Opendoor Technologies reports Q2 mixed earnings; sees Q3 revenue guidance below estimates

Aug. 04, 2022 4:22 PM ETOpendoor Technologies Inc. (OPEN)By: Meghavi Singh, SA News Editor90 Comments
  • Opendoor Technologies press release (NASDAQ:OPEN): Q2 GAAP EPS of -$0.09 misses by $0.12.
  • Revenue of $4.2B (+250.0% Y/Y) beats by $10M.
  • Contribution Margin of 10.1%, versus 10.8% in 2Q21.
  • Adjusted EBITDA of $218 million, versus $25 million in 2Q21; Adjusted EBITDA Margin of 5.2%, versus 2.2% in 2Q21.
  • Inventory balance of 17,013 homes, representing $6.6 billion in value, up 143% versus 2Q21.
  • Purchased 14,135 homes, up 66% versus 2Q21.
  • Outlook: 3Q22 revenue guidance of $2.2 billion to $2.6 billion vs. consensus of $4.26B; 3Q22 Adjusted EBITDA guidance of $(175) million to $(125) million.

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