Investor relations. Announces Proposed Public Offering of Common Stock. Management will host a conference call at 2:00 p.m. Pacific Time today to discuss its operating results, which can be accessed on its investor relations website at https://investor.opendoor.com. ... That’s because OPEN hides three key flaws behind its slick investor relations … Management uses these non-GAAP financial measures for financial and operational decision-making and as a means to evaluate period-to-period comparisons. HousingWire – 12/14/2020. Opendoor is funded by 64 investors. An archived version of the webcast will be available from the same website after the call. Statement of changes in beneficial ownership of securities, Opendoor Fourth Quarter 2020 Earnings Conference Call, Opendoor Announces Fourth Quarter and Full Year 2020 Results, Opendoor Technologies Inc. With over 10 years of creating top-tier guest experiences at companies like Sixthman and The Zac Brown Collective, Mike is the perfect candidate for keeping our investors excited, informed, looked after, and appreciated. Homes Are Selling Fast in DFW. Investor Relations; Lennar Corporation profile; Products & Services. _____________________________1 Opendoor has not provided a quantitative reconciliation of forecasted Adjusted EBITDA to forecasted GAAP net income (loss) within this press release because the Company is unable, without making unreasonable efforts, to calculate certain reconciling items with confidence. Sign up for a free trial to view exact valuation and search companies with similar … Management will host a conference call at 2:00 p.m. Pacific Time today to discuss its operating results, which can be accessed on its investor relations website at https://investor.opendoor.com. The absence of these words does not mean that a statement is not forward-looking. Opendoor currently operates in a growing number of cities and neighborhoods across the country. About Opendoor Opendoor’s mission is to empower everyone with the freedom to move. com About Opendoor As we reflect on Q4 and enter 2021, this focus has resulted in increasing business momentum. : As the Head of Investor Relations, you will be responsible for strategically positioning Opendoor with analysts, investors and stakeholders…As Head of Investor Relations, you will: Develop framework that clearly articulates both current performance and long-term strategy Work closely with the CFO and senior team in order to deeply understand… They’re also obscuring financials from regular investors. Since 2014, Opendoor has provided people across the U.S. with a radically simple way to buy, sell or trade-in a home online. Opendoor Financial organizations accumulate a number of disparate products, systems, and technologies over time, whether a result of mergers and acquisitions or internal investment. In April, it laid off a third of its employees. We believe in simplifying your homebuying experience by including everything you need in a new home and community. We have rebuilt the entire consumer real estate experience and have made buying and selling possible on a mobile device. Gross Profit per Home Sold was $22,173 compared to 2019 Gross Profit per Home Sold of $16,025. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. OpenDoor has raised a total of $150K in funding over 1 round. In fact, I think it’s heading for a blow-up Opendoor currently operates in 20 markets in the US and expects to be in 50 cities by the end of 2020. The Investor Relations website contains information about Opendoor Technologies Inc.'s business for stockholders, potential investors, and financial analysts. About OpendoorOpendoor’s mission is to empower everyone with the freedom to move. Replay: An archived webcast of the conference call will be available on Opendoor’s investor relations website for one year following the live call at https://investor.opendoor.com About Opendoor Use of Non-GAAP Financial MeasuresTo provide investors with additional information regarding the Company’s financial results, this press release includes references to certain non-GAAP financial measures that are used by management. For the fourth quarter, Total Homes Sold was 849, as compared to 5,013 for the prior year period, and Total Revenue was $248.9 million, as compared to $1,255.7 million for the prior year period. Learn more about the Head Of Investor Relations position now! : As the Head of Investor Relations, you will be responsible for strategically positioning Opendoor with analysts, investors and stakeholders…As Head of Investor Relations, you will: Develop framework that clearly articulates both current performance and long-term strategy Work closely with the CFO and senior team in order to deeply understand… Management believes that these non-GAAP financial measures provide meaningful supplemental information regarding the Company’s performance by excluding certain items that may not be indicative of the Company’s recurring operating results. More customers are coming to us and choosing Opendoor than ever before, we are seeing healthy margins, and we plan on doubling our footprint to 42 markets. Opendoor currently operates in a growing number of markets across the U.S. Investors: Whitney Kukulka The Blueshirt Group investors@opendoor.com That’s because OPEN hides three key flaws behind its slick investor relations presentations. Whether it’s getting married, starting a family, taking a new job or simply making a life change, we help people get to their