secwatch.observer — SEC 8-K summary
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Issuer:     Opendoor Technologies Inc. (OPEN)
CIK:        0001801169
Form:       8-K
Filed at:   2023-11-02T23:59:59+00:00
Accession:  0001801169-23-000137
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Opendoor Q3 revenue $980M, down 71% YoY; net loss $106M; guides Q4 revenue $800-850M
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- Revenue $980M, homes sold 2,687 (down 68% YoY); purchased 3,136 homes (up 17% QoQ).
- Gross profit $96M (9.8% margin) vs $(425)M (-12.6%) in 3Q22; net loss $106M.
- Contribution profit $43M (4.4% margin) vs $(22)M; adjusted EBITDA -$49M, ahead of guidance.
- Q4 2023 guidance: revenue $800-850M, contribution profit $15-25M, adjusted EBITDA -$105 to -$95M.
- Inventory $1.3B (4,007 homes), down 78% YoY; total capital $1.5B.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1801169/000180116923000137/0001801169-23-000137-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1801169/000180116923000137/open-20231102.htm
  HTML page:      https://secwatch.observer/filing/0001801169-23-000137

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