NASDAQ$OPEN

Opendoor Technologies Inc · Q4 2024 earnings

Q4 2024 earnings · · After market close · Investor relations

Briefing

Opendoor reported Q4 2024 revenue of $1.08B with a net loss of $113M.

Q4 revenue was $1.08 billion (+25% quarter over quarter). Net loss was $113 million; adjusted net loss was $77 million. Full-year revenue was $5.15 billion as the company reduced adjusted net losses versus 2023.

  • Q4 revenue $1.08B (+25% QoQ).
  • Net loss $113M; adjusted net loss $77M.
  • FY2024 revenue $5.15B.
  • 1Q25 revenue guide $1.0B–$1.075B.

Headline financials

Total Revenue

$1.08B

Previous: $870M+24.6%
EPS (adj)

-$0.16

Previous: -$0.14-14.3%
Gross Margin

7.8%

No prior period
Homes Sold

2.8K

Previous: 2.4K+19.4%
Homes Purchased

3.0K

Previous: 3.7K-19.9%
Homes in Inventory

6.4K

Previous: 5.3K+20.5%
Inventory Balance

$2.16B

Previous: $1.78B+21.6%
Contribution Profit

$38M

Previous: $30M+26.7%
Contribution Margin

3.5%

Previous: 3.4%+2.9%
Adjusted EBITDA

-$49M

No prior period
Adjusted EBITDA Margin

-4.5%

Previous: -7.9%+43.0%
Adjusted Net Loss

-$77M

Previous: -$97M+20.6%
% Homes >120 Days

46.0%

No prior period
Net Income

-$113M

Previous: -$91M-24.2%
Operating Income

-$94M

Previous: -$115M+18.3%
Gross Profit

$85M

Previous: $72M+18.1%

Revenue & EPS history

Opendoor · Revenue · Quarterly

$1.08B

Q4 2024+24.6%vs Q4 2023
Beat estimate in 14 of 15 quarters(93%)
ActualEstimate

Forward guidance

Management cites product investment, subscriber growth, and margin discipline.

Tailwinds

  • Platform or subscription metrics support the growth narrative.
  • Cost actions may improve profitability over time.

Headwinds

  • Macro and competition can pressure growth and ARPU.
  • Marketing and R&D spend may weigh on near-term earnings.

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 Q4 2024

Historical avgQ4 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

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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