Opendoor Technologies (OPEN) Revenue — Quarter Ended Sep 30, 2023
Revenue declined sharply in the current quarter. The decrease was steeper than the prior quarter and significantly larger than the same quarter one year earlier.
Key takeaway
Quarter ended Sep 30, 2023 · FY2023 Q3
Revenue declined sharply in the current quarter. The decrease was steeper than the prior quarter and significantly larger than the same quarter one year earlier.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$980M
Revenue reported for this quarter.
Quarter-over-quarter
-50.4%
Change from the immediately preceding quarter.
Year-over-year
-70.8%
Change from the comparable year-ago quarter.
Trailing four quarters
$8.9B
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 |
|---|---|---|
| Dec 31, 2022 | $2.9B | -25.2% |
| Mar 31, 2023 | $3.1B | -39.4% |
| Jun 30, 2023 | $2B | -52.9% |
| Sep 30, 2023 | $980M | -70.8% |
Revenue performance
Reported revenue moved downward compared to the immediately preceding quarter. The year-over-year comparison also showed a substantial decline.
Quarterly comparison
Revenue was lower than both the prior quarter and the same quarter one year ago. The sequential decline was less severe 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.