RDFN · Redfin Corp - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $221.03M | - | $278.01M | $295.20M | $225.48M | - | $268.96M | $275.56M | $325.66M | - |
| Cost of Revenue | $154.67M | - | $170.62M | $175.37M | $154.67M | - | $170.62M | $175.37M | $269.45M | - |
| Gross Profit | $70.63M | - | $101.86M | $109.59M | $70.81M | - | $98.34M | $100.19M | $56.21M | - |
| R&D | $39.49M | - | $40.33M | $42.22M | $46.43M | - | $44.39M | $47.14M | $48.19M | - |
| SG&A | $56.47M | - | $58.79M | $54.70M | $67.87M | - | $55.38M | $61.77M | $69.96M | - |
| Total Operating Expenses | $156.15M | - | $128.81M | $138.51M | $140.07M | - | $123.87M | $148.04M | $160.12M | - |
| D&A | $8.31M | - | $4.78M | $4.75M | $14.40M | - | $4.55M | $7.38M | $17.01M | - |
| Operating Income | ($85.51M) | - | ($26.95M) | ($28.93M) | ($69.26M) | - | ($25.53M) | ($47.85M) | ($103.91M) | - |
| Interest Expense | $7.78M | - | $8.54M | $6.09M | $4.87M | - | $1.60M | $1.77M | $1.92M | - |
| Income Tax | $255.0K | - | ($12.0K) | $559.0K | ($172.0K) | - | $239.0K | $233.0K | $410.0K | - |
| Net Income | ($92.52M) | - | ($33.78M) | ($27.88M) | ($66.77M) | - | ($18.97M) | ($27.36M) | ($60.80M) | - |
| EPS - Basic | - | - | ($0.28) | ($0.23) | ($0.57) | - | ($0.17) | ($0.25) | ($0.55) | - |
| EPS - Diluted | - | - | ($0.28) | ($0.23) | ($0.57) | - | ($0.17) | ($0.25) | ($0.55) | - |
Balance Sheet
| Line item | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $183.54M | $124.74M | $165.66M | $201.81M | $107.13M | $149.76M | $125.80M | $118.78M | $149.94M | $239.84M |
| Accounts Receivable | $39.73M | $48.73M | $74.97M | $75.52M | $54.84M | $51.74M | $55.12M | $67.75M | $48.14M | $54.88M |
| Inventory | - | - | - | - | - | - | - | - | $10.69M | $114.27M |
| Accounts Payable | $20.11M | $16.85M | $14.28M | $11.61M | $15.91M | $10.51M | $12.00M | $14.66M | $10.15M | $11.82M |
| Current Assets | $458.72M | $375.44M | $504.77M | $524.42M | $378.29M | $445.05M | $396.83M | $560.50M | $593.04M | $776.46M |
| Total Assets | $1.08B | $1.01B | $1.15B | $1.18B | $1.07B | $1.15B | $1.13B | $1.30B | $1.35B | $1.57B |
| Current Liabilities | $395.39M | $332.56M | $337.48M | $353.38M | $284.54M | $268.44M | $248.82M | $384.81M | $329.19M | $354.64M |
| Long-term Debt | - | - | - | - | - | - | - | - | - | - |
| Total Liabilities | $1.23B | $1.10B | $1.18B | $1.19B | $1.08B | $1.11B | $1.08B | $1.25B | $1.29B | $1.47B |
| Stockholders' Equity | ($157.99M) | ($82.67M) | ($65.19M) | ($52.75M) | ($45.75M) | $2.75M | $5.75M | $9.50M | $20.66M | $63.95M |
| Retained Earnings | ($1.08B) | ($988.13M) | ($951.77M) | ($917.99M) | ($890.11M) | ($823.33M) | ($800.43M) | ($781.46M) | ($754.11M) | ($693.31M) |
Cash Flow
| Line item | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $37.88M | - | - | - | ($45.98M) | - | - | - | $26.70M | - |
| Investing Cash Flow | ($3.23M) | - | - | - | $42.06M | - | - | - | $22.0K | - |
| Financing Cash Flow | $24.07M | - | - | - | ($38.68M) | - | - | - | ($116.56M) | - |
| CapEx | $3.23M | - | - | - | $3.56M | - | - | - | $2.92M | - |
| Free Cash Flow | $34.64M | - | - | - | ($49.54M) | - | - | - | $23.79M | - |
Ratios
| Metric | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | 32.0% | - | 36.6% | 37.1% | 31.4% | - | 36.6% | 36.4% | 17.3% | - |
| Operating margin | -38.7% | - | -9.7% | -9.8% | -30.7% | - | -9.5% | -17.4% | -31.9% | - |
| EBITDA margin | -34.9% | - | -8.0% | -8.2% | -24.3% | - | -7.8% | -14.7% | -26.7% | - |
