secwatch.observer — SEC 8-K summary
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Issuer:     Redfin Corp (—)
CIK:        0001382821
Form:       8-K
Filed at:   2024-05-07T23:59:59+00:00
Accession:  0001382821-24-000064
Event type: earnings
Sentiment:  positive
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1382821/000138282124000064/0001382821-24-000064-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1382821/000138282124000064/rdfn-20240507.htm
  HTML page:      https://secwatch.observer/filing/0001382821-24-000064

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer