Important Legal Information In light of these risks, uncertainties, and assumptions, the future events and trends discussed in this presentation may not occur and actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements. Accordingly, you should not rely on forward-looking statements as predictions of future events. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that the ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) (Exact name of registrant as specified in its charter) Delaware 74-3064240 (State or other jurisdiction of incorporation or organization) 1099 Stewart Street Suite 600 Seattle WA 98101 (Address of Principal Executive Offices) (Zip Code) (206) 576-8333 ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 or ☐ TRANSITION REPORT PURSUANT ...

Redfin Corporation. (NASDAQ:RDFN) Q1 2023 Earnings Conference Call May 4, 2023 4:30 PM ET Company Participants Meg Nunnally - Head of IR Glenn Kelman - President, CEO and Director Chris Nielsen - CFO Conference Call Participants John Campbell - Stephens Ygal Arounian - Citigroup Curtis Nagle - Bank of America Ryan McKeveny - Zelman & Associates Operator Greetings, and welcome to the Redfin Corporation Q1 2023 Earnings Conference Call. At this time, all participants are in a listen-only mode. A brief questio ...

(Mark One) UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___ to ___ Commission file number 001-38160 Redfin Corporation (Exact name of registrant as specified in its charter) Delaware 74-3064240 (State or other juri ...

5 1. Source: National Association of Realtors 2022 existing-home-sales data, assuming 5% commission. 2. The largest group of millennials will be in their early-to-mid 30s over the next several years, which intersects with the median age of first-time home buyers. 3. Source: Google Analytics, web and mobile application visitors. | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |-----------------------------------------|----------------------|----------|-------|----- ...

Redfin Corporation (NASDAQ:RDFN) Q4 2022 Results Conference Call February 16, 2023 4:30 PM ET Company Participants Meg Nunnally - Head of IR Glenn Kelman - President, CEO and Director Chris Nielsen - CFO Conference Call Participants Ryan McKeveny - Zelman & Associates Tom White - D.A. Davidson Ygal Arounian - Citigroup John Campbell - Stephens Michael Ng - Goldman Sachs Jay McCanless - Wedbush Chris Suchecki - Jefferies Operator Greetings, and welcome to the Redfin Corporation Fourth Quarter 2022 Earnings C ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 Securities registered pursuant to Section 12(b) of the Act: | Title of each class | Trading Symbol | Name of each exchange on which registered | | --- | --- | --- | | Common Stock, $0.001 par value per share | RDFN | The Nasdaq Stock Market, LLC | Securities registered pursuant to Sectio ...

Redfin Corporation (NASDAQ:RDFN) Q3 2022 Earnings Conference Call November 9, 2022 4:30 PM ET Company Participants Meg Nunnally - Investor Relations Glenn Kelman - Chief Executive Officer Chris Nielsen - Chief Financial Officer Conference Call Participants Tom White - D.A. Davidson Jason Helfstein - Oppenheimer Naved Khan - Truist Securities Mike Ng - Goldman Sachs John Campbell - Stephens Inc Mark Mahaney - Evercore Jay McCanless - Wedbush Chris Laskowski - Jefferies Curtis Nagle - Bank of America Operator ...

Financial Data and Key Metrics Changes - Revenue for Q2 2022 was $607 million, a 29% increase year-over-year but below the guidance range of $613 million to $650 million due to a decline in lending revenues [8][49] - Net income was in line with expectations after excluding $10 million in restructuring costs, with an adjusted EBITDA loss of $29 million [9][63] - Total gross profit was $118 million, down 6% year-over-year, with a gross margin of 19.4% [53] Business Line Data and Key Metrics Changes - Real estate services revenue was $252 million, flat year-over-year, while brokerage revenue increased by 1% driven by home price appreciation [50] - The properties segment generated $263 million in revenue, up 52% year-over-year, driven by a 45% increase in homes sold [51] - Rentals business revenue was $38 million, down 10% year-over-year, but marked the first quarter of sequential revenue growth in many years [52] Market Data and Key Metrics Changes - The percentage of homes with price drops in June 2022 doubled to 18% compared to 9% in June 2021, indicating a significant market shift [43] - Pending home sales dropped 20% year-over-year from June 2021 to June 2022, with a 9% drop from May to June 2022 [42] - Total rental site visits, including traffic on redfin.com, were up 9% year-over-year, with second-quarter bookings up 24% year-over-year [21] Company Strategy and Development Direction - The company aims to maximize gross profit per customer and is shifting towards a partner business model in smaller markets to enhance profitability [75] - Redfin plans to eliminate the commission refund in 22 markets, which could improve gross margins by over 500 basis points [15] - The focus is on becoming one of North America's top two real estate search sites to drive brokerage share and profitability [25][38] Management's Comments on Operating Environment and Future Outlook - Management noted that the housing market worsened significantly in June but showed signs of improvement in July, with mortgage rates dropping [41][46] - The company expects to reach net income positive by 2024, with adjusted EBITDA improvements anticipated in 2023 [40][78] - Management is cautious about the current macroeconomic conditions but believes in the long-term demand for housing [46] Other Important Information - The company laid off 6% of its employees in June 2022, which is expected to improve long-term growth despite short-term setbacks [9][27] - The properties segment is expected to sell homes at a loss due to declining home-buying demand, but the overall forecast remains positive for the year [34][36] Q&A Session Summary Question: Impact of removing buyer refund on real estate gross margins - Management indicated that removing the buyer refund could positively impact gross margins, especially in smaller markets [73][75] Question: Managing cash flow and convertible debt - Management emphasized that increasing profitability in 2023 and 2024 will improve the capital position as debt maturities approach [77][78] Question: Expectations for iBuying gross margins - Management expects negative gross margins in Q3 but anticipates maintaining positive gross margins for the full year [82][84] Question: Changes in marketing spend and efficiencies - Management noted a seasonal pullback in marketing spend but is shifting focus towards effective campaigns [86][90] Question: Long-term gross margins and agent compensation changes - Management confirmed that brokerage remains a profit engine and no major changes to agent compensation are planned [94][97]

| --- | --- | --- | --- | --- | --- | |-------------------------------------------|-------|-------|-------|-------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | A Technology-Powered Real Estate Company | | | | | | | Q2 2022 Earnings Slides | | | | | | | | | | | | | Important Legal Information This presentation contains forward-looking statements. All statements contained in this presentation other than statements of historical fact, including statements regarding our future operating re ...