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Segment Reporting and Revenue
 3 Months Ended
Mar. 31, 2025
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 revenue, gross profit, operating income, and net (loss) income. 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 net (loss) income 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.
Three Months Ended March 31, 2025
Real estate servicesRentalsMortgage
Title
Monetization
Corporate overheadTotal
Revenue
$126,278 $52,288 $29,318 $8,637 $4,506 $— $221,027 
Cost of revenue106,423 12,964 23,912 6,994 100 — 150,393 
Gross profit19,855 39,324 5,406 1,643 4,406 — 70,634 
Operating expenses
Technology and development25,489 10,992 689 108 784 1,424 39,486 
Marketing28,358 10,243 644 18 2 — 39,265 
General and administrative17,731 14,603 6,364 703 947 16,119 56,467 
Restructuring and reorganization— — — — — 20,930 20,930 
Total operating expenses71,578 35,838 7,697 829 1,733 38,473 156,148 
(Loss) income from operations
(51,723)3,486 (2,291)814 2,673 (38,473)(85,514)
Interest income, interest expense, income tax expense, gain on extinguishment of convertible senior notes, and other expense, net50 102 5 160 59 (7,381)(7,005)
Net (loss) income
$(51,673)$3,588 $(2,286)$974 $2,732 $(45,854)$(92,519)
Three Months Ended March 31, 2024
Real estate servicesRentalsMortgage
Title
Monetization
Corporate overheadTotal
Revenue
$131,180 $49,518 $33,819 $6,513 $4,449 $— $225,479 
Cost of revenue110,914 11,457 25,904 6,166 226 — 154,667 
Gross profit20,266 38,061 7,915 347 4,223 — 70,812 
Operating expenses
Technology and development28,507 15,512 656 95 737 922 46,429 
Marketing11,177 12,788 906 7 — — 24,878 
General and administrative19,775 22,478 6,683 827 327 17,783 67,873 
Restructuring and reorganization— — — — — 889 889 
Total operating expenses59,459 50,778 8,245 929 1,064 19,594 140,069 
(Loss) income from operations
(39,193)(12,717)(330)(582)3,159 (19,594)(69,257)
Interest income, interest expense, income tax expense, gain on extinguishment of convertible senior notes, and other expense, net
(46)7 3 139 105 2,275 2,483 
Net (loss) income
$(39,239)$(12,710)$(327)$(443)$3,264 $(17,319)$(66,774)