NASDAQ$OPEN

Opendoor Technologies Inc · Q1 2025 earnings

Q1 2025 earnings · · After market close · Investor relations

Briefing

Opendoor reported Q1 2025 revenue of $1.15B with a net loss of $85M and diluted EPS of $(0.12).

Revenue was $1.15 billion as home-sale volumes and margins remained under pressure in a higher-rate housing market. The company posted a net loss of $85 million, or $0.12 per diluted share, versus a $109 million loss a year ago as cost actions and inventory turns improved modestly.

  • Q1 revenue $1.15B.
  • Net loss $85M; diluted EPS $(0.12).
  • Gross profit $99M on lower cost of revenue.
  • iBuyer inventory and marketing efficiency remain key levers.

Headline financials

Total Revenue

$1.15B

Previous: $1.18B-2.4%
EPS (adj)

-$0.12

Previous: -$0.16+25.0%
Homes Sold

2.9K

Previous: 3.1K-4.3%
Homes Purchased

3.6K

Previous: 3.5K+4.4%
Homes in Inventory

7.1K

Previous: 5.7K+24.1%
Inventory Balance

$2.36B

Previous: $1.88B+25.6%
Contribution Profit

$54M

Previous: $57M-5.3%
Contribution Margin

4.7%

Previous: 4.8%-2.1%
Adjusted EBITDA Margin

-2.6%

Previous: -4.2%+38.1%
Adjusted Net Loss

-$63M

Previous: -$80M+21.3%
Capital Expenditures

-$4M

Previous: -$8M+50.0%
Net Income

-$85M

Previous: -$109M+22.0%
Operating Income

-$56M

Previous: -$87M+35.6%
Gross Profit

$99M

Previous: $114M-13.2%

Revenue & EPS history

Opendoor · Revenue · Quarterly

$1.15B

Q1 2025-2.4%vs Q1 2024
Beat estimate in 14 of 15 quarters(93%)
ActualEstimate

Forward guidance

Consumer, insurance, and software platforms discuss growth investment, retention, and unit economics rather than long-range GAAP EPS targets in the 10-Q.

Tailwinds

  • Platform scale and recurring revenue where applicable.
  • Cost discipline and marketing efficiency initiatives.
  • Balance sheet liquidity to fund growth.

Headwinds

  • Macro sensitivity for discretionary spend and housing.
  • Competitive pressure on customer acquisition costs.
  • Path to sustained profitability still evolving for growth names.

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 2025

Historical avgQ1 2025

-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

Earnings price reactions
QuarterReport dateReaction (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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