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      Opendoor Technologies Inc. (OPEN) stock Falls After Hours Following Q4 & Fiscal 2021 Earnings - Stocks Telegraph

      By Gule Rukhsar

      Published on

      February 25, 2022

      7:46 AM UTC

      Opendoor Technologies Inc. (OPEN) stock Falls After Hours Following Q4 & Fiscal 2021 Earnings - Stocks Telegraph

      On February 24, Opendoor Technologies Inc. (OPEN) declare its financial results for Q4 and fiscal 2021. Consequently, the stock suffered a fall in the after-hours while it was enjoying the green during regular trading.

      In the prior regular trading session, the stock remained bullish with a good gain of 19.09%. At a heavy volume of 33.51 million, the OPEN stock closed the regular session at a value of $10.98. Following the announcement, the stock plunged down to $10.06 in the after-hours. Hence, the stock declined by 8.38% at an after-hours volume of 2.09 million on Thursday.

      The residential properties buy and sale platform operator, Opendoor Technologies Inc. has a market capitalization of $5.7 billion. Currently, the company has 617.83 million shares outstanding. With a year-to-date loss of 24.85%, the OPEN stock added 29.18% last month.

      OPEN’s 2021 Financials

      The company provided its latest financials along with guidance for the first quarter of 2021.

      Fiscal 2021

      In fiscal 2021, the company generated total revenue of $8.0 billion with an increase of 211% YOY.

      Moreover, the adjusted net loss was $116 million in fiscal 2021, against $175 million in the previous year.

      OPEN reported an adjusted EBIDTA gain of $58 million in fiscal 2021, against a loss of $98 million in 2020.

      Q4 2021

      For Q4 2021, the company reported revenue of $3.8 billion with an increase of 1,435% YOY.

      Furthermore, the adjusted net loss was $80 million in Q4 2021, against $41 million in the year-ago period.

      Additionally, the adjusted EBITDA was $0.4 million in Q4 2021, against $(27) million in the year-ago quarter.

      Q1 2022

      For Q1 2022, the company expects revenue between $4.1 and $4.3 billion with adjusted EBITDA of $30-$40 million. The expected revenue growth for Q1 2022 is 462% and $37 million YOY for EBITDA.

      Upcoming Conferences

      On January 25, the company announced its participation in certain upcoming investors conferences with management presentations. The details are as follows:

      Firstly, OPEN’s CFO, Carrie Wheeler will present at the Wedbush Real Estate Technology Conference on March 3, 2022.

      Secondly, CEO and Co-founder, Eric Wu will present at the Morgan Stanley Technology, Media & Telecom Conference. The presentation is scheduled for March 8, 2022.

      Conclusion

      While the company reported great YOY growth in revenue and other items, it still didn’t manage to impress investors. Investors were expecting much better results while the company posted a wider loss. Thus, the stock suffered a downfall in the after-hours while it enjoyed the green in regular trading.

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