Redfin Q1 revenue $225.5M (+5% YoY); net loss $66.8M; adj EBITDA loss narrows to $27.6M

Redfin Corp

2024-Q1 EPS reported -$0.57 revenue$225,479,000

Revenue $225.5M (+5% YoY), gross profit $70.8M (+22%); real estate services gross margin 15% vs 12%.
Net loss $66.8M ($0.57 diluted EPS) vs $60.8M ($0.55) in Q1 2023; net loss widened.
Adjusted EBITDA loss improved to $27.6M from $63.6M, reduction of ~57% vs prior year.
Market share 0.77% (up from 0.72% Q4 2023); monthly average users 49M vs 50M prior year.
Record mortgage cross-sell attach rate 28% (up 3 pts); loyalty sales 34% of transactions.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Redfin Corp reported first quarter ended March 31, 2024 results: revenue $225.5 million, net income Net loss was $66.8 million, EPS $0.57.

Period: first quarter ended March 31, 2024
Revenue: $225.5 million
Net income: Net loss was $66.8 million
EPS: $0.57
Result: reported results

Exact text from the filing

First quarter revenue was $225.5 million, an increase of 5% compared to the first quarter of 2023.

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Source: SEC EDGAR

accession 0001382821-24-000064

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