Quarterly report pursuant to Section 13 or 15(d)

Segment Reporting and Revenue (Tables)

v3.22.2
Segment Reporting and Revenue (Tables)
6 Months Ended
Jun. 30, 2022
Segment Reporting [Abstract]  
Reconciliation of Operating Profit (Loss) from Segments to Consolidated Information on each of the reportable and other segments and reconciliation to consolidated net loss is presented in the table 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 June 30, 2022
Real estate services Properties Rentals Mortgage Other Corporate Overhead and Intercompany Eliminations Total
Revenue $ 251,809  $ 262,606  $ 38,248  $ 53,098  $ 5,894  $ (4,740) $ 606,915 
Cost of revenue 177,698  255,839  7,901  46,316  5,898  (4,740) 488,912 
Gross profit 74,111  6,767  30,347  6,782  (4) —  118,003 
Operating expenses
Technology and development 27,696  4,684  14,871  1,904  1,189  1,162  51,506 
Marketing 40,765  821  13,086  1,843  71  157  56,743 
General and administrative 24,341  3,210  21,824  9,450  850  12,058  71,733 
Restructuring and reorganization —  —  —  —  —  12,677  12,677 
Total operating expenses 92,802  8,715  49,781  13,197  2,110  26,054  192,659 
Loss from operations (18,691) (1,948) (19,434) (6,415) (2,114) (26,054) (74,656)
Interest income, interest expense, income tax expense, and other expense, net (123) (1,245) 232  (35) 11  (2,330) (3,490)
Net loss $ (18,814) $ (3,193) $ (19,202) $ (6,450) $ (2,103) $ (28,384) $ (78,146)

Three Months Ended June 30, 2021
Real estate services Properties Rentals Mortgage Other Corporate Overhead and Intercompany Eliminations Total
Revenue $ 252,199  $ 172,445  $ 42,548  $ 5,099  $ 3,422  $ (4,398) $ 471,315 
Cost of revenue 164,125  167,420  7,570  6,832  3,630  (4,398) 345,179 
Gross profit 88,074  5,025  34,978  (1,733) (208) —  126,136 
Operating expenses
Technology and development 20,010  3,080  13,568  2,536  479  1,815  41,488 
Marketing 41,746  572  12,607  130  30  313  55,398 
General and administrative 18,498  2,078  23,116  1,927  416  13,532  59,567 
Total operating expenses 80,254  5,730  49,291  4,593  925  15,660  156,453 
Income (loss) from operations 7,820  (705) (14,313) (6,326) (1,133) (15,660) (30,317)
Interest income, interest expense, income tax expense, and other expense, net (3) (662) 212  2,890  2,439 
Net income (loss) $ 7,817  $ (1,367) $ (14,101) $ (6,325) $ (1,132) $ (12,770) $ (27,878)
Six Months Ended June 30, 2022
Real estate services Properties Rentals Mortgage Other Corporate Overhead and Intercompany Eliminations Total
Revenue $ 429,295  $ 642,359  $ 76,292  $ 56,015  $ 10,263  $ (9,963) $ 1,204,261 
Cost of revenue 331,482  614,704  15,094  51,834  10,570  (9,963) 1,013,721 
Gross profit 97,813  27,655  61,198  4,181  (307) —  190,540 
Operating expenses
Technology and development 54,435  8,803  29,154  4,251  2,225  2,278  101,146 
Marketing 71,608  1,974  24,128  1,871  125  379  100,085 
General and administrative 47,333  6,035  46,015  10,974  1,562  18,780  130,699 
Restructuring and reorganization —  —  —  —  —  18,386  18,386 
Total operating expenses 173,376  16,812  99,297  17,096  3,912  39,823  350,316 
(Loss) income from operations (75,563) 10,843  (38,099) (12,915) (4,219) (39,823) (159,776)
Interest income, interest expense, income tax expense, and other expense, net (123) (2,869) 701  (35) 12  (6,862) (9,176)
Net (loss) income $ (75,686) $ 7,974  $ (37,398) $ (12,950) $ (4,207) $ (46,685) $ (168,952)

Six Months Ended June 30, 2021
Real estate services Properties Rentals Mortgage Other Corporate Overhead and Intercompany Eliminations Total
Revenue $ 420,808  $ 265,171  $ 42,548  $ 10,810  $ 7,068  $ (6,771) $ 739,634 
Cost of revenue 292,342  258,551  7,570  12,701  6,747  (6,771) 571,140 
Gross profit 128,466  6,620  34,978  (1,891) 321  —  168,494 
Operating expenses
Technology and development 40,130  5,910  13,767  4,904  952  3,503  69,166 
Marketing 52,928  779  12,611  264  63  555  67,200 
General and administrative 42,429  4,507  23,149  3,352  933  22,587  96,957 
Total operating expenses 135,487  11,196  49,527  8,520  1,948  26,645  233,323 
Loss from operations (7,021) (4,576) (14,549) (10,411) (1,627) (26,645) (64,829)
Interest income, interest expense, income tax expense, and other expense, net (31) (1,082) 212  2,065  1,167 
Net loss $ (7,052) $ (5,658) $ (14,337) $ (10,409) $ (1,626) $ (24,580) $ (63,662)