Opendoor(US:OPEN)2025-02-27 22:04Financial Performance in 4Q24 - Revenue reached $1.1 billion, a 25% increase compared to $870 million in 4Q23[6, 27] - Gross profit was $85 million, up from $72 million in 4Q23, with a gross margin of 7.8%[6] - Contribution Profit increased to $38 million from $30 million in 4Q23, resulting in a Contribution Margin of 3.5%[6] - Adjusted EBITDA loss improved to $(49) million from $(69) million in 4Q23[7] - The company purchased 2,951 homes in 4Q24, compared to 3,683 homes in 4Q23[28] Full Year 2024 Results - Full-year revenue was $5.2 billion, down from $6.9 billion in 2023[27] - Full-year gross margin increased to 8.4% from 7.0% in 2023[5] - Contribution Margin was 4.7%, a significant improvement from (3.7)% in 2023[5] - The company acquired 14,684 homes, a 31% increase compared to 2023[5, 28] - Adjusted EBITDA loss for the full year was $(142) million, an improvement from $(627) million in 2023[33] Outlook for 1Q25 - Revenue is projected to be between $1.0 billion and $1.075 billion[39] - Contribution Profit is expected to range from $40 million to $50 million, with a Contribution Margin of 4.0% to 4.7%[39] - Adjusted EBITDA loss is anticipated to be between $(50) million and $(40) million[39]