NASDAQ$OPEN
Opendoor Technologies Inc · Q1 2022 earnings
Q1 2022 earnings · · Investor relations
Briefing
Opendoor reported a quarter with record revenue, gross profit, and positive net income, demonstrating strong growth and consumer adoption.
Opendoor Technologies Inc. reported its Q1 2022 financial results, achieving record revenue of $5.2 billion, a gross profit of $535 million, and a net income of $28 million. The company sold 12,669 homes and launched its services in the San Francisco Bay Area, expanding its reach to 45 markets.
- Achieved highest quarterly revenue of $5.2 billion, up 590% year-over-year.
- Reached a record gross profit of $535 million, up 452% year-over-year.
- Reported first quarter of positive net income of $28 million.
- Inventory balance of 13,360 homes, representing $4.7 billion in value, up 455% year-over-year.
Headline financials
Revenue & EPS history
Opendoor · Revenue · Quarterly
$5.15B
Forward guidance
Opendoor anticipates revenue between $4.1 billion and $4.3 billion and Adjusted EBITDA between $170 million and $190 million for Q2 2022.
Tailwinds
- Revenue guidance of $4.1 billion - $4.3 billion, up 254% YoY at the midpoint of range
- Adjusted EBITDA guidance of $170 million - $190 million, up 604% YoY at the midpoint of range
- Demonstrates continued growth trajectory
- Reflects strong consumer demand
- Highlights operational efficiency improvements
Headwinds
- Guidance is subject to market conditions
- Assumes no significant disruptions in the housing market
- Depends on the company's ability to manage inventory effectively
- Relies on maintaining current margins
- Vulnerable to changes in interest rates
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2022
-5.3%
Avg return
Earnings day
-7.8%
Avg return
5 days after
-3.7%
Avg return
30 days after
36%
10 / 28 earnings
Positive
+33.6%
Q1 2023
Best reaction
-25.9%
Q2 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -1.0% | -13.7% | -17.3% | |
| Q4 2025 | -5.8% | +7.1% | +5.6% | |
| Q3 2025 | +17.2% | +42.8% | +9.0% | |
| Q1 2025 | +24.4% | +0.9% | -3.0% | |
| Q4 2024 | -6.3% | -14.0% | -21.0% | |
| Q3 2024 | +3.9% | -0.6% | +23.6% | |
| Q2 2024 | -19.8% | -26.1% | -7.3% | |
| Q1 2024 | +10.5% | +12.5% | +9.0% | |
| Q4 2023 | -12.8% | -18.6% | -22.3% | |
| Q3 2023 | +10.6% | +9.5% | +75.7% | |
| Q2 2023 | -25.9% | -25.7% | -18.6% | |
| Q1 2023 | +33.6% | +60.4% | +85.1% | |
| Q4 2022 | -13.5% | -22.2% | -10.3% | |
| Q3 2022 | -11.8% | -28.4% | -25.3% | |
| Q2 2022 | +9.8% | +4.2% | -21.3% | |
| Q1 2022 | -16.3% | -26.9% | -6.2% | |
| Q4 2021 | -8.5% | -10.7% | -6.2% | |
| Q3 2021 | +7.4% | +7.4% | -28.7% | |
| Q2 2021 | +21.1% | +9.8% | +26.3% | |
| Q1 2021 | -9.5% | -9.8% | +3.1% | |
| Q2 2019 | -23.8% | -25.0% | -24.6% | |
| Q1 2019 | -23.8% | -25.0% | -24.6% | |
| Q4 2020 | -23.8% | -25.0% | -24.6% | |
| Q4 2019 | -23.8% | -25.0% | -24.6% | |
| Q4 2018 | -23.8% | -25.0% | -24.6% | |
| Q3 2019 | -23.8% | -25.0% | -24.6% | |
| Q2 2020 | -23.8% | -25.0% | -24.6% | |
| Q3 2020 | +11.2% | -0.7% | +19.1% | |
| Q1 2020 | — | — | — | |
| Q1 2014 | — | — | — | |
| Q4 2013 | — | — | — | |
| Q3 2013 | — | — | — | |
| Q2 2013 | — | — | — | |
| Q1 2013 | — | — | — | |
| Q4 2012 | — | — | — | |
| Q3 2012 | — | — | — | |
| Q2 2012 | — | — | — |
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