Redfin Corporation reported Q2 2024 revenue of $295.2 million, up 7% YoY, with gross profit increasing 9% to $109.6 million. The company's net loss was $27.9 million, slightly higher than the $27.4 million loss in Q2 2023. Real estate services gross profit declined 4% YoY to $53.7 million, with margins dropping from 31% to 29%.The company achieved a market share of 0.77% of U.S. existing home sales by units, up from 0.75% in Q2 2023. Monthly average visitors reached nearly 52 million, while mortgage attach rate improved to 28%, up 4 points YoY. Loyalty sales increased to 37% of total sales, up from 34% in Q1 2024.For Q3 2024, Redfin expects total revenue between $273-285 million, representing 1-6% YoY growth. The company forecasts a net loss between $22-30 million and adjusted EBITDA between $4-12 million. Management plans to expand the Redfin Next agent pay plan to 25 additional markets, covering approximately 74% of brokerage revenues.

Redfin Corporation reported Q2 2024 revenue of $295.2 million, up 7% YoY, with gross profit increasing 9% to $109.6 million. The company's net loss was $27.9 million, slightly higher than the $27.4 million loss in Q2 2023. Real estate services gross profit declined 4% YoY to $53.7 million, with margins dropping from 31% to 29%.The company achieved a market share of 0.77% of U.S. existing home sales by units, up from 0.75% in Q2 2023. Monthly average visitors reached nearly 52 million, while mortgage attach rate improved to 28%, up 4 points YoY. Loyalty sales increased to 37% of total sales, up from 34% in Q1 2024.For Q3 2024, Redfin expects total revenue between $273-285 million, representing 1-6% YoY growth. The company forecasts a net loss between $22-30 million and adjusted EBITDA between $4-12 million. Management plans to expand the Redfin Next agent pay plan to 25 additional markets, covering approximately 74% of brokerage revenues.