Opendoor (OPEN) Reports Q4 Loss of $0.49/sh, Sees Q1 Revenue Increase

Opendoor (NASDAQ: OPEN) reported Q4 EPS of ($0.49), versus ($1.11) reported last year. Revenue for the quarter came in at $248.9 million versus the consensus estimate of $243.94 million.

GUIDANCE:

Opendoor sees Q1 2021 revenue of $600-625 million, versus the consensus of $468.9 million.

• For the first quarter of 2021, Total Revenue is expected to be between $600 million and $625 million, which represents 146% sequential growth over Q4 2020 at the midpoint of the expected range. This first fiscal quarter is expected to mark a return to sequential revenue growth across existing markets with strong and increasing demand for Opendoor’s service and an accelerating pace of home acquisitions. The Company expects to launch six new markets in Q1.
• Adjusted EBITDA1 is expected to be between $(33) million and $(28) million, which represents Adjusted EBITDA margins of (5)% at the midpoint of the expected range.

For earnings history and earnings-related data on Opendoor (OPEN) click here.

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