Redfin Corporation Income Statement 2024-2011 | RDFN

Brief overview of revenue and earnings at Redfin Corporation

The conclusions below are based on five years of reported results. Revenue at Redfin Corporation moved from $780 million in 2019 to $1 billion in 2024. Across the full period, sales moved by +33.8%; the average annual rate was 6%. Revenue advanced gradually over the five-year period.

The gross result shifted from $144 million to $364 million, or +152.7%. Direct costs grew more slowly than revenue and improved the economics of sales. Comparing the endpoints gives gross margins of 18.5% and 34.9%. The business retained more gross profit from each unit of revenue.

The operating result measured by EBITDA moved from −70 million dollars to −112 million dollars, or −60.7%. EBITDA lagged revenue, showing weaker operating momentum. Comparing the endpoints gives EBITDA margins of −9% and −10.8%. EBITDA as a share of revenue remained steady.

The net financial result changed from −$80.8 million to −$165 million. The loss widened and increased the financial risk.

The market value of the business moved from 2.2 billion dollars to 941 million dollars, or −57.8%. The market has not yet confirmed the improvement in fundamentals.

Financial takeaway

The current trajectory does not yet confirm a sustainable recovery. The financial profile benefits from revenue expansion and better sales economics. The main areas of concern are a weaker final result, a narrow EBITDA buffer and weaker operating efficiency. The next reporting periods will show whether revenue, margins, and final profitability can strengthen.