Core Insights - Opendoor Technologies reported a 4% year-over-year revenue increase to $1.6 billion, surpassing analyst expectations of $1.5 billion [1] - The company narrowed its loss per share to $0.04 from $0.13 in the same period last year [1] - For the first time in three years, Opendoor achieved an adjusted EBITDA profit of $23 million [1] Financial Performance - Revenue for Q2 reached $1.6 billion, a 4% increase compared to the previous year [1] - The loss per share improved to $0.04, compared to a loss of $0.13 in the prior year [1] - Adjusted EBITDA profit was recorded at $23 million, marking a significant milestone for the company [1] Future Outlook - The company expects Q3 revenue to be between $800 million and $875 million, which is below the analyst average estimate of $1.2 billion [1] - CFO Selim Freiha indicated that the real estate market has further deteriorated in recent quarters [1] - The ongoing high mortgage rates are cited as a key factor suppressing buyer demand, leading to lower liquidation rates and record-high delistings of properties [1]