Opendoor Sees 29% Drop in Home Sales, Expects 45% Revenue Decline
Opendoor sold 2,568 homes last quarter, down 29% year-on-year, and reported $915 million in revenue, down 33.6% year-on-year, missing operating income and EBITDA targets. Analysts forecast Q4 revenue of $595 million (down 45.1% year-on-year) and an adjusted loss per share of $0.09.
1. Last Quarter Results
Opendoor sold 2,568 homes in the last quarter, a 29% year-on-year decline, and generated $915 million in revenue, 33.6% below prior-year figures. The company missed analysts’ adjusted operating income and EBITDA estimates, signaling challenges in cost management and margins.
2. Q4 Forecasts
Analysts project Q4 revenue of $595 million, a 45.1% year-on-year decrease, and an adjusted loss of $0.09 per share. These figures contrast with the prior year’s 24.6% revenue gain and reflect slowing demand in the housing market.
3. Peer Comparison and Stock Movement
In the real estate services segment, Marcus & Millichap reported 1.6% revenue growth and Zillow saw 18.1% growth, while Opendoor’s shares have fallen 32.6% over the past month. Opendoor’s average analyst price target of $4.33 closely matches its current share price.