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Sep 30, 2021
Opendoor Q3 2021 Earnings Report
Reported financial results for the quarter ended September 30, 2021.
Key Takeaways
Opendoor's Q3 2021 results showed significant growth, exceeding expectations with $2.3 billion in revenue, 15,181 homes acquired, and over $170 million in Contribution Profit and $35 million in Adjusted EBITDA.
Revenue reached $2.3 billion, a 91% increase compared to Q2 2021, with 5,988 homes sold, up 72% from the previous quarter.
Gross profit was $202 million, compared to $159 million in 2Q21, while gross margin was 8.9%, down from 13.4% in 2Q21.
Net loss was $(57) million, an improvement from $(144) million in 2Q21.
The company expanded to 44 markets by the end of 3Q21, launching 5 new markets and purchased 15,181 homes, up 79% versus 2Q21.
Forward Guidance
Opendoor anticipates revenue between $3.1 billion and $3.2 billion and Adjusted EBITDA between ($5) million and $5 million for 4Q21.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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