Published on 2 May 2024 on GuruFocus.com via Yahoo Finance
Opendoor Technologies Inc (OPEN) Q1 2024 Earnings: A Detailed Review Against Analyst Expectations
Revenue: $1.2 billion, a decrease of 62% from Q1 2023 but an increase of 36% from Q4 2023, exceeding the estimated $1.093 billion.Net Loss: $(109) million, widened from $(101) million in Q1 2023 and $(91) million in Q4 2023, exceeding the estimated $(103.32) million.Gross Margin: Improved to 9.7% from 5.4% in Q1 2023 and from 8.3% in Q4 2023.Homes Sold: Totaled 3,078, marking a decrease of 63% from Q1 2023 but an increase of 30% from Q4 2023.Inventory Balance: Ended at $1.9 billion, representing 5,706 homes, showing a decrease of 11% from Q1 2023 but an increase of 6% from Q4 2023.Adjusted EBITDA: Reported at $(50) million, improved from $(341) million in Q1 2023 and $(69) million in Q4 2023.Contribution Margin: Improved to 4.8%, up from -7.7% in Q1 2023 and 3.4% in Q4 2023.
Warning! GuruFocus has detected 7 Warning Signs with OPEN.