secwatch.observer — SEC 8-K summary
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Issuer:     Opendoor Technologies Inc. (OPEN)
CIK:        0001801169
Form:       8-K
Filed at:   2022-08-04T23:59:59+00:00
Accession:  0001801169-22-000075
Event type: earnings
Sentiment:  negative
Materiality: 0.85
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Opendoor Q2 revenue $4.2B (+254% YoY), record gross profit; guides Q3 Adj EBITDA loss of $125-175M
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- Revenue $4.2B, up 254% YoY; net loss $(54)M vs $(144)M; adjusted EBITDA $218M vs $25M.
- Gross profit $486M (11.6% margin); Contribution profit $422M record (10.1% margin).
- Q3 guidance: revenue $2.2-2.6B, Adj EBITDA $(175) to $(125)M reflecting housing slowdown.
- Rapid macro shift: 30-yr mortgage rates averaged 5.3% in Q2; company increased spreads, cut listing prices to manage risk.
- Ended Q2 with 17,013 homes inventory ($6.6B); $2.5B cash; expanded to 51 markets; exclusive Zillow partnership.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1801169/000180116922000075/0001801169-22-000075-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1801169/000180116922000075/open-20220804.htm
  HTML page:      https://secwatch.observer/filing/0001801169-22-000075

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