Opendoor Technologies Inc (NASDAQ:OPEN) reported financial results for the fourth quarter after the market close on Thursday. Here’s a look at the key details from the print.
- Opendoor Technologies stock is surging to new heights today. What’s behind OPEN gains?
Opendoor Exceeds Analyst Estimates In Q4
Opendoor reported fourth-quarter revenue of $736 million, beating analyst estimates of $594.02 million, according to Benzinga Pro. The company reported a fourth-quarter loss of seven cents per share, beating estimates for a loss of 10 cents per share.
Opendoor said it purchased 1,706 homes in the quarter, up 46% quarter-over-quarter. The company also sold 1,978 homes as the percentage of homes on the market over 120 days declined from 51% to 33% sequentially.
“These results reflect structural improvements in how we operate with more accurate pricing, faster inventory turns, and disciplined selection,” said Kaz Nejatian, CEO of Opendoor.
What’s Next For Opendoor
Opendoor said it expects revenue in the first quarter to decrease approximately 10% year-over-year. The company anticipates a first-quarter adjusted EBITDA loss in the low to mid $30 millions.
“Our contribution margin bottomed out in September and has been improving every month since. We expect to exit Q1 2026 with the highest contribution margin we’ve posted since Q2 2024,” the company said.
Opendoor’s management team will further discuss the quarter on an earnings call at 5 p.m. ET.
OPEN Shares Rise After The Bell
OPEN Price Action: Opendoor shares were up 13.76% in after-hours Thursday, trading at $5.35 at the time of publication, according to Benzinga Pro.
Image: Shutterstock.com
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