Opendoor Technologies (OPEN) Revenue — Quarter Ended Jun 30, 2024
Revenue increased compared to the prior quarter, reversing the declining trend seen in recent periods. However, revenue remained below the level reported in the same quarter one year earlier.
Key takeaway
Quarter ended Jun 30, 2024 · FY2024 Q2
Revenue increased compared to the prior quarter, reversing the declining trend seen in recent periods. However, revenue remained below the level reported in the same quarter one year earlier.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$1.5B
Revenue reported for this quarter.
Quarter-over-quarter
+27.9%
Change from the immediately preceding quarter.
Year-over-year
-23.5%
Change from the comparable year-ago quarter.
Trailing four quarters
$4.5B
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 |
|---|---|---|
| Sep 30, 2023 | $980M | -70.8% |
| Dec 31, 2023 | $870M | -69.5% |
| Mar 31, 2024 | $1.2B | -62.1% |
| Jun 30, 2024 | $1.5B | -23.5% |
Revenue performance
The reported revenue for the quarter was higher than the immediately preceding quarter, marking a positive sequential change.
Quarterly comparison
Compared to the same quarter one year ago, revenue was lower, reflecting a year-over-year decline. The sequential improvement contrasts with the prior year comparison.
What to watch
The filing notes that macroeconomic factors such as inflation and interest rate changes may continue to obscure seasonal patterns in financial results.