Opendoor Technologies (OPEN) Revenue — Quarter Ended Mar 31, 2024
Revenue increased compared to the immediately preceding quarter, but declined sharply from the same quarter one year earlier. The sequential improvement marks a reversal from the prior downward trend.
Key takeaway
Quarter ended Mar 31, 2024 · FY2024 Q1
Revenue increased compared to the immediately preceding quarter, but declined sharply from the same quarter one year earlier. The sequential improvement marks a reversal from the prior downward trend.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$1.2B
Revenue reported for this quarter.
Quarter-over-quarter
+35.7%
Change from the immediately preceding quarter.
Year-over-year
-62.1%
Change from the comparable year-ago quarter.
Trailing four quarters
$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, 2023 | $2B | -52.9% |
| Sep 30, 2023 | $980M | -70.8% |
| Dec 31, 2023 | $870M | -69.5% |
| Mar 31, 2024 | $1.2B | -62.1% |
Revenue performance
The reported revenue direction is upward relative to the prior quarter, reflecting a sequential gain. However, on a year-over-year basis, revenue remained significantly lower.
Quarterly comparison
Compared with the immediately preceding quarter, revenue rose. Compared with the same quarter one year earlier, revenue was substantially lower.
What to watch
The filing notes that seasonality in the residential real estate market may be obscured by macroeconomic factors such as inflation and interest rate changes.