Opendoor Technologies reported Q2 2025 revenue of $1.6 billion, gross profit of $128 million, and a net loss of $29 million. The company has an inventory of 4,538 homes valued at $1.5 billion and purchased 1,757 homes, a decline from previous quarters. Opendoor expects Q3 revenue to be between $800 million to $875 million, reflecting a 36% decrease from last year, attributed to high mortgage rates deterring home buyers. Additionally, the lack of information on the new 'Product to Platform' business model contributed to investor uncertainty following the earnings report.
Opendoor reported Q2 2025 revenue of $1.6 billion, a gross profit of $128 million, and a net loss of $29 million. The company’s inventory includes 4,538 homes valued at $1.5 billion.
Opendoor expects Q3 revenue of $800 million to $875 million, indicating a 36% decline compared to the same period last year, reflecting the current challenging home-buying environment.
The company's stock plummeted over 20% due to disappointing revenue guidance and a lack of detailed information on its new 'Product to Platform' business model.
CEO Carrie A. Wheeler highlighted the shift to a distributed platform with multiple offerings delivered through agents, introducing uncertainty as the company changes its business model.
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