Opendoor Technologies (OPEN) Revenue — Quarter Ended Sep 30, 2024
Revenue declined from the prior quarter but rose sharply compared with the same quarter a year ago. The sequential decrease reflects a typical seasonal slowdown, while the year-over-year gain indicates a strong recovery from the prior year's low base.
Key takeaway
Quarter ended Sep 30, 2024 · FY2024 Q3
Revenue declined from the prior quarter but rose sharply compared with the same quarter a year ago. The sequential decrease reflects a typical seasonal slowdown, while the year-over-year gain indicates a strong recovery from the prior year's low base.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$1.4B
Revenue reported for this quarter.
Quarter-over-quarter
-8.9%
Change from the immediately preceding quarter.
Year-over-year
+40.5%
Change from the comparable year-ago quarter.
Trailing four quarters
$4.9B
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, 2023 | $870M | -69.5% |
| Mar 31, 2024 | $1.2B | -62.1% |
| Jun 30, 2024 | $1.5B | -23.5% |
| Sep 30, 2024 | $1.4B | +40.5% |
Revenue performance
Reported revenue moved lower from the immediately preceding quarter, marking a sequential contraction. However, compared with the same quarter one year earlier, revenue posted a substantial increase.
Quarterly comparison
The quarter's revenue was below the prior quarter's level, continuing the pattern of sequential declines seen in recent periods. On a year-over-year basis, revenue reversed the prior year's deep decline and showed strong growth.
What to watch
Monitor whether the sequential revenue decline deepens in the next quarter, given the seasonal pattern and macroeconomic uncertainties noted in the filing.