NASDAQ$OPEN
Opendoor Technologies Inc · Q1 2023 earnings
Q1 2023 earnings · · Investor relations
Briefing
Opendoor's Q1 2023 financial results reflected navigating the housing market transition, exceeding sell-through expectations, building inventory with strong margin performance, and right-sizing the cost structure.
Opendoor's Q1 2023 results showed a revenue of $3.1 billion, a net loss of $(101) million, and the sale of 8,274 homes. The company focused on managing the housing market transition, improving sell-through of older inventory, and building new inventory with strong margin performance.
- Revenue was $3.1 billion, a decrease of 39% compared to Q1 2022.
- Gross profit was $170 million, including a $23 million inventory valuation adjustment.
- Net loss was $(101) million, compared to a net income of $28 million in Q1 2022.
- The company purchased 1,747 homes, a decrease of 81% compared to Q1 2022.
Headline financials
Revenue & EPS history
Opendoor · Revenue · Quarterly
$3.12B
Forward guidance
Opendoor anticipates revenue between $1.75 billion and $1.85 billion and Adjusted EBITDA between $(180) million and $(200) million for Q2 2023.
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 2023
-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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