secwatch.observer — SEC 8-K summary
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Issuer:     Opendoor Technologies Inc. (OPEN)
CIK:        0001801169
Form:       8-K
Filed at:   2023-02-23T23:59:59+00:00
Accession:  0001801169-23-000022
Event type: earnings
Sentiment:  negative
Materiality: 0.85
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1801169/000180116923000022/0001801169-23-000022-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1801169/000180116923000022/open-20230223.htm
  HTML page:      https://secwatch.observer/filing/0001801169-23-000022

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer