April 20, 2018 3:15 PM ET

Real Estate Management and Development

Company Overview of Redfin Corporation

Company Overview

Redfin Corporation operates as a real estate brokerage company in the United States. The company operates an online real estate marketplace and provides real estate services, such as assisting individuals to purchase or sell their residential property. It also provides title and settlement services; originates and sells mortgages; and buys and sells residential properties. The company was formerly known as Appliance Computing Inc. and changed its name to Redfin Corporation in May 2006. Redfin Corporation was incorporated in 2002 and is headquartered in Seattle, Washington.

1099 Stewart Street

Suite 600

Seattle, WA 98101

United States

Founded in 2002

2,422 Employees

Phone:

206-576-8333

Key Executives for Redfin Corporation

President, CEO & Director
Age: 45
Total Annual Compensation: $250.9K
President of Real Estate Operations
Age: 52
Total Annual Compensation: $250.7K
Chief Technology Officer
Age: 39
Total Annual Compensation: $250.7K
Compensation as of Fiscal Year 2016.

Redfin Corporation Key Developments

Redfin Corporation Appoints David H. Lissy as Class I Director

On February 28, 2018, the Board of Directors of Redfin Corporation appointed David H. Lissy as a Class I Director, effective as of the same date. Mr. Lissy has served as the Executive Chairman of Bright Horizons Family Solutions Inc., since January 2018. He has served as a director of Bright Horizons since 2001. Previously, Mr. Lissy served as Chief Executive Officer of Bright Horizons from January 2002 to January 2018, and served as Chief Development Officer of Bright Horizons and as Executive Vice President prior to that. Mr. Lissy currently serves on the boards of Bright Horizons, Jumpstart and Ithaca College.

Redfin Corporation Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2017; Provides Earnings Guidance for the First Quarter of 2018

Redfin Corporation announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2017. For the quarter, the company reported revenue of $95,754,000 against $66,782,000 a year ago. Loss from operations was $2,369,000 against $5,423,000 a year ago. Net loss was $1,798,000 against $5,335,000 a year ago. Net loss attributable to common stock was $1,798,000 or $0.02 basic and diluted per share against $117,656,000 or $8.08 basic and diluted per share a year ago. The prior year loss was primarily driven by the fair market value feature of their redeemable convertible preferred stock which converted to common stock in connection with their IPO. Net loss attributable to common stock, adjusted was $1,798,000 or $0.02 basic and diluted per share against $5,335,000 or $0.08 basic and diluted per share a year ago. For the year, the company reported revenue of $370,036,000 against $267,196,000 a year ago. Loss from operations was $15,972,000 against $22,784,000 a year ago. Net loss was $15,002,000 against $22,526,000 a year ago. Net loss attributable to common stock was $190,917,000 or $4.47 basic and diluted per share against $78,028,000 or $5.42 basic and diluted per share a year ago. Net cash provided by operating activities of $5,355,000 against net cash used in operating activities was $9,352,000 a year ago. Purchases of property and equipment were $12,113,000 against $13,567,000 a year ago. Net loss attributable to common stock, adjusted was $15,002,000 or $0.20 basic and diluted per share against $22,526,000 or $0.32 basic and diluted per share a year ago. The company provided earnings guidance for the first quarter of 2018. For the quarter, the company expects revenue between $74.6 million and $78.4 million, representing year-over-year growth between 25% and 31% compared to the first quarter of 2017. Redfin Now revenue between $2.3 million and $3.1 million is included in the guidance provided. Net loss between $38.7 million and $35.9 million, compared to net loss of $28.1 million in the first quarter of 2017, this guidance includes approximately $4.5 million of expected stock-based compensation and $1.8 million of expected depreciation and amortization.

Redfin Corporation to Report Q4, 2017 Results on Feb 22, 2018

Redfin Corporation announced that they will report Q4, 2017 results After-Market on Feb 22, 2018

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