Opendoor Technologies Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2021
February 24, 2022 at 04:05 pm EST
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Opendoor Technologies Inc. reported earnings results for the fourth quarter and full year ended December 31, 2021. For the fourth quarter, the company reported sales was USD 3,822 million compared to USD 249 million a year ago. Net loss was USD 191 million compared to USD 54 million a year ago. Basic loss per share from continuing operations was USD 0.31 compared to USD 0.3 a year ago. Diluted loss per share from continuing operations was USD 0.31 compared to USD 0.3 a year ago.
For the full year, sales was USD 8,021 million compared to USD 2,583 million a year ago. Net loss was USD 662 million compared to USD 253 million a year ago. Basic loss per share from continuing operations was USD 1.12 compared to USD 2.31 a year ago. Diluted loss per share from continuing operations was USD 1.12 compared to USD 2.31 a year ago.
Opendoor Technologies Inc. provides a digital platform for residential real estate transactions. By leveraging software, data science, product design and operations, the Company is building a technology platform for residential real estate that offers buyers and sellers a digital, on-demand experience. Its products include Sell to Opendoor, List with Opendoor and Opendoor Marketplace. Sell to Opendoor enables sellers to utilize its core product offering to sell their home directly to it, and it resells the home to a home buyer. By selling to Opendoor, homeowners can avoid the stress of open houses, home repair coordination, overlapping mortgages, and the uncertainty that can come with listing a home on the open market. Its capital-light marketplace offering connects home sellers with both institutional and retail buyers, facilitating transactions without Opendoor taking ownership of the home. Its listing product is available in 17 Opendoor markets.
OPENDOOR TECHNOLOGIES INC. 
