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Income Statement (USD)
Q2 '24 | QoQ | |
---|---|---|
Revenue | 295M | 30.2% |
Gross Profit | 110M | 54.8% |
Cost of Revenue | 186M | 28.1% |
Operating expense | 139M | 1.1% |
Net Income | -28M | 58.2% |
EBITDA | -17M | 68.4% |
Balance Sheet (USD)
Q2 '24 | QoQ | |
---|---|---|
Total Assets | 1.18B | 10.3% |
Total Liabilities | 1.19B | 10.9% |
Shares Outstanding | 122M | 1.9% |
Cash Flow (USD)
Q2 '24 | QoQ | |
---|---|---|
Cash from operations | -7.9M | 82.7% |
Cash from investing | -3.2M | 107.7% |
Cash from financing | 105M | 372.4% |
EPS
Financial Highlights for Redfin in Q2 '24
Redfin reported a revenue of 295M, which is a 30.2% change from the previous quarter. An increase in revenue typically indicates growing demand for the company's products or services. This positive change in revenue is a good sign, suggesting that the company's sales are moving in the right direction.
Gross Profit stood at 110M, marking a 54.8% change since the last quarter. Gross profit showcases the efficiency in production and sales processes.
Cost of Revenue was 186M, a -28.1% difference from the previous quarter. A rising cost of revenue may suggest increased production or sales costs, which can impact margins. However, if accompanied by a proportionate rise in revenue, it could indicate scaling operations.
Operating Expenses for this period were 139M, showing a -1.1% change from the last quarter. Operating expenses cover the costs of running daily business operations. A significant increase might indicate inefficiencies or investments in growth, while a decrease could suggest cost-saving measures or potential underinvestment in key areas.
Net Income for the quarter was -28M, showing a 58.2% change from the prior quarter. Net income provides a clear picture of the company's profitability after all expenses. An increase suggests the company is becoming more profitable, while a decrease may raise concerns about the company's financial health, unless there are specific one-time costs or investments.
The company's EBITDA for the quarter was -17M, showing a 68.4% change from the previous period. EBITDA gives insight into the company's operational profitability, excluding non-operating expenses like interest and taxes. A rising EBITDA indicates strong operational performance, while a declining EBITDA may signal operational challenges or increased costs.
It was a positive quarter for Redfin with growth in revenue, gross profit, and net income.