Redfin reported Q2 2024 revenue of $295.2 million, up 7% year-over-year, with net loss from continuing operations narrowing to $27.9 million from $27.2 million in Q2 2023. Real estate services revenue increased 4% to $187.6 million, while rentals revenue grew 12% to $50.9 million. Brokerage transactions rose 3% and brokerage revenue per transaction increased 1%.Total gross margin improved 70 basis points to 37.1%, driven by gains in rentals, mortgage and other segments. Operating expenses decreased 6% to $138.5 million, with reductions across technology, general and administrative, and restructuring costs. Marketing expenses increased 22% to $40.3 million as advertising spend ramped up.Redfin repurchased $71.2 million of its 2025 convertible notes at a discount, recording a $6.3 million gain. The company's cash position remains strong, with $75 million maintained as required by its term loan facility. Management continues to focus on improving profitability amid challenging macroeconomic conditions in the residential real estate market.

Redfin reported Q2 2024 revenue of $295.2 million, up 7% year-over-year, with net loss from continuing operations narrowing to $27.9 million from $27.2 million in Q2 2023. Real estate services revenue increased 4% to $187.6 million, while rentals revenue grew 12% to $50.9 million. Brokerage transactions rose 3% and brokerage revenue per transaction increased 1%.Total gross margin improved 70 basis points to 37.1%, driven by gains in rentals, mortgage and other segments. Operating expenses decreased 6% to $138.5 million, with reductions across technology, general and administrative, and restructuring costs. Marketing expenses increased 22% to $40.3 million as advertising spend ramped up.Redfin repurchased $71.2 million of its 2025 convertible notes at a discount, recording a $6.3 million gain. The company's cash position remains strong, with $75 million maintained as required by its term loan facility. Management continues to focus on improving profitability amid challenging macroeconomic conditions in the residential real estate market.