Homes Sold

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

Gross Margin

Operating Margin

Profit Margin

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

Technology and development

Goodwill Impairment

Restructuring

Operating Expenses

Year over year growth in Revenue and Operating Expenses.

Revenue Y/Y

OpEx Y/Y

Growth

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

Earnings data Q2 2021

Earnings data Q3 2021

Earnings data Q4 2021

Earnings data Q1 2022

Earnings data Q2 2022

Earnings data Q3 2022

Earnings data Q4 2022

Earnings data Q1 2023

Earnings data Q2 2023

Earnings data Q3 2023

Earnings data Q4 2023

Earnings data Q1 2024

Earnings data Q2 2024

Earnings data Q3 2024

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.

Revenue

Cost of revenue

Gross profit

Operating expenses

SG&A

Other

Operating income

EBITDA

Net income

Earnings per share

Total assets

Current assets

Cash & equivalents

Receivables

Inventory

Non-current assets

Net PPE

Intangibles

Total liabilities

Current liabilities

Short term debt

Income tax payable

Non-current liabilities

Long-term debt

Total equity

Stockholders equity

Minority interest

Total liabilities & equity

Total debt

Net debt

Book value per share

Cash from operations

Funds from operations

Change in working capital

Cash from investing

Capital expenditure

Purchase/sale of investments

Purchase/sale of business

Other sources

Cash from financing

Change in stock

Change in debt

Cash dividends paid

Cash from other sources

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
Businesswire
Forbes
Marketwatch
TechCrunch
FinancialTimes

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Despite Fast-paced Momentum, Opendoor Technologies Inc. (OPEN) Is Still a Bargain Stock

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The housing market is massively impacted by rising interest rates, which increases the cost of borrowing for mortgages. In fact, this looks to have resulted in over a 22% decline in the number of homes sold in the first quarter of the year according to data from the National Association of Realtors.

2 Stocks to Play a Housing Market Rebound

This could be a home-run stock if the company figures out the home-flipping business.

Is Opendoor Making a Turnaround?

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Opendoor and Redfin are both up sharply today. The moves come a few days after strong earnings reports, but new economic data is fueling investor optimism.

Is Real Estate Back? Here's Why Opendoor and Redfin Are Soaring

In the aftermath of its Q1 2023 earnings release, Opendoor's stock is up ~50% in a couple of trading sessions. For Q1, Opendoor delivered a double beat on the back of stronger-than-expected market clearance rates.

Opendoor Q1 2023 Review: This Deal Won't Last Long

Multiple data sources reported that existing-home sales declined in March. Opendoor has struggled with falling home prices and low sales volume.

Here's Why Opendoor Stock Fell 22% Last Month

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Opendoor Technologies, Inc. (NASDAQ:OPEN ) Q1 2023 Earnings Conference Call May 4, 2023 5:00 PM ET Company Participants Elise Wang - VP & Head, IR Carrie Wheeler - CEO & Director Christina Schwartz - Interim CFO & CAO Dod Fraser - President, Open Exchange & Capital Conference Call Participants Nicholas Jones - JMP Securities Dae Lee - JPMorgan Chase & Co Ryan Tomasello - KBW Jay McCanless - Wedbush Securities Operator Good day, and thank you for standing by. Welcome to the Opendoor Technologies First Quarter 2023 Earnings Conference Call.

Opendoor Technologies, Inc. (OPEN) Q1 2023 Earnings Call Transcript

SAN FRANCISCO, May 04, 2023 (GLOBE NEWSWIRE) -- Opendoor Technologies Inc. (Nasdaq: OPEN), a leading e-commerce platform for residential real estate transactions, today reported financial results for its quarter ended March 31, 2023. Opendoor's first quarter of 2023 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.

Opendoor Announces First Quarter of 2023 Financial Results

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With the broader equity indices struggling for traction, rising recession fears brings the glaring spotlight back on so-called real estate bubble stocks. Due to the unique circumstance underlying the Covid-19 crisis and subsequent governmental response, housing prices skyrocketed.

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Opendoor Technologies Inc. shares took a hit Monday, as Wedbush analyst Jay McCanless backed away from his longtime bullish call on the provider of home-buying and -selling services, citing a dearth of homes for sale and tightening credit standards.

Opendoor downgraded as mortgage-credit availability plummets

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Earnings season has yet to fully engulf the FinTech IPO sector. But there was plenty of other news to go around — where macro headwinds were in evidence, forcing at least one platform to scale back its headcount.

Opendoor Cuts More Staff and Leads FinTech IPO Index Down 0.7%

Real estate tech company Opendoor (NASDAQ: OPEN ) just announced layoffs amid an overall weak demand structure for the housing market. According to Reuters, the Opendoor layoffs will impact about 560 jobs or 22% of the company's workforce.

Opendoor Layoffs 2023: What to Know About the Latest OPEN Job Cuts

The concept of taking existing properties and repurposing them is not a new one. After all, Airbnb is a high-profile example of people turning vacation homes, for example, into revenue generators when they're not using them.

Opendoor alums raise $15M for Kindred, a home-swapping network

Opendoor Technologies Inc shares slid 5% to $1.66 on Tuesday after the online real estate company announced it is eliminating about 560 jobs, or 22% of its workforce, mostly from its operations unit, citing a weaker housing market. Today's job cuts are in addition to the 550 positions the San Francisco-based firm said it would eliminate in November.

Opendoor Technologies sheds 22% of its workforce; stock price falls

Opendoor Technologies Inc. OPEN, -3.43% shares fell late Tuesday following reports the online real estate company was laying off 22% of its workforce, or about 560 jobs. Opendoor shares fell as much as 5% in late trading.

Opendoor stock slumps following reports that 22% of workforce will be laid off

Opendoor Technologies Inc. is about 85% of the way through shedding the inflated housing inventory it bought in Q2 2022. Opendoor calls this group of housing its reset quarter. Opendoor's founder and old CEO has passed the reins to the CFO, Carrie Wheeler, making her the new CEO.

Opendoor: Path To Free Cash Flow Breakeven, 15 Months

Opendoor shares have tanked while the company struggles with high mortgage rates. The real estate tech company benefited from an unexpected jump in home sales and increased likelihood of the Fed suspending rate hikes.

Here's Why Opendoor Shares Rose 22% in March

Property Technology, or PropTech, is an industry that centers around the digital transformation of the legacy property industry. This includes the use of software and technology tools to automate various processes and improve the customer (buyer/renter) or landlord (owner) experience.

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SAN FRANCISCO, April 06, 2023 (GLOBE NEWSWIRE) -- Opendoor Technologies Inc. (“Opendoor”) (Nasdaq: OPEN), a leading e-commerce platform for residential real estate transactions, today announced that it will report first quarter 2023 financial results for the period ended March 31, 2023 following the close of the market on Thursday, May 4, 2023. 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.

News for Opendoor Stock (OPEN)