Homes Sold

Gross Profit, Operating Income, and Net Income as a percentage of Revenue

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Margins

An operating expense is an expense a business incurs through its normal business operations. Often abbreviated as OPEX.

Sales, marketing and operations

General and administrative

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Restructuring

Operating Expenses

Year over year growth in Revenue and Operating Expenses.

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Shares outstanding refer to a company's stock currently held by all its shareholders, including share blocks held by institutional investors and restricted shares owned by the company's officers and insiders.

Outstanding Shares

Market Cap

Also known as Price/Sales Ratio. Calculated using Average market cap for the quarter / Annualized quarterly revenue.

Revenue Multiple

Opendoor

Opendoor Technologies, Inc. operates as an online platform for buying, selling and trading-in residential properties. The company was founded by Eric Wu on December 30, 2013, and is headquartered in Tempe, AZ.

Earnings data Q1 2021

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Earnings data Q1 2024

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Earnings data Q4 2024

Opendoor targets profitability by 2024 amid market challenges and growth opportunities

Opendoor focuses on stabilizing core business, improving margins, and achieving profitability by 2024, leveraging $2 billion in total capital.
The company's success with exclusive listings and expansion into underserved seller segments present growth opportunities amidst market challenges.
Efficiency improvements, strategic partnerships, and market share expansion are key strategies for Opendoor's path to profitability and growth.

Opendoor reports $3.1B revenue in Q1 but faces margin challenges

Opendoor's Q1 performance showcased strong revenue but highlighted challenges with margins and profitability. The company's strategic focus on partnerships, pricing platforms, and expense management positions it for growth amidst market uncertainties.

Opendoor reports strong Q2 revenue, aims for profitability in 2024

Opendoor's Q2 2023 performance reflects strong revenue, strategic initiatives, and a commitment to profitability. The company faces challenges in managing expenses and scaling initiatives but has opportunities to drive growth through partnerships and operational optimization.
With a focus on consumer experience, cost efficiencies, and brand awareness, Opendoor aims to double volumes by mid-2024 and achieve adjusted net income breakeven in 2024. Managing seasonality and market dynamics are key priorities for sustained success.
By addressing challenges in operational efficiency, marketing costs, and scaling initiatives, Opendoor can capitalize on opportunities for growth, increased market share, and improved financial performance. Strategic planning and a focus on stability are crucial for long-term success.

Opendoor reports robust Q3 earnings, eyes growth amidst market challenges

Opendoor's Q3 performance reflects resilience and growth amidst market challenges, with a focus on efficiency and strategic partnerships.
The company's financial stability, strong revenue, and improved EBITDA loss position it well for future growth and profitability.
Challenges in achieving profitability and scaling operations are balanced by opportunities in market expansion and operational excellence.
Opendoor's commitment to managing costs, leveraging technology, and seizing growth opportunities underscores its strategic vision and resilience.

Opendoor reports robust Q4 performance, eyes sustainable growth in 2024

Opendoor's Q4 2023 performance reflects resilience, efficiency gains, and strategic capital management amidst macroeconomic challenges.
The company's focus on scaling acquisition volumes, reducing expenses, and achieving sustainable growth underscores a commitment to long-term success.
While facing losses in 2024, Opendoor's strong financial position and strategic initiatives position it well for future growth and market expansion.

Opendoor exceeds Q1 expectations, eyes growth amidst challenges

Opendoor demonstrated strong financial performance in Q1 2024, surpassing revenue and profit expectations amidst robust acquisition growth.
While facing challenges such as EBITDA losses and regulatory uncertainties, Opendoor's strategic strengths and growth initiatives position it well for future success.
With a focus on sustainable growth and financial discipline, Opendoor aims to navigate industry changes, capitalize on opportunities, and drive positive outcomes.

Opendoor surpasses Q2 earnings expectations amidst evolving real estate market

Opendoor delivered strong financial performance in Q2 2024, exceeding revenue, contribution margin, and adjusted EBITDA guidance.
The company is strategically positioning itself as a trusted e-commerce platform for residential real estate, focusing on customer value and brand awareness.
While facing challenges from a slowing housing market, Opendoor is proactively adjusting strategies to optimize costs and manage acquisitions.
Opportunities lie in expanding product offerings, enhancing brand awareness, and improving conversion rates through targeted marketing efforts.

