Balance Sheet Redfin Corporation

Equities

RDFN

US75737F1084

Real Estate Services

Real-time Estimate Cboe BZX Other stock markets 09:39:59 2024-09-12 EDT			5-day change	1st Jan Change
11.00 ^USD	+0.73%		+11.49%	+5.77%

09-10	August Apartment Rents Rise at Fastest Pace Since April 2023, Redfin Says	MT
09-09	Transcript : Redfin Corporation Presents at Goldman Sachs Communacopia + Technology Conference 2024, Sep-09-2024 10:10 AM

d633dc1ff3d6e857eabee2.lYLeIudI2BiFZ8Lo4nNIDNOFZKPBFbZ4hqYgk2QhqLU.4tSde6QQtVewU6iquikaOp3mBc-mJ9lBtotZ2xIV3Mym7-1ohjGNa7ABlw

Published financial data: REDFIN CORPORATION

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	780M	886M	1.92B	2.28B	977M
Total Revenues	780M	886M	1.92B	2.28B	977M
Cost of Goods Sold, Total	636M	654M	1.52B	2B	647M
Gross Profit	144M	232M	404M	286M	330M
Selling General & Admin Expenses, Total	154M	141M	349M	410M	357M
R&D Expenses	69.76M	84.3M	157M	196M	183M
Other Operating Expenses, Total	223M	225M	506M	606M	540M
Operating Income	-79.25M	7.31M	-102M	-320M	-210M
Interest Expense, Total	-8.93M	-19.5M	-11.76M	-17.74M	-9.52M
Interest And Investment Income	7.15M	2.07M	635K	6.64M	10.53M
Net Interest Expenses	-1.78M	-17.42M	-11.13M	-11.11M	1.01M
Other Non Operating Income (Expenses)	223K	21K	5.36M	-3.77M	-437K
EBT, Excl. Unusual Items	-80.8M	-10.09M	-108M	-335M	-210M
Restructuring Charges	-	-7.86M	-	-40.47M	-7.93M
Merger & Related Restructuring Charges	-	-	-7.92M	-2.44M	-8K
Gain (Loss) On Sale Of Investments	-	-1.92M	-	-	-
Asset Writedown	-	-	-	-	-1.95M
Legal Settlements	-	-	-	-	-
Other Unusual Items	-	1.35M	-	57.19M	94.02M
EBT, Incl. Unusual Items	-80.8M	-18.53M	-116M	-321M	-125M
Income Tax Expense	-	-	-6.11M	126K	979K
Earnings From Continuing Operations	-80.8M	-18.53M	-110M	-321M	-126M
Earnings Of Discontinued Operations	-	-	-	-	-3.63M
Net Income to Company	-80.8M	-18.53M	-110M	-321M	-130M
Net Income - (IS)	-80.8M	-18.53M	-110M	-321M	-130M
Preferred Dividend and Other Adjustments	-	4.45M	7.27M	1.56M	1.07M
Net Income to Common Incl Extra Items	-80.8M	-22.98M	-117M	-323M	-131M
Net Income to Common Excl. Extra Items	-80.8M	-22.98M	-117M	-323M	-127M
Per Share Items
Net EPS - Basic	-0.88	-0.23	-1.12	-2.99	-1.16
Basic EPS - Continuing Operations	-0.88	-0.23	-1.12	-2.99	-1.13
Basic Weighted Average Shares Outstanding	91.58M	98.57M	105M	108M	113M
Net EPS - Diluted	-0.88	-0.23	-1.12	-2.99	-1.16
Diluted EPS - Continuing Operations	-0.88	-0.23	-1.12	-2.99	-1.13
Diluted Weighted Average Shares Outstanding	91.58M	98.57M	105M	108M	113M
Normalized Basic EPS	-0.55	-0.06	-0.64	-1.94	-1.16
Normalized Diluted EPS	-0.55	-0.06	-0.64	-1.94	-1.16
Payout Ratio	-	-	-	-	-
Supplemental Items
EBITDA	-70.02M	21.87M	-55.12M	-256M	-147M
EBITA	-78.76M	7.8M	-75.13M	-282M	-171M
EBIT	-79.25M	7.31M	-102M	-320M	-210M
EBITDAR	-58.4M	34.81M	-39.56M	-234M	-127M
Total Revenues (As Reported)	780M	886M	1.92B	2.28B	-
Effective Tax Rate - (Ratio)	-	-	5.28	-0.04	-0.78
Current Domestic Taxes	-	-	1.22M	1.08M	959K
Total Current Taxes	-	-	1.22M	1.08M	959K
Deferred Domestic Taxes	-	-	-7.32M	-958K	20K
Total Deferred Taxes	-	-	-7.32M	-958K	20K
Normalized Net Income	-50.5M	-6.31M	-67.37M	-210M	-131M
Interest on Long-Term Debt	8.92M	14.79M	11.6M	17.34M	10.85M
Supplemental Operating Expense Items
Advertising Expense	64.56M	43.18M	122M	137M	103M
Marketing Expenses	10.73M	10.14M	14.81M	16.96M	9.41M
Selling and Marketing Expenses	76.71M	54.88M	139M	158M	118M
General and Administrative Expenses	73.23M	81.25M	204M	244M	231M
Research And Development Expense From Footnotes	69.76M	84.3M	157M	196M	183M
Net Rental Expense, Total	11.62M	12.94M	15.56M	21.37M	19.99M
