MARKET COMPOSITE
RDFN - Redfin Corp8:00:00 PM 4/23/2024
Price
$5.37
+ 0.13 (2.48%)
Redfin is a real estate brokerage. The Seattle-based company was founded in 2004, and went public in Aug. 2017. Glenn Kelman is the CEO. Redfin's business model is based on sellers paying Redfin a small fee, either 1 or 1.5% to list the seller's home. This does not include an additional fee charged to the seller to compensate the brokerage representing the buyer. This latter fee usually is in the 2.5-3.0% range. Customers who buy with Redfin are only charged 1% to list their home . Buyers who buy with Redfin also get a portion of the brokerages commission back that can be applied to their closing costs or in the form of a check after they close on their home. Redfin was founded in 2004 by David Eraker, Michael Dougherty, and David Selinger. David Eraker, who had dropped out of the University of Washington's medical school for a career in software design, was inspired by his own real estate misadventures and founded Redfin with hopes of upending the traditional brokerage model. Unlike the other major real estate web portals , which get the majority of their earnings from advertising and lead generation, Redfin operates as a brokerage and makes money when users buy or sell homes with its real estate agents.
Financials
Quarterly financials
(USD)Dec 2023Q/Q
Revenue106.5MM-60%
Gross Profit75.1MM-24%
Cost Of Revenue31.4MM-82%
Operating Income-40.8MM+60%
Operating Expenses115.8MM-6%
Net Income-22.9MM+21%
R&D43.6MM-2%
G&A51.7MM-7%
Marketing19.8MM-18%
Amortization9.7MM-
Interest Expense4.2MM-
Stock Chart

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Stock news

    SEATTLE, April 23, 2024--Redfin Corporation (NASDAQ: RDFN) will release first-quarter 2024 results after the stock market closes on Tuesday, May 7, 2024. The company will host a live webcast of its conference call to discuss the results at 1:30 p.m. Pacific Time / 4:30 p.m. Eastern Time. Participants may access the live webcast on Redfin's Investor Relations website at http://investors.redfin.com.

    SEATTLE, April 23, 2024--(NASDAQ: RDFN) — Nearly two of every five (38%) homeowners don’t believe they could afford to buy their own home if they were purchasing it today, according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage.

    SEATTLE, April 23, 2024--(NASDAQ: RDFN) — U.S. home prices climbed 0.6% from a month earlier on a seasonally-adjusted basis in March, matching February’s 0.6% month-over-month gain, according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage.

    Real estate brokers could really use the lift that lower interest rates will provide. However, it doesn't seem like they'll get that anytime soon.

    SEATTLE, April 19, 2024--(NASDAQ: RDFN) — The median-priced U.S. luxury home sold for a record $1,225,000 in the first quarter, up 8.7% from a year earlier, according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. Prices of non-luxury homes rose at roughly half the pace; they were up 4.6% to a median of $345,000, also a record high.

    SEATTLE, April 18, 2024--(NASDAQ: RDFN) —The median U.S. home-sale price increased 5% from a year earlier during the four weeks ending April 14, bringing it to $380,250—just $3,095 shy of June 2022’s all-time high. That’s according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage.

    SEATTLE, April 18, 2024--(NASDAQ: RDFN) —Nearly half (46.8%) of U.S. homeowners and renters who plan to vote for Joe Biden in the upcoming presidential election want to live in a place where recreational weed is legal, compared to 12.4% of U.S residents who plan to vote for Donald Trump. That’s according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage.

    SEATTLE, April 17, 2024--(NASDAQ: RDFN) —Nearly three-quarters (70.3%) of Florida homeowners and over half (51%) of California homeowners say they or the area they live in has been affected by rising home insurance costs or changes in coverage (e.g., their insurer dropped them) in the past year. That compares with less than half (44.6%) of homeowners nationwide, according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage.

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