XML 39 R4.htm IDEA: XBRL DOCUMENT v3.20.4
Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Revenue:      
Revenue $ 3,339,817 $ 2,742,837 $ 1,333,554
Cost of revenue (exclusive of amortization)      
Cost of revenue 1,756,395 1,432,021 153,590
Sales and marketing 672,816 714,128 552,621
Technology and development 518,072 477,347 410,818
General and administrative 357,122 366,176 262,153
Impairment costs 76,800 0 79,000
Acquisition-related costs 0 0 2,332
Integration costs 0 650 2,015
Total costs and expenses 3,381,205 2,990,322 1,462,529
Loss from operations (41,388) (247,485) (128,975)
Gain on extinguishment of 2021 Notes 1,448 0 0
Other income 25,529 39,658 19,270
Interest expense (155,227) (101,792) (41,255)
Loss before income taxes (169,638) (309,619) (150,960)
Income tax benefit 7,523 4,258 31,102
Net loss $ (162,115) $ (305,361) $ (119,858)
Net loss per share - basic and diluted (usd per share) $ (0.72) $ (1.48) $ (0.61)
Weighted-average shares outstanding - basic and diluted (in shares) 223,848 206,380 197,944
Homes      
Revenue:      
Revenue $ 1,715,375 $ 1,365,250 $ 52,365
Cost of revenue (exclusive of amortization)      
Cost of revenue [1] 1,621,040 1,315,345 49,392
Sales and marketing 190,829 171,634 17,134
Technology and development 119,885 78,994 21,351
General and administrative 87,071 81,407 22,002
Impairment costs 0 0 0
Acquisition-related costs 0 0 0
Integration costs 0 0 0
Total costs and expenses 2,018,825 1,647,380 109,879
Loss from operations (303,450) (282,130) (57,514)
Other income 0 0 0
Interest expense (16,804) (29,990) (2,177)
Loss before income taxes (320,254) (312,120) (59,691)
IMT      
Revenue:      
Revenue 1,450,232 1,276,896 1,201,143
Cost of revenue (exclusive of amortization)      
Cost of revenue [1] 104,091 98,522 96,693
Sales and marketing 422,385 488,909 502,785
Technology and development 367,070 365,769 363,712
General and administrative 225,102 243,636 220,564
Impairment costs 73,900 0 75,000
Acquisition-related costs 0 0 27
Integration costs 0 0 0
Total costs and expenses 1,192,548 1,196,836 1,258,781
Loss from operations 257,684 80,060 (57,638)
Other income 5,300 0 0
Interest expense 0 0 0
Loss before income taxes 262,984 80,060 (57,638)
Mortgages      
Revenue:      
Revenue 174,210 100,691 80,046
Cost of revenue (exclusive of amortization)      
Cost of revenue [1] 31,264 18,154 7,505
Sales and marketing 59,602 53,585 32,702
Technology and development 31,117 32,584 25,755
General and administrative 44,949 41,133 19,587
Impairment costs 2,900 0 4,000
Acquisition-related costs 0 0 2,305
Integration costs 0 650 2,015
Total costs and expenses 169,832 146,106 93,869
Loss from operations 4,378 (45,415) (13,823)
Other income 2,369 1,409 244
Interest expense (2,233) (956) (132)
Loss before income taxes $ 4,514 $ (44,962) $ (13,711)
[1]  ____________________
(1) Amortization of website development costs and intangible assets included in technology and development