All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking, including statements regarding the health of our financial condition anticipated future results of operations and financial performance priorities of the Company to achieve future goals the Company’s ability to continue to effectively navigate the markets in which it operates anticipated future and ongoing impacts of our acquisitions and other business decisions health of our balance sheet to weather ongoing market transitions the Company’s ability to adopt an effective approach to manage economic and industry risk, as well as inventory health business strategy and plans, including any plans to expand into additional markets, market opportunity and expansion and objectives of management for future operations, including our statements regarding the benefits and timing of the roll out of new markets, products or technology and the expected diversification of funding sources. This press release contains certain forward-looking statements within the meaning of Section 27A the Private Securities Litigation Reform Act of 1995, as amended. Opendoor currently operates in a growing number of markets nationwide.įor more information, please visit Forward Looking Statements with a simple way to buy and sell a home. Since 2014, Opendoor has provided people across the U.S. Opendoor’s mission is to power life’s progress, one move at a time. An archived version of the webcast will be available from the same website after the call. A live webcast of the call can be accessed from Opendoor’s Investor Relations website at. Opendoor will host a conference call to discuss its financial results on May 4, 2023, at 2:00 p.m. 2Q23 Adjusted EBITDA 1 guidance of $(180) million to $(200) million.2Q23 revenue guidance of $1.75 billion to $1.85 billion.Ended the quarter with 1,137 homes under contract for purchase, down (86)% versus 1Q22.Purchased 1,747 homes, down (81)% versus 1Q22.Inventory balance of $2.1 billion, representing 6,261 homes, down (55)% versus 1Q22.Adjusted EBITDA of $(341) million, versus $176 million in 1Q22 Adjusted EBITDA Margin of (10.9)%, versus 3.4% in 1Q22.Contribution (Loss) Profit of $(241) million, versus $332 million in 1Q22 Contribution Margin of (7.7)%, versus 6.4% in 1Q22.Adjusted Net (Loss) income of $(409) million, versus $99 million in 1Q22.Net (loss) income of $(101) million, versus $28 million in 1Q22. ![]() ![]()
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