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Condensed Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Revenue:        
Revenue $ 768,352 $ 599,578 $ 1,894,173 $ 1,053,682
Cost of revenue (exclusive of amortization)        
Cost of revenue 461,071 [1] 271,221 [1] 1,222,743 422,569
Sales and marketing 155,598 187,433 360,246 349,020
Technology and development 128,857 120,330 263,775 228,100
General and administrative 85,511 82,839 177,796 178,613
Impairment costs 0 0 76,800 0
Integration costs 0 293 0 645
Total costs and expenses 831,037 662,116 2,101,360 1,178,947
Loss from operations (62,685) (62,538) (207,187) (125,265)
Gain on partial extinguishment of 2021 Notes 6,391 0 6,391 0
Other income 10,115 9,458 19,708 18,626
Interest expense (37,590) (18,897) (75,182) (35,363)
Loss before income taxes (83,769) (71,977) (256,270) (142,002)
Income tax benefit (expense) (679) 0 8,549 2,500
Net loss $ (84,448) $ (71,977) $ (247,721) $ (139,502)
Net loss per share - basic and diluted (usd per share) $ (0.38) $ (0.35) $ (1.15) $ (0.68)
Weighted-average shares outstanding - basic and diluted (in shares) 219,467 205,754 215,070 205,137
Amortization of website development costs and intangible assets included in technology and development $ 13,100 $ 11,000 $ 24,900 $ 22,000
Technology and Development        
Cost of revenue (exclusive of amortization)        
Amortization of website development costs and intangible assets included in technology and development [1] 18,857 14,656 36,041 29,056
Homes        
Revenue:        
Revenue 454,252 248,924 1,224,125 377,396
Cost of revenue (exclusive of amortization)        
Cost of revenue 431,788 [1] 240,732 [1] 1,163,987 363,151
Sales and marketing 47,877 37,409 119,466 58,271
Technology and development 28,918 18,198 61,456 30,479
General and administrative 21,902 17,808 45,323 32,165
Impairment costs     0 0
Integration costs 0 0 0 0
Total costs and expenses 530,485 314,147 1,390,232 484,066
Loss from operations (76,233) (65,223) (166,107) (106,670)
Other income 0 0 0 0
Interest expense (3,825) (5,899) (11,909) (9,657)
Loss before income taxes (80,058) (71,122) (178,016) (116,327)
IMT        
Revenue:        
Revenue 280,339 323,669 611,005 621,941
Cost of revenue (exclusive of amortization)        
Cost of revenue 23,387 [1] 26,059 [1] 47,705 50,310
Sales and marketing 96,026 135,440 216,199 262,094
Technology and development 93,176 94,261 188,204 182,230
General and administrative 53,884 54,671 112,638 125,521
Impairment costs     73,900 0
Integration costs 0 0 0 0
Total costs and expenses 266,473 310,431 638,646 620,155
Loss from operations 13,866 13,238 (27,641) 1,786
Other income 5,300 0 5,300 0
Interest expense 0 0 0 0
Loss before income taxes 19,166 13,238 (22,341) 1,786
Mortgages Segment        
Revenue:        
Revenue 33,761 26,985 59,043 54,345
Cost of revenue (exclusive of amortization)        
Cost of revenue 5,896 [1] 4,430 [1] 11,051 9,108
Sales and marketing 11,695 14,584 24,581 28,655
Technology and development 6,763 7,871 14,115 15,391
General and administrative 9,725 10,360 19,835 20,927
Impairment costs     2,900 0
Integration costs 0 293 0 645
Total costs and expenses 34,079 37,538 72,482 74,726
Loss from operations (318) (10,553) (13,439) (20,381)
Other income 385 402 587 715
Interest expense (307) (287) (533) (388)
Loss before income taxes $ (240) $ (10,438) $ (13,385) $ (20,054)
[1] Amortization of website development costs and intangible assets included in technology and development of $18,857 and $14,656 for the three months ended June 30, 2020 and 2019, respectively and $36,041 and $29,056 for the six months ended June 30, 2020 and 2019, respectively.