)

Redfin (RDFN) investor relations material
Redfin Q1 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Revenue for Q1 2025 was $221.0 million, down 2% year-over-year, with a net loss of $92.5 million compared to a $66.8 million net loss in Q1 2024.
Entered into a merger agreement with Rocket Companies, announced March 10, 2025, expected to close in Q2 or Q3 2025, subject to regulatory and shareholder approval.
Formed a five-year partnership with Zillow, including a $100 million upfront payment and a minimum $75 million lead generation guarantee for the first year.
Restructured rentals segment, incurring $18.9 million in Q1 2025 restructuring costs, with further costs expected in Q2 2025.
Adjusted EBITDA loss was $32.0 million, up from $27.6 million in Q1 2024.
Financial highlights
Gross profit was $70.6 million, nearly flat year-over-year; gross margin improved 60 basis points to 32.0%.
Operating expenses rose 11% to $156.1 million, driven by restructuring and higher marketing spend, partially offset by lower technology and G&A costs.
Cash and cash equivalents were $183.5 million as of March 31, 2025, up from $124.7 million at year-end 2024.
No repurchases of convertible senior notes in Q1 2025; $576.9 million in notes outstanding.
Net cash provided by operating activities was $37.9 million in Q1 2025, compared to net use of $46.0 million in Q1 2024.
Outlook and guidance
Management expects the Rocket merger to close in Q2 or Q3 2025, but notes risks if closing conditions are not met.
Rentals revenue will transition to being primarily Zillow-sourced by end of July 2025.
Liquidity is expected to be sufficient for at least the next 12 months, but future capital needs may require additional financing.
No financial guidance for Q2 2025 due to the pending Rocket acquisition.
The essential earnings season companion
The #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Live calls and transcripts
Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.
Find what you need faster
Search for any keyword across all transcripts simultaneously.
Easily store key findings
Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Your watchlist. Your dashboard.
Follow the companies that matter to you. Get a personalized feed with real-time updates.
Be the first to know
Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.
Consensus estimates
Access analyst consensus estimates, valuation multiples, and revenue segments splits.
All IR material in one place
The easiest way to stay updated during earnings season.
Global coverage
All events from public companies. Live and recorded.
Just click and listen
No webcast links. No manual registrations.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
)
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
)
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
)
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
)
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
)
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
)
I can't remember the last time an app had such a positive impact on my investment process.
)
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
)
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
)
I can't remember the last time an app had such a positive impact on my investment process.
)
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
)
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
)
)
)
)
Frequently asked questions
Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.
Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.
Explore our global coverage