$RDFN Earnings look stellar.

Total Revenue up 40% but recall iBuying impacts revenue due to whole home price accounted as revenue, so look closer:

Brokerage revenue up 55%
Other Revenue (mortgage and title) up 120% (!)
RedfinNow/iBuying up 17%
Monthly average visitors +30% to 46 million.

U.S. Market share 1.14% up from 1.04% in Q4 and 0.93% in 1Q2020

Average revenue per first-party transaction at record high $10,927

Brokerage transactions up 38% - this is an important KPI as rev growth is partly due to rev per tx
Other services (mortgage and title) as a percentage of non-iBuying activities 5.64% up from 3.99% in 1Q2020.

I use this statistic to track the "take-rate" of mortgage and title.
Gross Profit of $42M up 229% from $12M in 1Q2020.
(Improving leverage)

Operating expenses up 9% on 58% brokerage + other revenue growth (!).
(Improving leverage)

First quarter where all 3 segments contributed to gross profit.
RedfinNow segment has rebounded rapidly from the COVID shutdown.

Up 17% YoY. Headed back to growth.

Total Revenue inclusive of RentPath $446-457M (109-114% YoY)
RentPath $41-42M implies
Organic Total Revenue of $404-416M (89%-95%)
Properties Revenue $151-156M (109%-116%)
Net loss of -38 to -32M incl. $16M loss related to RentPath acq.

Comps will look interesting..
Thoughts: Redfin is executing and guiding well. Hiring at a bewildering pace, 2,277 agents active in quarter.

Q1 GPM is much higher due to higher activity than typical Q1.

My main question is whether or not they can continue to see leverage or if agent pay creates a ceiling.

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More from @plantmath1

7 May
$ROKU ER. Wow.

-Total Rev $574M +79% from $321M
beat est. $491M by 17%
-Platform Revenue +101%
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-EBITDA positive $126M up from a loss -$55M
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$ROKU Q2 Guidance:
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represents 73% YoY growth
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represents 104% YoY growth
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Read 4 tweets
6 May
Depending on what second you look at the share price, $ETSY is priced at 36x 2022 analyst est EPS. A lot of names are not crazy expensive anymore.
$PINS is 40x an estimate of $1.50 2022 EPS
$FSLY is <8x 2y forward EV/S if they grow 30% for 2 years.
Read 4 tweets
5 May
$FSLY Call

CEO: Despite reopening comps we expect continued growth in Q2.

Typically Q2 is flat from Q1 followed by growth into the second half of the year.

It is now possible to buy Fastly and SS in one contract reducing sales cycles.

(reuploaded, bad typo)
Highlights privacy as a focus of efforts, separate from security. Edge compute + security + privacy is the focus.

Several wins across different verticals fin services, a cryptocurrency platform, insurance technology company, etc. [didn't catch them all]
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Read 25 tweets
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NonGaap GM of 60.1%, loss $13M
DBNER 139%
Enterprise customers 336, up from 324 in Q4 2020
Average enterprise customer spend $800,000, up from $782,000 in Q4 2020
$FSLY Signal Sciences
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Enterprise customer count of 86, up from 78 at the end of Q4 2020
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Read 12 tweets
4 May
$SKLZ Call is video!
$SKLZ Call -
CEO: We are excited to expand our games to synchronous categories including FPS and RTS games. We are currently working with developer partners to test the technology. We anticipate growing to other categories such as battle royale.
We are focusing on partnering with brands. We imagine a world where all brands have their own games where players can [win prizes, etc].
Read 24 tweets
4 May

92% Revenue Growth to $84M beats est $78M
Raised FY21 Guidance to $375M representing 63% growth

Paying MAU up 81% YoY
MAU to Paid MAU conversion rate up to 17% from 16% in Q4
ARPU $10.35
Added our first ever Chief Marketing Officer, Tyler Williamson, who comes to Skillz from Beats Electronics LLC.
Read 10 tweets

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