Opendoor Q4 2022 revenue $2.9B, net loss $399M; guides Q1 2023 revenue $2.45-2.65B, Adj EBITDA -$350M to -$370M

Opendoor Technologies Inc.

2022-FY EPS reported -$2.16 revenue$15,567,000,000

Q4 2022 revenue $2.9B, down 25% YoY; homes sold 7,512, down 23% YoY.
GAAP net loss $399M vs $191M loss in Q4 2021; Adjusted EBITDA -$351M vs breakeven.
Full year 2022 revenue $15.6B (+94%), net loss $1.353B, adjusted EBITDA -$168M.
Q1 2023 guidance: revenue $2.45-2.65B, Adjusted EBITDA -$350M to -$370M.
New book (post-Q2 cohort) contribution margin 9.7% in Q4; expect positive unit margins by 2H 2023.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Opendoor Technologies Inc. reported Full Year 2022 results: revenue $15.6 billion, net income $(1.4) billion. Guidance initiated.

Period: Full Year 2022
Revenue: $15.6 billion
Net income: $(1.4) billion
Guidance: initiated
Result: reported results

Exact text from the filing

Full Year 2022 Key Highlights • Total revenue of $15.6 billion, up 94% versus 2021; with 39,183 homes sold, up 80% versus 2021 • Gross profit of $667 million, which reflects an inventory valuation adjustment on homes remaining in inventory at year end of $458 million; Gross Margin of 4.3% versus 9.1% in 2021 • Net loss of $(1.4) billion, versus $(662) million in 2021

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Opendoor Technologies Inc. reported Fourth Quarter 2022 results: revenue $2.9 billion, net income $(399) million. Guidance initiated.

Period: Fourth Quarter 2022
Revenue: $2.9 billion
Net income: $(399) million
Guidance: initiated
Result: reported results

Exact text from the filing

Fourth Quarter 2022 Key Highlights • Revenue of $2.9 billion, down (25)% versus 4Q21; with 7,512 total homes sold, down (23)% versus 4Q21 • Gross profit of $71 million, which reflects an inventory valuation adjustment on homes remaining in inventory at year end of $73 million; Gross Margin of 2.5%, versus 7.1% in 4Q21 • Net loss of $(399) million, versus $(191) million in 4Q21

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3 earnings releases filed in the last 30 days. Browse all earnings releases →

Opendoor Technologies Inc. filing history →

Source: SEC EDGAR

accession 0001801169-23-000022

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