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Opendoor Technologies | 10-Q: Q1 2024 Earnings Report

Opendoor Technologies | 10-Q: Q1 2024 Earnings Report

Opendoor Technologies | 10-Q：2024财年一季报
美股sec公告 ·  05/02 16:23
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Opendoor Technologies Inc. has reported a significant decrease in revenue and home sales in the first quarter of 2024 compared to the same period in 2023. Revenue dropped from $3.12 billion to $1.18 billion, a 62% decline, while home sales fell by 63% from 8,274 to 3,078 homes sold. Despite the decrease in revenue and sales volume, gross margin improved from 5.4% to 9.7%, and net loss increased marginally from $101 million to $109 million. The company's inventory also saw a reduction, with homes in inventory decreasing by 555 to 5,706. Opendoor attributes the lower sales volumes to a strategic reduction in inventory acquisition and marketing investment in response to market volatility. The company has continued to expand its market presence, launching partnerships with Zillow and eXp Realty, and aims to grow by increasing market share and brand awareness. Opendoor's future plans include driving growth through market share gains, investing in adjacent services, and improving unit economics through various initiatives. The company remains focused on managing inventory effectively and maintaining financial flexibility in the face of a challenging housing market environment.
Opendoor Technologies Inc. has reported a significant decrease in revenue and home sales in the first quarter of 2024 compared to the same period in 2023. Revenue dropped from $3.12 billion to $1.18 billion, a 62% decline, while home sales fell by 63% from 8,274 to 3,078 homes sold. Despite the decrease in revenue and sales volume, gross margin improved from 5.4% to 9.7%, and net loss increased marginally from $101 million to $109 million. The company's inventory also saw a reduction, with homes in inventory decreasing by 555 to 5,706. Opendoor attributes the lower sales volumes to a strategic reduction in inventory acquisition and marketing investment in response to market volatility. The company has continued to expand its market presence, launching partnerships with Zillow and eXp Realty, and aims to grow by increasing market share and brand awareness. Opendoor's future plans include driving growth through market share gains, investing in adjacent services, and improving unit economics through various initiatives. The company remains focused on managing inventory effectively and maintaining financial flexibility in the face of a challenging housing market environment.
Opendoor Technologies Inc.报告称，与2023年同期相比，2024年第一季度营业收入和房屋销售量均显著下降。营业收入从31.2亿美元下降至11.8亿美元，下降了62％，而房屋销售量从8,274套下降到3,078套，下降了63％。尽管营业收入和销售额下降，但毛利率从5.4％提高到9.7％，净亏损略有增加，从10100万美元增加到10900万美元。该公司的库存量也有所减少，存货从5,261套减少到5,706套。Opendoor认为销售量下降是对市场波动做出战略性减少库存采购和营销投资的回应。该公司继续扩大市场份额，与Zillow和eXp Realty合作伙伴关系，并通过增加市场份额和品牌知名度来实现增长。Opendoor未来的计划包括通过市场份额的增长、投资邻近服务以及通过各种举措改进单位经济效益来推动增长。该公司仍专注于有效管理库存，并在面对具有挑战性的住房市场环境时保持财务灵活性。
Opendoor Technologies Inc.报告称，与2023年同期相比，2024年第一季度营业收入和房屋销售量均显著下降。营业收入从31.2亿美元下降至11.8亿美元，下降了62％，而房屋销售量从8,274套下降到3,078套，下降了63％。尽管营业收入和销售额下降，但毛利率从5.4％提高到9.7％，净亏损略有增加，从10100万美元增加到10900万美元。该公司的库存量也有所减少，存货从5,261套减少到5,706套。Opendoor认为销售量下降是对市场波动做出战略性减少库存采购和营销投资的回应。该公司继续扩大市场份额，与Zillow和eXp Realty合作伙伴关系，并通过增加市场份额和品牌知名度来实现增长。Opendoor未来的计划包括通过市场份额的增长、投资邻近服务以及通过各种举措改进单位经济效益来推动增长。该公司仍专注于有效管理库存，并在面对具有挑战性的住房市场环境时保持财务灵活性。
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