but actual results may turn out to be materially different. 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
About Redfin
Redfin (www.redfin.com) is a technology-powered real estate company. We help people find a place to live with brokerage, instant home-buying (iBuying), rentals, lending, title insurance, and renovations services. We sell homes for more money and charge half the fee. We also run the country's #1 real estate brokerage site. Our home-buying customers see homes first with on-demand tours, and our lending and title services help them close quickly. Customers selling a home can take an instant cash offer from Redfin or have our renovations crew fix up their home to sell for top dollar. Our rentals business empowers millions nationwide to find apartments and houses for rent. Since launching in 2006, we've saved customers more than
Redfin-F
Consolidated Balance Sheets (in thousands, except share and per share amounts, unaudited) |
||||||||
|
|
|||||||
|
|
2021 |
|
|
|
2020 |
|
|
Assets |
|
|
|
|||||
Current assets |
|
|
|
|||||
Cash and cash equivalents |
$ |
591,003 |
|
|
$ |
925,276 |
|
|
Restricted cash |
|
127,278 |
|
|
|
20,544 |
|
|
Short-term investments |
|
33,737 |
|
|
|
131,561 |
|
|
Accounts receivable, net of allowances for credit losses of |
|
69,594 |
|
|
|
54,719 |
|
|
Inventory |
|
358,221 |
|
|
|
49,158 |
|
|
Loans held for sale |
|
35,759 |
|
|
|
42,539 |
|
|
Prepaid expenses |
|
22,948 |
|
|
|
12,131 |
|
|
Other current assets |
|
7,524 |
|
|
|
4,898 |
|
|
Total current assets |
|
1,246,064 |
|
|
|
1,240,826 |
|
|
Property and equipment, net |
|
58,671 |
|
|
|
43,988 |
|
|
Right-of-use assets, net |
|
54,200 |
|
|
|
44,149 |
|
|
Long-term investments |
|
54,828 |
|
|
|
11,922 |
|
|
|
|
409,382 |
|
|
|
9,186 |
|
|
Intangible assets, net |
|
185,929 |
|
|
|
1,830 |
|
|
Other assets, noncurrent |
|
12,898 |
|
|
|
8,619 |
|
|
Total assets |
$ |
2,021,972 |
|
|
$ |
1,360,520 |
|
|
Liabilities, mezzanine equity, and stockholders' equity |
|
|
|
|||||
Current liabilities |
|
|
|
|||||
Accounts payable |
$ |
12,546 |
|
|
$ |
5,644 |
|
|
Accrued and other liabilities |
|
118,122 |
|
|
|
82,644 |
|
|
Warehouse credit facilities |
|
33,043 |
|
|
|
39,029 |
|
|
Secured revolving credit facility |
|
199,781 |
|
|
|
23,949 |
|
|
Convertible senior notes, net |
|
23,280 |
|
|
|
22,482 |
|
|
Lease liabilities |
|
15,040 |
|
|
|
11,973 |
|
|
Total current liabilities |
|
401,812 |
|
|
|
185,721 |
|
|
Lease liabilities, noncurrent |
|
55,222 |
|
|
|
49,339 |
|
|
Convertible senior notes, net, noncurrent |
|
1,214,017 |
|
|
|
488,268 |
|
|
Payroll tax liabilities, noncurrent |
|
— |
|
|
|
6,812 |
|
|
Deferred tax liabilities |
|
1,201 |
|
|
|
0 |
|
|
Total liabilities |
|
1,672,252 |
|
|
|
730,140 |
|
|
Series A convertible preferred stock—par value |
|
39,868 |
|
|
|
39,823 |
|
|
Stockholders’ equity |
|
|
|
|||||
Common stock—par value |
|
106 |
|
|
|
103 |
|
|
Additional paid-in capital |
|
682,084 |
|
|
|
860,556 |
|
|
Accumulated other comprehensive (loss) income |
