Opendoor(US:OPEN) Globenewswireยท2025-05-06 20:05Core Insights - Opendoor Technologies Inc. reported its financial results for Q1 2025, showing a revenue of $1.2 billion, a decrease of 2% compared to Q1 2024, but an increase of 6% from Q4 2024 [8][12] - The company aims to drive towards profitability while enhancing its product experience and platform, as stated by CEO Carrie Wheeler [2][3] Financial Performance - Revenue for Q1 2025 was $1.2 billion, down 2% year-over-year but up 6% quarter-over-quarter [8] - Gross profit was $99 million, compared to $114 million in Q1 2024 and $85 million in Q4 2024, resulting in a gross margin of 8.6% [8][12] - The net loss for the quarter was $(85) million, an improvement from $(109) million in Q1 2024 and $(113) million in Q4 2024 [8][12] - Adjusted EBITDA was $(30) million, an improvement from $(50) million in Q1 2024 and $(49) million in Q4 2024, with an adjusted EBITDA margin of (2.6)% [8][12] Operational Metrics - Total homes sold in Q1 2025 were 2,946, down 4% from Q1 2024 but up 4% from Q4 2024 [8] - The inventory balance at the end of Q1 2025 was $2.4 billion, representing 7,080 homes, which is up 26% year-over-year and up 9% quarter-over-quarter [8] - The company purchased 3,609 homes in Q1 2025, an increase of 4% year-over-year and 22% quarter-over-quarter [8] Future Outlook - For Q2 2025, Opendoor expects revenue guidance between $1.45 billion and $1.525 billion [8] - Contribution profit guidance for Q2 2025 is projected to be between $65 million and $75 million [8] - Adjusted EBITDA guidance for Q2 2025 is anticipated to be between $10 million and $20 million [8]