Opendoor Technologies (OPEN) Revenue — Quarter Ended Mar 31, 2023
Revenue for the quarter increased compared to the immediately preceding quarter. However, revenue declined sharply compared to the same quarter one year earlier.
Key takeaway
Quarter ended Mar 31, 2023 · FY2023 Q1
Revenue for the quarter increased compared to the immediately preceding quarter. However, revenue declined sharply compared to the same quarter one year earlier.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$3.1B
Revenue reported for this quarter.
Quarter-over-quarter
+9.2%
Change from the immediately preceding quarter.
Year-over-year
-39.4%
Change from the comparable year-ago quarter.
Trailing four quarters
$13.5B
Sum of the latest four reported quarters.
Quarterly revenue trend
The latest four reported quarters with year-over-year comparisons.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Jun 30, 2022 | $4.2B | +254.0% |
| Sep 30, 2022 | $3.4B | +48.3% |
| Dec 31, 2022 | $2.9B | -25.2% |
| Mar 31, 2023 | $3.1B | -39.4% |
Revenue performance
The reported revenue rose from the prior quarter, reversing the sequential decline seen in the previous period. The year-over-year comparison shows a substantial contraction, reflecting a significant drop from the same quarter last year.
Quarterly comparison
Compared to the immediately preceding quarter, revenue improved. Compared to the same quarter one year earlier, revenue was markedly lower.
What to watch
The filing notes that macroeconomic factors such as rising inflation and interest rates may continue to obscure seasonal patterns in financial results.