|
(174 |
) |
|
|
211 |
|
|
Accumulated deficit |
|
(372,164 |
) |
|
|
(270,313 |
) |
|
Total stockholders’ equity |
|
309,852 |
|
|
|
590,557 |
|
|
Total liabilities, mezzanine equity, and stockholders’ equity |
$ |
2,021,972 |
|
|
$ |
1,360,520 |
||
Consolidated Statements of Comprehensive Loss (in thousands, except share and per share amounts, unaudited) |
|||||||||||||||
|
Three Months Ended |
|
Twelve Months Ended |
||||||||||||
|
|
2021 |
|
|
|
2020 |
|
|
|
2021 |
|
|
|
2020 |
|
Revenue |
|
|
|
|
|
|
|
||||||||
Service |
$ |
265,992 |
|
|
$ |
204,452 |
|
|
$ |
1,042,112 |
|
|
$ |
674,345 |
|
Product |
|
377,065 |
|
|
|
40,065 |
|
|
|
880,653 |
|
|
|
211,748 |
|
Total revenue |
|
643,057 |
|
|
|
244,517 |
|
|
|
1,922,765 |
|
|
|
886,093 |
|
Cost of revenue(1) |
|
|
|
|
|
|
|
||||||||
Service |
|
161,780 |
|
|
|
122,642 |
|
|
|
648,660 |
|
|
|
437,484 |
|
Product |
|
373,253 |
|
|
|
41,755 |
|
|
|
870,285 |
|
|
|
216,499 |
|
Total cost of revenue |
|
535,033 |
|
|
|
164,397 |
|
|
|
1,518,945 |
|
|
|
653,983 |
|
Gross profit |
|
108,024 |
|
|
|
80,120 |
|
|
|
403,820 |
|
|
|
232,110 |
|
Operating expenses |
|
|
|
|
|
|
|
||||||||
Technology and development(1) |
|
43,894 |
|
|
|
23,610 |
|
|
|
156,718 |
|
|
|
84,297 |
|
Marketing(1) |
|
22,397 |
|
|
|
7,270 |
|
|
|
138,740 |
|
|
|
54,881 |
|
General and administrative(1) |
|
66,962 |
|
|
|
23,601 |
|
|
|
218,315 |
|
|
|
92,140 |
|
Total operating expenses |
|
133,253 |
|
|
|
54,481 |
|
|
|
513,773 |
|
|
|
231,318 |
|
(Loss) income from operations |
|
(25,229 |
) |
|
|
25,639 |
|
|
|
(109,953 |
) |
|
|
792 |
|
Interest income |
|
163 |
|
|
|
215 |
|
|
|
635 |
|
|
|
2,074 |
|
Interest expense |
|
(3,939 |
) |
|
|
(11,864 |
) |
|
|
(11,762 |
) |
|
|
(19,495 |
) |
Income tax benefit |
|
744 |
|
|
|
— |
|
|
|
6,107 |
|
|
|
— |
|
Other income (expense), net |
|
1,259 |
|
|
|
45 |
|
|
|
5,360 |
|
|
|
(1,898 |
) |
Net (loss) income |
$ |
(27,002 |
) |
|
$ |
14,035 |
|
|
$ |
(109,613 |
) |
|
$ |
(18,527 |
) |
Dividend on convertible preferred stock |
|
(1,394 |
) |
|
|
(1,640 |
) |
|
|
(7,269 |
) |
|
|
(4,454 |
) |
Undistributed earnings attributable to participating |
|
— |
|
|
|
(242 |
) |
|
|
— |
|
|
|
— |
|
Net (loss) income attributable to common stock—basic and diluted |
$ |
(28,396 |
) |
|
$ |
12,153 |
|
|
$ |
(116,882 |
) |
|
$ |
(22,981 |
) |
Net (loss) income per share attributable to common stock—basic |
$ |
(0.27 |
) |
|
$ |
0.12 |
|
|
$ |
(1.12 |
) |
|
$ |
(0.23 |
) |
Weighted average shares of common stock—basic |
|
105,739,395 |
|
|
|
102,176,459 |
|
|
|
104,683,460 |
|
|
|
98,574,529 |
|
Net (loss) income per share attributable to common stock—diluted |
$ |
(0.27 |
) |
|
$ |
0.11 |
|
|
$ |
(1.12 |
) |
|
$ |
(0.23 |
) |
Weighted average shares of common stock—diluted |
|
105,739,395 |
|
|
|
109,461,342 |
|
|
|
104,683,460 |
|
|
|
98,574,529 |
|
|
|
|
|
|
|
|
|
||||||||
Net (loss) income |
$ |
(27,002 |
) |
|
$ |
14,035 |
|
|
$ |
(109,613 |
) |
|
$ |
(18,527 |
) |
Other comprehensive (loss) income |
|
|
|
|
|
|
|
||||||||
