We recently published 10 Stocks Outperforming the Market; 3 at the top. Opendoor Technologies Inc. (NASDAQ:OPEN) had one of the best results on Friday.
Opendoor Technologies extended its winning streak for a third straight day on Friday, jumping 7.53 percent to close at $5 apiece, as investors took heart from the company’s reaffirmation that it would return to profitability on an adjusted basis by the end of the year.
In an earnings conference call, Opendoor Technologies Inc. (NASDAQ:OPEN) said it narrowed its adjusted net loss last year by 24 percent to $195 million from $258 million in 2024.
Net loss, on the other hand, increased 232 percent to $1.3 billion from just $392 million in 2024, while revenue declined 15 percent to $4.37 billion from $5.15 billion year-over-year.
“Last quarter, we outlined a four-step plan to transform Opendoor: achieve balanced adjusted net income by the end of 2026 within 12 months, drive positive unit economics while increasing transaction speed, transition to direct-to-consumer relationships, and expand our product range. This quarter demonstrates that we are executing on that plan,” said Opendoor Technologies Inc. (NASDAQ:OPEN) CEO Kaz Nejatian, noting that the results reflect structural improvements in how The company operates with more accurate pricing, faster inventory turns, and disciplined picking.
In the fourth quarter alone, Opendoor Technologies Inc. (NASDAQ:OPEN) said net loss rose 870 percent to $1.096 billion from $113 million, while revenue fell 32 percent to $736 million from $1.08 billion.
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Disclosure: None. This article was originally published in privileged monkey.