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Opendoor Opendoor Announces First Quarter 2021 Financial Results May 11 , 2021 SAN FRANCISCO , May 11 , 2021 ( GLOBE NEWSWIRE ) -- Opendoor Technologies Inc. ( Nasdaq : OPEN ) , a leading digital platform for residential real estate , today reported financial results for its quarter ended March 31 , 2021. Opendoor's First Quarter 2021 financial results and management commentary can be accessed through the Company's shareholder letter on the quarterly results page of Opendoor's investor relations website at https://investor.opendoor.com . " We are relentless in our pursuit of making it possible to buy , sell , and move at the tap of a button , " said Eric Wu , Co - Founder and CEO of Opendoor . " We exceeded our guidance for Q1 and are experiencing strong momentum as we look forward to the rest of the year . This quarter marked a number of record firsts for us - offer requests , conversion of real sellers and number of market launches . And we did this with an NPS north of 80 from our sellers , reminding us that customers love what we are building . While we are proud of these results , we are energized and focused on the opportunities ahead of us . " Conference Call and Webcast Details Opendoor will host a conference call to discuss its financial results on May 11 , 2021 at 2:00 p.m. Pacific Time . A live webcast of the call can be accessed from Opendoor's Investor Relations website at https://investor.opendoor.com . An archived version of the webcast will be available from the same website after the call . Total Homes Sold of 2.462 , up 190 % versus 4Q20 Total Homes Purchased of 3,594 , up 78 % versus 4Q20 Total Revenue of $ 747 million , up 200 % versus 4020 GAAP Gross Profit of $ 97 million , or 13 % of Total Revenue Forward Looking Statements This press release contains certain forward - looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 , as amended . All statements contained in this press release that do not relate to matters of historical fact should be considered forward - looking , including statements regarding our financial condition , anticipated financial performance , business strategy and plans , market opportunity and expansion and objectives of management for future operations . These forward - looking statements generally are identified by the words " anticipate " , " believe " , " contemplate " , " continue " , " could " , " estimate " , " expect " , " forecast " , " future " , " intend " , " may " , " might " , " opportunity " , " plan " , " possible " , " potential " , " predict " , " project , " " should " , " strategy " , " strive " , " target " , " will " , or " would " , the negative of these words or other similar terms or expressions . The absence of these words does not mean that a statement is not forward - looking . Forward - looking statements are predictions , projections and other statements about future events that are based on current expectations and assumptions and , as a result , are subject to risks and uncertainties . Many important factors could cause actual future events to differ materially from the forward - looking statements in this press release , including but not limited to our public securities ' potential liquidity and trading ; our ability to raise financing in the future ; our success in retaining or recruiting , or changes required in , our offices , key employees or directors ; the impact of the regulatory environment and complexities with compliance related to such environment ; our ability to remediate our material weaknesses ; various factors relating to our business , operations and financial performance , including , but not limited to , the impact of the COVID - 19 pandemic on our ability to grow market share ; our ability to respond to general economic conditions and the health of the U.S. residential real estate industry . The foregoing list of factors is not exhaustive . You should carefully consider the foregoing factors and the other risks and uncertainties described under the caption " Risk Factors " in our annual report on Form 10 - K filed with the Securities and Exchange Commission ( the " SEC " ) on March 4 , 2021 , as updated by our quarterly report on Form 10 - Q for the quarter ended March 31 , 2021 , and our other filings with the SEC . These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward - looking statements . Forward - looking statements speak only as of the date they are made . Readers are cautioned not to put undue reliance on forward - looking statements , and we assume no obligation and do not intend to update or revise these forward - looking statements , whether as a result of new information , future events , or otherwise . We do not give any assurance that we will achieve our expectations . About Opendoor Opendoor's mission is to empower everyone with the freedom to move . Since 2014 , Opendoor has provided people across the U.S. with a radically simple way to buy , sell or trade - in a home online . Opendoor currently operates in a growing number of markets across the U.S. Contact Information Investors : Whitney Kukulka The Blueshirt Group investors@opendoor.com Media : Sheila Tran / Charles Stewart Opendoor press@opendoor.com