Imputed Operating Lease Interest Expense	4.95M	4.74M	1.35M	2.1M	1.29M
Imputed Operating Lease Depreciation	6.66M	8.2M	14.21M	19.27M	18.7M
Stock-Based Comp., COGS (Total)	6.09M	8.84M	13.61M	15.95M	12.91M
Stock-Based Comp., R&D Exp. (Total)	12.36M	16.56M	23.28M	29.61M	33.11M
Stock-Based Comp., S&M Exp. (Total)	1.42M	1.57M	2.35M	4.09M	5.15M
Stock-Based Comp., G&A Exp. (Total)	7.95M	10M	15.48M	18.61M	19.53M
Total Stock-Based Compensation	27.81M	36.97M	54.72M	68.26M	70.7M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	235M	925M	591M	240M	150M
Short Term Investments	70.03M	132M	33.74M	122M	41.95M
Trading Asset Securities, Total	496K	1.78M	-	2.34M	4.6M
Total Cash And Short Term Investments	305M	1.06B	625M	364M	196M
Accounts Receivable, Total	19.22M	54.72M	69.59M	54.88M	51.74M
Other Receivables	-	108K	86K	576K	332K
Total Receivables	19.22M	54.83M	69.68M	55.46M	52.07M
Inventory	74.59M	49.16M	358M	114M	-
Prepaid Expenses	14.82M	12.13M	22.95M	34.51M	33.3M
Loans Held For Sale	21.98M	42.54M	35.76M	200M	160M
Restricted Cash	12.77M	20.54M	127M	2.41M	1.24M
Other Current Assets, Total	3M	3.01M	7.44M	5.78M	2.54M
Total Current Assets	452M	1.24B	1.25B	776M	445M
Gross Property Plant And Equipment	121M	130M	173M	174M	167M
Accumulated Depreciation	-29.05M	-41.61M	-59.77M	-76.79M	-89.28M
Net Property Plant And Equipment	91.58M	88.14M	113M	97.14M	78.19M
Long-term Investments	30.98M	11.92M	54.83M	29.48M	3.15M
Goodwill	9.19M	9.19M	409M	461M	461M
Other Intangibles, Total	2.32M	1.83M	186M	199M	155M
Deferred Charges Long-Term	-	-	-	-	-
Other Long-Term Assets, Total	10.56M	8.62M	12.9M	11.25M	10.46M
Total Assets	596M	1.36B	2.02B	1.57B	1.15B
Liabilities
Accounts Payable, Total	2.12M	5.64M	12.55M	11.82M	10.51M
Accrued Expenses, Total	37.98M	65.77M	111M	104M	84.87M
Short-term Borrowings	25.75M	62.98M	233M	191M	152M
Current Portion of Long-Term Debt	-	22.48M	23.28M	23.43M	-
Current Portion of Leases	11.41M	11.97M	15.04M	19.14M	15.61M
Unearned Revenue Current, Total	-	3.69M	6.71M	5.66M	5.49M
Other Current Liabilities	7.93M	13.18M	-	-	-
Total Current Liabilities	85.18M	186M	402M	355M	268M
Long-Term Debt	120M	488M	1.21B	1.08B	813M
Long-Term Leases	59.87M	49.34M	55.22M	37.3M	29.08M
Deferred Tax Liability Non Current	-	-	1.2M	243K	264K
Other Non Current Liabilities	-	6.81M	-	-	-
Total Liabilities	265M	730M	1.67B	1.47B	1.11B
Preferred Stock Convertible	-	39.82M	39.87M	39.91M	39.96M
Total Preferred Equity	-	39.82M	39.87M	39.91M	39.96M
Common Stock, Total	93K	103K	106K	110K	117K
Additional Paid In Capital	583M	861M	682M	758M	826M
Retained Earnings	-252M	-270M	-372M	-693M	-823M
Comprehensive Income and Other	42K	211K	-174K	-801K	-182K
Total Common Equity	331M	591M	310M	63.95M	2.75M
Total Equity	331M	630M	350M	104M	42.71M
Total Liabilities And Equity	596M	1.36B	2.02B	1.57B	1.15B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	93.12M	103M	106M	110M	119M
ECS Total Common Shares Outstanding	93M	103M	106M	110M	117M
Book Value / Share	3.56	5.73	2.91	0.58	0.02
Tangible Book Value	320M	580M	-285M	-596M	-614M
Tangible Book Value Per Share	3.44	5.63	-2.69	-5.43	-5.23
Total Debt	217M	635M	1.54B	1.35B	1.01B
Net Debt	-88.46M	-424M	916M	984M	813M
Debt Equivalent Oper. Leases	92.94M	104M	124M	171M	160M
Account Code - Inventory Valuation	8	8	8	8	3
Inventories - Work In Process, Total	34.44M	24.78M	222M	16.64M	-
Inventories - Finished Goods, Total	36.98M	17.15M	119M	97.64M	-
Inventories - Others	3.16M	7.22M	16.38M	-	-
Machinery, Total	11.81M	15.22M	22.31M	27.95M	23.93M
Full Time Employees	3.38K	4.18K	6.48K	5.57K	4.69K
Accumulated Allowance for Doubtful Accounts (Supple)	165K	160K	1.3M	2.02M	3.23M