Foreign currency translation adjustments |
|
4 |
|
|
|
13 |
|
|
|
6 |
|
|
|
(3 |
) |
Unrealized gain (loss) on available-for-sale securities |
|
217 |
|
|
|
(110 |
) |
|
|
379 |
|
|
|
172 |
|
Total comprehensive (loss) income |
|
(26,781 |
) |
|
|
13,938 |
|
|
|
(109,228 |
) |
|
|
(18,358 |
) |
(1) Includes stock-based compensation as follows: |
|||||||||||||||
|
Three Months Ended |
|
Twelve Months Ended |
||||||||||||
|
|
2021 |
|
|
|
2020 |
|
|
|
2021 |
|
|
|
2020 |
|
Cost of revenue |
$ |
3,595 |
|
|
$ |
2,863 |
|
|
$ |
13,614 |
|
|
$ |
8,844 |
|
Technology and development |
|
6,288 |
|
|
|
4,828 |
|
|
|
23,275 |
|
|
|
16,564 |
|
Marketing |
|
736 |
|
|
|
439 |
|
|
|
2,350 |
|
|
|
1,569 |
|
General and administrative |
|
4,667 |
|
|
|
3,079 |
|
|
|
15,483 |
|
|
|
9,996 |
|
Total |
$ |
15,286 |
|
|
$ |
11,209 |
|
|
$ |
54,722 |
|
|
$ |
36,973 |
|
Consolidated Statements of Cash Flows (in thousands, unaudited) |
|||||||
|
Year Ended |
||||||
|
|
2021 |
|
|
|
2020 |
|
Operating Activities |
|
|
|
||||
Net loss |
$ |
(109,613 |
) |
|
$ |
(18,527 |
) |
Adjustments to reconcile net loss to net cash (used in) provided by operating activities: |
|
|
|
||||
Depreciation and amortization |
|
46,906 |
|
|
|
14,564 |
|
Stock-based compensation |
|
54,722 |
|
|
|
36,973 |
|
Amortization of debt discount and issuance costs |
|
4,989 |
|
|
|
12,038 |
|
Non-cash lease expense |
|
11,630 |
|
|
|
9,204 |
|
Impairment costs |
|
— |
|
|
|
2,063 |
|
Loss on repurchases and conversions of convertible senior notes |
|
— |
|
|
|
4,634 |
|
Net loss (gain) on IRLCs, forward sales commitments, and loans held for sale |
|
815 |
|
|
|
(1,921 |
) |
Other |
|
(4,227 |
) |
|
|
(349 |
) |
Change in assets and liabilities: |
|
|
|
||||
Accounts receivable, net |
|
(7,149 |
) |
|
|
(35,496 |
) |
Inventory |
|
(309,063 |
) |
|
|
25,432 |
|
Prepaid expenses and other assets |
|
(12,248 |
) |
|
|
2,333 |
|
Accounts payable |
|
3,059 |
|
|
|
2,086 |
|
Accrued and other liabilities, deferred tax liabilities, and payroll tax liabilities, noncurrent |
|
25,791 |
|
|
|
39,092 |
|
Lease liabilities |
|
(13,268 |
) |
|
|
(11,312 |
) |
Origination of loans held for sale |
|
(986,982 |
) |
|
|
(677,310 |
) |
Proceeds from sale of loans originated as held for sale |
|
993,070 |
|
|
|
657,763 |
|
Net cash (used in) provided by operating activities |
|
(301,568 |
) |
|
|
61,267 |
|
Investing activities |
|
|
|
||||
Purchases of property and equipment |
|
(27,492 |
) |
|
|
(14,686 |
) |
Purchases of investments |
|
(146,274 |
) |
|
|
(198,172 |
) |
Sales of investments |
|
98,687 |
|
|
|
7,887 |
|
Maturities of investments |
|
106,773 |
|
|
|
147,852 |
|
Cash paid for acquisition |
|
(608,000 |
) |
|
|
— |
|
Net cash used in investing activities |
|
(576,306 |
) |
|
|
(57,119 |
) |
Financing activities |
|
|
|
||||
Proceeds from the issuance of convertible preferred stock, net of issuance costs |
|
— |
|
|
|
39,801 |
|
Proceeds from the issuance of common stock, net of issuance costs |
|
— |
|
|
|
69,701 |
|
