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Income Statement (USD)
Q2 '24 | QoQ | |
---|---|---|
Revenue | 1.51B | 27.9% |
Gross Profit | 129M | 13.2% |
Cost of Revenue | 1.38B | 29.5% |
Operating expense | 201M | 0% |
Net Income | -92M | 15.6% |
EBITDA | -71M | 1.7% |
Balance Sheet (USD)
Q2 '24 | QoQ | |
---|---|---|
Total Assets | 3.37B | 0.9% |
Total Liabilities | 2.53B | 0.9% |
Total Equity | 845M | 6% |
Shares Outstanding | 699M | 1.5% |
Cash Flow (USD)
Q2 '24 | QoQ | |
---|---|---|
Cash from operations | -399M | 124.2% |
Cash from investing | 9M | 59.1% |
Cash from financing | 15M | 115.3% |
EPS
Financial Highlights for Opendoor in Q2 '24
Opendoor reported a revenue of 1.51B, which is a 27.9% change from the previous quarter. An increase in revenue typically indicates growing demand for the company's products or services. This positive change in revenue is a good sign, suggesting that the company's sales are moving in the right direction.
Gross Profit stood at 129M, marking a 13.2% change since the last quarter. Gross profit showcases the efficiency in production and sales processes.
Cost of Revenue was 1.38B, a 29.5% difference from the previous quarter. A rising cost of revenue may suggest increased production or sales costs, which can impact margins. However, if accompanied by a proportionate rise in revenue, it could indicate scaling operations.
Operating Expenses for this period were 201M, showing a 0% change from the last quarter. Operating expenses cover the costs of running daily business operations. A significant increase might indicate inefficiencies or investments in growth, while a decrease could suggest cost-saving measures or potential underinvestment in key areas.
Net Income for the quarter was -92M, showing a 15.6% change from the prior quarter. Net income provides a clear picture of the company's profitability after all expenses. An increase suggests the company is becoming more profitable, while a decrease may raise concerns about the company's financial health, unless there are specific one-time costs or investments.
The company's EBITDA for the quarter was -71M, showing a -1.7% change from the previous period. EBITDA gives insight into the company's operational profitability, excluding non-operating expenses like interest and taxes. A rising EBITDA indicates strong operational performance, while a declining EBITDA may signal operational challenges or increased costs.
It was a positive quarter for Opendoor with growth in revenue, gross profit, and net income. An increase in the cost of revenue, higher than the revenue growth, suggests potential margin pressures. A decline in EBITDA signals potential operational challenges or increased costs.