secwatch.observer — SEC 8-K summary
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Issuer:     Opendoor Technologies Inc. (OPEN)
CIK:        0001801169
Form:       8-K
Filed at:   2024-02-15T23:59:59+00:00
Accession:  0001801169-24-000015
Event type: earnings
Sentiment:  positive
Materiality: 0.65
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1801169/000180116924000015/0001801169-24-000015-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1801169/000180116924000015/open-20240215.htm
  HTML page:      https://secwatch.observer/filing/0001801169-24-000015

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