Proceeds from the issuance of common stock pursuant to employee equity plans |
|
22,772 |
|
|
|
21,072 |
|
Tax payments related to net share settlements on restricted stock units |
|
(27,066 |
) |
|
|
(16,852 |
) |
Borrowings from warehouse credit facilities |
|
942,993 |
|
|
|
662,278 |
|
Repayments to warehouse credit facilities |
|
(948,979 |
) |
|
|
(644,551 |
) |
Borrowings from secured revolving credit facility |
|
624,828 |
|
|
|
89,619 |
|
Repayments to secured revolving credit facility |
|
(448,996 |
) |
|
|
(70,115 |
) |
Cash paid for secured revolving credit facility issuance costs |
|
(527 |
) |
|
|
(4 |
) |
Proceeds from issuance of convertible senior notes, net of issuance costs |
|
561,529 |
|
|
|
647,486 |
|
Purchases of capped calls related to convertible senior notes |
|
(62,647 |
) |
|
|
— |
|
Payments for repurchases and conversions of convertible senior notes |
|
(2,159 |
) |
|
|
(108,061 |
) |
Principal payments under finance lease obligations |
|
(796 |
) |
|
|
(221 |
) |
Other financing payables |
|
(10,611 |
) |
|
|
4,074 |
|
Net cash provided by financing activities |
|
650,341 |
|
|
|
694,227 |
|
Effect of exchange rate changes on cash, cash equivalents, and restricted cash |
|
(6 |
) |
|
|
(3 |
) |
Net change in cash, cash equivalents, and restricted cash |
|
(227,539 |
) |
|
|
698,372 |
|
Cash, cash equivalents, and restricted cash: |
|
|
|
||||
Beginning of period |
|
945,820 |
|
|
|
247,448 |
|
End of period |
$ |
718,281 |
|
|
$ |
945,820 |
|
Supplemental Financial Information and Business Metrics (unaudited) |
||||||||||||||||
|
Three Months Ended |
|||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Monthly average visitors (in thousands) |
44,665 |
|
49,147 |
|
48,437 |
|
46,202 |
|
44,135 |
|
49,258 |
|
42,537 |
|
35,519 |
|
Real estate services transactions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Brokerage |
19,428 |
|
21,929 |
|
21,006 |
|
14,317 |
|
16,951 |
|
18,980 |
|
13,828 |
|
10,751 |
|
Partner |
4,603 |
|
4,755 |
|
4,597 |
|
3,944 |
|
4,940 |
|
5,180 |
|
2,691 |
|
2,479 |
|
Total |
24,031 |
|
26,684 |
|
25,603 |
|
18,261 |
|
21,891 |
|
24,160 |
|
16,519 |
|
13,230 |
|
Real estate services revenue per transaction |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Brokerage |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Partner |
2,819 |
|
2,990 |
|
3,195 |
|
3,084 |
|
3,123 |
|
2,988 |
|
2,417 |
|
2,535 |
|
Aggregate |
9,352 |
|
9,661 |
|
9,850 |
|
9,233 |
|
9,030 |
|
8,686 |
|
8,175 |
|
8,211 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Aggregate home value of real estate services transactions (in millions) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S. market share by value |
1.15 % |
|
1.16 % |
|
1.18 % |
|
1.16 % |
|
1.04 % |
|
1.04 % |
|
0.94 % |
|
0.92 % |
|
Revenue from top-10 Redfin markets as a percentage of real estate services revenue |
61 % |
|
62 % |
|
64 % |
|
62 % |
|
63 % |
|
63 % |
|
63 % |
|
61 % |
|
Average number of lead agents |
2,485 |
|
2,370 |
|
2,456 |
|
2,277 |
|
1,981 |
|
1,820 |
|
1,399 |
|
