Opendoor Technologies Inc. reported fourth-quarter 2024 revenue of $1.08 billion, marking a 24.6% increase year-over-year, and a GAAP Net Loss of $(113) million, or $(0.16) per share. For the full year 2024, revenue was $5.15 billion, a 26% decrease from 2023, with a GAAP Net Loss of $(375) million.
The company's Adjusted Net Loss for Q4 2024 was $(77) million, and Adjusted EBITDA Loss was $(49) million. CEO Carrie Wheeler emphasized decisive actions taken in 2024 to streamline operations and optimize the cost structure, which led to significantly reduced Adjusted Net Losses for the year.
Opendoor sold 2,822 homes and purchased 2,951 homes in Q4 2024. For the first quarter of 2025, the company projects revenue between $1.0 billion and $1.075 billion, and an Adjusted EBITDA Loss between $(40) million and $(30) million.
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