Opendoor Stock Rallies After Better-Than-Expected Q1: Details

Opendoor Technologies, Inc. OPEN released its first-quarter results after Tuesday's closing bell. Here's a look at the details from the report.

The Details: Opendoor Technologies reported quarterly losses of nine cents per share, which beat the analyst consensus estimate of losses of 10 cents. Quarterly revenue of $1.15 billion beat the analyst consensus estimate of $1.06 billion.

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For the first quarter, Opendoor reported:

• Inventory balance of $2.4 billion, representing 7,080 homes, up 26% year-over-year.
• Purchased 3,609 homes, up 4% year-over-year.
• Ended the quarter with 1,051 homes under contract for purchase, down 60% from the prior year’s quarter.

“We’ve spent the last decade building a modern real estate platform — designed to deliver simplicity, certainty and a customer-first experience. We entered 2025 with a clear plan to drive toward profitability while strengthening our product experience and platform. Our first-quarter results reflect disciplined execution: we improved Adjusted EBITDA and sharply reduced Adjusted Net Losses,” said Carrie Wheeler, CEO of Opendoor.

Outlook: Opendoor issued second-quarter revenue guidance of $1.45 billion to $1.525 billion.

OPEN Price Action: According to data from Benzinga Pro, Opendoor stock was up 8.37% after-hours at 76 cents on Tuesday.  

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