NASDAQ$OPEN
Opendoor Technologies Inc · Q3 2024 earnings
Q3 2024 earnings · · Investor relations
Briefing
Opendoor's acquisition volumes, revenue, Contribution Profit, and Adjusted EBITDA exceeded guidance, despite housing market headwinds. Actions taken in the second half of the year will result in annualized savings of approximately $85 million as we enter 2025.
Opendoor Technologies Inc. reported financial results for the third quarter ended September 30, 2024. The company's revenue was $1.4 billion, up 41% year-over-year. They sold 3,615 homes, up 35% year-over-year. The net loss was $(78) million, improved from $(106) million in the third quarter of 2023.
- Revenue of $1.4 billion, up 41% versus 3Q23 and down (9)% versus 2Q24; with 3,615 total homes sold, up 35% versus 3Q23 and down (11)% versus 2Q24
- Gross profit of $105 million, versus $96 million in 3Q23 and $129 million in 2Q24; Gross Margin of 7.6%, versus 9.8% in 3Q23 and 8.5% in 2Q24
- Net loss of $(78) million, versus $(106) million in 3Q23 and $(92) million in 2Q24
- Inventory balance of $2.1 billion, representing 6,288 homes, up 64% versus 3Q23 and down (4)% versus 2Q24
Headline financials
Revenue & EPS history
Opendoor · Revenue · Quarterly
$1.38B
Forward guidance
4Q24 revenue guidance of $925 million to $975 million; 4Q24 Contribution Profit guidance of $15 million to $25 million; 4Q24 Adjusted EBITDA guidance of $(70) million to $(60) million
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 Q3 2024
-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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