next chapter in one simple, seamless transaction. Investor Name: Name of the investor who participated in … Many important factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to our public securities’ potential liquidity and trading; our ability to raise financing in the future; our success in retaining or recruiting, or changes required in, our offices, key employees or directors; the impact of the regulatory environment and complexities with compliance related to such environment; our ability to remediate our material weakness; various factors relating to our business, operations and financial performance, including, but not limited to, the impact of the COVID-19 pandemic and our ability to grow market share; our ability to respond to general economic conditions and the health of the U.S. residential real estate industry. Announces Upsize and Pricing of its Follow-On Public Offering of Common Stock, Opendoor Technologies Inc. For more information regarding the non-GAAP financial measures discussed in this press release, please see “Use of Non-GAAP Financial Measures” below. Net Income (Loss) and Adjusted EBITDANet Income (Loss) and Adjusted EBITDA improvement year-over-year was due to improved Contribution Margin performance and prudent operating expense controls put in place as the Company managed through the uncertainty of COVID-19. Replay: An archived webcast of the conference call will be available on Opendoor’s investor relations website for one year following the live call at https://investor.opendoor. Not only are they hiding a toxic business model from customers. The non-GAAP financial measures should not be considered in isolation or as a substitute for the Company’s reported GAAP results because they may include or exclude certain items as compared to similar GAAP-based measures, and such measures may not be comparable to similarly-titled measures reported by other companies. That’s because OPEN hides three key flaws behind its slick investor relations presentations. For the fourth quarter, GAAP Gross Profit was $38.4 million or 15.4% of total revenue, compared to $74.0 million or 5.9% of total revenue for the prior year period. Contribution Profit was $31.5 million and Contribution Margin was 12.6%, as compared to Contribution Profit of $18.2 million and Contribution Margin of 1.5%. Opendoor Technologies Inc. (NASDAQ:OPEN) Q4 2020 Earnings Conference Call March 4, 2021 5:00 PM ET Company Participants Whitney Kukulka - The Blueshirt Group Eric Wu - … Non-GAAP Adjusted Net Loss was $(41.3) million as compared to $(86.6) million. Products & Services. Opendoor Technologies Inc. stock is now -0.97% down from its year-to-date (YTD) trading value. Replay: An archived webcast of the conference call will be available on Opendoor’s investor relations website for one year following the live call at https://investor.opendoor.com About Opendoor Since 2014, Opendoor has provided people across the US with a radically simple way to buy, sell or trade-in a home. A live webcast of the call can be accessed from Opendoor’s Investor Relations website at https://investor.opendoor.com. Business Insider – 12/16/2020. The Company began rebuilding inventory in the fourth quarter, and expects to return to sequential revenue growth in the first quarter of 2021. Investors: Whitney Kukulka The Blueshirt Group investors@opendoor.com. Contribution Margins are expected to moderate with the rebuilding of inventory over the course of the year. Still, the company is operating at a substantial loss. Their stock opened with $31.47 in its Dec 21, 2020 IPO. In 2014, we set out to reinvent life’s most important transaction with a new, radically simple way to buy and sell your home. When we care for our company, customers, and our associates, we know that our shareholders will receive the best results. Management will host a conference call at 2:00 p.m. Pacific Time to discuss its operating results, which can be accessed on its investor relations website at https://investor.opendoor.com. We explain Opendoor’s service charge and the dramatically simplified selling experience it enables. We’ve served tens of thousands of customers who have come to Opendoor to make their moves easier. For the full year, GAAP Gross Profit was $219.8 million or 8.5% of total revenue, compared to $301.3 million or 6.4% of total revenue for 2019. Opendoor expects to report revenues of $2,578-$2,583 million for the year ended Dec 31, 2020. Non-GAAP Adjusted Net Loss was $(175.1) million as compared to $(326.8) million. March 4, 2021 — Written by Opendoor, Exceeds prior expectations for fourth quarter and full year 2020 resultsDoubling of markets expected for 2021. First Quarter 2021 OutlookFor the first quarter of 2021, Total Revenue is expected to be between $600 million and $625 million, which represents 146% sequential growth over Q4 2020 at the midpoint of the expected range. Management projected adjusted EBITDA for the year at -$103 million to -$98 million. Looking for a great paid job opportunity at Opendoor in San Francisco, CA? For more information, please visit www.opendoor.com. Opendoor is registered under the ticker NASDAQ:OPEN . This was a Pre-Seed round raised on Nov 18, 2016. OpenDoor is funded by 500 Startups. Founded in 1954, Lennar Corporation’s core principles of Quality, Value, and Integrity are the underlying foundation upon which we were built. Contacts Investors:Whitney KukulkaThe Blueshirt Groupinvestors@opendoor.com Media:Sheila Tran / Charles