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Jun 30, 2022
Opendoor Q2 2022 Earnings Report
Opendoor's financial performance increased significantly, marked by substantial revenue growth and improved profitability.
Key Takeaways
Opendoor reported a strong second quarter with revenue increasing by 254% year-over-year to $4.2 billion. Gross profit reached $486 million, and the company achieved a net loss of $(54) million, an improvement compared to the previous year's $(144) million. The company sold 10,482 homes, a 201% increase year-over-year, and expanded its market presence to 51 markets.
Revenue increased by 254% year-over-year, reaching $4.2 billion.
Gross profit increased by 206% year-over-year to $486 million, with a gross margin of 11.6%.
Net loss improved to $(54) million, compared to $(144) million in the same quarter last year.
The company sold 10,482 homes, representing a 201% increase compared to the prior year.
Forward Guidance
Opendoor anticipates revenue between $2.2 billion and $2.6 billion and Adjusted EBITDA between $(175) million and $(125) million for the third quarter of 2022.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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