Company name:

Redfin Corp

  • IPO SHARE PRICE:
    $15.00
  • IPO DATE:
    28 July 2017
  • TICKER:
    RDFN
  • MAIN STOCK EXCHANGE:
    NASDAQ Global Select
  • CURRENT HQ LOCATION:
    1099 Stewart Street Suite 600 Seattle WA 98101
  • FISCAL YEAR END:
    December 31
  • INCORPORATION JURISDICTION:
    DE
  • ORGANIZED AS THE FOLLOWING LEGAL TYPE:
    Corporation
  • Investor Relations Webpage:
    Coming soon!
  • TAX RATE:
    USA federal corporate nominal income tax rate is 21%

Short Description

Redfin Corp

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Balance Sheet

Quarterly Annual
(USD in thousand)
68.0% 9.7% 4.0% 3.6% 3.1%
Selected Year:
31-Dec
2020
Current Assets
Most valuable part of Current Assets is Cash and Marketable Securities which should be watched carefully; at the same time high and growing level of Accounts Receivables is very dangerous sign
91.2%
68.0% —

Cash and cash equivalents

9.7% —

Short-term passive investments

4.0% —

Accounts Receivable

3.6% —

Inventory

3.1% —

Loans held for sale

1.5% —

Restricted cash and cash equivalents

0.9% —

Prepaid expenses

0.4% —

Other short-term assets

Liquidity
Selected Year:
The most liquid asset, however, most companies don't keep much of it and invest excess cash into marketable securities such as Government bonds - in the US - Treasuries
Cash and cash equivalents
$45,679
 $208,342 $432,608 $234,679 $925,276
Short-term passive investments
$45,679
 - - 70,029 131,561
Restricted cash and cash equivalents
$45,679
 4,316 6,446 12,769 20,544
Accounts Receivable
-
 - 15,363 19,223 54,719
Accrued revenue
$45,679
 13,334 - - -
Inventory
-
 3,382 22,694 74,590 49,158
Loans held for sale
$45,679
 1,891 4,913 21,985 42,539
Prepaid expenses
$45,679
 8,613 11,916 14,822 12,131
Other short-term assets
$45,679
 328 2,307 3,496 4,898
Total current assets
$45,679
 $240,206 $496,247 $451,593 $1,240,826
3.2% 3.2%
Selected Year:
31-Dec
2020
Non-Current Assets
Non-current assets characterize company's business: high Property, Plant, and Equipment means that company is in capital-intensive industry which typically is very cyclical (earnings fluctuate a lot); watch out for high level of Goodwill and other non-intangibles which is bad sign as they typically worth very low relative to their value shown on the balance sheet
8.8%
3.2% —

Right-of-use assets

3.2% —

Property and equipment net

0.9% —

Long-term passive investments

0.8% —

Goodwill and intangible assets

0.6% —

Other assets non-current
Selected Year:
Long-term passive investments
-
 - - 30,978 11,922
Property and equipment net
45,679
 22,318 25,187 39,577 43,988
Right-of-use assets
-
 - - 52,004 44,149
Deferred offering costs
45,679
 - - - -
Intangible assets
45,679
 3,294 - - -
Goodwill and intangible assets
-
 - 11,992 11,504 11,016
Goodwill
45,679
 9,186 - - -
Other assets non-current
-
 - - 10,557 8,619
Other non-current assets
45,679
 6,951 9,395 10,557 -
Total non-current assets
45,679
 41,749 46,574 144,620 119,694
Total assets
45,679
 $281,955 $542,821 $596,213 $1,360,520
5.1% 3.6% 35.9% 63.3%
Selected Year:
31-Dec
2020
Current Liabilities
Current Liabilities represent company's short-term dues to others. The most important part to watch for is short-term debt and accounts payables
13.7%
5.1% —

Accrued liabilities

2.9% —

Borrowings under Warehouse credit facility

1.8% —

Borrowings under Revolving Credit Facility

1.7% —

Senior convertible notes

1.0% —

Other payables

0.9% —

Current portion of Leases

0.4% —

Accounts payable
Selected Year:
Accounts payable
$45,679
 $1,901 $2,516 $2,122 $5,644
Other payables
$45,679
 4,068 6,544 7,884 13,184
Accrued liabilities
$45,679
 26,605 30,837 38,022 69,460
Deferred rent
$45,679
 1,267 1,588 43 -
Borrowings under Revolving Credit Facility
-
 - - 4,444 23,949
Borrowings under Warehouse credit facility
-
 2,016 4,733 21,302 39,029
Term Loan
$45,679
 - - - -
Senior convertible notes
-
 - - - 22,482
Current portion of Leases
-
 - - 11,408 11,973
Total current liabilities
$45,679
 $35,857 $46,218 $85,182 $185,721
Selected Year:
31-Dec
2020
Non-Current Liabilities
The most critical items are revolving credit facility, term loans, and then notes - any forms of debt; in addition, pay attention to items like pension liabilites and leases- hidden debt
40.0%
35.9% —

Senior convertible notes

3.6% —

Lease liabilities and deposits

0.5% —

Payroll tax liability
Selected Year:
Payroll tax liability
-
 - - - 6,812
Deferred rent
$45,679
 10,668 11,079 - -
Senior convertible notes
-
 - 113,586 119,716 488,268
Leases
-
 - - 59,869 -
Lease liabilities and deposits
-
 - - 59,869 49,339
Total long-term liabilities
$45,679
 $10,668 $124,665 $179,585 $544,419
Total Liabilities
$45,679
 $46,525 $170,883 $264,767 $730,140
Selected Year:
31-Dec
2020
Equity
It's residue that is owned by shareholders after satisfying all of the liabilities with all of the assets; the larger the amount, the better the business is
43.4%
63.3% —

Additional paid-in capital

2.9% —

Convertible preferred stock Series A

0.0% —

Accumulated other comprehensive income

0.0% —

Common stock
Selected Year:
Redeemable convertible preferred stock
$45,679
 - - - -
Convertible preferred stock Series A
-
 - - - 39,823
Preferred Stock
$45,679
 - - - -
Common stock
$45,679
 81 90 93 103
Accumulated deficit
$45,679
 (129,003) (170,981) (251,786) (270,313)
Additional paid-in capital
$45,679
 364,352 542,829 583,097 860,556
Accumulated other comprehensive income
-
 - - 42 211
Total Equity
$45,679
 $235,430 $371,938 $331,446 $590,557
Total Liabilities and Equity
$45,679
 $281,955 $542,821 $596,213 $1,360,520