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	-80.8M	-18.53M	-110M	-321M	-130M
Depreciation & Amortization - CF	8.74M	14.08M	20M	26.74M	23.77M
Amortization of Goodwill and Intangible Assets - (CF)	488K	488K	26.9M	38.17M	38.99M
Depreciation & Amortization, Total	9.23M	14.56M	46.91M	64.91M	62.76M
Amortization of Deferred Charges, Total - (CF)	6.38M	12.04M	4.99M	6.14M	3.62M
(Gain) Loss on Sale of Investments - (CF)	-	2.06M	-	-	-
Asset Writedown & Restructuring Costs	-	-	-	1.14M	1.95M
Stock-Based Compensation (CF)	27.81M	36.97M	54.72M	68.26M	70.94M
Net Cash From Discontinued Operations	-	-	-	-	89K
Other Operating Activities, Total	6.28M	11.57M	8.22M	-23.54M	-78.66M
Change In Accounts Receivable	-3.86M	-35.5M	-7.15M	24.41M	3.29M
Change In Inventories	-51.9M	25.43M	-309M	244M	114M
Change In Accounts Payable	-394K	2.09M	3.06M	-2.47M	-1.32M
Change in Other Net Operating Assets	-20.36M	10.57M	6.36M	-21.15M	9.89M
Cash from Operations	-108M	61.27M	-302M	40.49M	56.76M
Capital Expenditure	-15.53M	-14.69M	-27.49M	-21.53M	-12.06M
Cash Acquisitions	-	-	-608M	-97.34M	-
Investment in Marketable and Equity Securities, Total	-100M	-42.43M	59.19M	-65.47M	110M
Cash from Investing	-116M	-57.12M	-576M	-184M	97.48M
Short Term Debt Issued, Total	393M	752M	1.57B	4.5B	3.53B
Long-Term Debt Issued, Total	-	647M	562M	-	125M
Total Debt Issued	393M	1.4B	2.13B	4.5B	3.66B
Short Term Debt Repaid, Total	-372M	-715M	-1.4B	-4.75B	-3.57B
Long-Term Debt Repaid, Total	-72K	-108M	-2.96M	-84.47M	-323M
Total Debt Repaid	-372M	-823M	-1.4B	-4.84B	-3.89B
Issuance of Common Stock	16.11M	90.77M	22.77M	11.53M	9.61M
Repurchase of Common Stock	-5.13M	-16.85M	-27.07M	-7.5M	-16.35M
Issuance of Preferred Stock	-	39.8M	-	-	-
Common Dividends Paid	-	-	-	-	-
Common & Preferred Stock Dividends Paid	-	-	-	-	-
Other Financing Activities, Total	-39K	4.07M	-73.78M	-733K	-2.34M
Cash from Financing	31.88M	694M	650M	-332M	-245M
Foreign Exchange Rate Adjustments	32K	-3K	-6K	-94K	-71K
Net Change in Cash	-192M	698M	-228M	-476M	-91.25M
Supplemental Items
Cash Interest Paid	2.46M	4.96M	7.59M	20.11M	15.59M
Levered Free Cash Flow	-104M	45.71M	-387M	107M	137M
Unlevered Free Cash Flow	-104M	45.86M	-385M	112M	140M
Change In Net Working Capital	76.46M	-4.44M	395M	-200M	-150M
Net Debt Issued / Repaid	20.94M	576M	728M	-335M	-236M

