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Segment Reporting and Revenue
 3 Months Ended
Mar. 31, 2024
Segment Reporting [Abstract]  
Segment Reporting and Revenue Segment Reporting and Revenue
In its operation of our business, our management, including our chief operating decision maker ("CODM"), who is also our chief executive officer, evaluates the performance of our operating segments based on revenue, gross profit, operating income, and net income. We do not analyze discrete segment balance sheet information related to long-term assets, substantially all of which are located in the United States. We have five operating segments and three reportable segments, real estate services, rentals, and mortgage.

We generate revenue primarily from commissions and fees charged on each real estate services transaction closed by our lead agents or partner agents, from subscription-based product offerings for our rentals business, and from the origination, sales, and servicing of mortgages. Our key revenue components are brokerage revenue, partner revenue, rentals revenue, mortgage revenue, and other revenue.

Information on each of our reportable and other segments and reconciliation to net (loss) income from continuing operations is presented in the tables 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 March 31, 2024
Real estate servicesRentalsMortgageOtherCorporate overheadTotal
Revenue
$131,180 $49,518 $33,819 $10,962 $— $225,479 
Cost of revenue110,914 11,457 25,904 6,392 — 154,667 
Gross profit20,266 38,061 7,915 4,570 — 70,812 
Operating expenses
Technology and development28,507 15,512 656 832 922 46,429 
Marketing11,177 12,788 906 7 — 24,878 
General and administrative19,775 22,478 6,683 1,154 17,783 67,873 
Restructuring and reorganization— — — — 889 889 
Total operating expenses59,459 50,778 8,245 1,993 19,594 140,069 
(Loss) income from continuing operations(39,193)(12,717)(330)2,577 (19,594)(69,257)
Interest income, interest expense, income tax expense, gain on extinguishment of convertible senior notes, and other expense, net(46)7 3 244 2,275 2,483 
Net (loss) income from continuing operations$(39,239)$(12,710)$(327)$2,821 $(17,319)$(66,774)
Three Months Ended March 31, 2023
Real estate servicesRentalsMortgageOtherCorporate overheadTotal
Revenue(1)
$127,296 $42,870 $36,489 $7,428 $— $214,083 
Cost of revenue111,494 9,765 29,213 5,473 — 155,945 
Gross profit15,802 33,105 7,276 1,955 — 58,138 
Operating expenses
Technology and development28,895 15,964 643 1,224 937 47,663 
Marketing25,060 14,326 980 10 27 40,403 
General and administrative19,618 26,302 6,929 1,053 15,537 69,439 
Restructuring and reorganization— — — — 1,053 1,053 
Total operating expenses73,573 56,592 8,552 2,287 17,554 158,558 
Loss from continuing operations(57,771)(23,487)(1,276)(332)(17,554)(100,420)
Interest income, interest expense, income tax expense, gain on extinguishment of convertible senior notes, and other expense, net
— 45 (60)115 43,010 43,110 
Net (loss) income from continuing operations
$(57,771)$(23,442)$(1,336)$(217)$25,456 $(57,310)
(1) Included in revenue is $1,149 from providing services to our discontinued properties segment.