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Opendoor Technologies | 10-Q: Q2 2024 Earnings Report

Opendoor Technologies | 10-Q: Q2 2024 Earnings Report

Opendoor Technologies | 10-Q：2024财年二季报
美股SEC公告 ·  2024/08/02 04:27

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Opendoor Technologies reported Q2 2024 revenue of $1.51 billion, down 24% year-over-year, with a net loss of $92 million compared to a net income of $23 million in Q2 2023. The company sold 4,078 homes during the quarter, a 24% decrease from 5,383 homes in the prior year period, while gross margin improved to 8.5% from 7.5%.The company's financial position remained stable with $790 million in cash and cash equivalents, though total cash and restricted cash decreased by $629 million during the first half of 2024. Real estate inventory stood at $2.23 billion as of June 30, with 6,399 homes in inventory. The company maintained $4.9 billion in undrawn borrowing capacity under its non-recourse asset-backed debt facilities.Management noted that the housing market remains challenging due to elevated mortgage rates and low listing volumes. The company has focused on optimizing performance through dynamic spread setting and risk management, while expanding reach through partnerships with major platforms like Zillow and Redfin. Contribution margin improved significantly to 6.3% from -4.6% year-over-year, reflecting higher spreads and relative home price stabilization.
Opendoor Technologies reported Q2 2024 revenue of $1.51 billion, down 24% year-over-year, with a net loss of $92 million compared to a net income of $23 million in Q2 2023. The company sold 4,078 homes during the quarter, a 24% decrease from 5,383 homes in the prior year period, while gross margin improved to 8.5% from 7.5%.The company's financial position remained stable with $790 million in cash and cash equivalents, though total cash and restricted cash decreased by $629 million during the first half of 2024. Real estate inventory stood at $2.23 billion as of June 30, with 6,399 homes in inventory. The company maintained $4.9 billion in undrawn borrowing capacity under its non-recourse asset-backed debt facilities.Management noted that the housing market remains challenging due to elevated mortgage rates and low listing volumes. The company has focused on optimizing performance through dynamic spread setting and risk management, while expanding reach through partnerships with major platforms like Zillow and Redfin. Contribution margin improved significantly to 6.3% from -4.6% year-over-year, reflecting higher spreads and relative home price stabilization.
Opendoor Technologies报告2024年第二季度营业收入为15.1亿美元，同比下降24%，净亏损为9200万美元，而2023年第二季度的净利润为2300万美元。该公司在本季度售出了4,078套房屋，比去年同期的5,383套下降了24%，毛利率从7.5%提高至8.5%。公司的财务状况保持稳定，现金及现金等价物为79000万美元，尽管2024年上半年总现金和受限现金减少了62900万美元。截止6月30日，房地产业库存为22.3亿美元，库存中有6,399套房屋。该公司在非追索资产担保债务工具下保持了49亿美元的未提取借款能力。管理层指出，由于抵押贷款利率高企和上市数量低，住房市场仍然面临挑战。该公司专注于通过动态利差设定和风险管理来优化业绩，同时通过与Zillow和Redfin等主要平台的合作扩展市场。贡献毛利率显著改善，从同比-4.6%提高至6.3%，反映出更高的利差和相对房价的稳定。
Opendoor Technologies报告2024年第二季度营业收入为15.1亿美元，同比下降24%，净亏损为9200万美元，而2023年第二季度的净利润为2300万美元。该公司在本季度售出了4,078套房屋，比去年同期的5,383套下降了24%，毛利率从7.5%提高至8.5%。公司的财务状况保持稳定，现金及现金等价物为79000万美元，尽管2024年上半年总现金和受限现金减少了62900万美元。截止6月30日，房地产业库存为22.3亿美元，库存中有6,399套房屋。该公司在非追索资产担保债务工具下保持了49亿美元的未提取借款能力。管理层指出，由于抵押贷款利率高企和上市数量低，住房市场仍然面临挑战。该公司专注于通过动态利差设定和风险管理来优化业绩，同时通过与Zillow和Redfin等主要平台的合作扩展市场。贡献毛利率显著改善，从同比-4.6%提高至6.3%，反映出更高的利差和相对房价的稳定。
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