1,826 |
|
RedfinNow Homes Sold |
600 |
|
388 |
|
292 |
|
171 |
|
83 |
|
37 |
|
162 |
|
171 |
|
Revenue per RedfinNow Home Sold |
622,251 |
|
599,010 |
|
570,930 |
|
525,173 |
|
471,551 |
|
504,583 |
|
444,690 |
|
461,916 |
|
Supplemental Financial Information (unaudited, in thousands) |
|||||||||||||||
|
Three Months Ended |
|
Twelve Months Ended |
||||||||||||
|
|
2021 |
|
|
|
2020 |
|
|
|
2021 |
|
|
|
2020 |
|
Revenue |
|
|
|
|
|
|
|
||||||||
Real estate services (brokerage) |
$ |
211,756 |
|
|
$ |
182,244 |
|
|
$ |
849,288 |
|
|
|
607,513 |
|
Real estate services (partner) |
|
12,976 |
|
|
|
15,426 |
|
|
|
54,046 |
|
|
|
43,695 |
|
Properties |
|
377,065 |
|
|
|
39,399 |
|
|
|
880,653 |
|
|
|
209,686 |
|
Rentals |
|
38,923 |
|
|
|
— |
|
|
|
121,877 |
|
|
|
— |
|
Mortgage |
|
3,996 |
|
|
|
5,140 |
|
|
|
19,818 |
|
|
|
15,834.547 |
|
Other |
|
3,347 |
|
|
|
3,073 |
|
|
|
13,609 |
|
|
|
12,377.25 |
|
Intercompany eliminations |
|
(5,006 |
) |
|
|
(765 |
) |
|
|
(16,526 |
) |
|
|
(3,013 |
) |
Total |
$ |
643,057 |
|
|
$ |
244,517 |
|
|
$ |
1,922,765 |
|
|
$ |
886,093 |
|
|
|
|
|
|
|
|
|
||||||||
Cost of revenue |
|
|
|
|
|
|
|
||||||||
Real estate services |
$ |
149,529 |
|
|
$ |
116,835 |
|
|
$ |
603,320 |
|
|
$ |
417,140 |
|
Properties |
|
373,105 |
|
|
|
41,275 |
|
|
|
870,052 |
|
|
|
214,382 |
|
Rentals |
|
6,774 |
|
|
|
— |
|
|
|
21,739 |
|
|
|
— |
|
Mortgage |
|
6,690 |
|
|
|
4,585 |
|
|
|
26,096 |
|
|
|
15,627 |
|
Other |
|
3,941 |
|
|
|
2,467 |
|
|
|
14,264 |
|
|
|
9,847 |
|
Intercompany eliminations |
|
(5,006 |
) |
|
|
(765 |
) |
|
|
(16,526 |
) |
|
|
(3,013 |
) |
Total |
$ |
535,033 |
|
|
$ |
164,397 |
|
|
$ |
1,518,945 |
|
|
$ |
653,983 |
|
|
|
|
|
|
|
|
|
||||||||
Gross Profit |
|
|
|
|
|
|
|
||||||||
Real estate services |
|
75,203 |
|
|
|
80,835 |
|
|
|
300,014 |
|
|
|
234,068 |
|
Properties |
|
3,960 |
|
|
|
(1,876 |
) |
|
|
10,601 |
|
|
|
(4,696 |
) |
Rentals |
|
32,149 |
|
|
|
— |
|
|
|
100,138 |
|
|
|
— |
|
Mortgage |
|
(2,694 |
) |
|
|
555 |
|
|
|
(6,278 |
) |
|
|
208 |
|
Other |
|
(594 |
) |
|
|
606 |
|
|
|
(655 |
) |
|
|
2,530 |
|
Total |
$ |
108,024 |
|
|
$ |
80,120 |
|
|
$ |
403,820 |
|
|
$ |
232,110 |
|
|
|
|
|
|
|
|
|
||||||||
Real estate services, properties, mortgage, and other operating expenses |
|
85,699 |
|
|
|
54,481 |
|
|
|
367,269 |
|
|
|
231,318 |
|
Rentals operating expenses |
|
47,554 |
|
|
|
— |
|
|
|
146,504 |
|
|
|
— |
|
Interest income |
|
163 |
|
|
|
215 |
|
|
|
635 |
|
|
|
2,074 |
|
Interest expense |
|
(3,939 |
) |
|
|
(11,864 |
) |
|
|
(11,762 |
) |
|
|
(19,495 |
) |
Income tax benefit |
|
744 |
|
|
|
— |
|
|
|
6,107 |
|
|
|
— |
|
Other income (expense), net |
|
1,259 |
|
|
|
45 |
|
|
|
5,360 |
|
|
|
(1,898 |
) |
Net (loss) income |
$ |
(27,002 |
) |
|
$ |
14,035 |
|
|
$ |
(109,613 |
) |
|
$ |
(18,527 |
) |
View source version on businesswire.com: https://www.businesswire.com/news/home/20220217005835/en/
Investor Relations
ir@redfin.com
Public Relations
press@redfin.com
Source: Redfin
FAQ
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