Opendoor surpasses Q3 revenue targets, eyes profitability amid market challenges

Opendoor's Q3 performance exceeded expectations with strong revenue and operational metrics, supported by a solid financial position.
While challenges in the housing market persist, the company is focused on cost discipline and efficiency improvements to drive profitability.
Strategic opportunities in expanding innovative products and enhancing marketing efforts position Opendoor for future growth and market leadership.

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Cost of revenue

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EBITDA

Net income

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Current assets

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Receivables

Inventory

Non-current assets

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Total liabilities

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Stockholders equity

Minority interest

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Book value per share

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Change in working capital

Cash from investing

Capital expenditure

Purchase/sale of investments

Purchase/sale of business

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Cash from financing

Change in stock

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Net change in cash

Free cash flow

Opendoor Technologies, Inc. engages in the operation of buying, selling, and trading of residential properties online. The company was founded by Eric Wu on December 30, 2013, and is headquartered in Tempe, AZ.

Open Door is going public. Read about how the founders went from idea to IPO in the Public app.

The company was founded in March 2014 by serial entrepreneurs Keith Rabois, Eric Wu, who previously founded Movity, a real-estate startup acquired by Trulia, and JD Ross.

The company raised $10 million of Series A venture funding in a deal led by Khosla Ventures on September 5, 2014, putting the company's pre-money valuation at $22 million.

The company raised $20 million of Series B funding led by GGV Capital on February 26, 2015, putting the valuation at $112 million.

The company raised $80 million of Series C funding led by Access Technology Ventures on February 4, 2016 with a valuation at $479 million. 

Opendoor then raised $400 million in funding from SoftBank's Vision Fund, putting the company's valuation at around $2 billion.

In July 2019, Opendoor and Redfin partnered to provide more options to home sellers. This means home sellers have the opportunity to compare listing their home on the open market with a full-service Redfin agent to receiving an instant offer from Opendoor and skipping the process of listing altogether.

In February 2020, Opendoor and Redfin expanded partnership to 9 additional markets.

In August 2019, Opendoor launched mortgage services through Opendoor Home Loans, an in-house mortgage business.

In September 2019, it acquired national title and escrow company OS National, allowing integration of title, escrow and closing services und

In 2019, the company sold 18,799 homes across 21 markets, generating $4.7 billion in revenue (up more than 160% from the prior year).

Due to negative business impact from the COVID-19 shutdown, the company laid off 600 employees, which made up 35% of its team.

The company resumed its previously suspended operations due to COVID-19 by introducing a contact-free digital platform.

Opendoor is going public through a merger with Social Capital Hedosophia Holdings II, a SPAC steered by Chamath Palihapitiya. The deal values Opendoor at an enterprise value of $4.8 billion

Since its founding, the Company has served over 80,000 customers and sold over $10 billion of homes. In 2019, the company sold more than 18,000 homes, generating $4.7 billion in revenue.

Redfin.com/news
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Marketwatch
TechCrunch
FinancialTimes

Opendoor's third-quarter numbers exceeded expectations, so why isn't the stock moving higher?

Down 62%, Is Opendoor a Good Stock to Buy Now?

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Opendoor Technologies outperformed revenue expectations in Q3 2024, amid a challenging housing market, but faced pressure on profit margins.

Opendoor's Revenue Shines, Profits Lag

Opendoor Technologies Inc. (OPEN) came out with a quarterly loss of $0.10 per share versus the Zacks Consensus Estimate of a loss of $0.14. This compares to loss of $0.11 per share a year ago.

Opendoor Technologies Inc. (OPEN) Reports Q3 Loss, Tops Revenue Estimates

Opendoor Technologies Inc. (NASDAQ:OPEN ) Q3 2024 Earnings Call Transcript November 7, 2024 5:00 PM ET Company Participants Kimberly Niehaus - IR Carrie Wheeler - CEO Christy Schwartz - Interim CFO Conference Call Participants Ygal Arounian - Citigroup Ryan Tomasello - KBW Nick McAndrew - Zelman & Associates Operator Good day and thank you for standing by. Welcome to the Opendoor Third Quarter 2024 Earnings Conference Call.

Opendoor Technologies Inc. (OPEN) Q3 2024 Earnings Call Transcript

SAN FRANCISCO, Nov. 07, 2024 (GLOBE NEWSWIRE) -- Opendoor Technologies Inc. (Nasdaq: OPEN), a leading e-commerce platform for residential real estate transactions, today reported financial results for its third quarter ended September 30, 2024. Opendoor's third quarter 2024 financial results and management commentary can be accessed through the Company's shareholder letter on the “Quarterly Reports” page of Opendoor's investor relations website at https://investor.opendoor.com/financials-filings/quarterly-reports.

