Opendoor Technologies reported a quarterly revenue of $736 million, exceeding expectations, despite a 32% year-over-year decline in revenue and a staggering net loss of $1.1 billion, up 870% from last year. The company attributed its challenges to a significant drop in revenue from the previous quarter and projected further EBITDA losses of $33 million to $43 million for Q1. Despite these financial strains, Opendoor's stock surged by as much as 19% following the announcement, as the company aims for profitability by the end of 2026.
“Opendoor · increased home purchases · properties · 46%”
“Opendoor · dropped revenue · year-over-year · 32%”
“Opendoor · carries net debt · amount · $2B”
“Opendoor · has gross margins · percentage · 8.2%”
“Opendoor · guided Q1 revenue down · percentage · 10%”
“Opendoor · projected EBITDA losses · amount · $33M to $43M”
“Opendoor · stock jumped · percentage · 7.5%”
“Opendoor · quarterly revenue · amount · $736 million”
“Opendoor · drop in revenue from previous quarter · percentage · 20%”
“Opendoor · net losses · amount · $1.1 billion”
“Opendoor · homes sold · count · 1,978”
“Opendoor · homes on hand · count · 2,867”