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Condensed Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Revenue:        
Revenue $ 1,309,980 $ 768,352 $ 2,528,420 $ 1,894,173
Cost of revenue (exclusive of amortization)        
Cost of revenue 771,585 487,483 1,482,905 1,279,881
Gross profit 538,395 280,869 1,045,515 614,292
Operating expenses:        
Sales and marketing 229,434 160,667 427,389 369,111
Technology and development 128,463 97,507 248,764 197,988
General and administrative 115,102 85,380 215,556 177,580
Impairment costs 0 0 0 76,800
Acquisition-related costs 3,671 0 4,488 0
Total operating expenses 476,670 343,554 896,197 821,479
Income (loss) from operations 61,725 (62,685) 149,318 (207,187)
Gain (loss) on extinguishment of debt (931) 6,391 (2,334) 6,391
Other income 1,587 10,115 4,026 19,708
Interest expense (39,430) (37,590) (78,985) (75,182)
Income (loss) before income taxes 22,951 (83,769) 72,025 (256,270)
Income tax expense (13,310) (679) (10,420) 8,549
Net income (loss) $ 9,641 $ (84,448) $ 61,605 $ (247,721)
Net income (loss) per share:        
Basic (usd per share) $ 0.04 $ (0.38) $ 0.25 $ (1.15)
Diluted (usd per share) $ 0.04 $ (0.38) $ 0.24 $ (1.15)
Weighted-average shares outstanding:        
Basic (in shares) 248,152 219,467 245,763 215,070
Diluted (in shares) 261,496 219,467 260,484 215,070
Accumulated Deficit        
Operating expenses:        
Net income (loss) $ 9,641 $ (84,448) $ 61,605 $ (247,721)
Homes segment        
Revenue:        
Revenue 777,145 454,252 1,481,297 1,224,125
Cost of revenue (exclusive of amortization)        
Cost of revenue 707,522 434,900 1,352,125 1,170,659
Gross profit 69,623 19,352 129,172 53,466
Operating expenses:        
Sales and marketing 65,791 47,539 120,810 119,457
Technology and development 30,328 26,155 63,497 54,815
General and administrative 27,824 21,891 53,347 45,301
Impairment costs     0 0
Acquisition-related costs 0 0 0 0
Total operating expenses 123,943 95,585 237,654 219,573
Income (loss) from operations (54,320) (76,233) (108,482) (166,107)
Other income 0 0 0 0
Interest expense (5,026) (3,825) (9,338) (11,909)
Income (loss) before income taxes (59,346) (80,058) (117,820) (178,016)
IMT        
Revenue:        
Revenue 476,090 280,339 922,418 611,005
Cost of revenue (exclusive of amortization)        
Cost of revenue 43,444 45,354 90,481 95,407
Gross profit 432,646 234,985 831,937 515,598
Operating expenses:        
Sales and marketing 136,620 101,458 254,227 225,019
Technology and development 89,838 65,890 168,482 131,865
General and administrative 68,944 53,771 127,592 112,455
Impairment costs     0 73,900
Acquisition-related costs 3,671 0 4,488 0
Total operating expenses 299,073 221,119 554,789 543,239
Income (loss) from operations 133,573 13,866 277,148 (27,641)
Other income 0 5,300 0 5,300
Interest expense 0 0 0 0
Income (loss) before income taxes 133,573 19,166 277,148 (22,341)
Mortgages segment        
Revenue:        
Revenue 56,745 33,761 124,705 59,043
Cost of revenue (exclusive of amortization)        
Cost of revenue 20,619 7,229 40,299 13,815
Gross profit 36,126 26,532 84,406 45,228
Operating expenses:        
Sales and marketing 27,023 11,670 52,352 24,635
Technology and development 8,297 5,462 16,785 11,308
General and administrative 18,334 9,718 34,617 19,824
Impairment costs     0 2,900
Acquisition-related costs 0 0 0 0
Total operating expenses 53,654 26,850 103,754 58,667
Income (loss) from operations (17,528) (318) (19,348) (13,439)
Other income 1,006 385 2,738 587
Interest expense (1,163) (307) (2,895) (533)
Income (loss) before income taxes $ (17,685) $ (240) $ (19,505) $ (13,385)