StewartOpendoorpress@opendoor.com Opendoor will host a conference call to discuss its financial results on March 4, 2021 at 2:00 p.m. Pacific Time. Since 2014, Opendoor has provided people across the U.S. with a radically simple way to buy, sell or trade-in a home. Since 2014, Opendoor has provided people across the U.S. with a radically simple way to buy, sell or trade-in a home online. Contribution Profit was $110.1 million and Contribution Margin was 4.3% as compared to Contribution Profit of $92.1 million and Contribution Margin of 1.9%. Headquartered in San Francisco, we are a team of problem solvers, innovators and operators building the largest, most trusted platform for residential real estate. Opendoor currently operates in a growing number of markets across the U.S. Investors: Whitney Kukulka The Blueshirt Group investors@opendoor.com Investors: Whitney Kukulka The Blueshirt Group investors@opendoor.com Media: Sheila Tran / Charles Stewart Opendoor press@opendoor.com COMTEX_379818558/2471/2021-01-29T09:00:06 Opendoor promises to help home buyers and sellers get the most bang for the buck. Gross Profit per Home Sold was $45,188 compared to prior year Gross Profit per Home Sold of $14,754. Opendoor currently operates in a growing number of markets across the U.S. Investors:Whitney KukulkaThe Blueshirt Groupinvestors@opendoor.com, Media:Sheila Tran / Charles StewartOpendoorpress@opendoor.com. An archived version of the webcast will be available from the same website after the call. For the fourth quarter, GAAP Net Loss was $(87.8) million as compared to $(91.7) million for the prior year period. What: Opendoor Fourth Quarter and Full Year 2020 Earnings Conference CallWhen: Thursday, March 4, 2021Time: 2:00 p.m. PT (5:00 p.m. This first fiscal quarter is expected to mark a return to sequential revenue growth across existing markets with strong and increasing demand for Opendoor’s service and an accelerating pace of home acquisitions. Contribution Margin after Interest was 3.2% as compared to 0.6%. Media: Sheila Tran / Charles Stewart Opendoor press@opendoor.com. “We are making it possible to buy and sell a home at the tap of a button and building the future of the real estate transaction,” said Eric Wu, Co-Founder and CEO of Opendoor. Conference Call and Webcast DetailsOpendoor will host a conference call to discuss its financial results on March 4, 2021 at 2:00 p.m. Pacific Time. For the full year, GAAP Net Loss was $(286.8) million as compared to $(339.2) million for 2019. Forward-looking statements speak only as of the date they are made. The decision to temporarily pause home buying, and the subsequent sell down of homes in inventory over the second and third quarters, drove a significant decline in revenue in 2020. In this guide, we share our expert tips on home improvements that can help you fetch a higher sale price. Opendoor believes that these non-GAAP measures of financial results (including on a forward-looking basis) provide useful supplemental information to investors about Opendoor. Not only are they hiding a toxic business model from customers. Opendoor Technologies Inc. Opendoor’s management uses forward looking non-GAAP measures to evaluate Opendoor… But despite a red-hot housing market, I’m not chasing OPEN stock. “We are making it possible to buy and sell a home at the tap of a button and building the future of the real estate transaction,” said Eric Wu, Co-Founder and CEO of Opendoor. For the full year 2020, Total Homes Sold was 9,913, compared to 18,799 for the prior year, and Total Revenue was $2,583.1 million, as compared to $4,740.6 million for 2019. Opendoor currently operates in a growing number of markets across the U.S. Investors: Whitney Kukulka The Blueshirt Group investors@opendoor.com. The Investor Relations website contains information about Opendoor Technologies Inc.'s business for stockholders, potential investors, and financial analysts. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Opendoor generated $4.7 billion in revenue last year on 18,000 home sales across 21 markets. Adjusted EBITDA1 is expected to be between $(33) million and $(28) million, which represents Adjusted EBITDA margins of (5)% at the midpoint of the expected range. For more information on the Company’s non-GAAP financial measures, please see “Non-GAAP Financial Measures” and “Reconciliation of GAAP to Non-GAAP Measures” included at the end of this press release. Adjusted EBITDA was $(27.1) million or (10.9)% Adjusted EBITDA Margin, as compared to $(59.0) million or (4.7)%. Forward Looking StatementsThis press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Our mission is to empower everyone with the freedom to move. Opendoor CPO: Here are my 2 predictions for what the 2021 real estate market will look like. MarginsOpendoor realized increases in unit margins, particularly in the fourth quarter, largely driven by a combination of inventory weighted to recently acquired homes, coupled with home price appreciation in its markets. Contribution Profit per Home Sold was $37,052 compared to prior year period Contribution Profit per Home Sold of $3,635. Adjusted EBITDA was $(98.0) million or (3.8)% Adjusted EBITDA Margin, as compared to $(217.9) million or (4.6)%. A live webcast of the call can be accessed from Opendoor’s Investor Relations website at https://investor.opendoor.com. Opendoor's mission is to empower everyone with the freedom to move. Contribution Margin after Interest was 12.2% as compared to 0.2%. Replay: An archived webcast of the conference call will be available on Opendoor’s investor relations website for one year following the live call at https://investor.opendoor.com. These items include, but are not limited to, inventory impairment and stock-based compensation with respect to future grants and forfeitures. The reimagined way to buy and sell your home. Opendoor is a leading digital platform for residential real estate. Readers are cautioned not to put undue reliance on forward-looking statements, and we assume no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Opendoor (NASDAQ:OPEN) has jumped 150% since its June IPO. