Opendoor Technologies Inc Stock Price, News & Analysis

Opendoor Technologies Inc. (Nasdaq: OPEN) reported robust Q2 2021 results, with revenue soaring to $1.2 billion, up 59% from the previous quarter. The company acquired a record 8,494 homes, a 136% increase, and delivered adjusted EBITDA of $26 million, a significant recovery from a loss last quarter. Gross profit reached $159 million, marking a 64% rise. Opendoor’s outlook for Q3 2021 anticipates revenue between $1.8 billion and $1.9 billion, indicating strong momentum in the real estate sector.

On July 26, 2021, Opendoor Technologies Inc. (Nasdaq: OPEN) announced the completion of the redemption of all outstanding Public Warrants at a price of $0.10 each, triggered by the Common Stock's reference value exceeding $10.00 per share for twenty trading days. Approximately 97% of 13,799,947 Public Warrants were exercised, generating over $22 million in cash proceeds. Concurrently, 100% of the Private Warrants were also exercised. Following the redemption, Public Warrants were delisted from Nasdaq, while Common Stock remains unaffected and continues trading under symbol 'OPEN.'

Opendoor Technologies Inc. (Nasdaq: OPEN) will report its second quarter 2021 financial results on August 11, 2021, after market close. Following the release, management will host a conference call at 2:00 p.m. PT to discuss the results. This call will be accessible via a live webcast on the investor relations site. Opendoor aims to revolutionize real estate transactions, offering an innovative platform for buying, selling, or trading homes across the U.S. More details can be found on their official website.

Opendoor Technologies Inc. (Nasdaq: OPEN) announced the redemption of all outstanding Public and Private Warrants to purchase shares of its Common Stock. The redemption price is set at $0.10 per Warrant, effective July 9, 2021. This move is triggered as the last sales price of the Common Stock is less than $18.00. Holders can exercise Warrants at $11.50 per share or on a cashless basis. Unexercised Warrants will become void post-redemption. The Company emphasizes that it does not provide recommendations regarding exercising the Warrants.

Opendoor Technologies Inc. (Nasdaq: OPEN) reported remarkable growth in Q1 2021, with Total Homes Sold reaching 2,462, a 190% increase compared to Q4 2020. Total Revenue hit $747 million, up 200% year-over-year. GAAP Gross Profit stood at $97 million, reflecting 13% of Total Revenue. CEO Eric Wu highlighted the company's strong momentum and customer satisfaction, with an NPS over 80. Opendoor exceeded its Q1 guidance and achieved record metrics in offer requests and market launches.

Opendoor Technologies Inc. (Nasdaq: OPEN) announced it will report its first-quarter 2021 financial results on May 11, 2021, after market close. The company will hold a conference call at 2:00 p.m. PT (5:00 p.m. ET) to discuss the results. Opendoor has been a significant player in the digital residential real estate market since its inception in 2014, offering simplified buying, selling, and trading services for homes across the U.S. For further details, the live webcast will be available on the investor relations page of Opendoor's website.

Opendoor Technologies Inc. (Nasdaq: OPEN) has reported strong financial results for Q4 and full-year 2020, exceeding prior forecasts. The company achieved $248.9 million in Q4 revenue despite selling 849 homes, down from 5,013 in the previous year. Full-year revenue was $2,583.1 million, a decline from $4,740.6 million in 2019. Positive highlights include a gross profit margin of 15.4% in Q4 and plans to expand to 42 markets. The company expects Q1 2021 revenues between $600 million and $625 million, marking a 146% growth from Q4 2020.

Opendoor Technologies announced an upsized follow-on public offering of 28,536,888 shares priced at $27 per share, totaling approximately $770 million in gross proceeds. This offering increases from a previously announced 24 million shares. The closing is expected by February 9, 2021, subject to customary conditions. Underwriters have an option to purchase an additional 4,280,533 shares. Citigroup and Goldman Sachs are managing the offering, with SEC registration effective as of February 4, 2021.

Opendoor Technologies Inc. (Nasdaq: OPEN) will announce its fourth quarter and full year 2020 financial results on March 4, 2021, after market close. Following the announcement, management will conduct a conference call at 2:00 p.m. PT (5:00 p.m. ET) to discuss the results and provide a business update. The call will be accessible via a live webcast on the investor relations website.

The company, founded in 2014, aims to simplify the home buying and selling process across the U.S.