Opendoor Tech | 10-Q: FY2025 Q2 Revenue Beats Estimate at USD 1.567 B

LB filings
2025.08.05 20:25
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Revenue: As of FY2025 Q2, the actual value is USD 1.567 B, beating the estimate of USD 1.503 B.

EPS: As of FY2025 Q2, the actual value is USD -0.04, missing the estimate of USD -0.0311.

EBIT: As of FY2025 Q2, the actual value is USD -29 M.

Segment Revenue

  • Revenue: For the three months ended June 30, 2025, revenue was $1,567 million, a 4% increase from $1,511 million in the same period in 2024. For the six months ended June 30, 2025, revenue was $2,720 million, a 1% increase from $2,692 million in the same period in 2024.

Operational Metrics

  • Net Loss: The net loss for the three months ended June 30, 2025, was $29 million, compared to a net loss of $92 million for the same period in 2024. For the six months ended June 30, 2025, the net loss was $114 million, compared to $201 million in the same period in 2024.
  • Gross Profit: Gross profit for the three months ended June 30, 2025, was $128 million, with a gross margin of 8.2%, compared to $129 million and a gross margin of 8.5% for the same period in 2024. For the six months ended June 30, 2025, gross profit was $227 million, with a gross margin of 8.3%, compared to $243 million and a gross margin of 9.0% in the same period in 2024.

Cash Flow

  • Operating Cash Flow: Net cash provided by operating activities was $544 million for the six months ended June 30, 2025, compared to net cash used in operating activities of $577 million for the same period in 2024.
  • Free Cash Flow: Not explicitly stated, but the net increase in cash, cash equivalents, and restricted cash was $422 million for the six months ended June 30, 2025.

Unique Metrics

  • Homes Sold: 4,299 homes were sold in the three months ended June 30, 2025, compared to 4,078 homes in the same period in 2024. For the six months ended June 30, 2025, 7,245 homes were sold, compared to 7,156 homes in the same period in 2024.
  • Homes Purchased: 1,757 homes were purchased in the three months ended June 30, 2025, compared to 4,771 homes in the same period in 2024. For the six months ended June 30, 2025, 5,366 homes were purchased, compared to 8,229 homes in the same period in 2024.

Future Outlook and Strategy

  • Core Business Focus: The company is committed to a flexible and data-driven approach to managing its business, dynamically adjusting pricing strategies to balance growth, margin, and risk. The company has increased its spread levels in response to market uncertainty and is expanding its agent-led distribution channel and capital-light product initiatives.
  • Non-Core Business: The company is building an online, integrated suite of home services, which currently includes title insurance, escrow services, and real estate brokerage services, and expects to invest in additional adjacent products and services over time.
Source: LB filings The copyright of this article belongs to the original author/organization.
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