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking, including statements regarding our financial condition, anticipated financial performance, business strategy and plans, market opportunity and expansion and objectives of management for future operations. We do not give any assurance that we will achieve our expectations. Add increasing competition from the likes of Zillow, Redfin and others, and you have a startup that’s living on borrowed time. While we are pleased with the progress and foundation we’ve built, we are just getting started.”. About Opendoor Opendoor’s mission is to empower everyone with the freedom to move. Opendoor expands suite of services in multiple states. The Company expects to launch six new markets in Q1. Since creating the category seven years ago, we have generated over $10 billion in home sales, served over 80,000 customers and demonstrated our ability to scale efficiently. OPEN became publicly-traded via a merger with Social Capital Hedosophia Holdings Corp. II on December 18, 2020, raising net proceeds of $970 million, Completed an underwritten follow-on public equity offering of $860 million of net proceeds in February 2021, adding to the Company’s cash and marketable securities balance of $1,460 million at the end of Q4 2020, Launched a completely digital, contactless consumer experience in all markets, Tripled inventory balance from Q3 2020 to $466 million and 1,827 homes at year end, Generated 15.4% Gross Profit margins and 12.6% Contribution Profit margins in the fourth quarter of 2020, Announced planned doubling of footprint to 42 markets during the course of 2021, Expanded leadership team with the addition of Andrew Low Ah Kee as President, Daniel Morillo as Chief Investment Officer, and Carrie Wheeler as Chief Financial Officer. SAN FRANCISCO, March 04, 2021 (GLOBE NEWSWIRE) — Opendoor Technologies Inc. (Nasdaq: OPEN), a leading digital platform for residential real estate, today reported financial results for its fourth quarter and fiscal year ended December 31, 2020. Contribution Profit per Home Sold was $11,109 compared to prior year Contribution Profit per Home Sold of $4,897. A live webcast of the call can be accessed from Opendoor’s Investor Relations website at https://investor.opendoor.com. The foregoing list of factors is not exhaustive. A full view of the markets we serve can be found here. This added complexity makes it difficult to take a holistic view across your customer base, produces inconsistencies in management information, and creates additional operational workflows across multiple business … Opendoor has a post-money valuation in the range of $1B to $10B as of Feb 19, 2019, according to PrivCo. These forward-looking statements generally are identified by the words “anticipate,” “believe,” “contemplate,” “continue,” “could,” “estimate,” “expect,” “forecast”, “future”, “intend,” “may,” “might”, “opportunity”, “plan,” “possible”, “potential,” “predict,” “project,” “should,” “strategy”, “strive”, “target,” “will,” or “would”, the negative of these words or other similar terms or expressions. ... Lead Investors: Name of the investor who led the investment in the funding round. “While 2020 was an unprecedented year, I’m proud of our team’s relentless focus on digitizing the transaction and delighting customers. The Company believes these non-GAAP financial measures including Adjusted Gross Profit, Contribution Profit, Contribution Profit After Interest, Adjusted Net Loss, Adjusted EBITDA, and any such non-GAAP financial measures expressed as a Margin, are useful to investors as supplemental operational measurements to evaluate the Company’s financial performance. With a market cap of over $16 billion, Opendoor is now valued more than online real estate competitor Redfin (NASDAQ:RDFN) and nearly half of Zillow (NASDAQ:Z). Fourth Quarter and Full Year 2020 Financial SummaryRevenue and Homes SoldRevenue for the full year and fourth quarter exceeded prior company forecasts as a result of strong home resale performance and an increased acquisition pace after pausing home purchases in March at the onset of the COVID-19 pandemic. SV Angel and General Atlantic are the most recent investors. These items, which could materially affect the computation of forward-looking GAAP net income (loss), are inherently uncertain and depend on various factors, some of which are outside of the Company’s control. Learn how we leverage our robust valuation model and local pricing experts to determine your home’s value. They’re also obscu You should carefully consider the foregoing factors and the other risks and uncertainties described under the caption “Risk Factors” in our annual report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”) on March 4, 2021 and our other filings with the SEC. An archived version of the webcast will be … Investor Relations.