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Income Statement (USD)
| Q3 '24 | QoQ | |
|---|---|---|
| Revenue | 1.53B | 7.9% |
| Gross Profit | -54M | 108.8% |
| Cost of Revenue | 1.11B | 3.3% |
| Operating expense | 450M | 4.6% |
| Net Income | -22M | 1799.7% |
| EBITDA | -476M | 375.7% |
Balance Sheet (USD)
| Q3 '24 | QoQ | |
|---|---|---|
| Total Assets | 25.1B | 6.2% |
| Total Liabilities | 16.8B | 13% |
| Total Equity | 8.35B | 5.2% |
| Shares Outstanding | 142M | 1.5% |
Cash Flow (USD)
| Q3 '24 | QoQ | |
|---|---|---|
| Cash from operations | -1.34B | 993.2% |
| Cash from investing | -234M | 10.6% |
| Cash from financing | 1.48B | 79.2% |
EPS
Financial Highlights for Rocket Companies in Q3 '24
Rocket Companies reported a revenue of 1.53B, which is a 7.9% 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 -54M, marking a -108.8% change since the last quarter. Gross profit showcases the efficiency in production and sales processes.
Cost of Revenue was 1.11B, a 3.3% 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 450M, showing a -4.6% 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 -22M, showing a -1799.7% 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 -476M, showing a -375.7% 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.
Rocket Companies faced some challenges this quarter with a decline in one or more of the key metrics: revenue, gross profit, or net income. A decline in EBITDA signals potential operational challenges or increased costs.
