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Condensed Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Revenue:        
Revenue $ 656,692 $ 745,208 $ 2,550,865 $ 1,798,890
Cost of revenue (exclusive of amortization)        
Cost of revenue 216,224 [1] 399,835 [1] 1,438,967 822,404
Sales and marketing 150,826 181,347 511,072 530,367
Technology and development 127,300 123,974 391,075 352,074
General and administrative 85,895 88,493 263,691 267,106
Impairment costs 0 0 76,800 0
Integration costs 0 5 0 650
Total costs and expenses 580,245 793,654 2,681,605 1,972,601
Income (loss) from operations 76,447 (48,446) (130,740) (173,711)
Gain on partial extinguishment of 2021 Notes 0 0 6,391 0
Other income 3,018 8,999 22,726 27,625
Interest expense (39,470) (26,502) (114,652) (61,865)
Income (loss) before income taxes 39,995 (65,949) (216,275) (207,951)
Income tax benefit (expense) (425) 1,300 8,124 3,800
Net income (loss) $ 39,570 $ (64,649) $ (208,151) $ (204,151)
Basic (usd per share) $ 0.17 $ (0.31) $ (0.95) $ (0.99)
Diluted (usd per share) $ 0.16 $ (0.31) $ (0.95) $ (0.99)
Basic (in shares) 229,719 207,002 219,989 205,766
Diluted (in shares) 242,632 207,002 219,989 205,766
Amortization of website development costs and intangible assets included in technology and development $ 12,800 $ 11,100 $ 37,700 $ 33,100
Technology and Development        
Cost of revenue (exclusive of amortization)        
Amortization of website development costs and intangible assets included in technology and development [1] 19,245 15,835 55,286 44,891
Homes        
Revenue:        
Revenue 187,105 384,626 1,411,230 762,022
Cost of revenue (exclusive of amortization)        
Cost of revenue 179,804 [1] 370,796 [1] 1,343,791 733,947
Sales and marketing 32,714 49,186 152,180 107,457
Technology and development 28,273 20,651 89,729 51,130
General and administrative 20,334 22,174 65,657 54,339
Impairment costs     0 0
Integration costs 0 0 0 0
Total costs and expenses 261,125 462,807 1,651,357 946,873
Income (loss) from operations (74,020) (78,181) (240,127) (184,851)
Other income 0 0 0 0
Interest expense (1,597) (9,689) (13,506) (19,346)
Income (loss) before income taxes (75,617) (87,870) (253,633) (204,197)
IMT        
Revenue:        
Revenue 415,389 335,290 1,026,394 957,231
Cost of revenue (exclusive of amortization)        
Cost of revenue 28,448 [1] 24,318 [1] 76,153 74,628
Sales and marketing 102,902 118,514 319,101 380,608
Technology and development 90,536 94,656 278,740 276,886
General and administrative 53,547 55,749 166,185 181,270
Impairment costs     73,900 0
Integration costs 0 0 0 0
Total costs and expenses 275,433 293,237 914,079 913,392
Income (loss) from operations 139,956 42,053 112,315 43,839
Other income 0 0 5,300 0
Interest expense 0 0 0 0
Income (loss) before income taxes 139,956 42,053 117,615 43,839
Mortgages Segment        
Revenue:        
Revenue 54,198 25,292 113,241 79,637
Cost of revenue (exclusive of amortization)        
Cost of revenue 7,972 [1] 4,721 [1] 19,023 13,829
Sales and marketing 15,210 13,647 39,791 42,302
Technology and development 8,491 8,667 22,606 24,058
General and administrative 12,014 10,570 31,849 31,497
Impairment costs     2,900 0
Integration costs 0 5 0 650
Total costs and expenses 43,687 37,610 116,169 112,336
Income (loss) from operations 10,511 (12,318) (2,928) (32,699)
Other income 636 344 1,223 1,059
Interest expense (553) (280) (1,086) (668)
Income (loss) before income taxes $ 10,594 $ (12,254) $ (2,791) $ (32,308)
[1] Amortization of website development costs and intangible assets included in technology and development of $19,245 and $15,835 for the three months ended September 30, 2020 and 2019, respectively and $55,286 and $44,891 for the nine months ended September 30, 2020 and 2019, respectively.