---
schema_version: "secwatch.filing_event.v1"
accession: "0001801169-24-000015"
form_type: "8-K"
ticker: "OPEN"
cik: "0001801169"
company_name: "Opendoor Technologies Inc."
filed_at: "2024-02-15T23:59:59+00:00"
generated_at: "2026-06-06T01:25:44.113771+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Opendoor Q4 revenue $870M beats guidance; net loss narrows to $91M

## Summary
- Q4 revenue $870M, above guidance $800-850M; FY23 revenue $6.9B (-55% YoY).
- Q4 gross margin 8.3%; Contribution Profit $30M (3.4% margin) vs guided 1.9-2.9%.
- Q4 net loss $(91)M vs $(399)M in Q4 2022; Adj. EBITDA loss $(69)M beat guidance $(105)-(95)M.
- Purchased 3,683 homes (+17% QoQ); sold 2,364; inventory $1.775B.
- New book 2023 Contribution Margin 8.3% exceeded 5-7% target; OpEx down ~30% YoY.

## SEC filing metadata
- accession: 0001801169-24-000015
- form_type: 8-K
- ticker: OPEN
- cik: 0001801169
- company_name: Opendoor Technologies Inc.
- filed_at: 2024-02-15T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1801169/000180116924000015/0001801169-24-000015-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1801169/000180116924000015/open-20240215.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001801169-24-000015
- JSON: https://secwatch.observer/filing/0001801169-24-000015.json
- Plain text: https://secwatch.observer/filing/0001801169-24-000015.txt

## Key facts
- Earnings Releases
  Opendoor Technologies Inc. reported fourth quarter ended December 31, 2023 results: revenue $870 million, net income $(91) million.
  - Period: fourth quarter ended December 31, 2023
  - Revenue: $870 million
  - Net income: $(91) million
  - Result: reported results
  source text: The progress we made in 2023 can be seen in our fourth quarter results, where we outperformed guidance on all metrics: ● Purchased 3,683 homes, an increase of 17% quarter-over-quarter and above our prior expectations of approximately 1,000 homes per month. ● Sold 2,364 homes and generated $870 million of revenue, a decrease of 11% quarter-over-quarter and above our guidance range of $800 million to $850 million. ● Delivered Gross Profit of $72 million, representing an 8.3% Gross Margin. Contribution Profit was $30 million, representing a 3.4% Contribution Margin, ahead of our implied Contribution Margin guidance range of 1.9% to 2.9%. ● Recognized Net Loss of $(91) million and Adjusted Net Loss of $(97) million. Adjusted EBITDA Loss was $(69) million, ahead of our guidance range of $(105) million to $(95) million, driven by Contribution Margin outperformance and ongoing cost discipline.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1801169/000180116924000015/0001801169-24-000015-index.htm
- Earnings Releases
  Opendoor Technologies Inc. reported year ended December 31, 2023 results: revenue $6.9 billion, net income $(275) million.
  - Period: year ended December 31, 2023
  - Revenue: $6.9 billion
  - Net income: $(275) million
  - Result: reported results
  source text: Full Year 2023 Key Highlights • Revenue of $6.9 billion, down (55)% versus 2022; with 18,708 total homes sold, down (52)% versus 2022 • Gross profit of $487 million, versus $667 million in 2022; Gross Margin of 7.0% versus 4.3% in 2022 • Net loss of $(275) million, versus $(1.4) billion in 2022
  evidence_url: https://www.sec.gov/Archives/edgar/data/1801169/000180116924000015/0001801169-24-000015-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.