---
schema_version: "secwatch.filing_event.v1"
accession: "0001801169-24-000084"
form_type: "8-K"
ticker: "OPEN"
cik: "0001801169"
company_name: "Opendoor Technologies Inc."
filed_at: "2024-05-02T23:59:59+00:00"
generated_at: "2026-06-03T00:47:47.071112+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Opendoor Q1 revenue $1.2B (-62% YoY) beats guidance; Contribution Margin 4.8%

## Summary
- Net loss $(109)M vs $(101)M YoY; Adjusted EBITDA $(50)M beats guidance, improves from $(341)M YoY.
- Gross profit $114M (9.7% margin) vs $170M (5.4%) YoY; QoQ improvement from $72M (8.3%).
- Homes sold 3,078 (-63% YoY, +30% QoQ); purchased 3,458 (+98% YoY); homes under contract 2,611 (+130% YoY).
- Inventory $1.9B (5,706 homes); CEO says doubled market share YoY; ramping acquisitions in 2024.
- Guidance: on track to rescale business with Contribution Margin within target annual range.

## SEC filing metadata
- accession: 0001801169-24-000084
- form_type: 8-K
- ticker: OPEN
- cik: 0001801169
- company_name: Opendoor Technologies Inc.
- filed_at: 2024-05-02T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1801169/000180116924000084/0001801169-24-000084-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1801169/000180116924000084/open-20240502.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001801169-24-000084
- JSON: https://secwatch.observer/filing/0001801169-24-000084.json
- Plain text: https://secwatch.observer/filing/0001801169-24-000084.txt

## Key facts
- Earnings Releases
  Opendoor Technologies Inc. reported the first quarter ended March 31, 2024 results: revenue $1.2 billion, net income $(109) million.
  - Period: the first quarter ended March 31, 2024
  - Revenue: $1.2 billion
  - Net income: $(109) million
  - Result: reported results
  source text: the future of real estate, empowering consumers to sell and buy with ease through a simple, certain, and transparent offering.” First Quarter 2024 Key Highlights • Revenue of $1.2 billion, down (62)% versus 1Q23 and up 36% versus 4Q23; with 3,078 total homes sold, down (63)% versus 1Q23 and up 30% versus 4Q23 • Gross profit of $114 million, versus $170 million in
  evidence_url: https://www.sec.gov/Archives/edgar/data/1801169/000180116924000084/0001801169-24-000084-index.htm

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