Opendoor Announces Third Quarter of 2024 Financial Results

The company is hurting from rising mortgage rates for residential real estate loans.

Why Opendoor Technologies Stock Slipped 12.5% In October

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Could Buying Opendoor Stock Today Set You Up for Life?

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The sheer scope of Opendoor's pullback was more the result of unlucky timing than an indictment of the company's prospects.

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SAN FRANCISCO, Oct. 10, 2024 (GLOBE NEWSWIRE) -- Opendoor Technologies Inc. (“Opendoor”) (Nasdaq: OPEN), a leading e-commerce platform for residential real estate transactions, today announced that it will report third quarter 2024 financial results for the period ended September 30, 2024 following the close of the market on Thursday, November 7, 2024. On that day, management will host a conference call and webcast at 2:00 p.m. PT (5:00 p.m. ET) to discuss the company's business and financial results.

Opendoor to Report Third Quarter 2024 Financial Results on November 7th, 2024

OPEN's underwhelming FQ3'24 guidance has triggered its stock underperformance compared to its peers/wider market, despite the potential tailwinds from the Fed's recent pivot. Even so, the US average mortgage rates have been moderating, with RDFN already reporting a +68% MoM in mortgage-rate locks by September 23, 2024. Combined with the higher mortgage-purchase applications, we believe that OPEN may generate a robust FY2025 performance, if not earlier by FQ4'24.

Opendoor: Left Behind By Recent Market Recovery - Maintain Speculative Buy

Alphabet Inc. and eBay vet named Chief Financial Officer LegalZoom and Intuit vet named Chief Technology & Product Officer SAN FRANCISCO, Oct. 01, 2024 (GLOBE NEWSWIRE) -- Opendoor Technologies Inc. (“Opendoor”) (Nasdaq: OPEN), the leading e-commerce platform for residential real estate transactions, today announced the appointments of Selim Freiha as Chief Financial Officer and Shrisha Radhakrishna as Chief Technology & Product Officer. “The addition of Selim and Shrisha to our executive team will be instrumental as we continue shaping the future of real estate,” said Carrie Wheeler, CEO of Opendoor.

Opendoor Appoints Selim Freiha as Chief Financial Officer and Shrisha Radhakrishna as Chief Technology & Product Officer

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Opendoor's business has been declining amid pressures in residential real estate. It has a huge market opportunity and disruptive technology.

Prediction: This Stock Down 94% Will Soar With Lower Interest Rates

Opendoor Technologies (NASDAQ:OPEN) is certainly an intriguing stock to many investors.

Opendoor Has Plunged, But Is Now the Time to Buy?

SAN FRANCISCO, Sept. 12, 2024 (GLOBE NEWSWIRE) -- Opendoor Technologies Inc. (“Opendoor”) (Nasdaq: OPEN), a leading e-commerce platform for residential real estate transactions, today announced that David Benson, former President of Fannie Mae, has been appointed to its Board of Directors (“Board”), effective immediately. Mr. Benson will also serve on the Audit Committee of the Board.

David Benson joins Opendoor Board of Directors

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Opendoor's sales have been crushed, but it's making progress in growth and profitability. Home Depot is in a strong cash position and pays a growing dividend.

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Opendoor Technologies Inc. (NASDAQ:OPEN ) 2024 Goldman Sachs Communacopia and Technology Conference Call September 9, 2024 7:25 PM ET Company Participants Carrie Wheeler - Chief Executive Officer Conference Call Participants Michael Ng - Goldman Sachs Michael Ng Welcome to the Opendoor Presentation at the Goldman Sachs Communacopia and Technology Conference. I have the privilege of introducing Carrie Wheeler, who is the CEO of Opendoor.

Opendoor Technologies Inc. (OPEN) 2024 Goldman Sachs Communacopia and Technology Conference (Transcript)

Opendoor's stock was crushed by rising interest rates. Its business is gradually recovering as the housing market stabilizes.

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Redfin

Interest rate cuts are likely to drive a recovery in the housing market. Opendoor and Redfin have a lot of upside potential in a recovery.

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Opendoor stock is surging on expectations that interest rates will soon start to fall.

News for Opendoor Stock (OPEN)