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	-8.7	0.47	-3.77	-11.14	-9.63
Return on Total Capital	-9.54	0.5	-4.04	-11.98	-10.49
Return On Equity %	-22.98	-3.85	-22.37	-141.6	-172.46
Return on Common Equity	-22.98	-4.98	-25.96	-172.66	-382.2
Margin Analysis
Gross Profit Margin %	18.48	26.19	21	12.52	33.77
SG&A Margin	19.7	15.86	18.16	17.96	36.52
EBITDA Margin %	-8.98	2.47	-2.87	-11.18	-15.09
EBITA Margin %	-10.1	0.88	-3.91	-12.36	-17.52
EBIT Margin %	-10.16	0.82	-5.31	-14.03	-21.51
Income From Continuing Operations Margin %	-10.36	-2.09	-5.7	-14.06	-12.94
Net Income Margin %	-10.36	-2.09	-5.7	-14.06	-13.31
Net Avail. For Common Margin %	-10.36	-2.59	-6.08	-14.13	-13.05
Normalized Net Income Margin	-6.48	-0.71	-3.5	-9.17	-13.41
Levered Free Cash Flow Margin	-13.29	5.16	-20.12	4.67	14.07
Unlevered Free Cash Flow Margin	-13.4	5.18	-20	4.88	14.31
Asset Turnover
Asset Turnover	1.37	0.91	1.14	1.27	0.72
Fixed Assets Turnover	13.36	9.86	19.13	21.76	11.22
Receivables Turnover (Average Receivables)	45.09	23.97	30.93	36.71	19.91
Inventory Turnover (Average Inventory)	13.07	10.57	7.46	8.46	-
Short Term Liquidity
Current Ratio	5.3	6.68	3.1	2.19	1.66
Quick Ratio <