| Net margin | -41.9% | - | -12.2% | -9.4% | -29.6% | - | -7.1% | -9.9% | -18.7% | - |
| Free cash flow margin | 15.7% | - | - | - | -22.0% | - | - | - | 7.3% | - |
| FCF / Net income | -0.37 | - | - | - | 0.74 | - | - | - | -0.39 | - |
| R&D / Revenue | 17.9% | - | 14.5% | 14.3% | 20.6% | - | 16.5% | 17.1% | 14.8% | - |
| SG&A / Revenue | 25.5% | - | 21.1% | 18.5% | 30.1% | - | 20.6% | 22.4% | 21.5% | - |
| Effective tax rate | - | - | - | - | - | - | - | - | - | - |
| Return on assets | -8.6% | - | -2.9% | -2.4% | -6.2% | - | -1.7% | -2.1% | -4.5% | - |
| Return on equity | 58.6% | - | 51.8% | 52.9% | 146.0% | - | -329.8% | -287.9% | -294.2% | - |
| Return on invested capital | - | - | - | - | - | - | - | - | - | - |
| Liquidity | ||||||||||
| Current ratio | 1.16 | 1.13 | 1.50 | 1.48 | 1.33 | 1.66 | 1.59 | 1.46 | 1.80 | 2.19 |
| Quick ratio | 1.16 | 1.13 | 1.50 | 1.48 | 1.33 | 1.66 | 1.59 | 1.46 | 1.77 | 1.87 |
| Cash ratio | 0.46 | 0.38 | 0.49 | 0.57 | 0.38 | 0.56 | 0.51 | 0.31 | 0.46 | 0.68 |
| Leverage | ||||||||||
| Debt / Equity | - | - | - | - | - | - | - | - | - | - |
| Debt / Assets | - | - | - | - | - | - | - | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Interest coverage | -11.0x | - | -3.2x | -4.8x | -14.2x | - | -15.9x | -27.1x | -54.1x | - |
| Equity multiplier | -6.81 | -12.25 | -17.66 | -22.40 | -23.41 | 419.81 | 195.70 | 137.21 | 65.55 | 24.62 |
| Liabilities / Assets | 1.15 | 1.08 | 1.02 | 1.01 | 1.01 | 0.96 | 0.96 | 0.96 | 0.96 | 0.93 |
| Efficiency | ||||||||||
| Asset turnover | 0.21 | - | 0.24 | 0.25 | 0.21 | - | 0.24 | 0.21 | 0.24 | - |
| Inventory turnover | - | - | - | - | - | - | - | - | 25.22 | - |
| Days sales outstanding | 66d | - | 98d | 93d | 89d | - | 75d | 90d | 54d | - |
| Days inventory outstanding | - | - | - | - | - | - | - | - | 14d | - |
| Days payable outstanding | 47d | - | 31d | 24d | 38d | - | 26d | 31d | 14d | - |
| Cash conversion cycle | - | - | - | - | - | - | - | - | 55d | - |
| Valuation | ||||||||||
| P / E | - | - | - | - | - | - | - | - | - | - |
| P / B | - | - | - | - | - | - | - | - | - | - |
| P / S | - | - | - | - | - | - | - | - | - | - |
| EV / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | -2.0% | - | 3.4% | 7.1% | -30.8% | - | -55.2% | -54.6% | -45.5% | - |
| Revenue CAGR (3y) | -28.2% | - | -19.9% | -14.4% | -5.6% | - | 4.3% | 8.8% | 19.5% | - |
| Revenue CAGR (5y) | 3.0% | - | 3.1% | 8.3% | 23.1% | - | 19.7% | 14.1% | 32.4% | - |
| Gross profit growth (YoY) | -0.3% | - | 3.6% | 9.4% | 26.0% | - | 69.3% | -15.1% | -22.5% | - |
| Operating income growth (YoY) | -23.5% | - | -5.6% | 39.6% | 33.3% | - | 70.0% | 35.9% | -22.1% | - |
| Net income growth (YoY) | -38.6% | - | -78.1% | -1.9% | -9.8% | - | 79.0% | 65.0% | 33.0% | - |
| EPS growth (YoY) | - | - | -64.7% | 8.0% | -3.6% | - | 79.5% | 65.8% | 36.0% | - |
| EPS CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | - | - | - | - | - | - | - | - | -66.8% | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | -245.3% | - | - | - | - | -95.7% | -94.6% | -94.8% | -91.2% | -79.4% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2024-12-31.
Business segments
$1.04B totalReal Estate Segment$642.87M · 61.6%
Rentals Segment$203.74M · 19.5%
Mortgage Segments$139.83M · 13.4%
Title$37.51M · 3.6%
Monetization$19.04M · 1.8%
Peer comparison
Same SIC group: Real Estate Agents & Managers (For Others)
Comparing Redfin Corp against the 5 most active filers in the same SIC group.