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Mar 31, 2021
Opendoor Q1 2021 Earnings Report
Reported financial results for the quarter ended March 31, 2021.
Key Takeaways
Opendoor Technologies Inc. reported strong Q1 2021 financial results, exceeding guidance with significant growth in homes sold, homes purchased, and total revenue. The company experienced record offer requests, conversion of real sellers, and number of market launches, while maintaining a high Net Promoter Score (NPS) from sellers.
Total homes sold reached 2,462, marking a 190% increase compared to 4Q20.
Total homes purchased amounted to 3,594, reflecting a 78% increase compared to 4Q20.
Total revenue reached $747 million, demonstrating a 200% increase compared to 4Q20.
GAAP Gross Profit was $97 million, representing 13% of total revenue.
Forward Guidance
This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking, including statements regarding our financial condition, anticipated financial performance, business strategy and plans, market opportunity and expansion and objectives of management for future operations.
Positive Outlook
- Statements regarding our financial condition
- Statements regarding anticipated financial performance
- Statements regarding business strategy and plans
- Statements regarding market opportunity and expansion
- Statements regarding objectives of management for future operations.
Challenges Ahead
- Our public securities’ potential liquidity and trading
- Our ability to raise financing in the future
- Our success in retaining or recruiting, or changes required in, our offices, key employees or directors
Historical Earnings Impact
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Avg. Return Before/After Earnings
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