Redfin Corp
redfin.comNo Longer Reporting
The company has not filed an annual or quarterly report since its Q1 FY2025 10-Q, filed May 6, 2025. Its latest SEC filing is a SCHEDULE 13G/A from Nov 10, 2025.
10-Q for Q1 FY2025, filed May 6, 2025
The sections below describe the company as of the FY2024 annual report.
What Did They Do?
Provides residential brokerage services to home buyers and sellers, alongside mortgage and rental-listing services for consumers.
10-K for FY2024, filed Feb 27, 2025
How Did They Make Money?
Home buyers and sellers generate commissions and referral fees when transactions close, while rental listing and marketing customers pay subscriptions over their contract terms. Mortgage revenue comes from making, selling, and servicing loans and interest on loans held for sale; title fees come when title services are provided.
10-K for FY2024, filed Feb 27, 2025Brokerage Revenue—Brokerage revenue includes our offer and listing services, where our lead agents represent homebuyers and home sellers.…View ↗
Partner Revenue—Partner revenue consists of fees paid to us from partner agents or under other referral agreements, less the amount of any…View ↗
Rentals Revenue—Rentals revenue is primarily composed of subscription-based product offerings for internet listing services, as well as…View ↗
Rentals revenue is recorded as a component of service revenue in our consolidated statements of comprehensive loss. Revenue is recognized…View ↗
Mortgage Revenue—Mortgage revenue includes fees from the origination and subsequent sale of loans, loan servicing income, interest income…View ↗
Title Revenue—Title revenue includes fees earned from title settlement services. Substantially all fees and revenue from title services are…View ↗
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10-K for FY2024, filed Feb 27, 2025
FY2024 revenue by reportable segment ↗
$1B
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10-K for FY2024, filed Feb 28, 2025
$1B ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Real estate services
Sold outright
10-K for FY2024, filed Feb 27, 2025 |
62%
FY2021: 85%
|
Real estate services, FY2024
$642.9M Sources
|
Sold outright |
|
Rentals
Recurring
10-K for FY2024, filed Feb 27, 2025 |
20%
FY2021: 12%
|
Rentals, FY2024
$203.7M Sources
|
Recurring |
|
Mortgage
|
13%
FY2021: 1.9%
|
Mortgage, FY2024
$139.8M Sources
|
Who Were Their Customers?
Home buyers and sellers work with Redfin’s agents or are referred to partner agents, who represent them through closing. Rental customers use digital platforms, while property managers buy listing, lead-management, and marketing products directly.
10-K for FY2024, filed Feb 27, 2025We help people buy and sell homes. Representing customers in approximately 100 markets in the United States and Canada, we are a…View ↗
To serve customers when our own agents can’t due to high demand or geographic limitations, we’ve developed partnerships with over 5,148…View ↗
Rent. offers an end-to-end digital marketing platform that connects consumers with available apartments and houses for rent across all 50…View ↗
Rent. competes with companies that provide an online marketplace for residential rental listings and related digital marketing solutions.…View ↗
Rentals Revenue—Rentals revenue is primarily composed of subscription-based product offerings for internet listing services, as well as…View ↗
How Were They Changing?
- Net income
-
Sources
10-Q for Q1 FY2025, filed May 7, 2025
−$92.5MView ↗
- ▲ +39% (Loss)
- vs −$66.8M in Q1 FY2024
10-Q for Q1 FY2025, filed May 6, 2025
Open tableView ↗
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Jul 1, 2025
Redfin's merger with Rocket was completed
Sources
8-K, filed Jul 1, 2025
Convertible NotesView ↗
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Mar 10, 2025
Rocket agreed to acquire Redfin
Redfin was to become Rocket's wholly owned subsidiary, subject to closing conditions.
Sources
8-K, filed Mar 10, 2025
On March 9, 2025, Redfin Corporation (“Redfin” or the “Company”) entered into an Agreement and Plan of Merger (the “Merger Agreement”) by…View ↗
Grew. Revenue grew 18% in 4 years, from $886.1M in FY2020 to $1B in FY2024, about 4% a year.
Home resale business ended
The older report describes buying homes directly from homeowners and reselling them; the latest says RedfinNow was wound down and its inventory liquidation was completed.
10-K for FY2021, filed Feb 17, 2022 10-K for FY2024, filed Feb 27, 2025RedfinNow bought homes directly from homeowners and resold them to homebuyers. In November 2022, we decided to wind-down RedfinNow, and we…View ↗
Mortgage servicing was added
The older report said Redfin Mortgage did not intend to retain or service loans; the latest says Bay Equity retains mortgage servicing rights and services a portfolio of loans.
10-K for FY2021, filed Feb 17, 2022 10-K for FY2024, filed Feb 27, 2025Redfin Mortgage underwrites mortgage loans and, after originating each loan, Redfin Mortgage sells the loans to third-party mortgage…View ↗
Bay Equity underwrites mortgage loans and, after originating each loan, Bay Equity sells most of the loans to third-party mortgage…View ↗
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