Opendoor Technologies Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2021
November 10, 2021 at 04:05 pm EST
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Opendoor Technologies Inc. reported earnings results for the third quarter and nine months ended September 30, 2021. For the third quarter, the company reported sales was USD 2,266.35 million compared to USD 338.61 million a year ago. Net loss was USD 56.82 million compared to USD 80.85 million a year ago. Basic loss per share from continuing operations was USD 0.09 compared to USD 0.91 a year ago. Diluted loss per share from continuing operations was USD 0.09 compared to USD 0.91 a year ago.
For the nine months, sales was USD 4,199.01 million compared to USD 2,334.24 million a year ago. Net loss was USD 471.06 million compared to USD 198.97 million a year ago. Basic loss per share from continuing operations was USD 0.8 compared to USD 2.32 a year ago. Diluted loss per share from continuing operations was USD 0.8 compared to USD 2.32 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.