Redfin corporation (RDFN)
CashFlow / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17
Operating Activities
Net Income (Loss) Attributable to Parent

-60,117

-7,782

6,781

-12,624

-67,180

-12,222

3,476

3,207

-36,439

-1,799

10,559

4,304

-28,066

Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization

3,307

2,864

2,557

2,172

1,637

2,342

2,221

1,899

2,003

1,850

1,787

1,634

1,905

Stock-based compensation

7,211

8,022

7,510

5,876

6,406

5,966

5,498

4,778

4,196

3,073

2,708

2,639

2,681

Amortization of debt discount and issuance costs

1,730

1,711

1,643

1,524

1,507

1,456

1,128

0

0

-

-

-

-

Non-cash lease expense

2,254

2,213

1,784

1,727

1,216

-

-

-

-

-

-

-

-

Impairment costs

1,420

-

-

-

0

-

-

-

-

-

-

-

-

Other

-989

-262

-301

-100

0

-

-

-

-

-

-

-

-

Change in assets and liabilities:
Prepaid expenses

-

-

-

-

-

-

-

-

-

-

1,926

-756

-1,086

Accounts receivable, net

2,598

-5,210

-14,252

22,433

890

2,109

-5,648

6,809

-1,241

-3

-1,173

2,235

1,650

Inventory

-3,941

-30,870

19,806

47,348

15,612

-2,467

10,642

7,851

3,286

-

-

-

-

Prepaid expenses and other assets

-3,409

3,457

1,312

211

-1,441

7,533

1,874

-308

-3,374

-

-

-

-

Other current assets

-

-

-

-

-

-

-

-

-

-

-492

-9,646

1,582

Other assets

-

-

-

-

-

-

-

-

-

-

133

7

-384

Accounts payable

514

-973

-771

-13,498

14,848

-85

-1,232

905

1,029

-1,480

327

3,813

-2,912

Accrued liabilities and other payables

20,626

-11,535

-7,500

4,730

21,764

-6,848

3,876

233

7,248

-3,398

32

2,642

5,839

Lease liabilities

-2,693

-2,002

-1,906

-1,842

-1,459

-

-

-

-

-

-

-

-

Deferred rent

-

-

-

-

-

-336

-330

-315

-268

-252

-96

596

501

Origination of loans held for sale

132,697

110,456

131,847

103,485

49,850

29,866

26,908

19,772

9,477

5,253

2,733

3,022

0

Proceeds from sale of loans originated as held for sale

111,233

110,716

139,770

89,065

39,015

30,874

24,572

17,668

9,887

4,087

2,553

2,477

0

Net cash used in operating activities

-43,449

25,028

10,971

-96,452

-47,157

-15,894

5,433

-5,749

-20,492

-5,418

10,926

21,661

-21,814

Investing activities
Purchases of short-term investments

-

-

-

-

-

-

-

-

-

-

1

-260

1,252

Purchases of property and equipment

3,406

2,712

3,317

6,353

3,151

2,775

1,483

1,740

2,305

1,614

1,064

4,654

4,781

Purchases of investments

33,267

30,202

35,751

70,312

0

-

-

-

-

-

-

-

-

Sales of investments

31,608

10,481

905

100

0

-

-

-

-

-

-

-

-

Maturities of investments

1,597

-

-

-

0

-

-

-

-

-1,484

245

-12

1,251

Net cash used in investing activities

-3,468

-2,933

-33,263

-76,565

-3,151

-4,775

-1,483

-1,740

-2,305

-356

-820

-4,406

-4,782

Financing activities
Proceeds from the issuance of shares resulting from employee equity plans

4,103

5,238

1,904

5,233

3,732

6,093

2,920

8,448

5,946

-

-

-

551

Tax payments related to net share settlements on restricted stock units

3,307

2,270

1,064

974

818

721

478

168

59

0

0

0

0

Borrowings from warehouse credit facilities

131,310

-

-

-

48,557

-

-

-

-

-

-

-

-

Repayments to warehouse credit facilities

110,025

-

-

-

38,097

-

-

-

-

-

-

-

-

Borrowings from secured revolving credit facility

11,854

-

-

-

0

-

-

-

-

-

-

-

-

Repayments to secured revolving credit facility

7,398

-

-

-

0

-

-

-

-

-

-

-

-

Borrowings from warehouse credit facilities

-

-

-

-

-

29,036

26,255

19,286

9,265

5,143

2,671

2,932

0

Repayments of warehouse credit facilities

-

-

-

-

-

30,094

23,955

17,152

9,924

3,832

2,495

2,403

0

Other payables—deposits held in escrow

3,684

246

-10,965

7,634

3,968

-5,526

-5,947

6,823

6,808

-5,792

-1,749

3,163

4,651

Payment of initial public offering costs

-

-

-

-

-

-

-

-

-

109

1,642

228

1,579

Principal payments for finance lease obligations

15

-

-

-

0

-

-

-

-

-

-

-

-

Net cash provided by financing activities

30,206

6,131

-17,717

26,127

17,342

-1,212

245,341

17,237

12,036

-4,106

146,375

3,930

3,623

Effect of exchange rate changes on cash and cash equivalents

-25

4

-10

38

0

-

-

-

-

-

-

-

-

Net change in cash, cash equivalents, and restricted cash

-16,736

28,230

-40,019

-146,852

-32,966

-21,881

249,291

9,748

-10,761

-9,880

156,481

21,185

-22,973

Supplemental disclosure of cash flow information
Cash paid for interest

1,582

0

1,258

0

1,202

0

0

0

0

-

-

-

-

Non-cash transactions
Temporary Equity, Accretion to Redemption Value, Adjustment

-

-

-

-

-

-

-

-

-

0

40,225

110,920

24,770

Stock-based compensation capitalized in property and equipment

504

349

370

291

270

159

119

120

124

74

63

57

74

Deferred initial public offering cost accruals

-

-

-

-

-

-

-

-

-

-

-143

153

190

Property and equipment additions in accounts payable and accrued liabilities

-

-

-

-

-

-

4

-34

55

-

0

-37

37

Leasehold improvements paid directly by lessor

0

1,932

854

1,481

1,963

1,054

0

926

0

718

0

0

104

Cash in transit for exercised stock options

-

-

-

-

-

-

-

-

-

-

0

0

0