XML 23 R12.htm IDEA: XBRL DOCUMENT v3.8.0.1
Operating Segments
 3 Months Ended
Mar. 31, 2018
Segment Reporting [Abstract]  
Operating Segments
Operating Segments

Operating segments are defined as components of an enterprise for which separate financial information is available and evaluated regularly by the chief operating decision maker (“CODM”) in deciding how to make operating decisions, allocate resources and in assessing performance. The Company has five operating segments and one reportable segment, real estate. Real estate revenue is derived from commissions and fees charged on real estate transactions closed by us or partner agents. Other revenue consists of fees earned for title and settlement services, mortgage banking operations, Walk Score licensing and advertising fees, homes sold through Redfin Now, and other services. The Company’s CODM is its Chief Executive Officer. The CODM evaluates the performance of the Company’s operating segments based on revenue and gross profit. The Company does not analyze discrete segment balance sheet information related to long-term assets, all of which are located in the United States. All other financial information is presented on a consolidated basis.

Information on each of the reportable and other segments and reconciliation to consolidated net loss is as follows:
 
Three Months Ended March 31,
 
2018
 
2017
 
 
 
 
Real estate
 
 
 
Revenue
$
74,924

 
$
58,372

Cost of revenue
68,164

 
51,156

Gross profit
$
6,760

 
$
7,216

Other
 
 
 
Revenue
$
4,969

 
$
1,496

Cost of revenue
6,033

 
2,336

Gross profit
$
(1,064
)
 
$
(840
)
Consolidated
 
 
 
Revenue
$
79,893

 
$
59,868

Cost of revenue
74,197

 
53,492

Gross profit
$
5,696

 
$
6,376

Operating expenses
42,870

 
34,498

Net loss
$
(36,439
)
 
$
(28,066
)