Opendoor Technologies Inc. stock research
FY2025 Q1
Opendoor Technologies (OPEN) Gross Margin — Quarter Ended Mar 31, 2025
Revenue and gross profit increased from the prior quarter, while cost of revenue also rose, leading to an improved gross margin. Compared to the same quarter last year, revenue was similar, but gross profit was lower, resulting in a weakened gross margin.
Gross margin takeaway
Quarter ended Mar 31, 2025 · FY2025 Q1
Revenue and gross profit increased from the prior quarter, while cost of revenue also rose, leading to an improved gross margin. Compared to the same quarter last year, revenue was similar, but gross profit was lower, resulting in a weakened gross margin.
- The strongest observable margin driver is the sequential increase in gross profit relative to revenue, which supported a higher gross margin.
- Compared to the prior quarter, gross margin improved. Compared to the same quarter one year ago, gross margin weakened.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
8.6%
Gross profit
$99.0M
Revenue
$1.2B
Cost of revenue
$1.1B
Quarter-over-quarter change
+0.7 pts
Year-over-year change
-1.1 pts
Quarterly gross margin trend
A four-quarter view of the revenue and direct-cost bridge behind gross margin.
| Period | Revenue | Gross profit | Cost of revenue | Gross margin |
|---|---|---|---|---|
| Jun 30, 2024 | $1.5B | $129.0M | $1.4B | 8.5% |
| Sep 30, 2024 | $1.4B | $105.0M | $1.3B | 7.6% |
| Dec 31, 2024 | $1.1B | $85.0M | $999.0M | 7.8% |
| Mar 31, 2025 | $1.2B | $99.0M | $1.1B | 8.6% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Dec 31, 2024
+0.7 pts
Year-over-year change
Mar 31, 2024
-1.1 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The strongest observable margin driver is the sequential increase in gross profit relative to revenue, which supported a higher gross margin.
Compared to the prior quarter, gross margin improved. Compared to the same quarter one year ago, gross margin weakened.
Monitor the impact of seasonal trends and macroeconomic conditions on gross margin, as referenced in the company's filing.