Opendoor Technologies, Inc. (NASDAQ:OPEN) stock traded lower Wednesday after the company reported first-quarter earnings on Tuesday after the market closed.

What To Know: Opendoor reported a loss of nine cents per share, beating the consensus estimate of a 10 loss. In addition, the company reported sales of $1.15 billion, beating the consensus estimate of $1.06 billion, but representing a 2% year-over-year decrease.

Opendoor reported an inventory balance of $2.4 billion, representing 7,080 homes, a 26% increase from a year ago.

“We’ve spent the last decade building a modern real estate platform — designed to deliver simplicity, certainty, and a customer-first experience. We entered 2025 with a clear plan to drive toward profitability while strengthening our product experience and platform. Our first-quarter results reflect disciplined execution: we improved Adjusted EBITDA and sharply reduced Adjusted Net Losses,” said Carrie Wheeler, CEO of Opendoor.

Outlook: Opendoor sees second-quarter sales from $1.45 billion to $1.52 billion, versus the consensus estimate of $1.45 billion.

OPEN Price Action: Opendoor stock closed Wednesday 24.36% higher at 87 cents, according to data from Benzinga Pro.

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