Company name:

Redfin Corp

  • IPO SHARE PRICE:
    $15.00
  • IPO DATE:
    July 28, 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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Statement of Cash Flow

Quarterly Annual
(USD in thousand)
Selected Year:
31-Dec
2020
OPERATING ACTIVITIES
Cash received and spent on operating activites of business — buying materials, paying salaries, receiving payments from clients, etc
81.6% - Proceeds from sale of loans held for sale
4.8% - Accrued liabilities payables and non-current payroll tax liabilities
4.6% - Stock-based compensation
3.2% - Inventory
1.8% - Depreciation and amortization
1.5% - Amortization of debt original issue discount and issuance cost
1.1% - Lease expense
0.6% - Loss on repurchases and conversions of convertible senior notes
0.3% - Prepaid expenses and other assets
0.3% - Accounts payable
0.3% - Asset impairments
SOURCEs
3.2% 81.6% 4.8% 4.6%
100 %
0%
USES
7.6% 4.4% 84.0%
84.0% - Origination of loans held for sale
4.4% - Accounts receivable
2.3% - Net income (loss)
1.4% - Lease liabilities
0.2% - Gain on IRLCs forward sales commitments and loans held for sale
0.0% - Other
Selected Year:
Last Twelve Months LTM
Last Quarter Annualized LQA
Net income (loss)
$45,679
$45,679
$45,679
 ($41,978) ($80,805) ($18,527) ($18,527) $56,140
Depreciation and amortization
$45,679
$45,679
$45,679
 8,465 9,230 14,564 14,564 15,932
Amortization of debt original issue discount and issuance cost Amortization of debt original issue discount and issuance cost
-
$45,679
$45,679
 2,584 6,385 12,038 12,038 27,136
Stock-based compensation
$45,679
$45,679
$45,679
 20,438 27,814 36,973 36,973 44,836
Lease expense
-
-
-
 - 6,940 9,204 9,204 9,532
Asset impairments
-
-
-
 - - 2,063 2,063 -
Gain on IRLCs forward sales commitments and loans held for sale Gain on IRLCs forward sales commitments and loans held for sale
-
-
-
 (219) (493) (1,921) (1,921) (7,684)
Loss on repurchases and conversions of convertible senior notes Loss on repurchases and conversions of convertible senior notes
-
-
-
 - - 4,634 4,634 18,536
Accrued revenue
$45,679
$45,679
$45,679
 (2,029) - - - -
Accounts receivable
-
-
$45,679
 (2,029) (3,861) (35,496) (35,496) (54,536)
Inventory
-
$45,679
$45,679
 (19,312) (51,896) 25,432 25,432 (96,660)
Prepaid expenses
$45,679
$45,679
$45,679
 (3,303) - - - -
Prepaid expenses and other assets
-
-
$45,679
 (5,725) (3,539) 2,333 2,333 (11,340)
Other assets
$45,679
$45,679
$45,679
 (444) - - - -
Accounts payable
$45,679
$45,679
$45,679
 617 (394) 2,086 2,086 4,940
Accrued liabilities payables and non-current payroll tax liabilities Accrued liabilities payables and non-current payroll tax liabilities
-
-
-
 4,435 7,422 39,092 39,092 42,492
Other payables
-
$45,679
$45,679
 318 - - - -
Accrued expenses
$45,679
-
-
 - - - - -
Accrued liabilities
-
$45,679
$45,679
 4,191 - - - -
Accrued liabilities and other payables
-
-
$45,679
 4,509 7,459 - - -
Deferred lease liability
$45,679
$45,679
$45,679
 (1,249) - - - -
Deferred rent
-
-
$45,679
 (1,249) 1 - - -
Lease liabilities
-
-
-
 - (7,209) (11,312) (11,312) (11,776)
Origination of loans held for sale
$45,679
$45,679
$45,679
 (86,023) (395,638) (677,310) (677,310) (792,628)
Proceeds from sale of loans held for sale
$45,679
$45,679
$45,679
 83,001 378,566 657,763 657,763 792,632
Other
-
-
-
 - (663) (349) (349) 1,376
Net cash provided by (used in) operating activities
$45,679
$45,679
$45,679
 ($36,702) ($107,610) $61,267 $61,267 $38,928
Selected Year:
31-Dec
2020
INVESTING ACTIVITIES
Cash spent on acquiring plant, equipment and other businesses, cash recei0 from sale of plant, equipment and subsidiaries as well cash parked temporarily in different securities - government bonds typically
69.5% - Maturities of investment securities
3.7% - (Purchases) sale of investment securities
SOURCEs
26.8% 3.7% 69.5%
100 %
0%
USES
6.9% 93.1%
93.1% - Purchases of investment securities
6.9% - (Purchase) sale of property and equipment
Selected Year:
Last Twelve Months LTM
Last Quarter Annualized LQA
Purchases of marketable securities
$45,679
$45,679
$45,679
 - - - - -
Maturities and sales of marketable securities
$45,679
$45,679
$45,679
 - - - - -
(Purchases) sale of investment securities
-
$45,679
$45,679
 (2,000) 11,486 7,887 7,887 5,216
Sale of investment securities
-
-
$45,679
 - 11,486 - - -
Purchases of investment securities
-
-
$45,679
 (2,000) (136,265) (198,172) (198,172) (252,216)
