Opendoor Technologies (OPEN) Revenue — Quarter Ended Jun 30, 2023
Revenue declined in the current quarter compared to both the prior quarter and the same quarter a year ago. The decrease from the preceding quarter was less severe than the drop from the prior year's same period.
Key takeaway
Quarter ended Jun 30, 2023 · FY2023 Q2
Revenue declined in the current quarter compared to both the prior quarter and the same quarter a year ago. The decrease from the preceding quarter was less severe than the drop from the prior year's same period.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$2B
Revenue reported for this quarter.
Quarter-over-quarter
-36.7%
Change from the immediately preceding quarter.
Year-over-year
-52.9%
Change from the comparable year-ago quarter.
Trailing four quarters
$11.3B
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 |
|---|---|---|
| Sep 30, 2022 | $3.4B | +48.3% |
| Dec 31, 2022 | $2.9B | -25.2% |
| Mar 31, 2023 | $3.1B | -39.4% |
| Jun 30, 2023 | $2B | -52.9% |
Revenue performance
The reported revenue for the quarter was lower than the immediately preceding quarter, continuing a downward trend observed over recent periods.
Quarterly comparison
Compared to the same quarter one year earlier, revenue was substantially lower. The decline from the prior quarter was more moderate than the year-over-year drop.
What to watch
The filing notes that macroeconomic factors such as rising inflation and interest rate increases may continue to obscure seasonal patterns in financial results.