Opendoor FY2024 revenue down 26% to $5.2B, net loss $392M; Q4 contribution profit improves

Opendoor Technologies Inc.

2024-FY EPS reported -$0.56 revenue$5,153,000,000

FY2024 revenue $5.2B (-26% YoY); net loss $392M vs $275M loss in 2023.
Q4 2024 revenue $1,084M (up 25% YoY); net loss $113M vs $91M loss in Q4 2023.
Contribution Profit swung to positive $242M in FY2024 from negative $258M; Adjusted EBITDA loss reduced to $142M from $627M.
Purchased 14,684 homes in FY2024 (+31% YoY); completed separation of Mainstay and initiated workforce reduction in Q4.
Gross margin improved to 8.4% in FY2024 from 7.0%; management targets sustained profitability.

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