Opendoor Q3 revenue $1.4B beats guidance, net loss narrows to $78M

Opendoor Technologies Inc.

2024-Q3 EPS reported -$0.40 revenue$4,069,000,000

Revenue $1.4B (+41% YoY), gross profit $105M (7.6% margin); beat guidance.
Net loss $(78)M improves from $(106)M in 3Q23; Adj. EBITDA $(38)M loss.
Purchased 3,504 homes; inventory $2.1B (6,288 homes); sold 3,615 homes (+35% YoY).
Annualized cost savings of ~$85M from restructuring actions; streamlines cost structure.

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