Maturities of investment securities
-
-
-
 - 24,400 147,852 147,852 260,320
(Purchase) sale of property and equipment
$45,679
$45,679
$45,679
 (8,303) (15,533) (14,686) (14,686) (17,180)
Net cash provided by (used in) investing activities
$45,679
$45,679
$45,679
 ($10,303) ($115,912) ($57,119) ($57,119) ($3,860)
Selected Year:
31-Dec
2020
FINANCING ACTIVITIES
Items in this group are concerned with borrowing funds, repaying debt, issuing equity, buying back shares, etc.
43.2% - Borrowing from Warehouse Revolving Credit Facility
42.2% - Issuance of senior convertible notes
5.8% - Borrowing under Revolving Credit Facility
4.5% - Issuance of common stock
2.6% - Issuance of convertible preferred stock
1.4% - Issuance of common stock from excercise of stock options
0.3% - Other payables - customer escrow deposits related to title services
SOURCEs
42.2% 43.2% 5.8% 4.5%
100 %
0%
USES
45.3% 7.0% 4.6% 42.0%
42.0% - Repayment of Warehouse Revolving Credit Facility
7.0% - Costs of repurchases and conversions of convertible senior notes
4.6% - Repayment of Revolving Credit Facility
1.1% - Employee withholding taxes paid upon settlement of restricted stock units
0.0% - Repayment of finance leases
0.0% - Revolving credit facility issuance costs
Selected Year:
Last Twelve Months LTM
Last Quarter Annualized LQA
Initial Public Offering (IPO) net
$45,679
-
$45,679
 - - - - -
Secondary (Follow-on) Public Offering net
-
$45,679
$45,679
 107,593 - - - -
Issuance of common stock
-
-
-
 107,593 - 69,701 69,701 -
Issuance of convertible preferred stock
-
-
-
 - - 39,801 39,801 -
Issuance of common stock from excercise of stock options Issuance of common stock from excercise of stock options
-
-
-
 23,407 16,107 21,072 21,072 84,288
Issuance of common stock under Employee Stock Purchase Plan (ESPP) Issuance of common stock under Employee Stock Purchase Plan (ESPP)
-
-
$45,679
 23,407 16,107 - - -
Proceeds from issuance of common stock upon exercise of stock options Proceeds from issuance of common stock upon exercise of stock options
$45,679
$45,679
$45,679
 23,407 - - - -
Initial public offering costs
$45,679
$45,679
$45,679
 - - - - -
Issuance costs of redeemable convertible preferred stock Issuance costs of redeemable convertible preferred stock
$45,679
-
-
 - - - - -
Borrowing under Revolving Credit Facility
-
-
-
 - 4,444 89,619 89,619 128,964
Repayment of Revolving Credit Facility
-
-
-
 - - (70,115) (70,115) (92,864)
Borrowing from Warehouse Revolving Credit Facility
$45,679
$45,679
$45,679
 83,842 388,586 662,278 662,278 755,980
Repayment of Warehouse Revolving Credit Facility
$45,679
$45,679
$45,679
 (81,125) (372,017) (644,551) (644,551) (761,096)
Issuance of senior convertible notes
-
$45,679
$45,679
 138,953 - 647,486 647,486 2,589,944
Issuance of Convertible Notes
-
-
-
 138,953 - - - -
Repayment of finance leases
-
-
-
 - (72) (221) (221) (648)
Costs of repurchases and conversions of convertible senior notes Costs of repurchases and conversions of convertible senior notes
-
-
-
 - - (108,061) (108,061) (432,244)
Revolving credit facility issuance costs
-
-
-
 - (922) (4) (4) (16)
Debt issuance costs
-
-
-
 - (922) - - -
Other payables - customer escrow deposits related to title services Other payables - customer escrow deposits related to title services
$45,679
$45,679
$45,679
 2,158 883 4,074 4,074 7,908
Employee withholding taxes paid upon settlement of restricted stock units Employee withholding taxes paid upon settlement of restricted stock units
-
$45,679
$45,679
 (1,426) (5,126) (16,852) (16,852) (23,460)
Proceeds from tender offer
$45,679
-
-
 - - - - -
In-substance dividend paid in relation to tender offer In-substance dividend paid in relation to tender offer
$45,679
-
-
 - - - - -
Net cash provided by (used in) financing activities
$45,679
$45,679
$45,679
 $273,402 $31,883 $694,227 $694,227 $2,196,296
Selected Year:
31-Dec
2020
NET CHANGE IN CASH
Grand Total for sum of cash flows coming from operations, investing and financing
$698,372,000
Selected Year:
Last Twelve Months LTM
Last Quarter Annualized LQA
Cash and equivalents - Beginning of period
$45,679
$45,679
$45,679
 $212,658 $439,055 $247,448 - $1,551,864
Effect of changes in foreign exchange rates on cash
-
-
-
 - 32 (3) - 52
(Decrease) increase in cash and cash equivalents
$45,679
$45,679
$45,679
 226,397 (191,607) 698,372 - 2,231,416
Cash and equivalents - End of period
$45,679
$45,679
$45,679
 $439,055 $247,448 $945,820 - $3,783,280