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Segment Reporting and Revenue
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Segment Reporting and Revenue Segment Reporting and Revenue
In its operation of our business, our management, including our chief operating decision maker ("CODM"), who is also our chief executive officer, evaluates the performance of our operating segments based on our statement of operations results, inclusive of net loss. We do not analyze discrete segment balance sheet information related to long-term assets, substantially all of which are located in the United States. We have five operating segments and five reportable segments: real estate services, rentals, mortgage, title, and monetization.

We generate revenue primarily from commissions and fees charged on each real estate services transaction closed by our lead agents or partner agents, from subscription-based product offerings for our rentals business, and from the origination, sales, and servicing of mortgages. Our key revenue components are brokerage revenue, partner revenue, rentals revenue, mortgage revenue, title revenue, and monetization revenue.

Our CODM utilizes the segment financial information presented to assess trends in our segments and make resource allocation and business direction decisions. Some examples include determining whether we need to decrease spending in particular segments to help achieve profit targets, determining whether staffing levels and pay are appropriate for each segment, or considering different customer pricing strategies. These decisions are typically made in consultation with business leaders for each segment, who evaluate the output and recommend changes to our CODM.

Information on each of our reportable and other segments and reconciliation to consolidated net (loss) income from continuing operations is presented in the tables below. We have assigned certain previously reported expenses to each segment to conform to the way we internally manage and monitor our business. We allocated indirect costs to each segment based on a reasonable allocation methodology, when such costs are significant to the performance measures of the segments.
Year Ended December 31, 2024
Real estate servicesRentalsMortgage
Title
Monetization
Corporate overhead
Total
Revenue
$642,867 $203,739 $139,829 $37,509 $19,035 $— $1,042,979 
Cost of revenue487,513 47,724 115,556 27,024 961 — 678,778 
Gross profit155,354 156,015 24,273 10,485 18,074 — 364,201 
Operating expenses
Technology and development105,268 48,015 2,727 448 3,107 4,362 163,927 
Marketing57,961 53,490 2,988 37 4 1 114,481 
General and administrative74,794 88,447 25,428 3,215 1,520 41,960 235,364 
Restructuring and reorganization— — — — — 5,684 5,684 
Total operating expenses238,023 189,952 31,143 3,700 4,631 52,007 519,456 
(Loss) income from continuing operations
(82,669)(33,937)(6,870)6,785 13,443 (52,007)(155,255)
Interest income, interest expense, income tax benefit, gain on extinguishment of convertible senior notes, and other expense, net
(25)197 (2,968)690 283 (7,723)(9,546)
Net (loss) income from continuing operations
$(82,694)$(33,740)$(9,838)$7,475 $13,726 $(59,730)$(164,801)
Year Ended December 31, 2023
Real estate servicesRentalsMortgage
Title
Monetization
Corporate overhead
Total
Revenue(1)
$618,577 $184,812 $134,108 $25,095 $14,080 $— $976,672 
Cost of revenue462,625 42,086 118,178 23,335 629 — 646,853 
Gross profit155,952 142,726 15,930 1,760 13,451 — 329,819 
Operating expenses
Technology and development108,201 63,934 2,871 510 3,994 3,784 183,294 
Marketing59,746 53,952 4,064 54 6 41 117,863 
General and administrative76,851 94,252 25,012 2,776 1,241 38,658 238,790 
Restructuring and reorganization— 503 — — — 7,424 7,927 
Total operating expenses244,798 212,641 31,947 3,340 5,241 49,907 547,874 
(Loss) income from continuing operations(88,846)(69,915)(16,017)(1,580)8,210 (49,907)(218,055)
Interest income, interest expense, income tax expense, gain on extinguishment of convertible senior notes, and other expense, net59 215 (392)348 364 91,069 91,663 
Net (loss) income from continuing operations$(88,787)$(69,700)$(16,409)$(1,232)$8,574 $41,162 $(126,392)
(1) Included in revenue is $1,244 from providing services to our discontinued properties segment.


Year Ended December 31, 2022
Real estate servicesRentalsMortgageTitle
Monetization
Corporate overhead
Total
Revenue(1)
$787,076 $155,910 $132,904 $17,425 $6,259 $— $1,099,574 
Cost of revenue608,027 33,416 126,552 21,694 766 — 790,455 
Gross profit179,049 122,494 6,352 (4,269)5,493 — 309,119 
Operating expenses
Technology and development105,196 59,899 6,034 1,728 1,863 4,204 178,924 
Marketing98,673 51,064 4,889 194 5 484 155,309 
General and administrative88,171 92,728 25,680 2,751 556 33,504 243,390 
Restructuring and reorganization— — — — — 32,353 32,353 
Total operating expenses292,040 203,691 36,603 4,673 2,424 70,545 609,976 
Loss from continuing operations(112,991)(81,197)(30,251)(8,942)3,069 (70,545)(300,857)
Interest income, interest expense, income tax expense (benefit) and other income, net(123)1,389 (114)47 93 49,768 51,060 
Net loss from continuing operations$(113,114)$(79,808)$(30,365)$(8,895)$3,162 $(20,777)$(249,797)
(1) Included in revenue is $17,783 from providing services to our discontinued properties segment.
Effective December 31, 2024, we determined that our monetization operating segment, previously included within our other segment, meets the quantitative thresholds for separate reporting under ASC 280. This determination was based on monetization’s segment profit exceeding 10% of the combined reported segment profit. Accordingly, monetization is now reported as a separate reportable segment. We have recast our segment information for all prior periods to conform to the current segment structure. This change in segment reporting has no impact on our historical consolidated balance sheets, results of operations, or cash flows. Segment information for the years ended 2023 and 2022, as previously reported and as recast, is presented below:
Year Ended December 31, 2023
Previously reported
Recast
Other
Title
Monetization
Revenue$39,175 $25,095 $14,080 
Cost of revenue23,964 23,335 629 
Gross profit15,211 1,760 13,451 
Operating expenses
Technology and development4,504 510 3,994 
Marketing60 54 6 
General and administrative4,017 2,776 1,241 
Restructuring and reorganization— — — 
Total operating expenses8,581 3,340 5,241 
Income (loss) from continuing operations6,630 (1,580)8,210 
Interest income, interest expense, income tax expense, gain on extinguishment of convertible senior notes, and other expense, net712 348 364 
Net income (loss) from continuing operations$7,342 $(1,232)$8,574 
Year Ended December 31, 2022
Previously reported
Recast
Other
Title
Monetization
Revenue$23,684 $17,425 $6,259 
Cost of revenue22,460 21,694 766 
Gross profit1,224 (4,269)5,493 
Operating expenses
Technology and development3,591 1,728 1,863 
Marketing199 194 5 
General and administrative3,307 2,751 556 
Restructuring and reorganization— — — 
Total operating expenses7,097 4,673 2,424 
(Loss) income from continuing operations(5,873)(8,942)3,069 
Interest income, interest expense, income tax expense, gain on extinguishment of convertible senior notes, and other expense, net140 47 93 
Net (loss) income from continuing operations$(5,733)$(8,895)$3,162