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Jun 30, 2021
Opendoor Q2 2021 Earnings Report
Reported financial results for the quarter ended June 30, 2021.
Key Takeaways
Opendoor Technologies Inc. reported strong financial results for Q2 2021, acquiring a record 8,494 homes, generating revenue of $1.2 billion, and delivering adjusted EBITDA of $25.6 million. This represents growth of 136% in homes acquired and 59% in revenue compared to the first quarter.
Revenue of $1.2 billion, up 59% versus 1Q21, with 3,481 total homes sold, up 41% versus 1Q21.
Gross profit of $159 million, up 64% versus 1Q21; gross margin of 13.4%, up 40 basis points versus 1Q21.
Net income of ($144) million, versus ($270) million in 1Q21.
Purchased 8,494 homes, up 136% versus 1Q21.
Opendoor
Opendoor
Forward Guidance
Opendoor anticipates revenue between $1.8 billion and $1.9 billion and adjusted EBITDA between $15 million and $25 million for 3Q21.