Business
Opendoor Announces First Quarter 2021 Financial Results
Total Homes Sold of 2,462, up 190% versus 4Q20Total Homes Purchased of 3,594, up 78% versus 4Q20Total Revenue of $747 million, up 200% versus 4Q20GAAP Gross
About this update from Opendoor Technologies Inc
[{"type":"text","content":"Total Homes Sold of 2,462, up 190% versus 4Q20Total Homes Purchased of 3,594, up 78% versus 4Q20Total Revenue of $747 million, up 200% versus 4Q20GAAP Gross Profit of $97 million, or 13% of Total Revenue SAN FRANCISCO, May 11, 2021 (GLOBE NEWSWIRE) -- Opendoor Technologies Inc. (Nasdaq: OPEN), a leading digital platform for residential real estate, today reported financial results for its quarter ended March 31, 2021. Opendoor’s First Quarter 2021 financial results and management commentary can be accessed through the Company’s shareholder letter on the quarterly results page of Opendoor’s investor relations website at https://investor.opendoor.com. “We are relentless in our pursuit of making it possible to buy, sell, and move at the tap of a button,” said Eric Wu, Co-Founder and CEO of Opendoor. “We exceeded our guidance for Q1 and are experiencing strong momentum as we look forward to the rest of the year. This quarter marked a number of record firsts for us - offer requests, conversion of real sellers and number of market launches. And we did this with an NPS north of 80 from our sellers, reminding us that customers love what we are building. While we are proud of these results, we are energized and focused on the opportunities ahead of us.” Conference Call and Webcast Details Opendoor will host a conference call to discuss its financial results on May 11, 2021 at 2:00 p.m. Pacific Time. A live webcast of the call can be accessed from Opendoor’s Investor Relations website at https://investor.opendoor.com. An archived version of the webcast will be available from the same website after the call. Forward Looking Statements This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking, including statements regarding our financial condition, anticipated financial performance, business strategy and plans, market opportunity and expansion and objectives of management for future operations. These forward-looking statements generally are identified by the words “anticipate”, “believe”, “contemplate”, “continue”, “could”, “estimate”, “expect”, “forecast”, “future”, “intend”, “may”, “might”, “opportunity”, “plan”, “po...