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

We are working hard and as soon as possible to provide company description soon. Feel free to reach out to request it sooner: improve@real-clear-investing.com

Income Statement

Quarterly Annual
(USD in thousand)
Selected Year:
31-Dec
2020
Revenue
Gross receipts in the form of cash (great!) and promises to pay (Account Receivables - not so great as some of them will never be collected but reality of business!) from all its customers
100%
76.1% —

Service revenue

23.9% —

Product revenue
Selected Year:
Last Twelve Months LTM
Last Quarter Annualized LQA
Service revenue
-
-
 359,545 441,927 539,288 674,345 674,345 817,808
Product revenue
-
-
 10,491 44,993 240,508 211,748 211,748 160,260
Total Revenue
$45,679
$45,679
 $370,036 $486,920 $779,796 $886,093 $886,093 $978,068
Selected Year:
31-Dec
2020
Operating expenses
Cost (labor, materials, depreciation, overhead, etc) for delivering service or manufacturing a product that business sells
99.9%
49.4% —

Service costs

24.4% —

Cost of product

10.4% —

General and administrative

9.5% —

Product technology and development

6.2% —

Marketing
Selected Year:
Last Twelve Months LTM
Last Quarter Annualized LQA
Cost of revenue
45,679
45,679
 - - - - - -
Cost of product
-
-
 10,384 46,613 245,189 216,499 216,499 167,020
Service costs
-
-
 247,832 320,883 390,504 437,484 437,484 490,568
Total cost of revenue
45,679
45,679
 258,216 367,496 635,693 653,983 653,983 657,588
Gross profit
45,679
45,679
 $111,820 $119,424 $144,103 $232,110 $232,110 $320,480
Product technology and development
45,679
45,679
 42,532 53,797 69,765 84,297 84,297 94,440
Marketing
45,679
45,679
 32,251 44,061 76,710 54,881 54,881 29,080
General and administrative
45,679
45,679
 53,009 65,500 76,874 92,140 92,140 94,404
Total operating expenses
45,679
45,679
 127,792 163,358 223,349 231,318 231,318 217,924
Selected Year:
31-Dec
2020
Operating Income
Income after excluding Operating Expenses from Total Revenue
0.1%
0.1% —

Operating Income

Key metric that shows earnings potential of the company's business model
Selected Year:
Last Twelve Months LTM
Last Quarter Annualized LQA
Operating income
$45,679
$45,679
 ($15,972) ($43,934) ($79,246) $792 $792 $102,556
Selected Year:
31-Dec
2020
Non-operating expenses
Cost usually unrelated to delivering service or manufacturing a product that business sells
0.2%
0.2% —

Other income (loss) net
Selected Year:
Last Twelve Months LTM
Last Quarter Annualized LQA
Other income (loss) net
-
-
 - 221 223 (1,898) (1,898) -
Other income
45,679
45,679
 88 221 223 - - -
Total non-operating income (expense)
45,679
45,679
 88 221 223 (1,898) (1,898) -
Selected Year:
31-Dec
2020
Earnings before Interest and Taxes (EBIT)
Income after excluding Operating and Non-operating Expenses from Total Revenue
0.1%
0.1% —

EBIT

Another income metric but unlike Operating Income it is closer to the ultimate income metric - Net Income by removing expenses that are not related to earning Revenue as they are supposed to be accidental and transitory
Selected Year:
Last Twelve Months LTM
Last Quarter Annualized LQA
EBIT
$45,679
$45,679
 ($15,884) ($43,713) ($79,023) ($1,106) ($1,106) $102,556
Selected Year:
31-Dec
2020
Interest Expense and Income, Taxes
Expenses driven mostly by company management's choices, nature of business (capital intensive vs not) about financing (debt vs equity) and legal structure
2.0%
0.2% —

Interest income

2.2% —

Interest expense
Selected Year:
Last Twelve Months LTM
Last Quarter Annualized LQA
Interest expense
-
45,679
 - (3,681) (8,928) (19,495) (19,495) (47,456)
Interest income
45,679
45,679
 882 5,416 7,146 2,074 2,074 860
Total interest income and other income TEST - ODD
45,679
-
 - - - - - -
Selected Year:
31-Dec
2020
Net income (loss)
Ultimate measure of Income - Net result after excluding all expenses from Total Revenue
2.1%
2.1% —

Net income (loss)

It is a residue that is left from Total Revenue after paying all kind of expenses and belongs to all equity holders in the company. Some of these shareholders such Non-controlling interest or Preferred equity gets their share before Common shareholders
Selected Year:
Last Twelve Months LTM
Last Quarter Annualized LQA
Net income (loss)
$45,679
$45,679
 ($15,002) ($41,978) ($80,805) ($18,527) ($18,527) -
Redeemable convertible preferred stock accretion
45,679
45,679
 (175,915) - - - - -
Net income (loss) attributable to common stock - basic and diluted Net income (loss) attributable to common stock - basic and diluted
45,679
45,679
 (190,917) (41,978) (80,805) (22,981) (22,981) 49,580
Convertible preferred stock dividends
-
-
 - - - (4,454) (4,454) -

Basic Shares Outstanding
Basic shares outstanding as of certain dates reported by Company on its annual and quarterly filings, these numbers are NOT used calculation of basic EPS. They help to see share issuance by company in perspective
Common
-
-
 81,778,130 90,488,242 93,123,373 103,206,434 103,206,434 103,206,434
Selected Year:
31-Dec
2020
EPS
Net Income / Shares Outstanding = EPS before dilution or Basic EPS; Net Income/ ( Shares Outstanding + potentially available shares from conversion of various option instruments)
Selected Year:
Last Twelve Months LTM
Last Quarter Annualized LQA
Net Income per basic share
$45,678,795.00
$45,678,795.00
 ($4.47) ($0.49) ($0.88) ($0.23) ($0.23) $0.52
Net Income per diluted share
$45,678,795.00
$45,678,795.00
 ($4.47) ($0.49) ($0.88) ($0.23) ($0.23) $0.52